Of Dream Internship And Investment Banking

I was one of the few students blessed enough to land up with the most coveted role at the campus – The Investment Banking role. For the selection process, first, there was CV shortlisting and then shortlisted students were called for interviews at their office in Gurgaon. In the interview, I was asked about basic accounting and finance and Current affairs. After the results were out, I was happy as for a finance person; it landed me in my dream role – Investment banker at Synergy Capcorp India Private Limited. My internship started on 2nd April; my project was to find an acquirer(buyer) for our client (a family-owned logistics company). The first step was to search for potential acquirers for our client. For this, a list was prepared of potential acquirers was prepared using criteria such as EV/EBITDA ratios, cash available and geographic location.- After this, an interest mail was sent to top management, which contains information about the deal and basic information about our client in the form of a teaser. A teaser is 4-5 slides document which contains basic details about the company. - We send a confidential agreement from whom we received a reply for the interesting mail,- After the Confidential agreement was signed, Information Memorandum (IM) was mailed to companies. IM discloses the name of the company and contains detailed information about the company details, business details, product details, market details, cost and financial structure. IM is an extremely important document as it acts as a sales pitch for our client. Meanwhile, we have started working on the financial model. The financial model was real fun from making assumptions regarding revenue growth on a basis such as industry growth, our customer acquisition rate and current customers’ expansion rate and then linking its assets, liabilities, and expenses. From the future predictions, we estimated the current value of the business of the client. One of the most critical things was to analyze our client from broad financial statements while taking care of each and every minutest detail. We also did brainstorming about various questions and problems, that the potential acquirer can ask regarding our client and how to answer them and satisfy them. After a potential acquirer was satisfied, the acquisition price of the company was negotiated. After my internship was over, I got in touch with my mentors, and he told me that legal contracts of the deal are being prepared and the deal will end by July end. My project helped me in the understanding ins and outs of the investment banking industry. I would say that my learnings during the internship are invaluable to me. It helped me in learning the practical aspects of financial modelling which is a bit different from what is taught in classes. Since this was my first corporate experience, I learned the skill of adapting to office culture. The internship gave me an opportunity to interact with and learn from my colleagues who have great industry experience. During my internship, my first-year learnings at IIM Rohtak came handy in many ways - my academic knowledge, like financial accounting, corporate valuation, and tools like MS-Excel, helped me to handle financial modelling and analysis part well and presentations in class helped me in communicating and expressing myself.