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Samir Agarwal is the founder of Indcap Advisors, a boutique investment bank operating across India with more than 30 years of roots in the domestic market. As a founding member of Advisiom, he came to Gibraltar at a pivotal moment for his firm, as the ambitions of Indian business families increasingly extend beyond domestic borders. We sat down with him to talk about why relationships are everything in the Indian market, what it takes for an international firm to succeed there, and why meeting in person changes everything.
Tell us who you are, your firm, and where you’re joining us from. My name is Samir Agarwal. I’m joining from India. My firm’s name is Indcap Advisors. We are a boutique investment bank operating pan-India.
What made you say yes to Advisiom? We have been doing a lot of deals in India, which are all domestic deals. The aspirations of our clients have gone up, and they want to explore cross-border deals. That is when Amanda reached out through Advisiom, and we just loved the idea of becoming part of a global network.
What is the one thing about the Summit that you didn’t expect? I didn’t expect all of us to come together in person. It is so, so nice to meet face to face. We are always connected virtually, but that comfort and that feeling don’t come until you meet someone in person and then do a deal together. I believe that is the biggest takeaway for me.
If another member firm came to you tomorrow looking for inbound into your country, what would they need to know first? If another member firm comes to India, the first thing they need to know is that they have the right partner there. Someone who has deep connections, someone who has deep relationships. A lot of people would have tried globally to come and do deals, but have failed, because they know India is a very relationship-driven market. Being rooted there for more than 30 years, we know how to crack a deal.
"A lot of people would have tried globally to come and do deals, but have failed, because they know India is a very relationship-driven market."
Complete this sentence: The boutique advantage is? The boutique advantage is the closeness with the promoters of business families and direct dealings with the owners of the boutique. It is not through advisors or other professionals. Boutiques always have a hands-on approach, and that is what we bring to the table.
Where do you want to see the Advisiom network this time next year? Maybe today we are 12 firms. Next year, we look at 25 firms. And you never know, I call all of you to India to host it.
Samir Agarwal is a Chartered Accountant, Company Secretary, and Chartered Financial Analyst, and an IBBI-registered Insolvency Resolution Professional with extensive experience in M&A, capital raising, and corporate restructuring.
A Columbia Business School, New York, executive education alumnus, Samir began his career at Arthur Andersen and Ernst & Young, where he advised leading multinational corporations, including Colgate-Palmolive, Cummins, JP Morgan Chase & Co., American Express Bank, McKinsey & Company, Sharp Electronics, and General Motors, among others, on complex cross-border tax and structuring matters.
He is the founder of Indcap Advisors and has led multiple domestic and international transactions across growth capital, M&A, and special situations. Samir is also a co-founder of a Non-Banking Financial Company, an angel investor and an independent board member of a US$1.5bn company.
To learn more about the network and membership opportunities, reach out at office@advisiom.com.
