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2023 at LoEstro: Year in Review

With less than a week left before we pack our bags and head out for the end of year break, now would be a good time to take a breath, reflect on all we have done and more that we are grateful for.

This year, we pushed boundaries, broke records and rewrote our own playbook! We closed the largest K-12 transaction in history, did our first international offsite, consulted governments and private sector, made inroads into healthcare with our first INR 200 Cr healthcare transaction, published books (yes, plural) and much more! Let’s look at the highs, lows and downright hilarious moments of 2023!

Chapter 1: M&A, IPO’s, Fund-Raising & More!

We started the year on a high, and January marked the closure of Glendale’s sale to Singapore-based Global Schools Foundation (GSF). Post-acquisition, the Glendale brand has now expanded internationally with the first Glendale International School opening in Dubai this year!What followed very closely was us smashing our own records. Shortly after Glendale, we closed the largest K-12 M&A transaction in history.As public markets touched new highs, we advised two of our clients leading to successful listings. Two of our IPO advisory clients, Zaggle and Sai Silks Kalamandir made a debut on the stock exchanges.In addition to all the work on the banking side, we consulted top education leaders across branding & marketing, growth & expansion as well as entity structuring. We worked with top K-12 brands such as Allenhouse, Phoenix Greens, Fountain Head and edtech companies like Entab.

Chapter 2: Foray into new sectors

We have remained true to our commitment of choosing to stay focussed on few sectors as it is our belief that the laser sharp focus allows us to add maximum value for our clients. In keeping with our principles, this year marked our entry into the healthcare sector.

We met over a dozen investors, built relationships across clients in hospitals, pharma and health-tech. And that’s not all; we closed our first transaction and helped Standard Glass Lining Technology raise INR 200 Cr from Asahi Glassplant Inc (AGI Japan).

While higher education wasn’t exactly new, our work here took a massive leap ahead this year as we commenced our work with Hyderabad Pharma City and the Government of Telangana to build a new life sciences university in Hyderabad. In addition, we worked with leading private universities like Flame (Pune) and Woxsen (Hyderabad) in shaping their vision and strategy.

Chapter 3: Accolades & Acknowledgments

As we continued to do what we do best, it was gratifying to receive external validation of the same.

· We were among the top 6 global finalists for the Education Investor awards for the third time!

· The Venture Intelligence Jan to Dec 2022 league table was out and we made it number 6. Our best ever !

· Best Education-Focused Investment Banking Firm 2023- India by Acquisition International

· Payal was awarded Top Women in Finance 2023 by Equalifi and Emerging Investment Banker of the Year 2023 by Acquisition International

We spoke at some of the biggest forums for Education in India & globally

Rakesh presented on the India Education Opportunity at Education Investment MENA conference in Dubai and the staggering growth and size of the market left investors excited

Sumit packed all of his learnings of building great brands over the last two decades shared his insights over masterclasses & workshops for leading eductaion leaders including at FICCI ARISE

Payal attended multiple events across edtech and higher education including the GSV Summit, Observe Now Higher Education Leaders Event & Education World’s India Higher Education Rankings 2023–24

Chapter 4: We Care: Launching the LoEstro Scholars Program

Amongst all the phenomenal things that happened, the launch of the LoEstro Scholars Program was perhaps the most fulfilling. We believe in education and empowerment and we couldn’t have found a better partner than Dr Nirmala at SHEEP NGO in Hyderabad. We are committed to supporting the education of 35 incredible girls under her care.

Chapter 5: Gearing up for growth

We continue to grow our team. In 2023, we had three new additions with Rishabh Nagori, Saish Patil and Ayush Palawat joining us

· Rishabh is a Chartered Accountant and an MBA from IIM Kozhikode. Prior to joining LoEstro, he worked with Dr. Reddy’s Laboratories under the Young Leaders Program

· Saish is a Chartered Accountant and has a Masters degree in Banking and Finance from H.R. College Of Commerce & Economics. His experience ranges from Investment Banking and Risk Advisory & Consulting

· Ayush is a graduate from Shri Ram College of Commerce, Delhi University with prior experience in product and consulting.

Rishabh, Saish and Ayush

We also had a slew of promotions this year, with Riya making Associate, Bibek, Kiran & Neha diving headfirst into their role as Principal, and Payal making Partner. Not just professional milestones, the year also marked an important milestone for Neha as she welcomed a baby girl to her family! Congratulations Neha!

Chapter 6: Passports Ready; Get Set, Fly!

Saving the best for the last, there was love, laughter and fun in the air. 2023 was marked by

1. Singapore offsite — well, what screams investment banking more than us on a yatch!

2. Our strategy offsite at Bangalore was marked by intense discussions, long walks and great food!

3. Well, who’s to say no to another offsite (Hyderabad!)

4. The Joey of the team doesn’t share food!!!! (oops, Aditya)

5. More food, yes

6. To losing bets & paying up

7. Well, the story of this year is incomplete without talking about our undying love for the Kesar Chai at Niloufer Café!

As we bid adieu to 2023, let’s raise to toast to a great year — where deals were made, success was celebrated. Here’s to another year of chaos, triumph and a whole of fun!

From the LoEstro Team, a very happy new year to you and your family. Cheers to all the adventures yet to come!