Manish Bhai

Total potential ESOP wealth in India stands at INR 14.2 lakh crore! That’s 22% of India’s mutual fund industry AUM — and more than twice the PMS industry’s AUM. Let that sink in. But the biggest ESOP wealth creators are not who we usually think. Nifty 100 companies generate more ESOP wealth than the entire startup ecosystem. HDFC Bank alone created INR 5,282 crore of ESOP liquidity in 2024 — twice as much as India’s entire startup ecosystem did that year. It’s clear that ESOPs are massive wealth-creation engines hiding in plain sight. Yet our quiz last week revealed some surprising facts: Over 65% of ESOP holders with more than ₹1 crore in ESOPs are unaware of vesting calculations, the impact of dilution, or whether their employer’s ESOP policy is favourable. When Revant, Shantanu, and Chirag invited me on the Asymmetric Podcast, I stumbled upon research that made me question many of my own beliefs about this underrated wealth-creation tool. We break down India’s ESOP story in under 75 minutes, covering: - Salary vs Salary + ESOP - Ranking different ESOP policies - Cases where ESOP wealth was lost - The Flipkart Mafia - Life-changing ESOP stories of non-founders - How founders should allocate ESOPs - And a big surprise at the end I promise this will be worth your time — even if you have just 1 unit of equity in your company. Link to the full episode in comments! #ESOPs #WealthManagement #Dezerv #AsymmetricPodcast

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Healthcare in India has quietly shifted. What was once a mission-led sector is now a PE-owned asset class. Most of the country’s leading hospitals are no longer promoter-led. They are backed by Private Equity funds chasing scale and returns. Temasek → Manipal Hospitals (MHEPL) Blackstone → CARE Hospitals, Quality CARE India Limited CVC / KKR → HealthCare Global General Atlantic → Ujala Cygnus Hospital KKR → Baby Memorial Hospitals This shift has undeniable positives: capital inflows, modern infrastructure, global best practices. But it also hardwires ROI targets into an industry built on empathy. And the trade-offs are visible: - Profitable procedures prioritized over basic care - Luxury patient experiences over affordability - Operational efficiency over emotional connect The sector needs growth capital - no doubt. But when healthcare becomes just another asset class, we risk eroding its very core: quality and accessibility for all. The question: Can we let healthcare become just another profit-driven asset class… without eroding its core - quality and accessibility for all? #india #healthcare #privateequity #growth #funding #asset

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What if your fund manager could make you money even in a bear market? Now they can. Markets don’t move in straight lines. But we’ve only had “up-only” investment options for retail investors through MF. That just changed. SEBI introduced a new category Specialised Investment Funds (SIFs) that lets fund managers go both long AND short. Yes, they can profit when stocks fall too. Here’s why this matters (and why I’m cautiously excited): What you need to know: 1️⃣ They’re like mutual funds but smarter (and riskier) SIFs can short up to 25% of their portfolio. That means they can bet on falling stocks something MFs can’t do. 2️⃣ ₹10 lakh minimum investment Not for everyone. But far more accessible than PMS or AIFs that ask for ₹50 lakh or ₹1 crore. 3️⃣ Strategy matters more than branding Each SIF can have its own strategy momentum, arbitrage, sectoral, etc. So don’t just chase names. Understand its strategy. 4️⃣Big upside = big room for loss Shorting isn’t child’s play. If the fund manager gets it wrong, your losses can stack up quickly. This isn’t “set it and forget it” investing. 5️⃣ Still under SEBI’s watch They follow diversification rules, liquidity norms, and can’t go full YOLO. So there’s some regulatory guardrails but you still need to know what you’re buying into. SIFs are a sign of how India’s investing ecosystem is maturing. Anagh Pal did a story for moneycontrol.com on this topic and SahajMoney® shared its view. Would you ever try a fund that bets against the market? ⸻ I make personal finance simple. My goal is to help you understand your money—so you can grow your savings with confidence and peace of mind. 🔄 Repost this to help someone take control of their finances. ➕ Follow me for clear, jargon-free tips on investing, insurance, and taxes. Have a personal finance question you wish someone would answer simply? DM me your question—I’ll answer it clearly and keep your privacy 100% protected. LinkedIn Guide to Creating LinkedIn News India

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Left Deutsche Bank after 16 years to build a 9,000 CR company. 1. Starting in global fixed income structuring, Bhupinder Singh worked hard and became the head of investment banking and securities for Deutsche Bank's Asia Pacific region by 2013. He was now managing 21,000 CR of revenue and 2000 clients across 15 countries. But something worried him. 👇🏻 2. On one side were the large traditional banks and public lenders, and on the other were the fragmented fintech players. He aimed to establish a financial institution that provided global banking services utilising modern technology. He was thinking about how to approach it. 🤔 3. And the answer came in four words - Non-Banking Financial Company (NBFC). After 16 years, he left his top job to establish a tech-driven NBFC that caters to the millions of underserved middle-class households. In January 2016, InCred Financial Services was born. 🚀 4. Bhupinder spent the 12 months closely studying the market, consumer patterns, risk and regulatory affairs. He decided to target the consumer loans and MSME credit market with a low collateral requirement, a strong team, and even stronger technology. ✅ 5. As it expanded into education and personal loans, too, it raised 300 CR led by Paragon Partners in 2018. And then it grew like a rocket. By 2019, it crossed 1000 CR in revenue, 500 team members and served 6000 customers with a loan book of 1000 CR. 📈 6. It raised 600 CR, led by Dutch development finance institution FMO. It built proprietary credit algorithms that went beyond credit bureau and analysed education background, employment history, and even psychometric indicators. But Bhpinder knew something was missing. 🤔 7. He had to take a full-stack approach to service clients across the spectrum. So, he built InCred on three pillars: InCred Finance (core NBFC lender), InCred Capital (wealth management, investment banking, and equity broking), and InCred Money (retail investment). And magic happened. 🪄 8. By 2022, InCred had scaled to assets under management (AUM) worth 4000 CR at a revenue of 488 CR. It counted Amazon, Swiggy, Godrej, and Indiabulls among its clients. The moment came on July 26, 2022, as InCred Finance merged with KKR India to create a financial giant from India. 🇮🇳 9. InCred had proved everyone right as it grew by 50% to scale to an AUM of 7500 CR at a revenue of 877.5 CR from interest income and commissions. By December 2023, it had raised 500 CR led by Manipal's Ranjan Pai and became India's second unicorn of 2023. 🦄 10. Today, InCred clocks an AUM of 9039 CR at a at revenue of 1293.1 CR and profit of 316.3 CR. Its first pillar - InCred Finance achieves a net profit of 374 CR alone. 💪 ➡️However, the best part is that Bhupinder Singh supports the higher education of 140 students from low-income families and provides free healthcare to 700 patients. 🙏 For more such inspiring stories, FOLLOW me here! #startups #india

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A multi-asset strategy involves holding a diversified set of assets that can behave differently across market conditions. This built-in diversification is likely to help the fund remain resilient across market cycles. DSP Mutual Fund

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Last 1 Year Returns – A Reality Check In the past 12 months, Indian markets have been facing headwinds – volatile earnings, global macro pressures, and sectoral underperformance have kept returns modest. Meanwhile, Nasdaq and Hang Seng Bank have delivered phenomenal growth, driven by tech rebounds, policy shifts, and investor optimism. 💡 The takeaway? Relying solely on one geography limits your opportunities. A globally diversified portfolio spreads risk, captures growth across regions, and protects you when one market slows down. In today’s interconnected economy, your portfolio shouldn’t be bound by borders. Think global to grow steady. #news #investments #stockmarket #business

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Fintech Infra | Founder Insights Series 4: GTM and Pricing 1) Buyers (e.g., banks, NBFCs, insurers) increasingly prefer outcome-linked / business-based pricing and end-to-end STP stacks that reduce opaqueness, transaction leakages, and reconciliation challenges - similar to how RTAs like CAMS and KFin price AMCs on AUM. 2) AI pricing is inherently more complex than API pricing - it delivers real value only when packaged with an STP stack that ensures seamless processing. Figuring out unit cost is very critical to explain value. 3) Big opportunity lies in AI-powered explainability and observability - tracking API utilisation for both buyers and providers, preventing leakages like duplicate charges, and building trust in pricing. 4) Products must be designed with contextual clarity - enabling multiple pricing strategies (platform fees + transaction-based models) to address the needs of diverse buyer segments. Vishal Gupta Munish Mittal Vatsalya Tandon Bessemer Venture Partners

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