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About Us

Maple Capital Advisors is a New Delhi based investment bank, established by experienced professionals who have created leadership in the Indian mid-market advisory space. We provide unparalleled Cross Border & Domestic access to strategic opportunities & growth capital, backed by strong corporate & Institutional relationships, alongside deep sector & product knowledge.

Maple has a highly experienced team, reinforced by a comprehensive ecosystem of strong relationships with clients, Institutions, business partners & advisors, both in India & overseas.

Maple Capital Advisors has been engaging to create value since 2010 with an established track record of over 50+ successful transactions in M&A, Private Equity, Structured Debt, and Accelerator Investments.

Our Team

Mr. Pankaj Karna

Founder & Managing Director

30+ years of experience in investment and corporate banking; featured by IBEF among India’s top entrepreneurs; former Head of M&A at Grant Thornton and Director at Rabobank. Studied at McGill University, Canada, Manipal Institute of Technology, Manipal, St. Stephen’s College, Delhi and Mayo College, Ajmer.

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Nitin Gupta

Director

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Abhinav Grover

Director – Accelerator

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Manish Johri

Consulting Director

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Aakash Jain

Manager – PE & M&A

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Pankaj Karna

Founder & Managing Director

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  • MBA from McGill University, Canada
  • Bachelor's Degree ( Mechanical Engineering ) from Manipal Institute of Technology
  • Alumni of St. Stephens College and Mayo College, Ajmer
  • Pankaj has over 30 years experience in corporate & investment banking and founded Maple Capital in 2010.
  • Pankaj was Partner and Head of M&A/Lead Advisory at Grant Thornton in India, which he established from start in 2006 (2006- Dec 2009).
  • Part of start up team at Rabo India in 1998 which emerged as one of the leading Corporate finance and Investment banks in the country. Joined as Manager responsible for North India and progressed to Director with roles in Structured Debt, M&A and Relationship Management.(1998-2006).
  • Worked in BNP Paribas(1995-1998) starting with CEO office covering new initiatives like Merchant Banking, Private Banking and progressed to lead Credit in North India and Relationship Management.
  • Established track record in financing & M&A in India having advised on over 100 transactions with emerging and large corporate across key sectors like Food and Agribusiness, New Age Businesses, Telecom, Financial Services, Pharma, Consumer and Manufacturing.
  • Acquisition of Bell Ceramics by Orient Tiles and merger
  • Joint Venture of Manish Arora and Biba Apparels
  • Merger of Nelson India and Best Interiors
  • Acquisition of Mag Industries by Sandhar Technologies
  • Acquisition of RR Enterprises by Kuehne & Nagel
  • American & Efird India investment and Vardhman Joint Venture
  • Focus Brands (Cinnabon) -India Partner and Master Franchise
  • WPP Group acquisition of Châteaux Hospitality
  • Part acquisition-Grover Vineyards by Brindco
  • USD 35 mn Structiured finance for Radisson Mysore by Edelweiss Capital
  • USD 20 mn Private Equity B round in Awfis
  • Private Equity in Nutrihealth Systems by One Health Ventures.
  • Structured finance for Shubham housing by Kotak Mahindra Bank
  • Equipment finance for Jaipuria Beverages from Tata Capital & PNB
  • Structured finance for Pearl Beverages by Ambit Finance
  • Structured term facility to Shubham Housing Development Finance Company by Religare Finvest Limited
  • Term Loan for Brownfield expansion to HTW by Kotak Mahindra Bank
  • Working Capital finance to Nelson Planning & design from Tata Capital
  • Divestment of Hospitality business in Uttaranchal
  • Divestment of cold chain logistics business to Gati
  • Acquisition of Burnol from Reckitt Benckiser
  • Divestment of Dumex India business (Protinex/Farex) to Wockhardt
  • CTEL –offshore acquisition
  • Divestment of Farex for Heinz
  • Divestment of Eli Lilly brands to Nicholas
  • Strategic alliance-Heinz-Dilmah
  • Divestment of Max India-Pharma business to Jubilant Organosys
  • Divestment of biscuits business for Nestle
  • Term Loan for Brownfield expansion to Orient Bell Limited by Tata Capital
  • Structured term debt facility for Biba Apparels Pvt Ltd by Tata Capital
  • USD 60 mn acquisition finance for Bharti Televentures
  • Term & promoter financing for Ranbaxy US operations & its promoters
  • Acquisition financing for Jubilant Organosys US Clinical research business
  • Bridge financing for Max India
  • USD 25 mn structured finance for Modi’s/Distacom investment in Spice Telecom
  • Advised USD 20 mn equity and debt in Saraya Industries by Clearwater Capital
  • Acquisition financing for HTL acquisition by HFCL
  • USD 40 mn equity capital raise for Morepen Laboratories
  • Punj Lloyd- Structured financing for Highway projects
  • Term and Working capital financing to over 100 corporates

Nitin Gupta

Director

  • MBA - Finance from FMS, Delhi
  • B.Tech in Information Technology
  • Nitin is a seasoned professional with over 20 years of experience in Investment Banking, Private Equity and Structured Debt Investment and leads structured finance.
  • He was a part of the founding team which set up the Structured Debt Investment division at Tata Capital Ltd. - the financial arm of Tata Group.
  • Has extensive experience in fund raising and fund deployment across wide range of sectors including manufacturing, financial services, healthcare, real estate and NBFCs.
  • Prior to MBA, he had worked with Satyam computers for 2 years in the dedicated vertical for GE Energy and GE Consumer Finance, USA.
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Abhinav Grover

Director – Accelerator

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  • B.Com (H) from Shri Ram College of Commerce, Delhi University.
  • Abhinav has 15+ years of Work Experience in the field of Investment Banking and currently leads the accelerator initiative.
  • He was part of the initial team at Maple Capital Advisors
  • He began his career as a Management Trainee in the Mergers & Acquisitions division at Grant Thornton and worked his way up the firm to the position of a Senior Analyst
  • He has also been trained at Pepsico India Ltd and Indcap Financial Services
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Manish Johari

Consulting Director

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  • MBA, Finance, Welingkar Institute of Management
  • BE Elelctrical, Malviya National Institute of Technology, Jaipur
  • Mayo College, Ajmer
  • Manish is a seasoned professional with over 20 years of experience in Private Equity, Venture Capital, and M&A advisory.
  • Over his career, he has held leadership roles at Tandem Financials, Tech Cap India, and Agility Ventures, advising high-growth companies on capital raising, growth strategy, and strategic alliances.
  • His transaction experience spans IT, ITES, Media, Life Sciences, and Renewable Energy, combining domain knowledge with hands-on execution across both buy-side and sell-side mandates.
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Aakash Jain

Manager – PE & M&A

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  • CFA Holder
  • BBA, Finance, SP Jain School of Global Management
  • GD Goenka World School, Sohna Road, Gurugram
  • Aakash has over 6 year of experience across private equity, venture capital, and strategic M&A transactions.
  • He has previously worked at Elara Capital, Oxane Partners, Mazars India, and KPMG, with exposure across investment banking, alternative assets, and corporate finance.
  • He has worked closely with leadership teams on deal execution, financial modeling, and investor outreach, with sector experience spanning real estate, infrastructure, healthcare, and consumer products.