Contact

Rumman Dar
www.linkedin.com/in/rummandar Identifying opportunities, implementing business & investment
(LinkedIn) strategies to achieve growth and optimising utilisation of limited
resources
Top Skills Lahore District, Punjab, Pakistan
Financial Analysis
Financial Modeling Summary
Corporate Finance Over 20 years of experience in management consultancy,
project financing, investments, project development, operational
Languages management, strategy and policy development.
English
Urdu Significant experience in debt and equity arrangement for mega-
infrastructure projects and extensive experience in arrangement of
short- and long-term debt for ongoing manufacturing concerns in
a tough emerging market. Successfully generated and concluded
transactions of a cumulative ticket size in excess of US$ 1.5 billion,
by successfully negotiating with regulators & government officials,
financiers, equity investors, contractors/suppliers and operators from
various countries. Regular panelist at energy conferences.

At Master Group, I currently hold multiple positions with a key focus

on group-wide financial management, investment and strategy.
I have spearheaded the group's investment into various sectors/
domains including energy, stocks, start-ups/VCs and most recently
real-estate. As the Group Director Finance I also manage the group's
overall banking relationships with both local and foreign financiers.

I also hold the position of Chairman at Pakistan Wind Energy

Association.

Areas of expertise:
• Government Relations
• Transaction Structuring
• Investment Banking
• New Business Development
• Strategy and Policy Development
• Global Strategic Alliances
• High-Stake Negotiations
• Operations Management

Page 1 of 9
• Risk Management
• Corporate Governance
• Investor & Board Relations
• Project Financing
• Due Diligence
• Financial Analysis & Planning
• Financial & Mgt. Consultancy

Experience
IMM REIT Management Company Ltd.
Chief Executive Officer
April 2022 - Present (2 years 1 month)
Lahore, Punjab, Pakistan

Diversifying the group’s investment portfolio to include the real estate and
financial services sector – fund management services. The company is the
group’s first joint-venture with a third-party namely Izhar Mannoo Developers
(Pvt.) Ltd.

Ensuring compliance of the RMCs operations with SEC-Pakistan regulations

pertaining to fund management companies. Seeking out new projects and
overseeing their return assessment exercise. Supervising preparation of
investor memorandums, presentations and other ancillary documentation
required for solicitation of interest from financial institutions and HNW
individuals through private placements. Leading the team negotiating
development and project management contracts, unit holder contracts, land
acquisition contracts, etc. with counter parties.

Coordinating with and maintaining good working relationship with the

group’s JV partners – negotiating with JV partners on the shareholder’s
agreement leading up to its execution and subsequent implementation.
Providing guidance to the team for preparation of cost and revenue budgets for
submission to the board for approval.

Master Group of Industries

9 years 1 month

Group Director Finance

February 2022 - Present (2 years 3 months)
Lahore, Punjab, Pakistan

Page 2 of 9
Supporting the board in strategic financial decisions at a group level.
Overseeing financing requirements, debt & equity, of various group companies
operating in different sectors – automotive, engineering, textiles, energy,
bedding and retail.

Maintaining relationships with SEVP / Group Head’s at banks – local and

foreign – on behalf of the group. Assessing overall debt exposure of the group
and working with each group company’s board representative to maintain it at
an acceptable level. Conducting risk assessment of the group as a whole and
each individual company.

Working together with CFOs of different group companies to ensure

adherence to KPIs. Reviewing projected financial statements prior to their
presentation to the board, providing feedback to assess financial results based
on different macro-economic scenarios. Identifying ideal debt: equity structure
and assisting companies in raising debt (or equity) financing to achieve it.

Director - New Business & Investments

April 2015 - Present (9 years 1 month)
Lahore, Punjab, Pakistan

New Business:
- Liaison with potential partners for identification of business opportunities
- Overseeing formation of business plan for seeking board approval
- Participation in bids for developmental projects on offer
- Arrangement of funding - debt and equity through DFIs, commercial banks,
equity funds, etc.
- Development of team for implementation of projects, pre- and post- FC.

Investments: Supported by research analysts, overseeing stock market

investment portfolio of Master Group. Supervising evaluation of start-ups and
VCs for potential investment

Major Achievement: Successful in first ever tariff-based competitive bidding

held in power sector in Pakistan AND successfully arranged financing for all
projects undertaken by the group.

Pakistan Wind Energy Association

Chairman
March 2020 - Present (4 years 2 months)
Karāchi, Sindh, Pakistan

Page 3 of 9
Formerly General Secretary of the Pakistan Wind Energy Association
(PakWEA). Instrumental in formalization and formation of PakWEA.

- Representing association members at high level meetings with government

officials
- Negotiating the MoU, on behalf of the entire wind power sector, with the
government for reduction in tariffs of operational wind farms
- Liaising with the government for development of the new renewables policy
- Advocating for a larger share of wind generation in the energy mix
- Supporting government departments in securing funding for promoting
development of local technical expertise in O&M of wind power projects
- Taking up issues being faced by operational wind power projects with
relevant departments in the government
- Overseeing CSR initiatives of the industry for optimum utilization of available
funding
- Working with the government on devising mechanism for moving from feed-
in to competitive bidding tariff regime including development of RFPs and
modifications required in concession agreements

Master Wind Energy Limited

Chief Operating Officer
April 2015 - Present (9 years 1 month)
Lahore, Punjab, Pakistan

52.8MW wind power project developed under feed-in tariff regime at a cost of
US$132 mil.; plant commenced commercial operations in Oct. ’16.

Chief Operating Officer 2018 – Present;

Chief Executive Officer 2018 –2022;
Chief Operating Officer 2015 – 2018.

Developing the project from infancy to financial close all the way to
commencement of commercial operations. Led the effort for finalization of
EPC contracts and arrangement of financing for the project. First power sector
project in Pakistan to secure release of sponsor securities and pay a dividend
in less than a year after commencement of operations.

Prior to Financial Close

- Arrangement of US$ 100 Million debt through U.S. DFC and local financiers.
- Negotiation with power purchaser and other governmental entities.
- Finalization of EPC and O&M contracts.

Page 4 of 9
Post Financial Close
- Liaising with high-ranking government officials & financiers to maintain good
working relationships
- Managed construction issues in collaboration with EPC contractors, lenders
technical advisor and internal and external construction management teams.
- Achieving operational targets while minimizing cost of operations to enhance
the bottom line
- Renegotiating O&M agreement to remove redundancies and reduce cost of
operation
- Ensuring compliance with financial covenants for timely payment of dividends
- Responding to internal queries raised by the managing director and board of
directors

Master Green Energy Ltd.

Chief Operating Officer
April 2015 - Present (9 years 1 month)
Lahore, Punjab, Pakistan

50.0MW wind power project developed under cost-plus tariff regime at a cost
of US$64 million comprising of 25 x 2.0MW Siemens Gamesa wind turbines;
project achieved financial close in Aug. ’19 and commenced operations in Aug.
’21.

Chief Operating Officer 2018 – Present;

Chief Executive Officer 2018 –2022;
Chief Operating Officer 2015 – 2018.

- First in line of projects to achieve financial close and commence construction

in 2019 wind cluster of 610MW (cumulative) projects
- Arranged financing of US$51.2 mil. (approx.) through ICD and local financiers
- Successfully mitigated the financial impact faced by the project during its
construction phase due to COVID-19
- Overseeing construction activities; this comprised of management of the
project’s own construction supervision team, the project-side technical
consultants’ construction and design supervision team, EPC contractor’s
construction management team and coordination with the lender’s technical
consultant.
- Maintaining cordial working relationships with relevant government
departments

Page 5 of 9
- Successfully led the team carrying out project development activities –
including but not limited to, obtaining a letter of intent, issuance of tariff and
generation license, negotiating EPC and O&M contracts, arrangement of
financing of US$51.2 million through consortium of local banks and foreign
DFI, negotiation on financing documents, negotiation & execution of power
purchase and implementation agreement with government entities, etc.
- First project to achieve tariff adjustments from the regulator post-achievement
of commercial operations

Master Hydro Pvt. Ltd.

Chief Operating Officer
December 2018 - Present (5 years 5 months)
Lahore, Punjab, Pakistan

99.0MW hydro power project to be developed under competitive bidding tariff

regime at a cost of US$214.55 million; project is in development phase

Chief Operating Officer 2018 – Present;

Chief Executive Officer 2018 –2022.

- First project to be awarded through tariff based competitive bidding in

Pakistan
- Ensuring compliance with registration, qualification and bidding requirements
- Seeking internal board approvals for pursuing the project – delivering
presentations and responding to queries raised by board members. Providing
update to the board on bid price, terms negotiated with EPC, turbine supplier
and financiers.
- Engaging with EPC contractors and turbine suppliers to obtain optimum
pricing while complying with technical parameters of bidding documents
- Overseeing optimization of design in order to achieve cost reduction while
maintaining or enhancing energy yield
- Preparing collateral for engaging with financiers to obtain letters of intent of
US$161 mil. to meet bidding requirement
- Negotiating with financiers to achieve lowest possible spread with longest
tenor to reduce levelized cost of tariff
- Providing guideline to the team for preparation, review and finalization of bid
- Delivering presentation to the regulator for award of bid tariff after selection
as the ‘Preferred Bidder’
- Continuing engagement with various provincial and federal government
bodies to pursue development activities

Page 6 of 9
Bridge Factor
Partner
December 2008 - July 2015 (6 years 8 months)
Islamabad, Pakistan

Business Development
• Identifying new prospects to bring new business; delivering presentations to
BOD
• Conceiving business opportunities end-to-end and developing and
communicating relevant collateral
• Oversaw proposal development and preparation of response to RFPs for
advisory services
• Responding to client queries; maintaining working relationship with clients
• Interacting with governmental agencies / authorities and maintaining cordial
working relationship
• Conducting road shows and delivering presentations for arrangement
financing for projects
• Collaborating with legal, technical, environmental teams during due diligence
• Preparing financial feasibility, tariff petition, & tariff presentation for numerous
power sector projects

Transaction Structuring
• Devising favourable transaction structures keeping in view specific situation /
constraints
• Ensured tax efficiency for each structure
• Arranged financing and achieved FC for projects based on conventional PF
as well as Shariah compliant financing
• Developed workable vendor based financing structures
• Supplemented project security structures utilising financial insurance / ECAs

Commercial Negotiation
• Negotiated and finalised proposals submitted to clients for award of
mandates
• Successfully negotiated loan documentation (CTA, AA, SSA, facility
agreements and ITS / mandates) for numerous transactions
• Worked with various lenders including ADB, IsDB, OPIC, IFC, ICBC, CDB,
BOC, ETDB, Sinosure and leading Pakistani FIs
• Successfully negotiated SPAs and SHAs
• Negotiated EPC and O&M contracts totalling over USD 900m with
contractors from numerous countries

Page 7 of 9
Financial Modeling & Forecasting
• Oversaw development of models for (1) debt financing, (2) valuation for buy-
side, and (3) arrangement of equity (sell-side)
• Ensured incorporation of all commercial aspects of contracts enabling
detailed risk / return analysis
• Interfaced with lenders and equity investors on due diligence queries

Cleantech (Private) Limited

Managing Director
March 2003 - November 2008 (5 years 9 months)
Entrepreneurial
• Successfully managed operations of family business for 6 years
• Managed workforce of over 50 employees spread over 3 different geographic
locations
• Developed self-operating professional management team
• Increased sales by over 180% through sales & marketing strategies and
forward vertical integration
• Motivated sales force by streamlining commission procedure
• Successfully deferred debt repayment for existing debt of over PKR 18 million
with non-bank lenders
• Enhanced credit limit with suppliers by more than 100%
• Saved above PKR 20 million through effective handling of tax litigation
• Ensured efficient utilization of funds for maximum value creation
• Restructured accounting and finance department – implemented SOPs for
computerization of processes

Education
CFA Institute
Cleared Level I & Level II, Finance · (2007 - 2015)

Bahria University
MBA, Finance · (2004 - 2006)

Bahria University
BSc. CS, Computer Science · (2000 - 2003)

Activity

Page 8 of 9
04/12/2024, Viewed by Bala Kumaran

Page 9 of 9