the beginnings

Sapan Karia
2 min readMay 30, 2020

Rushit and I are friends since eternity (almost 17 years). Pillars of coincidence as both scored exactly similar grades in boards, 74% in 12th, 64% in HSC. Neither of us could make it to the top 10 colleges in Ahmedabad (Tier II city) in Gujarat, India. Luckily, we had some lobbying channels in the college which helped us get through the admission. As if it weren’t enough, we started planning our coincidences (I need an upgrade in my vocabulary) and joined CS (please do not assume computer science) we weren’t that smart, instead it was CS (company secretary) — probably one of the most regretful decisions of our lives.

Coming from a typical, conservative & a business-oriented family, we had no guidance but almost all the freedom to choose the education we intended to pursue. We decided to pursue CS. Different from the herd back then who opted for CA, (they are working for some top-notch companies now) we thought, we were doing the right thing.

The overconfidence in our decision lasted for about 2 years until I moved from Ahmedabad to Mumbai in 2013. Rushit didn’t clear the second level and choose to do something smarter than that. He joined his decades-old family business in automobile ancillaries.

I moved to Mumbai in 2013 after completing the second level in CS. I joined a practicing company secretary firm and completed my internship.

I was passionate about joining a merchant bank/investment bank. Now, this may not be a surprise, but hey — merchant banking is cool. Suiting up, meeting clients, staying in fancy hotels, demanding attention at the age of 22 is fascinating. Merchant banking/investment banking is a place for all top tier engineering & business school graduates, some CAs, and CFAs. For a CS, this is much bigger than a surprise.

I was lucky and somehow managed to join Pantomath Capital in the merchant banking team in January 2015 after completing my internship. I was among the first 10 employees of Pantomath. It was a boutique merchant bank back then. I was away from the typical regulatory work of a CS to quite an interesting work profile as a merchant banker. (I had this tendency to introduce myself as an investment banker — the Zindagi Na Milegi Dobara obsession).

I was fortunate to have some extraordinary gentlemen at Pantomath who inspire me through their vision and work ethic — Mahavir Lunawat and Saahil Kinkhabwala. Traveling to places, working 75–80 hours a week &, meeting interesting businessmen (sometimes entrepreneurs) was fascinating for me. Some incidences, some stories, and some lucrative financial statements — my preferences for career were subconsciously making a shift.

Read up the next post to understand our thought process and humble beginnings.

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Sapan Karia

Penning down my experiences of starting up a business through stories.