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Maxim Research_Corporate Profile

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Maxim Research_Corporate Profile

  1. 1. Maxim Research Private LimitedMaxim Research Private Limited Corporate Profile 1 Buy-side Research | Sell-side Research | PE & IB Research | Customized Research
  2. 2. Maxim Research Overview • A boutique Investment Research KPO providing customized research to global clients across US, Europe, Asia Pacific and Middle East • Led by a seasoned professional, our operational talent comes with a rich global experience • Maxim’s diverse research platform encompasses multiple asset classes, providing scalable and cost effective research • Offices based in Pune (Oxford of the East) with business continuity plans Business segments End to end research (both equity and fixed income) support to buy side clients Buy-side Research End-to-end research (both equity and fixed income) support to buy-side clients such as hedge funds, asset managers, family offices & providers of large pools of capital. Primarily targeted at independent research (equity/fixed income) providers, Sell-side Research IB Support – M&A support, Equity Capital Markets (ECM), Debt Capital Markets investor relations and brokerage firms researching global bonds and stocks across market capitalization and geographies (developed/emerging markets). IB & PE Support pp pp q y p ( ) p (DCM) and Valuation Advisory Services. PE Support – Pre-Transaction, Transaction and Post-Transaction support. Research Business Research/Consulting Services Sponsored Research 2 Customized Research Research - Business Research/Consulting Services, Sponsored Research, Financial Modeling, Credit & Risk Analytics and ESG Research. Data Management - Data Aggregation, Database Maintenance and CFO support.
  3. 3. Our Value Proposition • Seamless outsourcing • Deep understanding of client needs in the investment research space • Experienced investment research talent pool • Strong domain expertise in equity and thematic research • Efficiency gains resulting from time-zone differences • Offices based in Pune (Oxford of the East) with business contingency plans • Strong academic credentials and deep equity research experience • High degree of professionalism, confidentiality, integrity, and ethical standards • Significant cost savings 3
  4. 4. Buy-side Research Services Equity Long/Short Hedge Funds Family Offices Other Asset Management Cos Fixed Income/Credit Hedge Fundsg • Financial Modeling • Valuation Analysis (DCF, LBO, Sensitivity Analysis) • Financial Modeling • Debt Comps and Peer Group Analysis • Financial Modeling • Valuation Analysis • Analyze & Screen • News Tracking & Monitoring • Financial Modeling gg • Equity Comps (Comparable Companies Analysis) • Analyze & Screen securities & Provide Alerts N i h • Cash Flow Modeling and Waterfall analysis • Covenant & Indenture Analysis C it l St t & y Securities & Provide Alerts • New companies research • On-going Portfolio i i • Valuation Analysis (DCF, LBO, Sensitivity Analysis) • Equity Comps (Comparable Companies Analysis)• New companies research • On-going Portfolio companies review • Sector/Thematic Research N T ki & • Capital Structure & Leverage Analysis • Chapter 11 filings/ Bankruptcy analysis • Distressed/Recovery companies review • Sector/Thematic Research • News Tracking & Monitoring Analysis) • New companies research • On-going Portfolio companies review • Sector/Thematic Research• News Tracking & Monitoring • Analyst Recommendation Summaries Distressed/Recovery models • Rating Analysis and Risk Profiling • New Issue Notes Monitoring• Sector/Thematic Research • On-going Portfolio companies review • Sector/Thematic Research • Screening companies 4 across regions, sectors, and rating categories
  5. 5. Sell-side Research Services Independent Equity Research Brokerage firms Investor Relations Firms Independent Fixed Research Providers • End to end sponsored research/visibility research • Financial Modeling • Initiating Coverage reports • Event/ Earnings update • Screening companies across regions, sectors, and rating categories • Stock Recommendation • Initiating Coverage reports • Event , earnings updates • New companies research • Sector/Thematic Research • Valuation Analysis N T ki & g p • On-going companies tracking and research • Sector/Thematic Research • News Tracking & • Financial Modeling • Initiating Coverage Reports • Event/ Earnings Update D bt C d P , g p • On-going companies tracking and research • Sector/Thematic Research • News Tracking & • News Tracking & Monitoring Monitoring • Periodic Newsletters (Daily/ Weekly/Monthly) • Debt Comps and Peer Group Analysis • Cash Flow Modeling and Waterfall analysis • Covenant Indenture Monitoring • Periodic Newsletters (Daily/ Weekly/Monthly) • Covenant, Indenture , Capital Structure & Liquidity Analysis • Chapter 11 filings/ Bankruptcy analysis • Distressed/Recovery models • New Issue Notes/Credit Notes/Flash Notes 5 • Sector/Thematic Research
  6. 6. Investment Banking (IB) & Private Equity (PE) Support IB Support Services Tax Valuation: 409A Valuation (Stock M&A Support • Target screening and identification • Public comps analysis • Precedent transaction • Debt and capital structure and covenants analysis Debt Capital Markets (DCM) Valuation Advisory Services Equity Capital Markets (ECM) • 409A Valuation (Stock Options) or equivalent • NOLs & Built in Gains (IRC382) • Business valuation identification • Company and sector profiles • Due diligence support • Financial modeling • Precedent transaction analysis • Capital structure analysis • IPO modeling and Valuation and covenants analysis • Credit quality and rating analysis • Liquidity and leverage analysis Business valuation Financial reporting Valuation: • Purchase Price Allocations (ASC 805) Financial modeling • Public comps analysis • Precedent transaction analysis • Capital structure analysis Valuation • Company and Sector report y • Newsletters • Debt comps ( ) • Goodwill Impairment (ASC 350) • REIT Valuation Transactions Capital structure analysis • DCF and LBO modeling • Merger modeling - Control and Synergy analysis • Information Valuation: • Fairness Opinion – Merger & Acquisitions Information memorandums • Public Information Books (PIBs) • Pitch Books 6 • Industry Profiles/ Buyers and sellers profiles
  7. 7. Investment Banking (IB) & Private Equity (PE) Support PE Support Services Pre-Transaction support • Hypothesis testing and market analysis • Due diligence support • Financial modeling (DCF • Building & tracking target performance through Post Transaction support During Transaction support market analysis • Deal sourcing/Short-listing targets based on custom filters • Profiling identified • Financial modeling (DCF, LBO etc) • Public comps analysis • Valuation Support • Industry Landscaping & performance through dashboards • On-going deal support (Data normalization, due diligence, scenariog companies • Continuous market monitoring (Event updates, News monitoring) • Industry Landscaping & Profiling planning and valuation support) • Investor Memoranda & Presentations 7
  8. 8. Customized Research Research Support Data Management • Business Research and Consulting Services • Financial Modeling • Data Aggregation • Data Maintenance • CFO Supportg • Setting up Screeners • Sponsored Research • Credit Analysis and Risk Analytics CFO Support • Updating internal database y • Regulatory Compliance and Reporting • ESG Research 8
  9. 9. Case Studies – Buy-side Equity Research Support Client 1 : US based Buy-side client Client work stream: Initiate coverage on large-cap stocks existing in the client coverage universe Earnings and event updates on stocks initiatedEarnings and event updates on stocks initiated Providing Investment ideas (stock ideas) Client 2 : UK based Hedge fund Client work stream: Monitor news and developments on coverage companies and maintain a corporate actions/earnings tracker Build and update financial models for new and existing coverage and provide on-demand research supportsupport Morning Newsletter with all the major news, developments and corporate actions related to coverage companies in the client’s inbox before arrival. 9 Financial Models are updated with latest results and delivered during the earnings season, hours before the London Market opens, allowing the client to act on earnings
  10. 10. Case Studies – Sell-side Equity Research Support Client 1 : US based Independent Research Provider Client work stream: Independent research covering global companies listed on NASDAQ Includes initiating coverage on stocks and preparing earnings and event updatesIncludes initiating coverage on stocks and preparing earnings and event updates Client 2 : UK based Brokerage firm focusing on Frontier markets Client work stream: Preparing Equity Daily tracking news flow and price movements of the stocks under coverage list Preparing financial modelsPreparing financial models Initiating coverage on stocks and preparing earnings and event updates 10
  11. 11. Case Studies – Buy-side Fixed Income Research Support Client 1 : UK based Brokerage Firm Client work stream: Financial modeling including capital structure analysis, covenant analysis and collateral analysis Fundamental credit analysis and Relative value analysis using cash bondsFundamental credit analysis and Relative value analysis using cash bonds New issue and initial notes for new investments and quarterly review notes for ongoing surveillance Run a pre-scan of companies across various sectors who have opted for Chapter 11 Filings/ Detailed di t d fi i l/ d l Ch t 11/b k t l i d l idistressed financial/recovery models, Chapter 11/bankruptcy analysis and recovery analysis Client 2 : US based firm Client work stream: New issue and initial notes for new investments and quarterly review notes for ongoing surveillance Financial modeling and fundamental credit analysis 11
  12. 12. Case Studies – Sell-side Fixed Income Research Support Client 1 : UK based Brokerage Firm Client work stream: Run preset Weekly Monitory files, update the charts and tables, Collect important credit news, identify top gainers/losers within the portfolio and deliver the draft file to client every week. Assist the client in writing research/market commentary for the in-house Fixed Income Weekly Newsletter New issue and initial notes for new investments and quarterly review notes for ongoing surveillance Run a pre-scan of companies across various sectors who have opted for Chapter 11 Filings/ Detailed distressed financial/recovery models, Chapter 11/bankruptcy analysis and recovery analysis Client 2 : US based mid-sized brokerage firm Client work stream: Screening of new issues, tracking news flow, maintaining financial models for credit analysis including capital structure analysis, cash flow analysis, peer group analysis and relative valuation Writing support involved credit notes for new issues and follow up reports for earnings/credit events 12 Writing support involved credit notes for new issues and follow up reports for earnings/credit events
  13. 13. Case Studies – Investment Banking (IB) & Private equity (PE) Support Client 1 : UK based Investment Bank Client work stream: Screening of companies based on client inputs to identify the prospective targets Prepare tear sheets for the potential targets and Preliminary financial analysisPrepare tear sheets for the potential targets and Preliminary financial analysis Company and sector profiling Assist in pitch book preparation Client 2 : MENA based boutique Investment bank Client work stream: End-to-end financial Modeling support on various start-up projects Preliminary financial analysisPreliminary financial analysis 13
  14. 14. Client Engagement Models Full Time Equivalent (FTE) • Dedicated Resources • Same off-shore associate working for a particular onshore analyst • Assured continuity of services/ supportAssured continuity of services/ support Fixed Cost / Duration • Scope/ estimated duration of the project is clear• Scope/ estimated duration of the project is clear • Pool of generalist who typically work on these projects • Team works with Multiple clients Time and Material • Ad-hoc projects that may differ in scope and objectives • Clarity is likely to evolve at a later stage of the project • The anticipated duration of the project cannot be estimated accurately 14
  15. 15. Control Measures • Analysts are carefully chosen professionals who uphold high standards, and recognize that responsibility to clients and to the integrity of capital markets is paramountresponsibility to clients and to the integrity of capital markets is paramount. • Analysts are required to sign Non Disclosure Agreements that ensure strict client confidentiality and adherence to service-level agreements. • Each employee has to sign a non compete agreement with Maxim for a duration of 3-6 months, after quitting, depending on the seniority of the person • Clients can also request key personnel working on their projects to sign a separate confidentiality and a non compete agreement • Secured access areas • Password protected work stations, restricted access to server work areas • Firewall protected and regular internet usage monitoring • Maxim employees have restricted access to emails. No personal emails can be accessed within the 15 business facility
  16. 16. Key Management Profiles Mahesh Joshi, CFA, MBA – Managing Director & Head of Research • 18 years of diverse global experience across Equities, Fixed Income, Investment Banking and Hedge Funds • Extensive experience of working as a Head of Research for KPO firms based in India. • Wide experience in solutions design and client servicing • Has a 360 degree view in the investment research space due to working in multiple roles as a Head of Research, buy-side analyst & fund manager, Investment banker, sell-side analyst and credit analyst Amol More, MBA – VP Research • More than 10 years of experience in Investment Research • Worked with a Swiss based Private Equity firm, identifying investment opportunities in 'CH+4' markets. End to end support from identifying to analyzing the companiespp y g y g p • Worked with a US based bulge bracket investment bank, tracking a portfolio of companies • Supported an independent research provider (US based) in initiating and maintaining a coverage on a set of companies 16 p
  17. 17. Advisory Board Atul Chatur – Investor/Advisor • Founder of Antilles Advisors, a Principal Investments Advisory and Management Consulting firm with a focus on Indian markets. • Investment Advisor to buy-side clients such as US-based Water Asset Management (India investing in Water-based themes), UK-based Esendes Partners (India Investments in Commercial Yielding Real Estate Assets), UK based leading Macro Hedge Fund (advising on geopolitical changes, regulatory/ policy and Indian macroeconomic developments), leading Canada and Netherlands-based Pension Funds (India investments in Infrastructure and Real Estate). • Has advised Mckinsey & Co. and Bain & Co on issues related to regulatory and policy changes at both State and Central Government levels impacting diverse industries in India. Atul has been a Principal Investor in RBL Bank (involved in sourcing/ origination of the transaction at a very early stage and investing capital the investment has yielded IRR of 40% over a 6-year period) and MeraDoctorinvesting capital, the investment has yielded IRR of 40% over a 6 year period) and MeraDoctor (www.meradoctor.com), a Mobile Healthcare firm that is building India’s largest Technology Platform for Virtual Primary Care and Healthcare. • In his previous role, Atul worked as an Investment Advisor with ALTIMA PARTNERS (UK-based Hybrid Fund/ Private Equity with AUM of US$ 5.7 billion) and played a key role in advising investment decisions of US$ 900 million across several listed opportunities in the Indian financial markets, including Indiabulls Financial Services Limited, Provogue (Fashion and Retail Malls/ Real estate business) and Tricom Limited (BPO operations). 17
  18. 18. Contact Us Delivery Centers Representative Offices London 39 Bromley Common, New York 30 Montgomery Street, Pune - East 13, Yash Chambers Mumbai 2/5, Udhyan y , Kent BR2 9LS, UK 30 Montgomery Street, Suite no 1245, Jersey City NJ 07302 , Vishrantwadi Pune 411015 Maharashtra, India / , y Ghatkopar East Mumbai 400075 Maharashtra, India Pune - West 15, Girija Krupa Paud Road, Kothrud l @ i h | i h , Pune 411038 Maharashtra, India sales@maxim-research.com | www.maxim-research.com L : +91 20 65208465 | M:+91 7798888465 18

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