Founder & Managing Partner
Mr. Nirmal Gangwal, is an investment banker specialising in crafting financial solutions, liabilities management, recapitalization, debt resolution, financial restructuring and divestments with over 39 years of experience.
He is the founder and chairman of Brescon Group, India’s first and one of the largest independent investment bank specialized in special situations and stressed assets advisory for last two decades. Brescon & Mr. Gangwal have become synonymous with “Regenerating Value” and “Creating Opportunity in Adversity” out of special situations and stressed assets. If increase in market capitalisation of the top 25 cases is considered as benchmark for value creation, Mr. Gangwal has created 16x value for its clients leading to market capitalisation of over $13 bn.
Mr. Gangwal has guided more than 300 corporates in their growth phase as well as in stress by way of liabilities management in excess of USD$ 20 bn (INR 1,40,000 crores). He has also advised public sector banks to find possible ways and means to improve upon Capital Adequacy Ratio post Basel III requirements. Well regarded by the industry for his out-of-the box thinking capabilities, he advised one of the premier public sector bank in improving capital adequacy ratio by recapitalisation of the real estate value.
Prior to starting Brescon, in the capacity of the Managing Partner of a CA firm, he drove the practices of Audit, Taxation, Company Law and Project Finance for about 15 years. He has served as a director on the boards of several reputed corporates.
Nirmal Gangwal is a Chartered Accountant and a Company Secretary with a Law degree.
N. S. Rao
Partner, Head of Debt Resolution
Mr. N.S. Rao has 30 years of commercial banking, venture capital, merchant banking, investment banking, financial restructuring and turnaround consulting experience both in India and abroad.
Mr. Rao worked with Canara Bank, CanBank Financial Services, CanBank Venture Capital Fund in India, and was Senior Intern of World Bank at Top Technologies LLC, London, UK and was Country Head (Managing Director) India, for a Florida (USA) based IT Services Company, Pardeshi.com. He led several VC investments in diverse sectors few which have recorded highest growth rates in Indian Venture Capital sector.
Mr. Rao, has been with Brescon over 20 years and has led several large projects debt syndication advisory, lead managed public issues and had undertaken few of the earliest stressed assets restructuring in the country. Currently, overseeing Stressed Assets Resolution, Restructuring and Recapitalization and had carried out transactions worth over INR 350 bn and large projects Syndication, over INR 50bn.
Mr. Rao has Masters in Economics (MS) and Post Graduate Diploma (PGDIM) from International Management Institute, India, with an outstanding academic record and several scholastic awards throughout including being GSE International Scholar as an Outstanding Young Professional.
Partner, Head of Structured Credit & Recapitalization Funding
Vishal Prakash has 21+ years of experience in a mix of Investment Management (covering Private Equity, Mezzanine Investing as well as Structured Credit space), Credit Analysis & Review and Investment Banking in India more specifically in the Indian mezzanine (special situation)financing and in the infrastructure space.
Mr.Prakash was the Director & India Head of Mezzanine & Alternative Investments (proprietary investing) group of Standard Chartered till May 2013 and a senior member (Co-head) of the proprietary investments desk of JPMorgan in India before that. More recently, Mr.Prakash had taken up the mantle of turning the state of Goa into an investing hub under the leadership of the erstwhile iconic Chief Minister from August 2018- October 2019. Between his stints at Standard Chartered and the Goa-IPB, Mr.Prakash co-founded Trade Receivables Exchange Pvt Ltd., an online marketplace for receivable discounting for the SME segment in India. Mr.Prakash was also one of Founder Members of the Adani Financial Services foray. Across his stints at the proprietary desks of Standard Chartered and JPMorgan, Mr.Prakash successfully invested over USD 650Million into India in a host of sectors including Infrastructure, Real Estate, Healthcare, Construction, Renewable Energy and FMCG.
Mr.Prakash has been through two complete investment cycles and has a significant depth of experience in Investing commencing from deal evaluation & diligence, negotiations, closures, investment management and exits.
Vishal Prakash has an MBA Finance and Bachelors in Engineering