MY EXPERIENCE AT AVENDUS CAPITAL BY ADARSH APPAIAH | BM

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MY EXPERIENCE AT AVENDUS CAPITAL BY ADARSH APPAIAH | BM

SD 12

The company is a like huge family. There are about 120+ people working there and most of them know each other by first name. I have seen a lot of people who have worked there for quite a long period.

1) Where did you do your summer internship?

Ans: I interned at Avendus Capital, Mumbai

2) Tell us about the GD and interview process of the company.

Ans: Avendus process is very straight and simple. There was no GD and only one round of PI. Candidates were shortlisted based on their CV. The PI panel consisted of two members- One of them was an Executive Director (From IB division) and the other was the VP-HR.

The interview started with a self-introduction. The questions were from finance domain peppered with a little bit of behavioural questions. They also asked me questions on my past work experience.

At the end of the interview they asked my preference between Investment Banking and Wealth Management role. I chose the Investment Banking role. However, at the start of my internship, I was assigned to the NBFC division.

I made sure that I knew the inside-out of my CV. This was a basic hygiene factor. Most of my questions were around the CV.

3) What was your approach for preparing for the process? Any specific preparation you did for this company?

Ans: I made sure that I knew the inside-out of my CV. This was a basic hygiene factor. Most of my questions were around the CV. To prepare for the process, I revisited accounting concepts. I attended all the sessions and mock interviews conducted by CRISP. I always had the habit of reading newspaper daily so this kept me updated.

When I was shortlisted by Avendus, I researched the company in detail. I tried understanding its business model. I went through the recent deals that they had undertaken. I read up on the general investment banking scenario in India. I also spoke to a senior who interned at Avendus which helped me a bit.

4) Tell us about the internship project you worked on. (Describe in timeline/stages)

Due to NDA, I am unable to be very specific and will only be able to provide a general description. My project was divided into three parts. All three parts occurred concurrently:

  1. a) The first part of the project was to undertake sector research on two sectors where my team was getting significant number of deals. I had to come up with recommendation that would help my team in screening potential deals. As part of my research I had to undertake business analysis, financial analysis and credit analysis. I had to pick few companies in these sectors and analyse their credit ratings rationale.
  1. b) The second part of the project was to go through over a number of PE Investments in the past few years and identify opportunities for PE takeout deals.
  1. c) The third part of my project was involvement in live deals. Here I helped the team in preparation of term sheet, credit note and financial analysis. As part of this, I got to attend client calls which was an enriching experience for me.

The key learning was to not just think about finance as just numbers. There always has to be a strong story to back it up

5) What was your key learnings from the internship period?

The key learning was to not just think about finance as just numbers. There always has to be a strong story to back it up. My mentor always encouraged me to thick practically and to visualise how it would be in real life. Anyone can learn formulas and concepts but not everyone can know when to apply them. This is more important.

6) How relevant were the concepts taught in the classroom to the situations and pre-requisites of your internship?

Some courses were relevant. Basic accounting knowledge is the fundamental block on which your entire work rests on. Some marketing knowledge is also necessary since you have to analyse not just the financials but also the business model of the industry. Having good knowledge about Microsoft Excel is a must. Overall it can be said that this domain is 65% finance and 35% marketing. One needs to appreciate both to enjoy this field.

7) Do you have past work-experience? If yes, did you find any significant change during your summer internship?

Yes. I was a design engineer who used to work in the semiconductor industry before. There was a stark contrast from a relaxed R&D role to a front end role which always keeps you on your toes. The work is more challenging and result oriented.

8) What were the key challenges that you faced during your internship?

It took me nearly a week to get adjusted to the heavy schedule. There was no major challenge since my mentor was extremely helpful and ensured that I had access to all resources. Any time I had a doubt they were willing to guide me.

9) How did you like the work culture of the company? (Mention the contribution of your mentor/other employees of the company during the execution of your project)

The company is a like huge family. There are about 120+ people working there and most of them know each other by first name. I have seen a lot of people who have worked there for quite a long period.

Since the company started in early 2000s there still exists a start-up culture here. People are very willing to help here. You can even walk into the cubicle of any director and ask him for help and they would be more than willing to.

10) Share a memorable incident from your summer internship.

I was once gone to the break-out area to have my coffee. Here I was approached by a smiling person who asked me about myself. He enquired about my team, my project and how I was finding Avendus. We had a nice conversation for about five minutes. At that time I had no idea who he was.  I later found out that he was one of the three founders of the company. He was extremely humble, which is a life lesson. When I was discussing this with my teammates, I found out that it was common occurrence here.

11) Any specific tips for the juniors for the summer internship.

Below are some of the key learning which could be useful for any internship:

  1. Define the deliverable clearly with your mentor
  2. Ask questions and be sure to clarify your doubts immediately
  3. Prepare before meeting your mentor. His time is precious and limited.
  4. Always keep your mentor informed about the work you are doing and take his feedback.
  5. Take the initiative to interact with the other colleagues. You will need their help.
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