Mr Nirmal Gangwal, aged 63 years, is an Indian investment banker specialising in financial turnaround, liabilities management, recapitalization, debt resolution, financial restructuring and divestments with over 35 years of experience. He is the founder and chairman of Brescon Group, India’s first and one of the largest investment bank specialized in special situations and stressed assets advisory for last two decades. Brescon was listed on the Bombay Stock Exchange in 1994. Brescon & Gangwal have become synonymous with “Regenerating Value” and “Creating Opportunity in Adversity” out of special situations and stressed. If increase in market capitalisation of the top 25 cases is considered as benchmark for value creation, Gangwal has created 16x value for its clients leading to market capitalisation of over $13 bn. He has guided more than 200 corporates in their growth phase as well as in stress by way of liabilities management in excess of $15 bn. He has also advised public sector banks to find possible ways and means to improve upon Capital Adequacy Ratio post Basel III requirements. He has also advised one of the premier public sector bank in improving capital adequacy ratio by recapitalisation of the real estate value. At any given point in time, Brescon has live advisory mandates of over $1 bn, thanks to Gangwal’s deep-rooted connections in the industry.
Mr Nirmal Gangwal has served as a member of several prominent industry and trade organizations and was also on the board of many large cap public listed companies.
Mr Gangwal was part of the Working Group formulated for implementation of the latest Insolvency and Bankruptcy Code 2016 by Government of India.
Mr Gangwal was also associated as key go-to preferred advisor in financial turnaround and restructuring of many of the underperforming state owned companies in Gujarat under the leadership of Mr. Narendra Modi (current Prime Minister). He played a very important role in companies like Gujarat State Fertilizer Corporation, Gujarat Alkalies & Chemical, and Gujarat Chemical Port Terminal.
He referred the first case under the CDR (Corporate Debt Restructuring) forum formed by RBI (Central Bank) and the first case advised for exit from the CDR forum. He is the first to structure “Risk Return Matrix” to meet varying perspectives on risk and returns associated with the industry and the borrower.
Mr Gangwal along with Indira Gandhi Institute of Development Research (IGIDR) (leading advanced research institute established and funded by Reserve Bank of India) also organised workshop and brought together a cross-section of experts in the area of banking including senior bankers, ex-regulators and industry participants, for an informal deliberation on the issues involved and outline a balanced approach that was workable and fair to creditors and debtors, within the tools that are available.
Mr Gangwal has been a very active speaker on various forums relating to stressed asset resolution and investments. Some of the events include Annual Asia Pacific Distressed Investing and Corporate Restructuring Summit in Hong Kong, events organized by ASSOCHAM (The Associated Chambers of Commerce of India), training programme by one of the leading banks in exports and imports financing for staff training on early identification and diagnosis of stressed assets and special forum organized by a leading public sector bank for educating them on resolution of stressed assets.
Mr Gangwal is a qualified Chartered Accountant, Company Secretary and a lawyer by education.