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{{Short description|Indian investment banker, financier and business executive (1949-2021)}}
{{Use dmy dates|date=January 2024}}
{{Infobox person
| name = Udayan Bose
| birth_name = Udayan Prabhas Bose
| birth_date = 23 April 1949
| birth_place = [[Kolkata]], [[West Bengal]], India
| death_date = {{dda|2021|1|6|1949|4|23|df=y}}
| death_place = [[Mumbai]], [[Maharashtra]], India
| alma_mater = [[Presidency University, Kolkata]]
| occupation = {{Hlist|Investment banker|financier|business executive}}
| children = 3
}}

'''Udayan Prabhas Bose''' (23 April 1949 – 6 January 2021) was an Indian investment banker, financier and business executive. Bose was one of India's first prominent [[Investment banking|investment bankers]] and was also the chairman of Lazard India, the Indian subsidiary of the multinational investment bank [[Lazard]].<ref name=":2" /> In 1990, he founded India's first [[private sector]] [[venture capital]] fund.<ref name=":8" /> In 2004, Bose left investment banking and became a [[Investor|financier]], focusing on [[private equity]] [[Investment|investments]], and a [[business executive]].<ref name=":9" /><ref name=":10" /> He was also the chairman of [[Thomas Cook India]].<ref name=":10" /> During his career, Bose was noted for his success in investments and [[Mergers and acquisitions|acquisitions]].<ref name=":0" /><ref name=":2" /> He died in 2021.<ref name=":3" />
== Early life and education ==
Udayan Prabhas Bose was born on 23 April 1949 in [[Kolkata]], [[West Bengal]], India.<ref name=":0">{{Cite web |last1=Majumdar |first1=Shyamal |last2=Dutta |first2=Kausik |date=19 December 2006 |title=LUNCH WITH BS: Udayan Bose |url=https://www.business-standard.com/article/opinion/lunch-with-bs-udayan-bose-106121901042_1.html |access-date=22 January 2024 |website=Business Standard |archive-date=15 January 2024 |archive-url=https://web.archive.org/web/20240115085928/https://www.business-standard.com/article/opinion/lunch-with-bs-udayan-bose-106121901042_1.html |url-status=live }}</ref><ref>{{Cite web |title=UDAYAN PRABHAS BOSE - 4533 Director Info |url=https://mycorporateinfo.com/director/udayan-prabhas-bose-4533 |access-date=2024-01-17 |website=MyCorporateInfo |language=en |archive-date=17 January 2024 |archive-url=https://web.archive.org/web/20240117145602/https://mycorporateinfo.com/director/udayan-prabhas-bose-4533 |url-status=live }}</ref> Bose came from a middle class family in Kolkota.<ref name=":0" /> His father was Prabhas Chandra Bose.<ref>{{Cite web |date=17 August 2015 |title=PRABHAT DAIRY LIMITED |url=https://www.sebi.gov.in/sebi_data/attachdocs/1440137124246.pdf |access-date=30 January 2024 |website=Securities and Exchange Board of India |page=160 |archive-date=29 January 2024 |archive-url=https://web.archive.org/web/20240129204841/https://www.sebi.gov.in/sebi_data/attachdocs/1440137124246.pdf |url-status=live }}</ref> Bose attended university in [[Presidency University, Kolkata|Presidency University, Kolkota]], which was then known as Presidency College, Kolkota.<ref name=":0" /> He graduated with [[British undergraduate degree classification|first-class honours]].<ref name=":1">{{Cite web |last=Pritish Nandy Communications |date=2014 |title=The 21st Annual Report and Accounts 2014 |url=https://www.bseindia.com/bseplus/AnnualReport/532387/5323870314.pdf |access-date=22 January 2024 |website=BSE |page=32 |archive-date=5 February 2024 |archive-url=https://web.archive.org/web/20240205055944/https://www.bseindia.com/bseplus/AnnualReport/532387/5323870314.pdf |url-status=live }}</ref>

Bose also completed a [[Fellow|fellowship]] programme at the [[London Institute of Banking & Finance]] (Chartered Institute of Bankers London) in [[London]], England, after which he attended the Advanced Management Programme at [[Harvard Business School]].<ref name=":1" />

== Career ==

=== Investment banking career ===
Bose began his career, in 1970, by joining the [[investment banking]] division of [[Grindlays Bank]].<ref name=":1" /><ref name=":2">{{Cite news |last=TNN |date=2021-01-09 |title=Udayan Bose, pioneer of investment banking in India, dies at 71 |url=https://timesofindia.indiatimes.com/business/india-business/bose-pioneer-of-investment-banking-in-india-dies-at-71/articleshow/80181594.cms?from=mdr |access-date=2024-01-21 |work=The Times of India |issn=0971-8257 |archive-date=25 September 2022 |archive-url=https://web.archive.org/web/20220925213750/https://timesofindia.indiatimes.com/business/india-business/bose-pioneer-of-investment-banking-in-india-dies-at-71/articleshow/80181594.cms?from=mdr |url-status=live }}</ref> He rose to become the Regional Director of Grindlays Asia Pacific, after which he joined [[Deutsche Bank]] and became the director of Asia operations.<ref name=":3">{{Cite news |last=ET Bureau |date=2021-01-09 |title=Udayan Bose: The affable deal maker of the '90s |url=https://economictimes.indiatimes.com/industry/banking/finance/udayan-bose-the-affable-deal-maker-of-the-90s/articleshow/80178128.cms?from=mdr |url-access=subscription |access-date=2024-01-21 |work=The Economic Times |issn=0013-0389 |archive-date=9 January 2021 |archive-url=https://web.archive.org/web/20210109120422/https://economictimes.indiatimes.com/industry/banking/finance/udayan-bose-the-affable-deal-maker-of-the-90s/articleshow/80178128.cms?from=mdr |url-status=live }}</ref> He later became the head of Deuteche Bank's operations in Australia, however in 1984, Bose decided to leave the bank and return to India.<ref name=":2" /> After returning to India in 1984, he founded Credit Capital Finance Corporation, one of India's first investment banks.<ref name=":2" /><ref name=":4">{{Cite book |url=https://books.google.com/books?id=kvCzAAAAIAAJ |title=Far Eastern Economic Review |publisher=Review Publishing Company Limited |year=1988 |pages=12 |language=en}}</ref> Bose formed Credit Capital in a partnership with the multinational investment bank Lazard Brothers, the then United Kingdom operations of [[Lazard]], which created India's first investment banking venture in which a foreign investment bank was a large partner.<ref name=":3" /><ref>{{Cite book |url=https://books.google.com/books?id=naEeAQAAMAAJ |title=Monthly Commentary on Indian Economic Conditions |publisher=Indian Institute of Public Opinion. |year=1984 |page=31 |language=en}}</ref> He was the chairman of the Credit Capital, and eventually, the venture was named Lazard Credit Capital, of which Bose was also chief executive officer (CEO).<ref>{{Cite book |url=https://books.google.com/books?id=1uIdAQAAMAAJ |title=Asiamoney |publisher=Euromoney Publications |year=1994 |page=8 |language=en |access-date=21 January 2024 |archive-date=5 February 2024 |archive-url=https://web.archive.org/web/20240205200551/https://books.google.com/books?id=1uIdAQAAMAAJ |url-status=live }}</ref><ref>{{Cite web |last=BSCAL |date=7 April 1997 |title=The Offshore Gambit |url=https://www.business-standard.com/article/specials/the-offshore-gambit-197040701070_1.html |access-date=22 January 2024 |website=Business Standard}}</ref>

Bose was involved in various notable deals during his time as chairman and CEO of Lazard Credit Capital. In 1996, Lazard Credit Capital was involved in a takeover battle for Ahmedabad Electricity, which was seen as controversial at the time.<ref>{{Cite book |url=https://books.google.com/books?id=Jr9IAAAAYAAJ |title=The Economist |date=1996 |publisher=Economist Newspaper Limited |volume=341 |page=32 |language=en}}</ref> In 1997, the company advised [[Bombay Dyeing]] while the company was in the midst one of India's first hostile takeover battles.<ref>{{Cite book |last=Bullis |first=Douglas |url=https://books.google.com/books?id=TpHDEAAAQBAJ&pg=PA32 |title=Selling to India's Consumer Market |date=1997-12-09 |publisher=Bloomsbury Publishing USA |isbn=978-0-313-00809-2 |page=32 |language=en |access-date=5 February 2024 |archive-date=5 February 2024 |archive-url=https://web.archive.org/web/20240205200553/https://books.google.com/books?id=TpHDEAAAQBAJ&pg=PA32#v=onepage&q&f=false |url-status=live }}</ref> In 1999, Lazard Credit Capital advised the [[Nashik Municipal Corporation]] in a fundraise for infrastructure projects.<ref>{{Cite book |last=Kim |first=Yun-hwan |url=https://books.google.com/books?id=ukpJI2XlMawC&pg=PA128 |title=Local Government Finance and Bond Markets |publisher=Asian Development Bank |year=2003 |isbn=978-971-561-501-3 |pages=128 |language=en |access-date=5 February 2024 |archive-date=5 February 2024 |archive-url=https://web.archive.org/web/20240205200505/https://books.google.com/books?id=ukpJI2XlMawC&pg=PA128#v=onepage&q&f=false |url-status=live }}</ref> Bose also formed India's first private sector [[venture capital]] fund in 1990.<ref name=":8">{{Cite book |url=https://books.google.com/books?id=OmJXAAAAYAAJ&q=udayan+bose+lazard+india |title=South |date=1990 |publisher=South Publications Limited |page=20 |language=en |issue=111–118 |access-date=5 February 2024 |archive-date=5 February 2024 |archive-url=https://web.archive.org/web/20240205200552/https://books.google.com/books?id=OmJXAAAAYAAJ&q=udayan+bose+lazard+india |url-status=live }}</ref>

Also in 1999, Lazard Brothers increased its share in Lazard Credit Capital and renamed the company Lazard India, and Bose became chairman of Lazard India.<ref>{{Cite book |last1=Mishra |first1=R. K. |url=https://books.google.com/books?id=8wmIC859_mUC |title=Economic Liberalisation and Public Enterprises |last2=Navin |first2=B. |date=2006 |publisher=Concept Publishing Company |isbn=978-81-8069-257-4 |editor-last=Geeta |editor-first=P. |page=84 |language=en |access-date=23 January 2024 |archive-date=5 February 2024 |archive-url=https://web.archive.org/web/20240205200506/https://books.google.com/books?id=8wmIC859_mUC |url-status=live }}</ref><ref>{{Cite book |url=https://books.google.com/books?id=GegiAQAAMAAJ |title=Business India |date=1999 |publisher=A. H. Advani |language=en |access-date=23 January 2024 |archive-date=5 February 2024 |archive-url=https://web.archive.org/web/20240205200546/https://books.google.com/books?id=GegiAQAAMAAJ |url-status=live }}</ref><ref name=":5">{{Cite book |url=https://books.google.com/books?id=bKdaAAAAYAAJ |title=Business World |publisher=Ananda Bazar Patrika Limited |year=2000 |page=54 |language=en}}</ref> In 2000, Bose was appointed as global managing director of Lazard's global operations.<ref name=":5" /> In 2002, Lazard India was a joint venture between Lazard Worldwide and Udayan Bose, with bose sides owning 50% each.<ref>{{Cite web |last=Our Bureau |date=28 August 2002 |title=Lazard India gets new head |url=https://www.telegraphindia.com/business/lazard-india-gets-new-head/cid/870196 |access-date=2024-01-23 |website=Telegraph India |language=en |archive-date=23 January 2024 |archive-url=https://web.archive.org/web/20240123224101/https://www.telegraphindia.com/business/lazard-india-gets-new-head/cid/870196 |url-status=live }}</ref> It is active in corporate finance (mergers and acquisitions), privatisation and restructuring. Bose's time as the chairman of Lazard India was notable. He acted as an advisor for various notable deals, which included the [[RPG Group]]'s takeover of [[Saregama|His Master's Voice]], organising the joint venture between [[Rediffusion]] and [[Dentsu]], and advising Zuari Cement in their bid for Sree Vishnu Cement.<ref name=":3" />

Bose sold his shares in Lazard India in 2004 and left investment banking as a career.<ref>{{Cite web |last=Zachariah |first=Reena |date=12 June 2007 |title=Lazard may float MF |url=https://www.business-standard.com/article/markets/lazard-may-float-mf-107061201050_1.html |access-date=27 January 2024 |website=Business Standard |archive-date=26 January 2024 |archive-url=https://web.archive.org/web/20240126203246/https://www.business-standard.com/article/markets/lazard-may-float-mf-107061201050_1.html |url-status=live }}</ref> It was speculated that he left Lazard due to differences with the head of Lazard at the time, [[Bruce Wasserstein]].<ref name=":3" />

=== Financier and later career ===
After leaving Lazard in 2004, Bose became a [[Investor|financier]] and held various other positions as well. In 2004, Bose founded and became chairman of Tamara Capital advisors, a [[private equity]] [[investment company]].<ref name=":3" /><ref name=":9">{{Cite web |last=Tahseen |first=Ismat |date=21 November 2013 |title=Meet Mumbai's globe-trotting 'gastronauts' |url=https://www.dnaindia.com/lifestyle/report-meet-mumbai-s-globe-trotting-gastronauts-1228654 |access-date=2024-01-29 |website=DNA India |language=en |archive-date=29 January 2024 |archive-url=https://web.archive.org/web/20240129203057/https://www.dnaindia.com/lifestyle/report-meet-mumbai-s-globe-trotting-gastronauts-1228654 |url-status=live }}</ref> In 2006, Bose led a [[consortium]] of investors to buy into a [[Preferred stock|preferred equity]] offering of [[United Western Bank]] (UWB), an [[Banking in India|Indian private bank]].<ref>{{Cite news |last=TNN |date=2006-02-01 |title=Udayan Bose leads race for Rs 160-cr UWB pref issuez |url=https://economictimes.indiatimes.com/udayan-bose-leads-race-for-rs-160-cr-uwb-pref-issuez/articleshow/1395130.cms?from=mdr |access-date=2024-01-30 |work=The Economic Times |issn=0013-0389 |archive-date=30 January 2024 |archive-url=https://web.archive.org/web/20240130095419/https://economictimes.indiatimes.com/udayan-bose-leads-race-for-rs-160-cr-uwb-pref-issuez/articleshow/1395130.cms?from=mdr |url-status=live }}</ref> However, the [[Reserve Bank of India]], India's [[central bank]], rejected the proposal to allow private equity investors to infuse capital in UWB.<ref>{{Cite news |last=Alexander |first=George Smith |date=2006-06-27 |title=RBI rejects UWB pvt equity proposal |url=https://economictimes.indiatimes.com/industry/banking/finance/banking/rbi-rejects-uwb-pvt-equity-proposal/articleshow/1682527.cms?from=mdr |access-date=2024-01-30 |work=The Economic Times |issn=0013-0389 |archive-date=30 January 2024 |archive-url=https://web.archive.org/web/20240130095712/https://economictimes.indiatimes.com/industry/banking/finance/banking/rbi-rejects-uwb-pvt-equity-proposal/articleshow/1682527.cms?from=mdr |url-status=live }}</ref> During his time as chairman of Tamara Capital Advisors, Bose in 2009, was part of the Amit Mitra Expert Committee, which focused on developing funding for [[Indian Railways]]' infrastructure projects via [[Public–private partnership|public-private partnerships]].<ref>{{Cite web |date=25 July 2009 |title=Rail cell on track |url=https://www.telegraphindia.com/business/rail-cell-on-track/cid/606819 |access-date=2024-01-29 |website=Telegraph India |language=en |archive-date=29 January 2024 |archive-url=https://web.archive.org/web/20240129203821/https://www.telegraphindia.com/business/rail-cell-on-track/cid/606819 |url-status=live }}</ref><ref>{{Cite web |last=INVC Desk |date=2009-07-25 |title=Railways constitute Expert Committee on innovative funding |url=https://www.internationalnewsandviews.com/railways-constitute-expert-committee-on-innovative-funding/ |access-date=2024-01-29 |website=International News and Views Corporation |language=en-US |archive-date=29 January 2024 |archive-url=https://web.archive.org/web/20240129204024/https://www.internationalnewsandviews.com/railways-constitute-expert-committee-on-innovative-funding/ |url-status=live }}</ref>

In 2006 he also joined [[Thomas Cook India]] (TCIL), a [[travel agency]] and services company, as chairman of the company.<ref name=":0" /><ref name=":10">{{Cite news |last=TNN |date=2006-08-11 |title=Thomas Cook India takes over Thai business |url=https://economictimes.indiatimes.com/t-companies/thomas-cook/thomas-cook-india-takes-over-thai-business/articleshow/1882518.cms?from=mdr |access-date=2024-01-28 |work=The Economic Times |issn=0013-0389 |archive-date=28 January 2024 |archive-url=https://web.archive.org/web/20240128230858/https://economictimes.indiatimes.com/t-companies/thomas-cook/thomas-cook-india-takes-over-thai-business/articleshow/1882518.cms?from=mdr |url-status=live }}</ref> Bose stated that his goals for TCIL were to make it a full scale travel services company through [[Mergers and acquisitions|acquisitions]] and to scale TCIL to larger company size.<ref name=":0" /> In August 2006, TCIL acquired Thomas Cook (Thailand).<ref>{{Cite news |last=TNN |date=2006-08-11 |title=Thomas Cook India takes over Thai business |url=https://economictimes.indiatimes.com/t-companies/thomas-cook/thomas-cook-india-takes-over-thai-business/articleshow/1882518.cms?from=mdr |access-date=2024-01-28 |work=The Economic Times |issn=0013-0389 |archive-date=28 January 2024 |archive-url=https://web.archive.org/web/20240128230858/https://economictimes.indiatimes.com/t-companies/thomas-cook/thomas-cook-india-takes-over-thai-business/articleshow/1882518.cms?from=mdr |url-status=live }}</ref> Also in August 2006, TCIL acquired Travel Corporation of India (TCI), and incorporated it as a [[subsidiary]] to retain's TCI brand name, and also acquired TT Enterprises, a [[Travel visa|visa]] services company.<ref>{{Cite news |last=TNN |date=2006-12-02 |title=Thomas Cook acquires Travel Corp for Rs 182.5 cr |url=https://economictimes.indiatimes.com/industry/services/travel/thomas-cook-acquires-travel-corp-for-rs-182-5-cr/articleshow/677883.cms?from=mdr |access-date=2024-01-28 |work=The Economic Times |issn=0013-0389 |archive-date=28 January 2024 |archive-url=https://web.archive.org/web/20240128233053/https://economictimes.indiatimes.com/industry/services/travel/thomas-cook-acquires-travel-corp-for-rs-182-5-cr/articleshow/677883.cms?from=mdr |url-status=live }}</ref> In 2007, TCIL signed a [[memorandum of understanding]] (MoU) with [[JTB Corporation]], a Japanese travel agency.<ref name=":6">{{Cite web |date=17 December 2007 |title=Thomas Cook in Japan deal |url=https://www.telegraphindia.com/business/thomas-cook-in-japan-deal/cid/1545977 |access-date=2024-01-29 |website=Telegraph India |language=en |archive-date=29 January 2024 |archive-url=https://web.archive.org/web/20240129090159/https://www.telegraphindia.com/business/thomas-cook-in-japan-deal/cid/1545977 |url-status=live }}</ref> The MoU gave TCIL access to JTB Corporation's network in 30 countries and affiliates across 800 offices, and JTB Corporation entered the Indian market via TCIL.<ref name=":6" /> By 2008, TCIL was India's largest [[Foreign exchange market|foreign exchange]] and second largest travel company.<ref name=":7" /> In 2008, 74.9% of the issued [[share capital]] of TCIL was acquired by [[Thomas Cook Group]] and Bose continued as chairman of TCIL.<ref name=":7">{{Cite news |last=INDIATIMES NEWS NETWORK |date=2008-03-07 |title=Thomas Cook PLC reacquires 75% stake in Thomas Cook India |url=https://economictimes.indiatimes.com/industry/services/travel/thomas-cook-plc-reacquires-75-stake-in-thomas-cook-india/articleshow/2844944.cms?from=mdr |access-date=2024-01-29 |work=The Economic Times |issn=0013-0389 |archive-date=29 January 2024 |archive-url=https://web.archive.org/web/20240129201328/https://economictimes.indiatimes.com/industry/services/travel/thomas-cook-plc-reacquires-75-stake-in-thomas-cook-india/articleshow/2844944.cms?from=mdr |url-status=live }}</ref><ref>{{Cite news |last=PTI |date=2008-03-30 |title=Thomas Cook reconstitutes board |url=https://economictimes.indiatimes.com/thomas-cook-reconstitutes-board/articleshow/2912079.cms?from=mdr |access-date=2024-01-29 |work=The Economic Times |issn=0013-0389 |archive-date=29 January 2024 |archive-url=https://web.archive.org/web/20240129201830/https://economictimes.indiatimes.com/thomas-cook-reconstitutes-board/articleshow/2912079.cms?from=mdr |url-status=live }}</ref>

During his financier and later career, Bose was also a director in various companies, which included [[Reliance Capital]], JK Paper and Pritish Nandy Communications.<ref>{{Cite web |last=Our Web Bureau |date=29 December 2005 |title=Udayan Bose joins board of Rel Cap |url=https://www.business-standard.com/article/companies/udayan-bose-joins-board-of-rel-cap-105122900014_1.html |access-date=30 January 2024 |website=Business Standard |archive-date=29 January 2024 |archive-url=https://web.archive.org/web/20240129212502/https://www.business-standard.com/article/companies/udayan-bose-joins-board-of-rel-cap-105122900014_1.html |url-status=live }}</ref><ref name=":3" /><ref name=":1" /> Bose also served as the chairman of the Corporate Finance Committee of the [[Federation of Indian Chambers of Commerce & Industry]] (FICCI) and as the chairman of the [[Calcutta Stock Exchange]].<ref>{{Cite web |date=2012-05-16 |title=Rate hike to destabilise growth: FICCI |url=https://www.newindianexpress.com/business/2011/Jun/16/rate-hike-to-destabilise-growth-ficci-263128.html |access-date=2024-01-26 |website=The New Indian Express |language=en |archive-date=26 January 2024 |archive-url=https://web.archive.org/web/20240126205601/https://www.newindianexpress.com/business/2011/Jun/16/rate-hike-to-destabilise-growth-ficci-263128.html |url-status=live }}</ref><ref>{{Cite news |last=ET Bureau |date=2009-11-20 |title=Calcutta Stock Exchange gets new head |url=https://economictimes.indiatimes.com/calcutta-stock-exchange-gets-new-head/articleshow/5249041.cms |access-date=2024-01-29 |work=The Economic Times |issn=0013-0389 |archive-date=29 January 2024 |archive-url=https://web.archive.org/web/20240129205851/https://economictimes.indiatimes.com/calcutta-stock-exchange-gets-new-head/articleshow/5249041.cms |url-status=live }}</ref>

== Personal life and death ==
Bose was married and had one daughter, Piusha, and two sons, one of whom being Tushar.<ref>{{Cite web |last=Behram Contractor |first=Farzana |title=Cooking With Precision And Love |url=https://www.uppercrustindia.com/oldsite/36crust/extras_20090224_4.html |access-date=2024-01-29 |website=Upper Crust |archive-date=29 January 2024 |archive-url=https://web.archive.org/web/20240129211643/https://www.uppercrustindia.com/oldsite/36crust/extras_20090224_4.html |url-status=live }}</ref> Tushar, who started his career in investment banking, is an investor and a co-founder of Etonhurst, a [[real estate]] private equity firm.<ref>{{Cite web |title=About Us |url=https://etonhurst.com/about-us/ |access-date=22 April 2025 |website=Etonhurst Capital Partners}}</ref> Tushar is also a partner in the mining company Ethiopotash, along with Aditya Khanna, who is also a non-executive partner at Etonhurst.<ref>{{Cite web |title=Officers & Director |url=https://ethiopotash.com/officers-and-director/ |access-date=22 April 2025 |website=Ethiopotash}}</ref><ref>{{Cite web |title=Aditya Khanna Overview |url=https://pitchbook.com/profiles/investor/503546-14 |access-date=9 June 2025 |website=PitchBook}}</ref> Bose died in 2021, and was survived by his wife and three children.<ref name=":3" />

== References ==
{{reflist}}

{{DEFAULTSORT:Bose, Udayan}}
[[Category:1949 births]]
[[Category:2021 deaths]]
[[Category:Indian investment bankers]]
[[Category:Indian investors]]
[[Category:Indian business executives]]
[[Category:Businesspeople from Kolkata]]
[[Category:People from Kolkata]]
[[Category:Bengali people]]

Udayan Bose - Revision history

MalissaHardaway: Started New Info