№ 47
April · 2026
On the discipline of declining capital.
A note for promoters weighing term sheets that arrive at flattering valuations and ungenerous terms.
No. I · A House of Capital Advisory
Capital,
considered.
A boutique advisory practice serving promoters, boards, and capital allocators with the unhurried discipline of a private office.
Est. 2007
Mumbai · Singapore · London
·
— Founding Note
On the practice of advising capital.
When KTGI was founded, the question was simple: could a capital-advisory practice operate in India with the unhurried discipline of a European private office? The answer, we believed, was yes — provided the firm was prepared to forfeit volume in exchange for considered counsel.
Nearly two decades on, the conviction is unchanged. We accept fewer mandates than the market would offer. We work for promoters and boards whose decisions matter beyond the quarter. We rehearse our recommendations against the lens of the room they will be presented in.
"A house of advice does not chase the transaction. It composes it."
What you will find on these pages is not a brochure. It is an account of how we think, whom we serve, and the disciplines we have refined in the service of capital that intends to endure.
No. II — Practice
Six disciplines, refined in the service of one question.
"What is the right capital for this firm, at this moment, given the next decade we propose to build?"
i.
Capital Readiness
Composing the firm for institutional capital — architecture, governance, and the narrative the board will defend.
Read onii.
Structured Finance
Bespoke instruments — debt, mezzanine, private credit — engineered around the firm's cash-flow shape.
Read oniii.
Transaction Advisory
Sell-side and buy-side counsel from board mandate through closing. Discreet, deliberate, never desperate.
Read oniv.
CFO Office Counsel
Senior finance leadership embedded in promoter organisations — architecture, MIS, and the board pack rebuilt.
Read onv.
ESG & Sustainable Finance
Green bond frameworks, transition finance, and carbon-credit monetisation — credibly engineered.
Read onvi.
Board Strategy
Decision architecture, scenario design, and governance counsel for promoter and institutional boards.
Read onNo. III — Letters
Recent correspondence.
№ 46
March · 2026
The patience premium.
Why long-cycle Indian assets remain mispriced — and how patient boards quietly compound the difference.
№ 45
February · 2026
The CFO as composer.
Re-framing the finance function from reporter to architect — and the demands this places upon the modern board.
— By Introduction
A small house, by deliberate design.
We accept a limited number of engagements each year. Should you wish to correspond, please write.
Compose a Letter