IIMB Alumnus Karan Bhagat named Asia’s Promising Business Leader
Karan Bhagat, Founder, MD & CEO, IIFL Wealth & Asset Management, has been honoured with the Economic Times ‘Asia’s Promising Business Leaders 2021-22’ award. The award recognises business leaders who have played an instrumental role in making Asia the business epicentre of the world. An alumnus from the PGP Class of 2001 from IIM Bangalore, Karan Bhagat is a first generation entrepreneur.
This recognition is a testament to the firm he’s built and nurtured over the years, while providing direction and leadership to the team. In his acceptance, Karan Bhagat said: “Modesty, simplicity and client centricity have been our mantras since inception.”
IIFL Wealth is a key player in the wealth and asset management business. It serves the highly specialised and sophisticated needs of high net worth and ultra-high net worth individuals, family offices and institutions.
Bain Capital, a leading global alternative investment firm, recently announced that it was acquiring 24.98% stake in IIFL Wealth Management for Rs 3,680 crore from General Atlantic Singapore Fund Pte and FIH Mauritius Investments, a wholly-owned subsidiary of Fairfax India Holdings Corporation.
“Bain Capital’s investment is a testament to our strong leadership franchise in the financial services space, and in our team’s ability to continue to execute and grow the business to scale,” Karan Bhagat had said in a recent newspaper interview.
IIMB congratulates one of its Star Alumni Sahil Barua, on his firm’s IPO
Sahil Barua, Co-Founder and CEO of Delhivery, which will launch its initial public offering (IPO) for subscription on May 11, is an alumnus of the PGP Class of 2008.
The initial public offering of supply chain company Delhivery has been fully subscribed on the final day. As of today, the issue was 1:16 times subscribed. The Qualified Institutional Buyers (QIBs) segment was subscribed nearly 2 times while retail Individual Investors (RIIs) 0.48 times.
The company’s ₹5,235-crore public issue comprises a fresh issue of up to ₹4,000 crore and an offer for sale of up to ₹1,235 crore. Under the OFS, investors Carlyle Group and SoftBank as well as Delhivery’s co-founders will divest their shareholding in the logistics company.
IIMB TOPS THE QS RANKINGS IN INDIA ONCE AGAIN
The QS World University Rankings by Subject were announced in April 2022. IIM Bangalore is once again in the top 100 in the Business and Management Studies category, ranked at #63 globally and #1 in India.
“I am particularly happy and proud that our scores on academic and research parameters are improving every year. This QS ranking reflects IIMB’s vision is to be a globally renowned academic institution fostering excellence in management, innovation and entrepreneurship, for business, government and society,” said IIMB Director and Professor of Strategy Rishikesha T Krishnan.