BharatPe profit in 10 months, IPO in 2 years: Rajnish Kumar

There are reports that Bhavik Koladia, co-founder of BharatPe, has resigned following a disagreement with the company. What was the reason for his exit?

Bhavik, along with Shashwat Nakrani, is the original founder. For the last five years Bhavik has been working as a consultant in BharatPe. So, having contributed to the building of the company, there is a fairly large team that looks after the day to day operations. The company has matured. It is now a professionally managed firm. The board will be expanded in a day or two. BharatPe is transforming from a personally operated company to a professionally run company. As far as guidance or advice is concerned, he will continue to be available. Bhavik’s five-year counseling period is coming to an end. The form or size in which the new contract is signed will be decided by the company taking into account the individual’s own compulsions and desires; We should not read much.

There have been talks that the company is negotiating with Ashneer. what is the status?

Ashner is a shareholder. The rest is with the company and it.

Are you disappointed with what happened between Bharatpe and Ashneer?

I always believe that whatever happens is what happens. Looking at the company’s perspective, it has completely changed as far as corporate governance is concerned. Now, the predictions are clear that the company will operate professionally, fully compliant with the regulations. As I mentioned, the company has reached a level that it will no longer be dependent on a single person. Any company that wants to grow beyond a certain point, the company must have its own strength to survive without relying too much on an individual. Now it is more about the team and business strategy. To that extent, whatever has happened, there has been no impact as far as the performance of the business is concerned. The focus is on how the company will become profitable. The company will turn profitable in the next 6-10 months.

What about planning for an IPO?

We are preparing for this. 18-24 months is the time frame we are looking at.

You had lumped together the plan for the restructuring of Yes Bank. Are you happy with how the bank has changed in the last 2 years?

From SBI’s point of view, the investment was made 10.40 There was a lot of concern that taxpayers’ money was being wasted. So, all those naysayers have been proven wrong. In the sense that whatever the price is today, SBI can easily get 50% returns in three years’ time, which is a decent return. No cost to the company, from an investment perspective. (It is also) the national duty to save a bank the size of Yes Bank. What would have happened to the depositors if SBI had not stepped in? What would be the impact on the private sector? In that sense it has been a satisfactory opportunity.

What do you think has changed in Yes Bank since the founder stepped down?

Yes Bank now has a professional board. First, after the restructuring, there was the liquidity infusion, the capital infusion. But what is important is the governance philosophy of the bank. Other things, they didn’t go for a change in management. Once again, this reinforces the point that if you have a board that has transparency, acts independently and allows key management, including the MD and CEO, to operate with independence, things can change. Huh. After all, the board and the managing directors and chief executive officers that have changed. Rest of the things are same.

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