Pitch-Deck Presentation

Apohan equity tech platform pitch deck ppt v34 11-09-2021 aj final
1. APOHANTM Pitch-deck Presentation for Prospective Investors Where businesses realize their dreams!!! World’s first equity funding (EquityTech) delivery platform Presented by: Arun Joshi, Founder Date : E-mail: arun.joshi@apohanconsultants.com Ph. +91 9810481325 Website www.apohanconsultants.com 2-Oct-21 1 APOHANTM CORPORATE CONSULTANTS PVT. LTD.
2. APOHANTM Apohan: An EquityTech Platform 2-Oct-21 2 1. A cursory glimpse of the company 2. Vision & mission statements 3. Addressable target market 4. What problem does our platform solve? 5. Relative attractiveness of SMEs for equity investment 6. Ecosystem of transaction stakeholders for a scalable business model.
3. APOHANTM Apohan: A cursory glimpse of the company 2-Oct-21 What is our business? •Introduction: A 2.5 years old B2B EquityTech start-up in Pune, India. •Service portfolio: Long-duration success-based transactions, mid-duration strategic services, hourly counselling services •Flagship services: Equity funding for growth & turnaround; share transfers •Target market: Scientifically, systematically & thoroughly screened SMEs, No start-ups, No large companies. •Excluded services: No statutory or registered services. No brokerage, No SAAS, No IB, No Buy-side advisory • Founders’ background: ~240 strategic transactions, ~250 IT-enabled infrastructure projects, 1500 SMEs Mission Unicorn: Modus Operandi • Uniqueness: World’s 1st & only strategic transaction delivery platform! •Deal origination: Massive deal origination through inbound marketing strategy •Efficiency: Elimination of underserving SMEs & irrelevant investors at the earliest signal. •Technology: 95% automation of input gathering, output generation & dissemination. •Profitability: Process standardization, trained low-cost HR • Scalability: International replication, more varieties of transactions, strategic services, wider target market What is the progress? •Product: 16-member team working to ready the MVP by Dec 2021. •Revenue: 5 existing contracts, 11 hot leads, 5.22 cr (USD 0.75 Mn) order book, 192 active leads, 900 MSMEs surveyed •Investments: Friend & family investment of 50k USD from UK in Oct. 2020; 18k USD PS in Aug 2019. Industry Disruptions: Equity to play major role in SME growth story Suppression of the broker chains High deal success rate due to end-to-end services Fair investment contracts & valuations 3
4. APOHANTM Apohan: Vision & mission statements 2-Oct-21 Vision To become the world’s largest & most reputed strategic advisory delivery platform for the SMEs. Mission To close 100 transactions /day through online automated strategic advisory services platform for SMEs within the first 15 years from incorporation. • Corporate Governance: Everything else & everyone else follows! The supreme principle • Excellence through technologies, prosperity for all stakeholders, wealth creation for clients, organization first Organizational values • Synonym for 100% transaction success, first recall for SMEs, repute for fairness, all three levels of deal success, India’s prided brand Brand Apohan • Mentoring of technocrat promoters on equity, filling in vacuum of strategic departments in SMEs Custom Requirements • Competence in strategy, corporate, finance, contracts, transactions, no second dependencies for SMEs One-stop solution 4
5. APOHANTM Addressable Target Market (India): SME Equity Funding Advisory Micro (<0.7) Small (>0.70, <7.0) Medium (>7.0, <35) Mid (< 35) Large Mega 2-Oct-21 5 Revenue Range of Target Businesses: (Revenue in USD Mn) 63,000 k = Universe of MSMEs 3,780 k = SMEs to be screened 200 k = SMEs to be served pa 30 k large companies (Tn INR ) Industry 2016 2019 CAGR Credit Share Micro 3 4.3 13% 7.33% SME 7.5 10 10% 17.04% MID 4.8 5.5 5% 9.37% Large 34.1 38.9 4% 66.27% Overall 49.4 58.7 6% 100.00% Target business count Businesses (India alone) Unmet SME funding demand = 6,250 Bn. Loans Rejected = 465 Bn. Loans not applied ~ 2000 Bn Qualified Unmet Equity Demand = 298 Bn (2017 Stats); Consulting fees: 6 Bn to 20 Bn per annum Credit off-take pattern of the Banks
6. APOHANTM Supply Side: Attractiveness of equity investment in SMEs 2-Oct-21 6 • Non-negotiable investment contracts • No control of management • No representation in the Board • Less visibility of business affairs • High overheads, compliances • Difficult transformation, inflexibility • Limited growth scope • No application of investor skills • High valuation multiples • Wild price fluctuations • High liquidity Listed companies • Highly custom investment contract • Substantial control of management • Representation on the Board • Visibility of the business affairs • Very low overheads, lower compliances • Easy transformation, new initiatives • High growth on low base with funding • Synergies: tech. promoter + fin. investor • Attractive valuation multiple, listing gains • Peace of mind – No random price fall • No liquidity SMEs For ticket size between USD 2 Mn to USD 50 Mn, equity investment in a “well-screened-SMEs” is a much better option than investing in listed companies or start-ups.
7. APOHANTM Business Opportunity: What problem does our business solve? 2-Oct-21 2 Funding culture: Poor funding practices •No funding beyond internal accruals & debt •Fund unavailability = financial unviability •Control mania at the cost of growth/net-worth •Finding an investor =?#%*&^%= deal done? Funding regulation: Complex process •Lengthy corporate process •Many internal & external approvals needed •ROC fees & stamp duty/overvaluation taxes high •Very difficult to change legal form of business •Compliance documents not useful for deal Funding market: None or Unorganized •No idea in SMEs on advantages of equity over debt •No organized third-party equity market for SMEs •Excessive risk perception than real business risk for SMEs •No SME screening mechanism for investors •Failed partnerships due to poor or no contracts Funding Preparation (SME): No documents, clarity •No strategy, finance, corporate depts. to support transaction •No operations or transaction documentation •No idea of right consultants, T&C, scope, deliverables •Faith in brokers/compliance firms for 100% delivery process •No provisioning for time & cost Funding Entities: No capacity to screen/process •No infrastructure & time to screen & approach potent SMEs •No timely, sufficient communication of NoGo criteria •Insistence on unequal T&C, control & rights •Misconceptions about SME exit & investment liquidity •Less willingness to pay consulting charges to invest money Funding consultants: No consulting infrastructure • No ability to educate SMEs & originate deals • No ability to filter investment-worthy SMEs • No working capital for success based deals • Domain/compliance firms don’t have 360o deal expertise • Unscientific delivery process resulting in 99.9% deal failure Opportunity: An absence of a reliable, economical, speedy, mass-serving strategic transaction consultancy infrastructure to meet gap between potent SMEs & low-ticket investors.
8. APOHANTM Platform Development 2-Oct-21 8 1. Overview 2. Business process 3. Overview of the web-app 4. Solution architecture 5. Development stages – progress so far 6. Key team members 7. Tech. team 8. Our advisory panel 9. Strategic transaction 10. Competitors and differentiators
9. APOHANTM Overview of Platform Current global leader in transaction advisory closes around 150 deals per annum across nations, sectors, sizes, etc. At Apohan, we aspire to close around 100 deal/day after 10-15 years! A refined ecosystem of all transaction sides, organizations, roles: i.e., Apohan, SMEs, investors, consultants, brokers, experts, etc. to create transaction workspace Automatic generation of evaluation matrices, dashboards, databases & draft documents & communication templates: To shorten the timeframe of transaction Automatic data collection for screening SMEs (BD) & preparation of docs (Delivery): Account Aggregator, web-crawling, AI to meet all information needs of the investors Marketing sub-domain for inbound- marketing strategy: SME needs are standard & brand Apohan can close deals must faster; the portal would work on awareness, misconceptions & process of equity funding 2-Oct-21 9
10. APOHANTM Consultant Appointment Phase •CMS Module – Inbound Marketing Strategy • Awareness on equity • Removal of misconceptions • Education on transaction process •BD Module • NDA (Business – Apohan) • Client information form • Counselling • T1 B1 T2 B2 process • Consulting proposal • Consulting contract Inception Phase • Problem/Aspiration detailing • Profile of seller • Timeline & budget for process • Study of business & internal documents • Study of strategic options • Selection of deal structure • Inception report/CIM • Future business plan • Financial model & valuation Investor Identification Phase • Desired profile of investor • Investor selection criteria • Shortlist of investors • Preparation of teaser • Invitation of interest from prospective investors • NDA (business & investor) • Mobilization for data room • Investor’s due- diligence • Plant visit Detailing Phase • Term-sheet • Financial negotiations • Commercial negotiations • Appointment of compliance professionals: CS, CA, lawyer, statutory valuer • Selection of non- strategic experts: Engineering, market • Seller’s detailed due-diligence • Modifications to term-sheet Closure Phase • Draft investment contract • Price & contractual negotiations • Corporate process • Creation of escrow account • Execution of investment contract • Fund transfer • Payment of success fees to consultants Integration phase • Handholding by consultants • Not Directly Related to Apohan • Secretarial compliances • Accounting compliances • Taxation compliances • FEMA compliances • Business specific compliances • Integration of businesses • Achievement of objectives of the transaction Platform: Transaction process A strategic transaction ideally may require 15 types of professional skills, study of 375 types of existing operational documents in a company from across 30 mutually exclusive departments or functions, preparation of around 25 new transaction documents apart from huge communication with a wide variety of stakeholders. A complex transaction for large company is daunting & not standardizable! The task of making a platform for SMEs is challenging but SME transactions relatively simple & standard!! 2-Oct-21 10
11. APOHANTM What is needed? Who needs? • Funding/transaction • Strategic, corporate, financial, contracts • Societies & coo-op, NGOs, Govt./ Multilaterals, proprietorships, LLPs, etc. • Companies • Micro, early start-ups, large, mega cap, blue-chip, MNCs, etc. • Small, medium & mid-size, small cap In which form? • Debt, grants, CSR, gift, schemes, benefits, exemptions • Equity, convertible, mix • Acquisitions • Working capital, diversification, capacity expansion, new projects, new products/ services, new markets/ geographies, vert./ hori./ lat. integration, etc. • Lok Adalat, DRT, DRAR, unviable business, business under liquidation, corrupt business • Working capital shortfall, bank NPA, business restructuring, SARFAESI, asset reconstruction, CIRP under IBC, ownership & control disputes, viable loss making business Instruments Growth Turnaround • Consumers, NGOs, government, investor funds, start-ups, traders, consultants • Businesses Entities Legal forms • Banks & NBFCs, AMCs (MFs or ARCs), PMS Funds- (pension, PF, insurance, hedge), etc. •Seed, angel, SAFE, sweat equity, ESOPs, HNIs, NRIs, family offices, FDI, etc. Investors • MNC advisory companies, Big 4 advisors, buy-side investment or merchant banks, domain firms – (CA, CS, law), debt consultants, etc. •Transaction advisors, strategy advisors, management consultants, SME counselors, online equity funding delivery platforms. Service Providers For what purpose? What we do? Whom we resemble? Who are in our ecosystem? What we don’t do? Whom we don’t resemble? Who aren’t in our ecosystem? • Operational transactions, bonds/ debentures issue, credit fund, ECB • Asset sale, slump sale, share transfer, transfer of securities, buyback, rights, bonus, private placement, SME exchange, FDI, preferential allotment, IPO, ADR, GDR, Inst. Equity, liquidation, recovery, M&A, demergers, schemes, restructuring, equity or contractual JVs, etc. Transactions Sizes Viability of the model: Correct choice of types of clients, their legal types, sizes, investment instruments, transactions, purposes, investors, consulting services is must! 2-Oct-21 11 Consulting Services Funds Platform: Ecosystem structure
12. APOHANTM 2-Oct-21 12 Users Entity structure Input methods BD Phase Delivery phase Delivery phase Databases APIs Features Sell-side Individuals Input tools Input information Input information Output information Internal Transactional User experience SME (Client) Promoters Autofill T1- Standalone soundness Secretarial Stakeholder structure SMEs Virtual data rooms User assistance Apohan Mkt Shareholders Company website B1 – Readiness for process Strategic Deal structure Strategic investors Deal databases Customization Compliance professionals Directors Account aggregators T2- Reasonability of offer Projects CIM Financial investors Brokerage platforms Scalability Experts KMP LinkedIn B2- Consulting T&C Financial Investment schedule Associates Account aggregators Security Brokers Employees Prescribed websites Output information Marketing Financial model M&A Consultants IdentificationTech Reliability Buy-side Influencers Web crawling Go-NoGo decision Operations Business plan Compliance firms Anonymity Performance Investors External stakeholders Document upload NDA Procurement Risk matrix Experts Discussion forum Compatibility Buy-side advisors Organizations Direct typing Proposal R&D Teaser Brokers General Interpolability Apohan delivery Shareholders Speech-to-text Consulting contract Contracts Investor list Public Workspace Administration Compliance professionals Controllers Robochat HR Offer structure Opportunities Calendar Access control Experts External stakeholders Audio files IT Term-sheet Deals Virtual meeting Privacy Brokers Video files Legal Investment contract Events Massmailer Multi-device Apohan call centre Opportunity list Assignments Payment gateway SEO Platform: Overview of the web-app The platform has two modules: BD & Delivery. There is high traffic & low analysis in BD module, low traffic & high work in delivery module!
13. APOHANTM Platform: Forms 2-Oct-21 13 BD Forms Specific BD Forms User Details Requirement Details Organization Details Attractiveness of business Team Details Readiness for transaction BD Assignment Details Offer to investor Document List Consulting terms details Administrator Page GoNoGOHold Decision Matrix Delivery Corporate Forms Technical Forms Support Function Forms User Details Business Group details Project Plan, Management Administration Organization Company secretarial Plant, Facility details Human resources Team Details Shareholder’ details Business licenses Information Technology Assignment Directors’ details Design & engineering Funding Administrator Creditors’ details Procurement, SCM Finance & Accounts Business Alliances Products, services & projects Investments Corporate mgmt. Production, Operations Legal & contractual affairs Compliances Repair & Maintenance Knowledge Management Strategic transactions Marketing Public relations Risk Management BD& sales Liaison International business Distribution channel Industry Memberships Business strategy Technology & R&D Charity Investment decisions are information intensive. The forms are sector agnostic & have a lot business logic.
14. APOHANTM Platform: Development: Progress 2-Oct-21 14 Choose a Fintech niche (Done) Deal with compliance (Done) Features consideration (Done) Make a project team (Done) Design (Ongoing) Coding (Ongoing) Testing (Ongoing) Develop an MVP (Ongoing) Quality Analysis (Not started) Deployment (Not started) Maintenance (Not started) Solution Architecture Front end : React JS + Yup + Frappe, Backend : Laravel, Database : Postgresql, OS : Linux, Server : NginX (All opensource)
15. APOHANTM Platform: Key team members (1/2) 2-Oct-21 15 Web-app Project manager : Siddhi Walunjkar Bachelor of Technology, Computer Science Engineering, VIIT Pune. Technical Knowledge – AI, ML, Salesforce, Business Intelligence, Soft computing. Technical lead : Kaivalya Kabadi Bachelor of Technology, Computer Science Engineering, VIIT Pune. Technical Knowledge – AI, ML, Salesforce, Business Intelligence, Soft computing. Software development Advisor : Shrikant Shet 8 years of software development experience, Excellent knowledge of Web application development, ReactJS, VueJS, NextJS, NodeJS, ExpressJS, GraphQL and Laravel. Internal subject matter experts : Strategy, corporate, finance, contracts, transactions, business experts: Arun, Shailesh, Pavan, Deepak, Vaibhav, Rohit, Shrihari
16. APOHANTM Platform: Tech. team (2/2) 2-Oct-21 16 Internal business experts Arun Joshi Shailesh Waghmare Vaibhav Kadam Rohit Kurapatti Shrihari Karandkr External Consultants Shrikant Shet Kamlesh Waghmare Apohan’s developers Siddhi Walunjkar Kaivalya Kabadi Solution provider side business experts Atul Kulkarni Vendor side business experts Aniket Katade Subhash Tatale Tushar Deshmukh Sanket Swami Ritesh Choudhary Developer side mentors Vivek Deshpande As per our plan, the Platform MVP will be ready by Dec 2021. Technologies used – Front end : React JS + Yup + Frappe, Backend : Laravel, Database : Postgresql, OS : Linux, Server : NginX (All opensource)
17. APOHANTM Platform: Our advisory panel 2-Oct-21 17 • Founder and CEO • Paradiso Software Solutions, Pune • Education – • Harvard Business School • Expertise – • Developed one of the top ten LMS systems globally. • Global clientele • Unique product reputation • 6 year bootstrapped successful startup. Sachin Chaudhari • Co-Founder • Richmond Value Partners, Virginia, United States • IBM • Engineering Leader (7.5 years) • Expertise – • Created algo-based money management application. • Expert in spanning React, Node, Python, Java, etc. Deven Tasgaonkar • Associate Director • Cognizant, Dallas/ Fort Worth Area • Lead Software Engineer • Pier 1, Dallas/ Fort Worth Area (3 years) • Education – • Bachelor’s degree in Mechanical Engineering, College of Engineering, Pune. Nitin Khanna • Founder, CEO • AIBAVA Technology Solutions Pvt. Ltd. ( focuses on AI for social and future needs) • Expertise – • Experience delivering projects/program worth 12000 Person days (approx.) / 14 Million USD (approx.) with multi location, multi nationality team Kamlesh Waghmare We have a total 20–22-member strong mentor panel of promoter friends for assistance in various application development aspects.
18. APOHANTM Apohan: Other Business Details 2-Oct-21 18 1. Competition 2. Revenue model 3. Planned future services 4. Achievements, Work-in-progress 5. Traction 6. Promoter profile 7. Investment requirement details
19. APOHANTM Platform: Competitors & differentiators 2-Oct-21 Main competition: Pseudo-brokers, auditors, brokerage platforms. Strategy consultants typically don’t serve SMEs. In online world, the world hasn’t evolved beyond brokerage SAAS. Aurigin  Beamsmart  Business for sale  CapitalIQ  CBA network  Crunchbase  Enrich advisors  Enterslice  i2i funding  I-deal networks  India network  Kapso  MergerDomo  Mergermarket  Smergers  Techstarts • Key difference: • Apohan is the world’s only & first transaction delivery platform!! • Out of around 2150 Indian fintech start-ups, 2140 are into payments, lending, insurance, compliance, regulation, etc.; • Most equity platforms are into virtual data room (VDR), deal database & brokerage, hence never unicorn!!! • Differentiators: • Brokerage platforms are inefficient & chaotic • There is no transaction delivery obligation. • Anybody & everybody becomes broker to share the commission. • Customer experience is from high hope to high anxiety to high disappointment. • They can’t become a unicorn due to negligible revenue!! 19 Brokerage SAAS platforms
20. APOHANTM Revenue model 2-Oct-21 20 The total realization from a single transaction ranges from USD 80k to 400k. This is a highly profitable business, if done “efficiently” & “using technologies.” Transactions (1/3): Mobilization fees: • Advance fees (Range USD 1.5 k to 15 k) per assignment. Transactions (2/3) Milestone based fees: • Deliverable based telescopic fees for 6 milestones: (Rs. USD 1.5k to 4k lakh per milestone) Transactions (3/3): Success fees: • 2 to 12 % of transaction value depending upon ticket size & complexity of transaction. (USD 70k to 350 k) Time based transaction enablement strategic services (1/1): • Typically, 2-3 months advisory work @10k USD per man-month Counselling & training on transactions (1/1): • Hourly charges for strategic decision making, 1-to-8-hour service, USD 100 per hour.
21. APOHANTM 2-Oct-21 21 1. Sale of strategic assets (or slump sale/ business transfer) 1. Sale of shares or securities 2. Issue of equity instruments for growth or turnaround 3. Issue of mixed instruments 4. Issue of convertible instruments 5. Transactions with existing stakeholders – Buyback 6. Transactions with existing stakeholders – Rights issue 7. Transactions with existing stakeholders – Bonus issue 8. Transactions with existing stakeholders – capital withdrawal 9. Private placement 10. Preferential allotments 11. Mergers and acquisitions, demergers 12. IPO, SME exchange 13. FDI, India entry strategy 14. Overseas Direct Investment (ODI). 15. ADR, GDR 16. Issue of debt instruments, bonds, debentures 17. External Commercial Borrowings (ECB), FCCB, FCEB 18. Liquidation, recovery 19. CIRP under IBC 20. Business restructuring 21. Financial restructuring 22. Joint ventures (incorporated and contractual) 23. Succession planning 23. Management outsourcing 24. Financial & operating lease 25. License, royalty, 26. Franchise 27. Sub-contracting 28. Project finance 29. Bid management 30. PPP, EPC 31. PMC, AMC Strategic transactions Capex Transactions Operational Transactions Business Transactions Product Expansion: Future Strategic Transactions From current 2 transaction services, Apohan plans to undertake one major platform automation initiative & one major new transaction service every year after MVP.
22. APOHANTM Achievements & Work-in-progress 2-Oct-21 22 Achievements Work-in-progress Highly refined systems, processes, policies & documentation Mobilization of 16-member platform team All desirable registrations & compliances in place. Development of EquityTech platform by Dec 2021 80% operating costs financed through revenue. 85% progress on first offline success Angel investment through FDI obtained. Implementation of technology plan Offline transactions used for platform templates. Angel/ VC funding for decent MVP being sought Own WhatsApp network of 1000 M&A professionals. Identification of CTO for leading platform Knowledge database of 65K files prepared. Branding campaign/ SEO/ SEM 2000 A4 page marketing website developed. SME Industry events for business promotion ~10 industry sessions carried out in chambers of commerce. HR rollout Substantial traction obtained from client side. CTO/director being recruited Very high-quality vendors developed. Business/investor databases/subscriptions being procured The company finances 80% of operating expenses except director salaries. It is ready for making final platform, HR rollout, marketing launch & VC investment.
23. APOHANTM Traction Sr. No. Category Count Value (in INR Lakhs) Value (in USD Mn) 1 All historic BD prospects 1200 Not Applicable Not Applicable 2 Prospects studied in detail 948 Not Applicable Not Applicable 3 Active leads (Success + Retainer) 192 ~43104.00 ~58.60 4 Hot leads (Success + Retainer) 11 ~1863.00 ~2.50 5 Contracts (Success + Retainer) 5 ~522.00 ~0.75 6 Closures (Success + Retainer) 0 0.00 0.00 7 Enablement (Time based) 2 ~13.00 ~0.017 8 Education (Time based) 5 ~1.00 ~0.0014 2-Oct-21 23 The existing traction has been created without any external funding. The company can grow exponentially after the first success or investment.
24. APOHANTM Founders’ profiles 2-Oct-21 24 Arun Joshi, Founder & Director, Delivery Profile: 22 years of experience in the transaction advisory, M&A; management, financial, corporate, strategic roles with the most prestigious companies of India. Companies: Worked in RIL, GAIL, CRISIL, PricewaterhouseCoopers (PwC), Isolux Corsan, Delhi Integrated Multi-Modal Transit (DIMTS), Bluestream Infrastructure Sectors: Engineering, chemical, construction, energy, transport, IT-eS, social infrastructure Domains & functions: Business strategy, company secretary matters, financial models, business contracts, transaction advisory Education: BE (Mechanical) from College of Engineering, Pune (COEP), MBA (International Business) from Indian Institute of Foreign Trade (IIFT), New Delhi, LinkedIn-Profile: https://www.linkedin.com/in/arunjoshiapohan Shailesh Waghmare, Co-founder & Director, BD Profile: 20 years experience in business strategy, P&L management, marketing, business development and sales. Led a team of up-to 200+ members. Built three organizations, grounds up into sustainable businesses that are now at next stage of expansion and investment. International experience of Australia, Africa & UAE. Companies: Onicra, AVTEG Pvt Ltd, Hope Technologies Ltd, Supertech Solutions Ltd, Fifth Quadrant Designs, etc. Sectors: MSME, IT, banking, credit rating, infrastructure, education and training Domains & functions: Sales & marketing, business management, business strategy, business alliance management, project management. Education: BSc (Electronics), PGD (Industrial Instrumentation and Information Technology) from CED Technology of India, GOI (CEDTI), MBA (Marketing and Financial Management) LinkedIn-Profile: https://www.linkedin.com/in/shaileshkw . .
25. APOHANTM Investment requirement & related aspects 2-Oct-21 25 Cost Head Normal Growth Rapid Expansion Past liabilities 0.00 0.25 Human resources 0.35 1.25 Marketing expenses 0.05 0.55 Platform -Capex 0.25 1.25 Platform – Opex 0.05 0.25 Other 0.15 0.75 Total (Mn USD) 0.85 4.30 Total (INR Cr.) 6.12 30.96 Our Fund-raising Philosophy: • Apohan management is growth oriented & not control oriented. • Any executive directors, if appointed by investors, must be competent to discharge the duties. • There would be no dilution of our corporate objective which in brief is as follows: “Not to let the deserving SMEs in India fail purely due to funding problems” • There should be no restrictive investment contract clauses till the internal accruals/loans are sufficient to fund growth. • Conversion of 12.00 lakh (17k USD) loan of Sachin Jadhav to equity, sweat equity issue to Shailesh Waghmare, co- director. As such, it is a multi-phase growth story. However, the minimum viable investment is around USD 0.85 Mn & the current ability of the management to fruitfully deploy maximum amount is 4.30 Mn USD.
26. APOHANTM Thank You !!! Time for: Qs & As 2-Oct-21 26