Dear friends and well-wishers of Kampani Capital,

The holidays are done, the economic engines are beginning to roar, the investment purses are opening up, M&A Deal Activity is zooming – clearly its time for the Business end of the year as we leave behind the sluggishness of Quarter 1, FY 26. India has stood out like a Beacon of Hope across all the geo-political turmoil in Central Asia / the Middle East and it is with this tailwind that we are now seeing a steady uplift in some sectors across the economy.

While a lot of our earlier newsletters have spoken about the “Services economy” including Hospitality, Aviation, Logistics, Deep Tech and the like, it seems like this financial year will be the return of the old warrior – Manufacturing. In the last few weeks, we have seen a big spurt in local Family Offices as well as Global investors asking us to show them more and more deals in spaces like Engineering, Electronic Manufacturing, Semiconductors, Auto Components, Durables, Food Processing, Personal Effects and Real Estate. This is clearly music to a lot of policy maker’s ears since the multiplier effect of jobs in the Manufacturing Sector is a big trigger to higher consumption in semi-urban and urban areas.

Another space which is seeing a lot of policy push is on the MSME side and we expect that there will be an increasing interest from some of our Family Office / Asset Manager clients to take significant debt/equity positions in this space in the next 12-18 months.Given that global markets are likely to remain choppy for the next few quarters, there is also a clear tilt towards firms that focus more on local consumption rather than export markets.Make in India will now also be Sell in India!

Before I conclude, Sowmya and I would like to formally welcome Mohit from Dubai into the Kampani Capital family. The Middle East has traditionally been one of India’s closest partners and we hope to capture this Corridor of capital as well as Corporate Deal flow with Mohit being the anchor of our growth story. Over the next few weeks, we look forward to meetings with some of our Fund manager and Family Office clients with roadshows planned for Mumbai and Baroda.

Till we meet next month, keep the economic engines purring…

Amar Kampani

CEO and Founder,

Kampani Capital (a Division of Anak Consulting LLP)

27th June 2025