April 28, 2022

You all have heard how our Loan Against Securities (LAS) disbursements increased by a whopping 73% month on month in February this year on the back of an all-time high loan disbursement for Employee Stock Option Plans (ESOPs). The disbursements surged as we cracked a new relationship with LatentView Analytics (LatentView) for funding the ESOPs of the company’s employees and disbursed about Rs.50 crore to them in February alone. Hena Deep KS, Deputy Vice President – PCG, Sharekhan One - Bengaluru, led the team that made the LatentView deal possible and today we will hear from him how they clinched one of the biggest ESOP funding deals in the history of Sharekhan’s LAS business.

Internal Communications Team (ICT): Congratulations on bagging the LatentView deal! How does it feel to be recognised for the achievement?

Hena Deep (HD): It feels really nice. It was a combined effort of many departments that made the LatentView deal possible. It was the zeal and the synchronised efforts of many Sherus. It was team work all the way.

ICT: So how did you manage to land the LatentView deal?

HD: It all started with the lead we received from a remissier for LatentView ESOP funding. Maryam Bangera mam, Head – LAS, and Niranjan Gojanur, Area Sales Manager - LAS, Karnataka Regional Office, continuously followed up with the clients, explaining to them about ESOP funding on the one hand and battled competition with Bajaj Finance and Edelweiss, on the other hand, in terms of the commercials and professional expertise in broking. The comfort extended to the clients with respect to the ease of processing their ESOP applications gave them the required confidence to go with us which was further bolstered by our strategy that allowed the clients to liquidate their stocks for loan repayment without affecting the stock price. We were finally able to clinch the deal as LatentView employees were convinced about our prowess in ESOP funding. We are very grateful for the support we received from Channaraj sir, Business Head; Devang Kamdar sir, Segment Head – Sharekhan One; Amit Arora sir, Head – Sharekhan BNP Paribas Financial Services; and Maryam mam, Head – LAS. We couldn’t have done it without their support. Apart from the above business, we are expecting from them future business in terms of additional funding, new funding, brokerage and, as part of diversification, we are recommending to them a few of the managed products that we have.

Business achieved from the LatentView deal (data as on March 31, 2022)

ICT: Did you face any challenges?

HD: Yes, sure, we encountered quite a few challenges but I am happy to say that we overcame them all, thanks to a collaborative effort. First, LatentView employees were vesting there ESOP shares for the first time and their organisation is highly compliance oriented. They wanted us to explain each process step by step and the intricacies involved since all the clients were designated employees and they needed to report all transactions to the regulators. Second, they wanted the account opening to happen in flat two days, including the Trading and Demat accounts, the Depository Participant Power of Attorney (POA) account, the non-banking financial company (NBFC) account and the HDFC POA account. For this, Niranjan, ASM – LAS, and Riyaz M H, Manager - Regional Operations, Karnataka Regional Office, travelled to Mumbai with physical forms, sat with the Account Opening team and got it done within the stipulated time. We are thankful to the Account Opening team from the Head Office, especially Santosh Dalvi and Siddharth K, for their support. Third, LatentView mandated that the disbursement of the funds should be routed through the HDFC POA account only. This required a lot of coordination with the Sharekhan BNP Paribas Financial Services team to process the payment seamlessly. Our heartfelt thanks to Sanjay Gourav and his team for their help. Fourth, every time the clients pledged their shares to sell, we had to share the requisite statement with them so that they could share the same with the regulatory authorities. Thanks to Sindhu Balachandran, Assistant Manager - Customer Service, Head Office, and her team for arranging the statements even on non-working days. Fifth, we had to close the loan before March 31, 2022 because the clients were all designated employees and were forbidden to do any transaction after April 1, 2022. With the help of Devang sir and Channaraj sir, we used all possible methods to liquidate the stocks in a timely manner and to clear the funding amount. At the same time, all the Relationship Managers of the Sharekhan One - Bengaluru team made the clients comfortable by interacting with them repeatedly and executing their transactions seamlessly.