Profile

professor

Thillai Rajan

Associate Professor
Department of Management Studies
Indian Institute of Technology Madras
Chennai – 600 036, INDIA
Direct: +91 44 2257 4569
Office: +91 44 2257 4550
E.mail: thillair@iitm.ac.in

 

EDUCATION
B.E. (Hons.) Chemical Engineering, B.I.T.S., Pilani, 1994.
M.Sc. (Hons.) Biological Sciences, B.I.T.S., Pilani, 1994.
Fellow (Ph. D.), Indian Institute of Management Bangalore, 2000.

CAREER
Aug 1994 – Jun 1995 Sales Engineer, Thermax Limited
Jun 1999 – Dec 1999 Assistant Manager, IL&FS Limited
Jan 2000 – Aug 2002 Manager, IL&FS Investment Managers
Aug 2002 – Dec 2005 Operations Manager, Infosys Technologies Limited
Dec 2005 – Jun 2010 Assistant Professor, Management Studies, IIT Madras
Jun 2010 Onwards Associate Professor, Management Studies, IIT Madras

RESEARCH INTEREST
Corporate Finance
Venture Capital and Private Equity
Project and Infrastructure Finance
Public Private Participation

OTHER ACTIVITIES
Co-ordinator, IITM-MSME Incubation Venture Fund

  • FELLOWSHIPS AND VISITING ENGAGEMENTS

     

    • Senior Fulbright Fellow, Centre for Business and Government, Harvard University, Jan – Jun 2010
    • Visiting Fellow, Macquarie Graduate School of Management, Sydney, May – June 2008
    • Chevening Gurukul Fellow, London School of Economics, Sep – Dec 2005
    • Visiting faculty, Project Analysis and Finance, Centre for Public Policy, Indian Institute of Management Bangalore, 2004 – 2009
    • Visiting faculty, Corporate Finance, T.A. Pai Management Institute, Oct-Dec 2000

     

  • AWARDS AND HONOURS

    • Winner for the best case study in Business Ethics and Corporate Governance track, International Case Study Conference 2012, December 14, Hyderabad.
    • Selected for the Bharat Jyoti Award and Certificate of Excellence by India International Friendship Society, 2012. (However, declined to accept the award).
    • Emerald Literati Network Highly Commended Award, Journal of Indian Business Research, 2012
    • Emerald Literati Network Highly Commended Award, Journal of Financial Management of Property and Construction, 2011
    • Emerald Literati Network Highly Commended Award, International Journal of Energy Systems Management, 2011
    • Fulbright – Nehru Senior Research Fellowship, 2009 – 10
    • P. K. Das Memorial Best Faculty Award, 2009
    • Outstanding Young Management Teacher Award, The Association of Indian Management Scholars’ International, 2009
    • Dewang Mehta Award for Best Teacher in Financial Management, 2009
    • Young Management Researcher Award, The Association of Indian Management Scholars’ International, 2008
    • Dr. Harisingh Gour Award for Teaching Excellence in Management, November 2008
    • Young Faculty Recognition Award, IIT Madras, 2008
    • Excellence in Online Education Award, U21 Global, 2008
    • Finalist in Hidden Successes, MIT – IFMR International Research Competition on India’s Urbanization, 2008
    • Endeavour Executive Award, 2008, Department of Education, Science and Training, Government of Australia
    • Broad Outlook Learner – Teacher (BOLT) Award, Air India, 2007
    • Ramaswamy P. Aiyar Best Young Teacher Award, Association of Indian Management Schools (AIMS), 2007
    • Best Case Study Award (Third place), 19th Annual Convention of Association of Indian Management Schools (AIMS), Kolkata, 2007
    • British Council Chevening Gurukul Scholarship in Leadership and Excellence, 2005
    • Included in the Marquis Who’s Who in Science and Engineering, 2005
    • Awarded the K.K.Birla Fellowship in Economics, 2002
    • Recipient of the Jawaharlal Nehru Scholarship for Doctoral Studies in Management, 1998
    • Awarded the PD Agarwal – TCI Award for Doctoral Studies, 1997
    • Third Prize at INNOVISION 97, a national level paper writing competition conducted by the Indian Institute of Management, Lucknow for the paper, “Opportunities and Strategies for Electric Utilities”
    • MODICORP Best Paper award for the paper titled, “Achieving Sustainable Corporate Growth – A Case of the Power Industry”, at Delphique 97, A National Management Convention, 18 October 1997, MDI, Gurgaon
    • Third Position in the Best Research Paper competition held during the 9th Annual Management Education Convention, Aug. 29, 1997, Pune, conducted by the Association of Indian Management Schools (AIMS)
    • Second Prize in the All India LIC Essay Competition 1996 on Vision 2000: The Strategic Perspectives, conducted by Life Insurance Corporation
    • Chief Ministers’ Award for Best performance, Class XII, 1989
    • National Scholarship Scheme Scholar, Government of Tamil Nadu, 1987 and 1989
    • Monali Dey Best Chemical Engineering Graduate Award, Birla Institute of Technology & Science, Pilani, 1994
    • Awarded the CMC Jewellers’ Gold Medal for Best Student, Class XII, 1989
    • Rotary Club Best Student Award, Class X, 1988
  • RESEARCH AND CONSULTANCY PROJECTS

    • Housing, urban development and infrastructure: Study of the impact of PPP and Private Equity investments
    • India venture capital and private equity annual report series
    • Role of private equity in infrastructure
    • Financing of entrepreneurial and SME companies in energy, environment, and technology sectors in India
    • International research project on the impact of private sector participation on access and quality in electricity, telecom and water supply sectors.
    • International research project on Impact of transparency on infrastructure outcomes with specific relevance to developing countries
    • Assessing the institutional environment for implementing PPP projects
    • Benchmarking of public utilities and PPP
    • Case studies on Private Equity investments
    • Role of foreign investors in venture co-investments
    • Venture capital investment in Indian firms – Trends, value addition, and performance of investee companies
    • Expectations and experiences from PPP projects in Tamil Nadu
    • Bridging the Digital Divide ICT Project
    • Development of strategy, structure, and processes for a public sector tourism development corporation
    • Financial and economic analysis of a Ring Road project for a metropolitan city
    • Impact assessment study of Bridging the Digital Divide ICT Project
  • COMPETITIVE GRANTS

    • Human Settlement Management Institute supported study on Housing, urban development and infrastructure: Study of the impact of PPP and Private Equity investments (2012)
    • Indian Council for Social Sciences Research (ICSSR) project grant for doing a study on Recent innovations in infrastructure financing: role of private equity (2012)
    • Nissan supported study on financing of entrepreneurial and SME companies in energy, environment, and technology sectors in India (2011)
    • AusAID supported study on Impact of private sector participation on access and quality in electricity, telecom, and water supply sectors (2011)
    • DFID supported study on Impact of transparency on infrastructure outcomes (2010)
    • Ministry of Small and Medium Enterprises (MSME) support for setting up a incubation centre at IIT Madras (2009)
    • IIT Madras Socially Relevant Projects grant for a study on market based approaches for delivering primary healthcare (2009)
    • Indian Council for Social Sciences Research (ICSSR) project grant for doing a study on Venture capital trends and performance of investee companies in India (2009)
    • Publication grant from the Indian Council for Social Sciences Research (ICSSR), Ministry of HRD for publication of the doctoral thesis (2000)
    • Research grant from USAID through Community Consulting International, USA, under Financial Institutions Reform and Expansion program for the project Innovations in Debt Financing for Power Sector (1995)
  • BOARD MEMBERSHIPS

    • Director and Member of the Board, Merkel Haptic System Private Limited (Since Sep 2012)
    • Advisory Trustee, Board of Trustees, Socio Economic and Education Development / Hand in Hand Trust (Since Sep 2011)
    • Founder and Member of the Board, Pluto Education (Money-wizards) Private Limited (Since Sep 2011)
  • EXECUTIVE EDUCATION PROGRAMS CONDUCTED

    • Advanced Financial Management Program for one of the world’s top Investment Banking Firm
    • Finance for Non-finance Professionals Program, Fortune 50 Heavy Equipment Manufacturing Firm
    • Project Analysis and Finance, Centre for Public Policy, Indian Institute of Management Bangalore

  • JOURNAL REVIEWER AND EDITORIAL BOARD

    • Entrepreneurship Theory & Practice
    • Journal of Financial Management of Property and Construction
    • AIMS International Journal of Management
    • International Journal of Energy Sector Management
    • Journal of Construction Engineering and Management
    • ICFAI Journal of Business Strategy
    • Energy Policy
    • Policy and Society
    • Impact, a journal of Indian Institute of Management Indore
  • RESEARCH GUIDANCE

    Ph.D.

    • Ragupathy., M.B., A study of venture capital and non-venture capital backed IPO firms: Understanding the VC impact, 2011

     

    M. S.

    • Dheeraj Pandey, Venture capital investment patterns and exits: Results from a longitudinal study of US and India, 2011
    • Gomathirajan, A. V., Development of an economic high performance storage solution (joint guidance with Prof. V. Kamakoti), 2010

    M. Tech

    • Govind Gopinath, Determinants of cost and time overrun in road infrastructure projects: A three stage least squares approach, 2012.
    • Harshal Mulay, Analysis of infrastructure as an alternate asset class and its effect on portfolio diversification, 2012.
    • Yahiya Hamsa, Determinants of private investments in infrastructure in Asia, 2012.
    • Surya Sudheer Meduri, Determinants of project costs in Indian road projects, 2011.
    • Gautami Kakaraparthi, An analysis of the impacts, relevance and determinants of private equity investments in infrastructure, 2011
    • Nikhil Jain, Empirical study of project finance in developed and developing countries, 2011.
    • Venkata Srikanth, G., Financial valuation of thermal power plants (jointly with Prof. R. Madhumati), 2010
    • Rajesh Kumar Mudunuru, Analysis and evaluation of technical flexibilities and uncertainties in upstream oil and gas industry in India using binomial lattice valuation technique, 2010
    • Sriram Siddhartha, P., Risk analysis of merchant power plants, 2009
    • Fasil Sagir, Real options analysis in PPP road projects, 2009
    • Shuboday, G., Valuation of transferable development rights for public private partnership projects in low cost housing sector – a real options approach, 2009
    • Shanoopriya, G., Estimating route choice using revealed preference and stated preference data for personal vehicle users in Hyderabad, 2008
    • Anshuman, A., Estimation of reliability and its impact on route choice behaviour of personal vehicle users in Hyderabad, 2008