- Legacy
Our Heritage
Brescon Group, India’s first and one of the largest independent investment banks, specialized in special situations and stressed assets advisory for over 30 years. Founded by Mr. Nirmal Gangwal, an industry veteran with over 43 years of experience, Brescon excelled in crafting financial solutions, liabilities management, recapitalization, debt resolution, financial restructuring, and divestments.
Key highlights during this illustrious career include:
Our success was built on the ability to deliver “win-win” solutions for all relevant stakeholders, leveraging deep connections within India’s financing eco-system. Brescon pioneered innovative strategies for debt resolution including fund raising from special situation funds, private equity firms, asset sales to buyout funds, one-time-settlement including debt assignments.
Just a few years ago, we raised INR 35 Bn (~USD 0.5 Bn) from marquee investors for debt resolution in an innovation led Pharma & Biotech company, and a steel-&-engineering company. It’s heartening to convey that the innovation led Pharma & Biotech Company is debt-free today having turned around its operations and the steel-&-engineering company has become a multi-bagger, going up by 16x!
Along with a commendable track record of creating value for all stakeholders and high success rate in transactions handled, our work ethic for prominent corporates and business houses from variety of industries such as infrastructure, steel, power transmission and distribution, textiles, real estate held our reputation in high regard.
Our approach and purpose of solving any problem:
Our ‘WHY’ was to make India a force to reckon with. Entrepreneurs take on enormous risks – setting up industries, creating jobs (generating employment), paying taxes to the government and driving economic growth to say the least. Yet, when adversity strikes, these entrepreneurs are often left without the support they need.
That’s when Brescon stepped in.
Reflecting on our journey, we see that Brescon played a crucial role of a catalyst for entrepreneurs. We provided an unbiased perspective and deep insights into the complexities often hidden from plain sight. By illuminating the intricacies of the financial ecosystem, we guided entrepreneurs toward recognizing the opportunities that awaited if they remained steadfast. Our role extended beyond merely addressing financial challenges; we empowered entrepreneurs to navigate the emotional turbulence that accompanies adversity, offering them renewed hope and direction for their journey ahead.
We looked for finding opportunities in the face of adversity.
Testimonials
SBI
Rajnish Kumar, Ex-Chairman, SBI
My first encounter with Nirmal dates back to 2006 when SBI exited from a stressed but performing asset. His ideas on structuring transactions that holistically preserved the value of enterprise while reducing the burden on lenders were impressive.
Gujarat Government
Manjula Subramaniam, IAS, Principal Secretary, Gujarat Government
Exhilarating to work with an organization like yours and see the results unfold.
IPCA Laboratories
Mr. P C Godha, CMD, IPCA
Laboratories
Nirmal proposed a breakthrough suggestion. The Bachchan family transferred a part of their equity in IPCA to our account and we took over their existing liabilities in ABCL. This helped us retain management control without substantial cash outflows.
RPG Group
Harsh Goenka, Chairman, RPG Group
Brescon has been advising the Group since 1998 and has been successful in their mandate. I have found them to be sincere and committed.
Jayaswal Neco
Mr. Ramesh Jayaswal, Jt. MD, Jayaswal Neco
I take this opportunity to express my appreciation for Brescon’s timely assistance and efforts in arranging financial assistance from the investors to acquire debt from our lenders while preserving the value of the assets and retaining management control. I sincerely congratulate you on actively striving to facilitate the complex assignment by coordinating with us and the investors, negotiate terms with the new investors and navigate processes end to end along with my finance team and the team management. Mr. Nirmal Gangwal’s professionalism really helped me sail through the challenging situation and find solutions in timely manner.
VIP Industries
Dilip Piramal, Chairman, VIP Industries
Brescon’s ability to deliver the transactions within the stated objective speaks highly of their financial & operational expertise and this was well displayed when we engaged them for co-partnership and debt resolution activity for one of our group companies.
GSFC
A. K. Luke, IAS, MD, Gujarat State Fertilizer Corporation
Was able to guide GSFC very skillfully through the Corporate Debt Restructuring process and guide it on to the path of success. It added significant value to GSFC.
Motilal Oswal Advisors
Vishal Tulsyan, CEO – Motilal Oswal Private Equity Advisors
The whole approach, that of solution finding is a win-win for all the stakeholders. We at Motilal Oswal Private Equity always look forward to interacting with you and your team.
IDBI
Jitender Balakrishna, Ex-DMD, IDBI
Having seen Brescon’s representation in some of our client cases, we found that they bring in a high level of involvement along with an objective view point in each case.
Garware Polyester
Shashikant Garware, CMD, Garware Polyester
Determined to come up with a solution. I like their thoroughness.
Gammon India
Abhijit Rajan, CMD, Gammon India
The team showed extraordinary commitment in navigating the process, Mr Gangwal in particular surpassed my expectation.
Nitin Spinners
Dinesh Nolkha, MD, Nitin Spinners
They have a very professional approach towards the execution of the assignment and are very transparent and objective in their approach. It is a pleasure working with such organization.
Pokarna
Gautam Chand Jain, CMD, Pokarna Engineered Stone
Brescon is an ultimate solution for financial restructuring.
