Suneet Maheshwari

Mr. Suneet Kumar Maheshwari is the MD & Chief Executive of L&T Infrastructure Finance Co Ltd which was established in 2006 and has an asset book of approximately Rs 134 billion (as of December 31, 2012). He has over 31 years of experience in infrastructure finance, investment banking, corporate finance and private equity.

Before joining L&T, Mr. Maheshwari served as Executive Director and a member of the board of SREI Infrastructure Finance Ltd., a leading Kolkata based infrastructure finance company, where he was responsible for the project finance, investment banking and private equity businesses. Prior to that, as Partner, MD & CEO of the Infra Group of Feedback Ventures Ltd., in 2000, Mr. Maheshwari was instrumental in creating one of India’s pioneering SME infrastructure funds.

Mr. Maheshwari also spent over 15 years with ICICI, a leading financial institution in India, in its investment banking and infrastructure advisory group. During his tenure at ICICI, he was actively involved in various Indian infrastructure sector reform policy initiatives. Mr. Maheshwari’s participation in policy initiatives reaches back to 1991 when India’s economic liberalization began. He has participated in such initiatives at both the central and state levels and covered various infrastructure sectors including telecom, power, roads and petroleum. While at ICICI, Mr. Maheshwari was instrumental in the creation of India’s pioneering municipal finance initiative with support from the World Bank and the Tamil Nadu Urban Infrastructure Fund. Mr. Maheshwari is an active member of various state and central chambers of commerce focusing on infrastructure sector policies and PPP matters.

Mr. Maheshwari holds a Bachelors degree in chemistry and physics from the University of Bombay and an MBA from the University of Pune.

Life & Education

Suneet was born on 21st April, 1958 in Hapur, Uttar Pradesh, India. Suneet is married to Anuradha and they have two kids - son Udeepto & daughter - Ishita. During his time off work, he enjoys reading and takes special interest in Indian Independence History between the years 1857 to 1962. Besides this he also enjoys Hindustani Classical and old Hindi Songs.

Educational Background

Year of Completion	Name of Institution	Professional Qualification
1979	Ramnarain Ruia College	University of Bombay - B.Sc.(Hons) Chemistry & Physics
1980	Symbiosis Institute of Business Management	University of Poona - Masters in Business Administration
1994	Harvard Business School	Training programme on Strategy & Operations Management for manufacturing & marketing companies
1997	Harvard Business School	Training programme on Restructuring Strategy for FIs & Banks

Career

During the early stages of his career, Suneet shunned job offers from reputed companies and took up the challenge of Market Planning and Distribution for a family managed company, Carona Sahu Pvt. Ltd. in 1981. He started there as a management trainee but through his ability and hard work, he quickly climbed up the corporate ladder. During his tenure as Manager-Market Planning and Distribution in Delhi, Suneet increased the turnover and energized dealer network by 100%. He then moved to Bombay to look after the All India Market Planning and Distribution where he helped develop new products, created new markets in East India and Hilly regions in India, competently repositioned some of the leading products of Carona Sahu Pvt. Ltd. and reduced slow moving inventory across India.

After a successful Marketing career of 3.5 years at Carona Sahu Pvt. Ltd., in 1984, Suneet switched careers to join the Merchant Banking Division of ICICI where over a period of 6 years, he managed over 50 transactions such as BPL, BSES Dahanu power project, Indian Ryon, Hindustan Motors, etc. He also specialized in Investment Banking at ICICI where he innovated 2 concepts, namely, Equity placement which focused on client relationship and Sectoral focus on the Electrical and IT sectors.

In 1990 he moved to the Advisory Services Division of ICICI as the SBU head and Deputy General Manager. During his time at ICICI, Suneet was part of various Indian infrastructure sector reform policy making & PPP initiatives at the federal & state level since 1991- viz., the July’91 liberalisation policy, the NHAI inception plan, Power sector reforms in Andhra Pradesh, Uttar Pradesh, Madhya Pradesh & IPP programmes is several states; initiating the Telecom & Petroleum sector reform plan including the pathway to facilitate private sector participation.

Suneet moved to Feedback Ventures, a boutique infrastructure advisory company, in 2000, where he worked as a Partner and Managing Director (CEO) of their Core Infrastructure Advisory business (Energy, Transport & Urban Infra). He was, inter alia, given charge of making operational India’s first private sector urban infrastructure equity fund and then played the role of Investment Advisor to that Fund. He was also responsible for scaling up their infrastructure advisory practice focused at Energy & Power, Transportation & Urban Infrastructure. Since his entry into Feedback group, their Core Infrastructure operations grew ~3 times in 3 yrs.

Suneet joined SREI Infrastructure Finance Ltd. in 2004, a leading Kolkata based infrastructure finance company as a member of the board assisting them in change management and overseeing their Infrastructure Project & Structured Finance, Investment Banking, Project Development & Advisory services, Venture Capital & Private Equity business. He was also involved in institutional strengthening initiatives as well as in managing relationships with banks & financial system in Mumbai. He was also the MD & CEO of their capital market operations - SREI Capital Markets Ltd. between the years 2004 and 2006.

In 2006, Suneet help form L&T Infrastructure Finance Co. Ltd. (L&T Infra). L&T Infra is an infrastructure finance company) floated by a premier Indian engineering & infra company – Larson and Toubro Ltd. Suneet was and continues to be the CEO of L&T Infra since inception. His mandate was to build a new financing institution specializing in infra financing. He has been responsible for company formation, getting regulatory approvals, formation of a board with eminent professionals, and personally involved in creating a team with a pan-India presence. With an initial equity capital of Rs.500 Cr he has lead this company’s operations from a start up to an asset base of approx Rs.134 bn crs (as on 31st Dec 2012). Suneet is also in the process of creating a private equity asset management platform that will provide asset management services to channelize a pool of funds from domestic and international investors into the development of Indian infrastructure. Apart from being a dynamic CEO, Suneet is also known for his ability to identify talent, train and lead multi-disciplinary teams and evolve a strategy and guide implementation.

Awards and Honors

• Ex-Independent Director & Audit Committee Chairman - Perfect Circle India Limited

• Ex-Chairman – Task Force of Mumbai Regional Development, Confederation of Indian Industry

• Chairman Infrastructure Committee – Indian Merchants' Chamber – 2010-11 & 2011-12

• Chairman – CII Core Group on Infrastructure Financing & Member of the CII National Council on Infrastructure for the year 2010-11

• Member of the CII National Council on Infrastructure for the years 2010-11, 2011-12 & 2012-13

References

• [1] Indian Private Investors Conference - November, 2010.
• [2] Business Standard - October, 2010.
• [3] Calcutta Tube - October, 2010
• [4] Money Control - April, 2011.
• [5] Bloomberg Business Week.
• [6] Reuters.

External links

• L&T Finance website
• L&T Infra website
• L&T Corporate website.