India has more money than good companies: Haresh Chawla

There is more money than there are good companies in the market today, according to former CEO of the Network 18 group,Haresh Chawla.

Chawla, who will be moving into his new role as partner at India Value Fund - a private equity firm - in June, told Firstpost that India’s private equity space is extremely competitive right now and while valuations had gone off path over the past few years, there is tremendous opportunity to explore the PE space.

Chawla worked with Network 18 for ten years, during which it grew from a Rs 15 crore company in 1999, to a diversified media group with revenues in excess of Rs 2,500 crore in 2011. Speaking to Firstpost, he said India Value Fund was a perfect career fit for him, as he has spent the better part of his recent career building brands and businesses.

“IVF is a unique fund in the sense that with capital it brings management expertise to a company,” Chawla said, adding that he hopes he will leverage his brand-building expertise for the fund.

While Chawla concedes that India, with its recent policy announcements regarding taxation or GAAR, has created nervousness among investors, he says that he is certain that better sense will prevail. He is of the opinion that India will provide excellent investment opportunities for funds like IVF.

After having spent an entire decade in the media world, Chawla says that he will miss the unpredictability and excitement of the media world, but he is looking forward to learning about many more business verticals in his new role.

Listen to the whole Firstpost interview below.