Salman Virani, Finance Expert in Toronto, ON, Canada
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Salman Virani

Verified Expert  in Finance

Finance Expert

Location
Toronto, ON, Canada
Toptal Member Since
October 5, 2020

Salman is an enterprising finance expert with nearly 15 years of experience advising sponsor groups and C-level executives on corporate finance initiatives. He has directly executed deals worth around $3 billion (in aggregate), including mergers and acquisitions, financings, and capital markets across multiple geographies and a broad range of sectors. Through freelancing, Salman seeks opportunities to meet new people, take on new challenges, and put his global finance expertise to work.

Transaction AdvisoryMarket SegmentationFinancial ForecastingDue Diligence ConsultantFinancial ModelingValuationMergers & Acquisitions (M&A)Capital MarketsFinancial Planning & Analysis (FP&A)Project FinanceMarket ResearchFinancial ReportingCross-border M&AFundraisingRevenue & Expense Projections

Career Highlights

Managing Director, Investment Banking
Next Capital Limited
Senior Vice President and Head of Investment Banking
BMA Capital Management Limited
Senior Manager, Investment Banking
Habib Bank Limited

Certification Highlights

Financial Modeling and Valuation Analyst
Corporate Finance Institute
Chartered Financial Analyst (CFA)
CFA Institute
Fellow Chartered Accountant
Institute of Chartered Accountants of Pakistan

Case Studies

Expertise

Corporate RestructuringDebt RaisesFinancial ModelingFinancial Planning & Analysis (FP&A)FundraisingInvestmentsMergers & Acquisitions (M&A)Valuation

Work Experience

Managing Director, Investment Banking

2019 - 2021
Next Capital Limited
  • Developed the financial model of Pakistan’s second-largest FMCG with a market cap of about $300 million; incorporated existing and proposed infrastructure, enhanced working capital, and funding needs for staples, fats, and animal feed businesses.
  • Advised the sponsors of an FMCG on their group's corporate restructuring and fundraising of $15 million from a Singapore-based global agriculture commodity giant via a PIPE structure.
  • Led the divestment of Orascom Telecom Egypt's subsidiary in Pakistan with interests in consumer broadband and submarine cable with a 40% market share and presence in both backhaul and FTTH business segments.
  • Steered the private placement and subsequent listing of $15 million in Common Equity Tier 1 (CET1)-eligible Sukuk for the fastest-growing Islamic bank in Pakistan.
  • Advised on the financial restructuring of a company engaged in providing digital security and managed services.
  • Structured the deal and lead fundraising for a $500 million REIT based out of UAE and Pakistan. Developed detailed financial projections, oversaw legal documentation, crafted information memorandum, and managed submissions with regulators.
  • Led the business plan and pitchbook development for an edtech company with a presence in the Americas, MENA, and Asia regions. The company provides early learning, K-12, iSTEAM, and leadership education through digital channels and at affordable rates.
Focus areas: Technology, Due Diligence, Venture Capital, Real Estate, Cash Flow Modeling, Due Diligence Consultant, Venture Funding, Software as a Service (SaaS), SaaS, M&A (Sell-side), Financial Services, Investment Banking, Startup Funding, IFRS Financial Reporting, Forecasting, Revenue & Expense Projections, M&A (Buy-side), Microsoft Outlook, Microsoft Word, Debt Raises, Corporate Restructuring, Microsoft Excel, Fairness Opinion Reports, Finance, Valuation, Financial Modeling, Financial Restructuring, Fundraising, Mergers & Acquisitions (M&A), Key Performance Indicators (KPIs), Dashboard Design, Business Models, Accounting, Taxation, Debt Issuance, Financial Analysis, Transaction Advisory, Pitch Presentations, Education, Equity Raises, Growth Equity, Equity Valuation, Project Finance, Capital IQ, Bloomberg, Leveraged Buyout Modeling, Capital Markets, Debt Capital Markets, Corporate Finance, Budgeting, Reuters Eikon, M&A Modeling, Valuation Modeling, Term Sheet Advisory, Term Sheet Negotiations, Market Research, Market Segmentation, Total Addressable Market (TAM), Financial Reporting, Three-statement Modeling, Debt Financing, Credit Analysis, Cross-border M&A, Pitch Decks, Modeling, Analysis of Variance (ANOVA), Financial Forecasting, Operating Models

Senior Vice President and Head of Investment Banking

2017 - 2019
BMA Capital Management Limited
  • Advised Cargill Asia Pacific on a $30 million acquisition of a minority shareholding in FAP Terminal.
  • Provided advisory to Essity AB on the divestment of its operations in Pakistan.
  • Led the placement and listing of an $80 million CET1-eligible bond for United Bank Limited.
  • Spearheaded the $30 million equity fundraising via capital markets and the listing of AGP Limited, an Indian pharmaceutical company.
  • Conducted a $20 million fundraising (debt and equity) for setting up a hospitality cum residential real estate project.
  • Led the corporate restructuring and business plan development for Octopus Digital Limited, a subsidiary of Avanceon, one of the leading IIoT service providers in the MENASA region with a presence in North America as well.
  • Prepared tariff models for two 50MW solar PV power plants with a combined project cost of US$ 100 million.
Focus areas: Technology, Due Diligence, Venture Capital, Real Estate, Cash Flow Modeling, Due Diligence Consultant, Venture Funding, Software as a Service (SaaS), SaaS, M&A (Sell-side), Financial Services, Investment Banking, Startup Funding, IFRS Financial Reporting, Forecasting, Revenue & Expense Projections, M&A (Buy-side), Microsoft Outlook, Microsoft Word, Debt Raises, Corporate Restructuring, Microsoft Excel, Fairness Opinion Reports, Finance, Valuation, Financial Modeling, Debt Capital Markets, Capital Markets, Fundraising, Mergers & Acquisitions (M&A), Key Performance Indicators (KPIs), Dashboard Design, Business Models, Biotechnology, Accounting, Taxation, Financial Analysis, Pitch Presentations, Equity Raises, Growth Equity, Equity Valuation, Project Finance, Capital IQ, Bloomberg, Leveraged Buyout Modeling, Corporate Finance, Budgeting, Reuters Eikon, M&A Modeling, Valuation Modeling, Term Sheet Advisory, Term Sheet Negotiations, Market Research, Market Segmentation, Total Addressable Market (TAM), Financial Reporting, Three-statement Modeling, Debt Financing, Credit Analysis, Cross-border M&A, Pitch Decks, Modeling, Analysis of Variance (ANOVA), Financial Forecasting, Operating Models

Corporate Finance Manager

2016 - 2017
Midas Safety
  • Undertook the consolidation of subsidiaries into a Hong Kong-based holding company to create finance and tax synergies.
  • Evaluated banking needs and led the development of alternate relationships. Reduced finance costs by approximately 13% by renegotiating facilities in Bangladesh and Sri Lanka and, consequently, banking concentration.
  • Developed KPI dashboards to monitor business performance and identify non-viable business lines and dilutive SKUs. Implemented a “fix or close” framework, which reduced costs by $6 million.
Focus areas: Due Diligence, Cash Flow Management, Cash Flow Modeling, M&A (Sell-side), Investment Banking, CFO, IFRS Financial Reporting, Forecasting, Revenue & Expense Projections, Corporate Development, Investments, M&A (Buy-side), Pricing Models, Microsoft Outlook, Microsoft Word, Debt Raises, Corporate Restructuring, Microsoft Excel, Finance, Valuation, Financial Modeling, Financial Restructuring, Corporate Finance, Key Performance Indicators (KPIs), Dashboard Design, Business Models, Accounting, Taxation, Portfolio Management, Debt Issuance, Financial Analysis, Transaction Advisory, Pitch Presentations, Equity Valuation, Project Finance, Budgeting, M&A Modeling, Valuation Modeling, Term Sheet Advisory, Term Sheet Negotiations, Market Research, Market Segmentation, Market Research Analyst, Total Addressable Market (TAM), Financial Reporting, Three-statement Modeling, Debt Financing, Cross-border M&A, Modeling, Analysis of Variance (ANOVA), Financial Forecasting, Financial Statements, Operating Models

Financial Planning and Analysis Manager

2015 - 2016
Kansai Paint Middle East
  • Led and completed the annual planning and budgeting exercise for eight subsidiaries in the MENA and CIS regions within one month.
  • Assisted in the turnaround of a $15 million business in the UAE by reviewing pricing strategy, cost controls, and monitoring efficiency benchmarks for full-service application projects.
  • Spearheaded a debt raising worth $6 million from the Islamic Corporation for the development to fund the company's accelerated growth plans.
  • Conducted the acquisition of a Saudi industrial paint company.
  • Raised $11 million for setting up an automotive paint manufacturing plant in Morocco and a paint resin manufacturing facility in the UAE.
Focus areas: Due Diligence, Cash Flow Management, Cash Flow Modeling, Investment Banking, CFO, IFRS Financial Reporting, Forecasting, Revenue & Expense Projections, Corporate Development, Investments, M&A (Buy-side), Pricing Models, Microsoft Outlook, Microsoft Word, Microsoft Excel, Finance, Valuation, Financial Modeling, Financial Planning & Analysis (FP&A), Debt Raises, Mergers & Acquisitions (M&A), Key Performance Indicators (KPIs), Business Models, Accounting, Taxation, Portfolio Management, Debt Issuance, Financial Analysis, Pitch Presentations, Equity Raises, Growth Equity, Equity Valuation, Project Finance, Leveraged Buyout Modeling, Corporate Finance, Budgeting, M&A Modeling, Valuation Modeling, Term Sheet Advisory, Term Sheet Negotiations, Market Research, Market Segmentation, Market Research Analyst, Total Addressable Market (TAM), Financial Reporting, Three-statement Modeling, Debt Financing, Cross-border M&A, Pitch Decks, Modeling, Analysis of Variance (ANOVA), Financial Forecasting, Financial Statements, Operating Models

Senior Business Analyst

2014 - 2015
Engro Corporation Limited
  • Spearheaded the debt raising of $92 million for setting up Pakistan’s first LNG regasification terminal from a consortium comprising the Asian Development Bank, International Finance Corporation, and domestic commercial banks.
  • Led the divestment of a 20% shareholding in the LNG regasification terminal to International Finance Corporation for $15 million.
  • Assisted in reviewing and negotiating the loan documentation for a $2 billion coal mine and power project.
  • Enhanced shareholder returns by $45 million per year in an agribusiness by identifying operational restructuring and cost optimization opportunities.
Focus areas: Due Diligence, Cash Flow Management, Cash Flow Modeling, Due Diligence Consultant, M&A (Sell-side), Investment Banking, CFO, IFRS Financial Reporting, Forecasting, Revenue & Expense Projections, Corporate Development, Investments, M&A (Buy-side), Pricing Models, Microsoft Outlook, Microsoft Word, Debt Raises, Corporate Restructuring, Microsoft Excel, Finance, Valuation, Financial Modeling, Financial Planning & Analysis (FP&A), Fundraising, Mergers & Acquisitions (M&A), Key Performance Indicators (KPIs), Business Models, Accounting, Taxation, Portfolio Management, Debt Issuance, Financial Analysis, Transaction Advisory, Pitch Presentations, Equity Raises, Growth Equity, Equity Valuation, Project Finance, Capital IQ, Bloomberg, Leveraged Buyout Modeling, Capital Markets, Debt Capital Markets, Corporate Finance, Budgeting, M&A Modeling, Valuation Modeling, Term Sheet Advisory, Term Sheet Negotiations, Market Research, Market Segmentation, Total Addressable Market (TAM), Financial Reporting, Three-statement Modeling, Debt Financing, Pitch Decks, Modeling, Analysis of Variance (ANOVA), Financial Forecasting, Financial Statements, Operating Models

Senior Manager, Investment Banking

2009 - 2014
Habib Bank Limited
  • Served as a founding team member of the advisory and equity capital markets business unit of Habib Bank.
  • Led the $162 million acquisition of Chevron's retail and fuel business by Total in France.
  • Spearheaded the $30 million acquisition of a 50% shareholding in Total Oils and 10% incremental shareholding in Total Parco Pakistan by Pak Arab Refinery.
  • Conducted the $60 million acquisition of Habibsons Bank Ltd by Habib Bank Limited (HBL Bank UK), resulting in a synergistic transaction and expansion of the private banking offering in the UK.
  • Guided the $20 million acquisition of Citibank's consumer business by Habib Bank Limited to expand its presence in the personal banking segment.
  • Led the $160 million secondary public offering of Pakistan Petroleum Limited.
  • Spearheaded the debt raising of $220 million with a limited-recourse structure for two 50MW wind power projects set up under a public-private partnership (PPP) model.
  • Advised on and participated in arranging $350 million in debt financing with a limited-recourse structure for setting up a 147MW run-of-the-river project under a PPP model.
  • Led the business plan development, private placement, and subsequent listing of Avanceon Limited one of the leading system controls and process automation providers in the MENASA region.
Focus areas: Due Diligence, Real Estate, Cash Flow Modeling, Due Diligence Consultant, M&A (Sell-side), Financial Services, Investment Banking, IFRS Financial Reporting, Forecasting, Revenue & Expense Projections, Investments, M&A (Buy-side), Microsoft Outlook, Microsoft Word, Corporate Restructuring, Microsoft Excel, Fairness Opinion Reports, Finance, Valuation, Financial Modeling, Debt Raises, Project Finance, Capital Markets, Fundraising, Mergers & Acquisitions (M&A), Dashboard Design, Business Models, Accounting, Taxation, Debt Issuance, Transaction Advisory, Pitch Presentations, Equity Raises, Growth Equity, Equity Valuation, Capital IQ, Bloomberg, Leveraged Buyout Modeling, Debt Capital Markets, Corporate Finance, Budgeting, M&A Modeling, Valuation Modeling, Term Sheet Advisory, Term Sheet Negotiations, Market Research, Market Segmentation, Market Research Analyst, Total Addressable Market (TAM), Financial Reporting, Three-statement Modeling, Debt Financing, Credit Analysis, Cross-border M&A, Pitch Decks, Modeling, Analysis of Variance (ANOVA), Financial Forecasting, Operating Models

Engagement Senior

2006 - 2009
Ernst & Young
  • Led multi-disciplinary teams within transaction advisory services and, earlier, in assurance. Managed projects, determined execution strategies, and guided the teams.
  • Conducted due diligence, valuation, and audits in the financial, utilities, energy, and manufacturing sectors.
  • Undertook a feasibility study for Pakistan Security Printing Corporation to evaluate a CAPEX investment in an additional note printing facility.
Focus areas: Due Diligence, Due Diligence Consultant, IFRS Financial Reporting, Forecasting, M&A (Buy-side), Microsoft Outlook, Microsoft Word, Microsoft Excel, Valuation, Financial Modeling, Transaction Advisory, Audits, Big 4 Accounting, Key Performance Indicators (KPIs), Dashboard Design, Business Models, Accounting, Taxation, Financial Analysis, Education, Equity Valuation, Leveraged Buyout Modeling, Budgeting, M&A Modeling, Valuation Modeling, Financial Reporting, Three-statement Modeling, Cross-border M&A, Modeling, Analysis of Variance (ANOVA), Financial Statements
AUGUST 2020 - PRESENT

Financial Modeling and Valuation Analyst

Corporate Finance Institute

OCTOBER 2015 - PRESENT

Chartered Financial Analyst (CFA)

CFA Institute

SEPTEMBER 2009 - PRESENT

Fellow Chartered Accountant

Institute of Chartered Accountants of Pakistan