Dhruval Shah

CEO

Mumbai, Maharashtra, India10 yrs 7 mos experience

Highly Stable

Key Highlights

Over 10 years in treasury and capital markets
Led multi-billion-dollar transactions successfully
Expert in liquidity management and investor relations

Stackforce AI infers this person is a Treasury and Capital Markets expert with a strong focus on fundraising and liquidity management.

Contact

Skills

Core Skills

Fund RaisingInvestor RelationsLiquidity ManagementInvestment ManagementCapital Markets

Other Skills

Annual ReportsBloomberg AnalyticsBond MarketsCross-functional CollaborationsDeal ClosureDebt ManagementFX SwapsNegotiationRelationship ManagementStructured ProductsTeam Management

About

Treasury and capital markets professional with 10+ years of experience across fund raising, investments, liquidity management, investor relations and corporate finance in global and Indian financial institutions. Proven track record of driving multi-billion-dollar transactions, optimizing liquidity, and building high-impact treasury functions. Currently leading Treasury & DCM at Stashfin, spearheading fund-raising across banks, NBFCs, AIFs, and venture debt funds through term loans, NCDs, ECBs, and structured borrowings. Previously managed Revolut’s GBP 6 bn investment and liquidity portfolio across 25+ currencies, scaling FX swaps and term deposit books while contributing ~30% of group P&L. Earlier, at Indiabulls Housing Finance, executed multiple large fund raising transactions, including marquee ECBs, masala bonds, and equity issuances. Skilled in fund raising, fixed income, FX swaps, derivatives & hedging, ALM, liquidity forecasting, and treasury automation. Adept at cultivating strategic banking relationships, negotiating favorable terms, and ensuring regulatory compliance. CFA Level II cleared | MMS (Finance) – Jamnalal Bajaj Institute of Management Studies | BE (Computer Engineering)

Experience

Stashfin

Vice President - Debt Capital Markets, Treasury

Jan 2025 – Present · 1 yr 2 mos · On-site

Lead fund-raising initiatives across diverse lender and investor classes, including Banks, NBFCs, AIFs, Venture Debt funds, and HNIs.
Structure and secure funding through multiple instruments such as Term Loans, Non-Convertible Debentures (NCDs), External Commercial Borrowings (ECBs), and structured borrowings.
Manage end-to-end execution of fund-raising transactions, including credit due diligence, documentation, drawdowns, and post-disbursement compliance.
Cultivate and maintain long-term relationships with banks, NBFCs, and market participants, including arrangers
Negotiate favorable terms for various financial transactions in collaboration with internal stakeholders
Ensure proper dissemination of periodic MIS to lenders, and handle post disbursal monitoring
Stay updated about changes in regulatory guidelines related to treasury management and implement necessary adjustments to ensure compliance

Fund RaisingInvestor RelationsNegotiationDeal ClosureCross-functional CollaborationsBond Markets+1

Revolut

Treasury & Investments Manager

Jun 2022 – Dec 2024 · 2 yrs 6 mos · Mumbai, Maharashtra, India · Remote

Orchestrated a multi-billion FX Swaps, Term Deposits, Reverse Repo and HQLA Bonds portfolio, generating robust returns on surplus cash, in a KPI-driven environment
Prudently optimized daily cash and liquidity management across 25+ currencies for Revolut Ltd and its regional entities, ensuring seamless coverage of short-term operational needs and long-term financial commitments
Led the development and implementation of advanced cash forecasting models, ensuring accurate short- and long-term liquidity projections to support strategic decision-making and mitigate financial risks, also enabling the optimisation of Revolut’s liquidity profile
Designed and implemented advanced cash flow analytics to forecast daily multi-currency inflows and outflows, leveraging customer behavior patterns to enhance liquidity planning, strengthen forecasting accuracy, and automate treasury decision-making processes
Leveraged Bloomberg and Excel models to analyze FX swap premiums across currency pairs, identifying seasonal and market-driven trends, enabling precise timing of executions to optimize trade execution and enhance profitability

Investment ManagementLiquidity ManagementFX SwapsInvestor RelationsCapital MarketsTeam Management+2

Indiabulls housing finance ltd

4 roles

Chief Manager Treasury

Promoted

Jun 2019 – May 2022 · 2 yrs 11 mos · Mumbai, Maharashtra, India

Executed diverse fund-raising strategies for the Indiabulls Group through various debt instruments (Non-Convertible Debentures, Term Loans Masala Bonds, Multi-Currency External Commercial Borrowings, Dollar Bonds, Commercial Papers, Corporate / Government Security Repurchase Agreement, Pass Through Certificates) & equity / quasi-equity sources (Qualified Institutional Placement, Foreign Currency Convertible Bonds, Rights issues).
Cultivated relationships with banks, mutual funds, insurance companies, provident funds and other international investors, investment bankers, intermediaries, brokers, credit rating agencies for raising debt & equity funding.
Responsible for overseeing the entire investment portfolio of cash surplus for the company and maintaining credit quality of the investment portfolio (Government Securities, Certificate of Deposits, Bonds, Mutual Funds, Commercial Paper). Part of the investment committee in the company.
Supervised daily cash flow management and ensured timely investment of daily investable cash surplus to minimize negative carry.
Headed the derivatives desk which primarily deals in interest rate swaps, cross currency swaps and forwards.
Risk Management for the treasury and hedge accounting policy implementation for all derivative contracts.

Fund RaisingInvestor RelationsCapital MarketsDebt ManagementDeal ClosureTeam Management+2

Senior Treasury Manager

Jun 2017 – Jun 2019 · 2 yrs · Mumbai, Maharashtra, India

Deal ClosureInvestor RelationsCapital MarketsDebt ManagementAnnual ReportsTeam Management

Treasury Manager

Promoted

Jun 2016 – Jun 2017 · 1 yr · Mumbai, Maharashtra, India

Deal ClosureInvestor RelationsCapital MarketsDebt ManagementAnnual Reports

Management Trainee Program

Jun 2015 – Jun 2016 · 1 yr · Mumbai, Maharashtra, India

Deal ClosureInvestor RelationsCapital MarketsDebt ManagementAnnual Reports

Cimb

Summer Intern

Apr 2014 – Jun 2014 · 2 mos · Mumbai, Maharashtra, India · On-site

Tracked Havells India Ltd and the broader electricals and consumer durables sector, preparing regular updates for the equity research team.
Conducted financial statement analysis, ratio benchmarking, and peer comparison to assess company performance.
Assisted in building and updating valuation models (DCF, multiples) to support stock recommendations.
Contributed to sector research notes by monitoring industry trends, market data, and regulatory developments.