Garg graduated from Indian Institute of Technology, Delhi and has an MBA from Indian Institute of Management, Ahmedabad.
With growth in India on its mind, the company has appointed a chief business officer for non-Japanese businesses to lead the way.
The loan may be priced after adding 115 basis points over and above the London Interbank Offered Rate, a global benchmark gauge, said market sources. These loans would mature in three or four years.
Billionaire Mukesh Ambani-owned group has been on fund raising spree to support its expanding businesses.
The source did not mention the timeline for raising the loan from Japanese banks and said, "The agreement is yet to be signed."
HDFC has arranged this foreign currency loan from SBI, Sumitomo Mitsui Banking Corporation, Bank of Tokyo-Mitsubishi UFJ and DBS Bank.
KMCC was able to grab only 8.5% share in the crowded Indian investment banking market despite a second slot in the equity capital market offers.
Sumitomo Mitsui Banking Corporation (SMBC) and Brookfield Asset Management (Brookfield) will participate in the Fund as cornerstone investors.
The company had purchased 30% stake in 2 coal mines & trading companies of Bumi for $1.1 bn in 2007. The acquisition was then backed by UK's Barclays Bank.
Profit on a consolidated basis rises 27% to Rs 328 cr.
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