|
The Big Story |
|
Mega
buyouts prop PE investments to $2.3 B in
Q2’13; 6 month figure drops 19%
Manufacturing Cos grab a third of pie;
Deal Volumes remain flat QoQ; Goldman
steps on the Gas
Private
Equity firms invested about $2,330
million across 82 deals during the
quarter ended June 2013, according to
early data from Venture Intelligence.
The investment amount was 17.7% higher
than that invested in the same period
last year ($1,980 million across 114
transactions) and almost 2.3 times than
that invested during the immediate
previous quarter ($1,021 million being
invested across 80 transactions). Note:
The above figures do not include PE
investments in Real Estate, the figures
for which are here. Also the $1,260 M
investment by Qatar Foundation in
publicly listed Bharti Airtel has been
excluded for the purpose of this
analysis. The latest numbers take PE
investments in the first six months of
2013 to $3,351 million (across 163
investments) down 19.1% compared to the
corresponding period of 2012 ($4,143
million across 238 investments). There
were seven PE investments worth over
$100 million (with three above $200
million) during Q2’13 compared to three
such transactions in the same period
last year and just one during the
immediate previous quarter, the Venture
Intelligence analysis showed.
The top two PE transactions during Q2’13
involved the buyout of existing PE
investors by new ones: KKR’s $460
million acquisition of a majority stake
in off-highway tires focused Alliance
Tire Group (from fellow PE investor
Warburg Pincus and the promoters) and
the $270 million buyout by Partners
Group of the existing PE investors in IT
Services firm CSS Group (SAIF, Goldman
Sachs and Sierra Ventures). Baring
Asia's $257 million investment in
Lafarge India, the Indian subsidiary of
French cement giant Lafarge, was the
third largest in the period. Apart from
exiting CSS, the PE arm of global
investment banking firm Goldman Sachs
was also particularly active on the
investing side during the quarter.
Goldman invested an additional $135
million in existing portfolio company
ReNew Wind Power; $110 million in listed
cable TV firm Den Networks and $20
million in medical devices firm BPL
Medical Technologies.
Led by the Alliance Tire and Lafarge
India deals, Manufacturing companies
grabbed over a third of the PE
investments (by value) in Q2’13.
Manufacturing ($796 million across six
investments) was followed by IT & ITES
($448 million across 31 investments) and
Energy ($235 million across four
investments) in terms of being the most
favored industries for PE investments in
the period. Outside of the CSS Group
buyout, the top PE investments in IT &
ITES companies in Q2’13 included the $50
million follow-on round raised by
e-commerce firm Snapdeal.com from a
consortium of investors (led by
strategic investor eBay and including
new investors Intel Capital and Russia
based RuNet Holdings) and the $25
million investment by TA Associates in
Fractal Analytics. Among Energy deals,
the ReNew Power deal was followed by the
$90 million raised by NSL Renewable
Power from a consortium including IFC,
DEG, FE Clean Energy, ADB, Asia Clean
Energy and Proparco.
http://bit.ly/11fd6x2
Back to top |
|
Knowledge Partner |
|
Trilegal is one
of India's leading law firms with offices in four of India’s major cities -
Mumbai, New Delhi, Bangalore and Hyderabad. The firm has the experience and
expertise in acting on complex, high-value, cross-border as well as domestic
transactions, leading to its key practices winning top industry awards and
accolades. The firm’s key practice areas include private equity and venture
capital; corporate - mergers and acquisitions, strategic alliances and joint
ventures, projects, energy and infrastructure, banking and finance,
restructuring, capital markets, telecoms, media and technology, dispute
resolution, competition law, labour and employment, real estate and taxation.
Trilegal is recognised as having a market leading practice with a client base
that includes leading international and Indian companies as well as smaller
growing businesses. The firm’s client roster comprises many of the world's
leading funds, corporations, banks and financial institutions.
http://www.trilegal.com/ |
|
Done Deals |
|
Private Equity Fund Investments
IVFA invests $40-M in VKL Seasoning
Economic Times
India Value Fund is to invest up to $40
million in food ingredients maker VKL
Seasoning. Haresh Chawla and Vikram
Nirula, partners at IVFA will join VKL's
board of directors. Avendus Capital
and DSK Legal were the advisors
on the deal.
The funding will help VKL to grow its
domestic capacities and expand business
development efforts in the Middle East &
Africa. VKL manufactures food
ingredients and flavouring solutions in
India and the Middle-East with a strong
focus on the quick service restaurants (QSR)
and processed food industries.
http://www.ivfa.com/vkl.html#vkl_book
http://bit.ly/17Dx1Fp
http://www.vklspices.com
Online Real Estate listings firm CommonFloor raises $7.5 M more from
Tiger Global, Accel India
Techcrunch
Bangalore-based real estate search
engine and listings site CommonFloor has
raised $7.5 million in additional
funding from existing investors Tiger
Global Management and Accel India. The
funds will be used to expand into new
markets, for sales and marketing and for
product development.
From the Venture Intelligence PE Deal
database: In August 2009 Accel
India had invested $0.22 million and in
September 2011 Tiger Global and Accel
India had invested $3 million in
CommonFloor.
http://tcrn.ch/123O2aZ
http://www.commonfloor.com
Matrix
invests Rs.30-Cr more in eye care chain
Centre for Sight
New Delhi-based eye care chain Centre
for Sight has raised Rs 30 crore in
additional capital from existing
investor Matrix Partners. The company
has issued 65,435 CCPS of FV Rs.10 each
at a premium of Rs.4584.70 per share to
Matrix Partners India Investment LLC.
From the Venture Intelligence PE Deal
database: In October 2010 Matrix
Partners India had invested $11.20
million in Centre for Sight.
http://www.centreforsight.net
Kalaari Capital invests Rs.22-Cr in
app development firm Robosoft
Economic Times
Udupi-based mobile application developer
Robosoft Technologies has raised Rs 22
crore in a first round of funding from
Kalaari Capital. Robosoft creates mobile
applications for external clients and
also creates its own apps through its
99Games and Global Delight units. The
company, which has developed apps for
brands like The Times of India, Sony,
HP, Disney, Reliance and Vodafone, is
now aiming to be an end-to-end service
provider.
The company is planning to expand its
sales team and set up offices globally,
strengthen its design and product teams
and invest in product development. The
company is also looking to go in for a
further round of funding of up to $10
million (about Rs 60 crore) by the next
fiscal.
http://bit.ly/1cFRBFB
http://www.robosoftin.com
Baring
India buys addl Indoco Remedies shares
worth Rs.9.9 Cr
Baring India, via its fund Baring India
PE III, has bought 1,599,596 shares of
publicly listed pharma company Indoco
Remedies on BSE worth Rs.9.92 Crore at
Rs.62 per share on Jul 02, 2013. This
constitutes 1.74% of total outstanding
shares of Indoco Remedies Ltd.
From the Venture Intelligence PE Deal
database: Between Jan 2013 and
Mar 2013 quarter, Baring India invested
INR 9.55-Cr for 1.65% stake through
public market purchase.
http://bit.ly/10k7ilf
Jungle Ventures leads $1.1 M Series A
round for impacting funding platform
Milaap
Yourstory.in
Milaap Social Ventures, an
impact-focused fundraising platform, has
raised a Series A round of $ 1.1
millionled by Singapore-based early
stage investment firm Jungle Ventures.
Other investors included Toivo Annus –
co-founder & former Head of Engineering
at Skype; Lionrock Capital – a
Singapore-based family investment
office; Jayesh Parekh – co-founder of
Sony Entertainment TV; and existing
investor Unitus Seed Fund.
Milaap had earlier raised $250,000 in
seed investments from Unitus Seed Fund,
First Light Ventures, Vijay Shekhar
Sharma (founder, One97) and Rajiv Madhok
(founder, Oorja). Milaap’s platform has
routed over $800,000 in loans impacting
over 25,000 lives across 10 states.;
http://bit.ly/12cP6V9
Liquidity Events (Private Equity)
Catamaran Ventures, Premji Invest
sell their stake in Manipal Global
Education Services
Economic Times
Catamaran Ventures and Premji Invest
have sold their shares in Manipal Global
Education Services to the promoters of
the education company. The deal, which
closed a fortnight ago, marks the
completion of the buyback of investors'
stake by the promoters of the Manipal
Group led by Ranjan Pai. The process
began with the exits of early investors
IDFC Alternatives and Capital
International in April. Premji Invest
and Catamaran, each invested around Rs.
200 crore in the education company that
manages a number of overseas university
campuses including those in Malaysia and
Antigua.
The promoters have raised debt of close
to $190 million (Rs. 1,130 crore) from a
consortium of overseas lenders while
sale of assets brought in the rest of
the capital required to fund the
buyback.
http://economictimes.indiatimes.com/articleshow/20850346.cms
Godrej Properties buys out HDFC PMS from
Chennai, Chandigarh projects
BSE, Business Line
Mumbai-based, listed developer Godrej
Properties has bought back the stake
held by HDFC PMS in two of its projects:
in Chennai and Chandigarh. HDFC had held
a 49.9% in the Chennai residential
project named Godrej Palm Grove (SPV
Name: Godrej Sea View Properties Pvt
Ltd). HDFC had held a 49% in the
Chandigarh commercial project, Godrej
Eternia (SPV Name: Godrej Estate
Developers Private Limited).
HDFC PMS had initially invested about
Rs.100 crore in both the projects in
2010. Both investments were made via
HDFC Asset Management Company Limited
Portfolio Management Services Real
Estate Portfolio -1.
http://bit.ly/11ZJVsS
http://bit.ly/19QUGGw
http://bit.ly/1b3SwRZ
http://www.godrejproperties.com/godrejpalmgrove/introduction
http://www.godrejproperties.com/godrejeterniachandigarh/overview
Temasek sells Firstsource shares
worth Rs. 20.21 Cr, registers 0.6x
return
Temasek, via it affiliate Aranda
Investments Mauritius, has sold
20,189,244 shares of publicly listed BPO
firm Firstsource Solutins Ltd on NSE
worth Rs.20.21 crores at Rs.10.01 per
share on Jul 4, 2013. This constitutes
3.07% of total outstanding shares of
Firstsource. Post deal the investor
would hold 0.28% stake of the company.
Part of the shares were bought by well
known public market investor Rakesh
Jhunjhunwala.
From the Venture Intelligence PE Deal
database: Temasek invested $45
million into the company over two
rounds. Other PE investors in the
company had include ICICI Venture, which
exited the firm in 2007 with a 2.04x
return and Sequoia Capital India which
exited the firm in 2009 with 2.70x
return.
http://bit.ly/crbdip
Incubation / Acceleration
Streaming app maker Nityaa Labs
selected for GSF Accelerator
Nityaa Labs, a Pune-based developer of
AirStream, an app using which users can
stream media content and other files
from their PC to smartphone, has been
selected to be a part of GSF
Accelerators second batch.
http://therodinhoods.com/forum/topics/thank-you-alok-the-rodinhoods
Angel
Investments
CashKaro to raise $750-K from UK
angels
Business World
Cashkaro.com, a subsidiary of UK-based
Pouring Pounds is to close its first
round of funding of Rs 4.5-5 crore
($750,000) from a group of angel
investors in London. Cashkaro is a
cashback and coupon website which works
with over 350 companies and has about
40,000 registered users.
http://bit.ly/17LilEe
http://cashkaro.com
E-com firm Klip raises angel funding
Economic Times
Online product discovery site Klip.in
has raised funding from angel investors
linked to start-up accelerator
VentureNursery. The Mumbai-based company
helps users discover unique lifestyle
products from across the web by
aggregating and curating them based on
their social connections and interest
graph. It was part of VentureNursery’s
second batch that concluded in April.
Klip is part of Smursh Ecommerce,
founded in 2011 by college friends Harsh
Gadia and Maneesh Madambath. Klip, which
claims to have a 1,000-strong user base,
has curated products from over 100
sites.
http://bit.ly/17PJSo7
Other
Private Equity/Strategic Investments
Deepak Fertilisers buys 24.5% in
Mangalore Chemicals for Rs.179-Cr
Times of India
Pune-based Deepak Fertilisers &
Petrochemicals, through its wholly owned
subsidiary SCMSoilfert, has acquired a
24.5% stake in listed UB Group company
Mangalore Chemicals and Fertilizers for
Rs 179 crore. The sellers were
Delhi-based Burman family and Sundaram
BNP and DSP Blackrock mutual funds.
UB Group holds 21% in Mangalore
Chemicals while Zuari Fertiliser holds a
little over 10%.
http://bit.ly/12eu8p0
Hero
MotoCorp to acquire 49.2% in US-based
Erik Buell Racing for $25-M
Publicly listed automobile maker Hero
MotoCorp Ltd. is to acquire a 49.2%
stake in US-based racing bikes maker
Erik Buell Racing, Inc. (EBR) for $25
million. The first tranche of $15
million has been invested on June 28,
2013. The second tranche of $10 million
is proposed to be invested within the
next nine months. The investments are to
be made via a wholly owned subsidiary,
HMCL (NA), Inc, incorporated in the US.
http://bit.ly/12i4twK
http://www.erikbuellracing.com
Secondary Issues
Govt
raises Rs.260-Cr from Hindustan Copper
share sale
Economic Times
The Government of India has raised Rs.
260 crores ($43 million) by selling
shares in state-run Hindustan Copper
Ltd. The government sold about 37
million shares, representing 4% stake in
the company, through an auction at a
floor price of Rs. 70 a share. The
offering was subscribed about 1.2 times.
http://economictimes.indiatimes.com/articleshow/20896350.cms
Shree Ganesh Jewellery to raise Rs
150-Cr
Kolkata-based listed jewellery
manufacturer and exporter Shree Ganesh
Jewellery House has proposed to allot
1.20 crore shares at a price of Rs 125
on a preferential basis to Progruss
Investments to raise Rs 150 crore. The
non-promoter foreign body will hold
14.52% in the company post the
allotment.
Post the preferential allotment, the
promoters’ shareholding in the company
will come down to 42.92% from 50.21%,
while that of foreign promoters’ will
dip to 21.02% from 24.59%. The public
shareholding including that of
institutions, financial institutions and
banks, FIIs and foreign bodies will
increase to 26.39% from 13.88%.
From the Venture Intelligence PE Deal
database: In March 2008 Credit
Suisse had invested $21 million for an
11% stake in Shree Ganesh Jewellery. The
company went IPO in June-10 providing a
part exit for CS.
http://bit.ly/12fscgU
http://bit.ly/12fscxv
Mergers & Acquisitions
RGF signs Rs.150-Cr deal to acquire
HR firm Stanton Chase India
Economic Times
RGF Executive, the executive search arm
of Japanese company Recruit Holdings,
has signed a deal worth nearly Rs 150
crore with Stanton Chase India managing
director R Suresh to buy the domestic
search firm as well as two other
companies owned by him - NuGrid
Consulting and Orane Consultants. The
deal is likely to be completed by this
week.
In India, Stanton Chase works on a
franchise model where Suresh is a
majority owner and the India franchisee
pays a licence fee to Stanton Chase
International for using the brand name.
Suresh co-owns NuGrid and Orane with
Sanjay Muthal. The payment will be on a
milestone basis, where Suresh will enter
into a three-to-five-year contract as
head of the new alliance in India. RGF
Executive has more than 40 consultants
in Tokyo, Hong Kong and Singapore.
http://economictimes.indiatimes.com/articleshow/20903939.cms
German
magazine Burda buys publisher EMM; to
invest Rs 150-Cr
Medianama.com
German magazine major Burda has acquired
Indian media house Exposure Media
Marketing (EMM). Burda will also invest
Rs 150 crore in EMM which was founded in
2003 by Rajiv and Parineeta Sethi. EMM
publishes the Indian editions of AsiaSpa,
Millionaire Asia, Asia-Pacific Boating,
Selling World Travel, Designer Mode and
Audi magazine. It also hosts a range of
key events and trade fairs.
Burda International GmbH is active in 17
markets and currently publishes over 230
magazines as well as a large number of
digital media services.
http://www.medianama.com/2013/06/223-burda-emm/
Amtek to acquire majority stake in JMT
Auto in Rs.113-Cr deal
Publicly listed Amtek Auto Limited has
purchased a 38,30,358 equity shares
(26.61%) from the promoters of fellow
publicly listed auto components firm JMT
Auto Ltd through a Share Purchase
Agreement for about Rs.56.96 crore and
has also obtained complete management
control of the target company. The deal
has triggered an Open offer for
acquisition of up to additional
37,42,760 shares (26%) from public
shareholders at Rs.149 per share
(aggregating Rs.55.77 crore). The
acquirer aims to have a 51.27% in JMT
Auto post open offer.
From the Venture Intelligence PE Deal
database: Jamshedpur-based JMT
Auto has attracted over $10 million from
ChrysCapital over two rounds starting in
Oct-05. ChrysCapital has also been an
investor in Amtek Auto since Jul-2008.
http://bit.ly/13gzuHM
http://www.jmtauto.com
Bharti
Airtel hikes stake in Qualcomm BWA
entities by 2% to 51%
New Delhi-based, publicly listed telecom
services provider Bharti Airtel, has
purchased an additional 2% stake in all
the four India Broadband Wireless Access
(BWA) entities of Qualcomm Asia Pacific
(Qualcomm AP). The acquired entities
hold BWA licenses in Delhi, Mumbai,
Haryana and Kerala. On May 24, 2012
Bharti Airtel had acquired a 49% stake
in the entities.
From the Deal Digest archive (May 25,
2012): Bharti Airtel acquired the 49%
stake in Qualcomm AP Indian BWA entities
for $165 million. Bharti had said it
will acquire the stake partly by way of
acquisition of a 26% interest equally
held by Global Holding Corporation and
Tulip Telecom Ltd., and the balance by
way of subscription of fresh equity in
those entities. Outside of the acquired
licenses, Bharti has BWA licenses in
four circles - Kolkata, Karnataka,
Punjab and Maharashtra - and 3G licenses
in 13 circles in India.
http://bit.ly/13oGXoh
http://goo.gl/Ea3p7
Rane Diecast to be merged with Rane
(Madras)
Business Line
Auto components maker Rane group has
merged Rane Diecast Ltd with Rane
(Madras) Ltd effective April 1. The
exchange ratio will be one share of Rane
(Madras) for every 30 shares of Rane
Diecast. The Hyderabad-based Rane
Diecast makes precision high pressure
aluminium die castings mainly for the
export market. The venture turned around
last year. The company’s sales were
around Rs 65 crore for the year ended
March 31. Rane (Madras), which makes
steering and suspension products,
clocked sales of Rs 640 crore in
2012-13, with a net profit of Rs 23
crore.
http://bit.ly/19NvkWA
Elder Pharma buys UK OTC drugs firm
Max Healthcare
NutraHealth Ltd, a wholly owned
subsidiary of listed drug company Elder
Pharmaceuticals Ltd , has acquired
UK-based Max Healthcare Ltd. The target
company as an OTC business and owns a
range of marketing authorisations and
provides own label and branded OTC
medicines. Max Healthcare will be a
subsidiary of NutraHealth Ltd. and will
be managed in parallel with its
subsidiary Brunel Healthcare
Manufacturing Ltd.
Max Healthcare is predominantly an
outsourced operation with most of its
manufacturing taking place in India.
Opportunities for Elder Pharma to
collaborate in the supply chain will be
explored and vertical integration will
be exploited wherever possible.
http://bit.ly/12znii6
Aurionpro to sell trading software unit
E2E Infotech to Camerontec
Mumbai-headquartered, publicly listed
software and consulting firm Aurionpro
Solutions is to sell its capital markets
technologies business, housed under E2E
Infotech, to Stockholm, Sweden-based
CameronTec Intressenter AB.
http://bit.ly/16KJWEp
http://www.aurionpro.com
Axiss Dental acquires Narayana
Hrudayalaya Dental Clinic
Axiss Dental has acquired Narayana
Hrudalaya Dental Clinic (NHDC) which has
a network of over 30 clinics in
Bangalore. NHDC was started in 2008 as a
subsidiary of cardiac speciality
hospitals group Narayana Hrudayalaya.
Promoted by Dr. Sandeep Sharma and Dr.
Amit Sachdeva, Axiss Dental operates 30
centres across India.
http://bit.ly/17GNY1J
Ikya
buys out Chennai food services
firm, residual 26% in facilities
management firm Avon
Economic Times
in a small transaction, Bangalore-based
Ikya Human Capital Solutions has bought
a food services company in Chennai last
week. Also, in May 2013, it bought the
residual 26% in Avon Facilities
Management (earlier Avon Management
Services). Avon Facility Management
services offers housekeeping and
janitorial services, mail room
management, pantry, pest control,
engineering and maintenance services and
other specialized services. Avon has 16
offices across India and more than 40
million sq ft area under its management
across 600 client locations. Ikya spent
Rs.60 crore to acquire this stake along
with the balance 49% in subsidiary Magna
Infotech. The Avon and Magna deals, in
total, cost Ikya Rs.120 crore.
http://economictimes.indiatimes.com/articleshow/20903939.cms
http://www.indiamart.com/avon-facility-management/
Diageo completes United Spirits
takeover
Mint
Diageo Plc has completed its takeover of
Vijay Mallya-promoted United Spirits
Ltd, nearly eight months after the
companies announced the transaction.
United Breweries (Holdings) Ltd (UBHL),
the holding company of the UB Group, and
other promoter companies sold 14.98% in
United Spirits for 344.19 million
sterling pounds (around Rs.2,070 crore)
to Diageo. Diageo is now the largest
shareholder in United Spirits with a
25.02% stake, while UBHL and other
promoter firms own 11.08%. Diageo also
named two of its nominees and three
independent directors to the board of
United Spirits.
On 9 November 2012, Diageo agreed to buy
a 53.4% stake in United Spirits for
about Rs.11,166.5 crore. The transaction
included the purchase of a 19.3% stake
from UBHL and fresh preference shares
from United Spirits. The British
distiller was to buy the remaining 26%
from the public shareholders.
http://bit.ly/17VOn3Q
Real
Estate Transactions
Singapore’s L&W Construction acquires
land in Bangalore for Rs 100-Cr
Business Standard
L&W Construction Pvt Ltd, a 100%
subsidiary of Singapore's Lee Kim Tah
Woh Hup Pte Ltd, has acquired 25 acres
in Devanahalli, one of Bangalore's most
up and coming locations for a high-end
residential project for Rs 100 crore.
International property consultant Jones
Lang LaSalle was advisor to the deal.
http://bit.ly/12pEK5j
Back to top |
Subscribe to the Deal Digest
Daily
& Showcase your firm's
transactions
|
|
The Daily version
of the Deal Digest newsletter,
delivered by email at 9.30 am on
all working weekdays, captures
all the deal action of the
previous day in an easy-to-read
format. The Deal Digest Daily is
a must have “start the day with”
update for all serious
executives in the Indian deal
ecosystem.
Click Here
for a sample.
Click Here
to request a 3-day
trial.
Advisory Firms subscribing to Venture Intelligence publications, can showcase PE and M&A transactions advised by them in a special section of the Deal Digest. The
Deal Showcase
provides for inclusion of detailed notes on the role played by the advisory firm; the individuals involved in the transaction, etc.
Click Here to Subscribe to
the Deal Digest Daily.
(Select "Series
A" option - Rs.834 per
month only - if you need just
the newsletters) |
|
Fund News |
|
GIC,
Temasek, Oman fund to invest $200-M in
HDFC property fund: report
Reuters
The Government of Singapore Investment
Corp (GIC), investment firm Temasek and
Oman's State General Reserve Fund have
committed to invest $200 million in a
new $500 million real estate private
equity fund from HDFC Property Fund. The
fund's first close is expected by
mid-August and the balance $300 million
is expected to be raised by
end-December. The seven-year fund, for
overseas investors only, aims to
generate annual returns of 23 - 24% and
will invest in residential projects.
http://reut.rs/1b4HtIm
Back to top |
|
Highlighted Sponsor |
 |
Basiz fund service is a India-based
fund accounting
service provider
that services Fund
administrators,
Custodians and Prime
brokers. We
specialize in
various accounting
standards and
instrument
structures. The
primary focus is on
servicing Hedge
Funds, Mutual Funds,
Private Equity
Firms, Family
Offices, Insurance
Portfolios and
Managed Accounts.
Contact
Information
Sesh A.V ACA
Managing
Director
Basiz Fund services
Pvt. Ltd
Phone: +44 207
1934298; Hand Phone:
+919840168554
sesha@basizfa.com
http://www.basizfa.com
Back to top |
|
|
|
Deals in the Making |
Private Equity/Strategic Investments
Morgan Stanley to invest Rs.1,000-Cr in
Wadhwa Group’s BKC project
Mint
Morgan Stanley Real Estate Investing (MSREI)
is in talks to invest Rs.1,000 crore in a
commercial space project of the Wadhwa Group
in Mumbai’s Bandra-Kurla Complex. The deal
is expected to conclude in the current
quarter.
http://bit.ly/12cPrXV
Piramal to buy 10% in Shriram Cap for Rs.
700-Cr
Economic Times
Ajay Piramal promoted Piramal Enterprises is
to purchase a 10% stake in Shriram Capital,
the holding company of Shriram Group's
financial services business and an aspirant
for a banking licence, for a consideration
expected to be between Rs 650 crore and
Rs.700 crore. The deal will provide Piramal
Enterprises access to businesses spanning
transport finance, consumer finance, asset
management as well as life and general
insurance.
TPG Capital owns 11% stake in the company
while South African financial services group
Sanlam owns 26%. The rest is owned by
Shriram Ownership Trust. In May, Piramal
purchased a 9.9% stake in Shriram Group's
truck finance company for Rs 1,652 crore
from TPG Capital. The stake was bought via
block trades on the stock market.
From the Venture Intelligence PE Deal
database: In April 2010 TPG Capital
had invested $ 158 million in Shriram
Capital.
http://bit.ly/17LkCPH
Mobile handsets, peripherals maker Intex
plans fund raise for Rs.200-Cr expansion
Business Line
IT peripherals and electronic items
manufacturing and mobile phone marketing
company Intex Technologies Limited is
looking to raise fund for expansion.
The firm has planned to invest about Rs 200
crore in business expansion. The funding
will be through a mix of internal accruals,
debt and equity investment.
http://bit.ly/1asSNzc
Ex-Godrej exec Mahendran to raise PE
funding; buyout pest control firm ISS
Hi-care
Economic Times
Arumugham Mahendran, who signed off as
managing director of Godrej Consumer
Products (GCPL) last week, is close to
inking two deals worth Rs 600-900 crore. He
is in talks to buy a majority equity stake
in ISS Hi-Care, a pest control services
company, in partnership with strategic
investors. (The target company was set up as
Godrej Hi-Care in 2009. The Godrej Group had
sold the unit to ISS, a Danish company.)
Mahendran is also separately planning
another venture in the FMCG space with a
substantial upfront investment commitment
from a large private equity fund.
http://bit.ly/10vWKgY
Oil India in
talks to buy 20% in Petroceltic's Algerian
asset for $170-M
Business Standard
Oil India Ltd is in talks with Irish
exploration firm Petroceltic International
Plc to acquire up to 20% in Isarene, an
Algerian asset of the company for $170
million (about Rs 1,010 crore). OIL will pay
$20 million upfront and the rest at a later
stage.
Enel SpA, an Italian company, holds a
participating interest of 18.37% in Isarene,
while Sonatrach, another Italian firm, holds
a 25% interest.
http://bit.ly/12D9BdI
Temasek,
Ascendas in talks to acquire Shriram’s IT
SEZ in Chennai for $150-M
Business Standard
Bangalore-based Shriram Properties, the
realty arm of the Shriram Group, has lined
up discussions with global players including
Mapletree (a unit of Temasek) and Ascendas
to sell its Gateway SEZ, a 1.3 million
square feet information technology special
economic zone in Chennai for $150 million.
The company was earlier in talks with
Singapore-headquartered Ascendas, but had to
stop the transaction to iron out some key
issues. Shriram Properties was earlier
looking at a $100 million worth of space to
sell, but it has since scaled up the
portfolio to include a few more residential
and commercial assets so that the deal value
rises to $150 million.
The SEZ - IT park has the potential to
develop 3.2 million sq ft on the 58-acre
land parcel, which Shriram Properties
brought from Standard Motors in 2006. It may
use the proceeds to settle its long-pending
Rs 600 crore debt, which was raised from
German bank Hypo Real Estate Group during
late 2007.
http://bit.ly/15eSoN2
MustSeeIndia
looking to raise Series A capital
Yourstory.in
Online travel guide MustSeeIndia is in talks
to raise series A funding to focuss on its
holiday package business. The company had
raised a seed round of Rs.1.5 crores from
TutorVista founder K.Ganesh in 2011.
http://bit.ly/12i7P2E
http://www.mustseeindia.com
Manpasand
Beverages in talks with WP, Everstone
Business Standard
Warburg Pincus and Everstone Capital are in
talks to acquire 10-15% in Vadodara-based
juice manufacturing and marketing firm
Manpasand Beverages. Manpasand, with a
turnover of Rs 300 crore, is looking for a
valuation of Rs 1,000 crore for the
business. Deloitte and IDFC
Capital are advising Manpasand to find a
suitable investor.
SAIF Partners, already owns a minority stake
in Manpasand with an investment worth $10
million (Rs 60 crore).
http://bit.ly/1cTgvBB
http://www.manpasand.co.in
E-Commerce
firm ShopClues in talks to raise $50-M
Business Standard
Gurgaon-based ShopClues.com is talks with
Warburg Pincus, SoftBank, Digital Sky
Technologies and Goldman Sachs to raise
$30-50 million (Rs 180-Rs 300 crore). In
January this year, ShopClues had raised $10
million from Helion Venture Partners, Nexus
Partners and Japanese business group
Netprice.com. So far, the company has raised
$16 million, including the angel round.
http://bit.ly/14SuJPZ
http://www.shopclues.com/
E-waste
recycling firm Attero in talks to raise
Rs.208-Cr
Economic Times
Noida-based electronic waste recycling
company Attero Recycling is at an advanced
stage of discussions with a number of global
investors for fresh capital to fund its
overseas expansion plans. Texas-based Waste
Management is a leading contender to invest
in Attero which expects to raise up to Rs
208 crore in this round of funding. Along
with Waste Management,a number of global
clean technology-focused private equity
funds are also in talks with Attero. The
existing investors are also expected to
participate in this round of investment
The company has received up to Rs 89.2 crore
in equity and convertible debt over two
previous rounds of funding from investors
including Draper Fisher Jurvetson, Indo-US
Venture, Granite Hill Capital Partners and
IFC. Attero,which earned a monthly revenue
of up to Rs.18 crore in the last financial
year, expects to open its second recycling
plant in Bangalore this August. The first
one at Roorkee in Uttrakahand was set up in
2008.
http://bit.ly/15hhgDK
http://www.attero.in
Future Group to tap PE firms for
Rs.500-Cr stake sale in Biba, AND
Times of India
Kishore Biyani led Future Group is in talks
with private equity investors for selling
stakes in two apparel companies - Indian
ethnic wear brand Biba and designer Anita
Dongre's AND - to raise about Rs 500 crore.
CX Partners, ChrysCapital, TA Associates and
General Atlantic Partners are named among
the potential investors to acquire about 30%
stake in Biba valued at Rs.1,000 crore. L
Capital and Kedaara Capital are in the
short-list to buy stake in AND.
Future had invested around Rs.40 crore in
both these brands almost six years ago.
Future Ventures owns 22% in AND. The
designer's fashion businesses include AND,
Global Desi and eponymous brand Anita Dongre,
which together reported a Rs 275-crore
revenue from 95 stores. Biba has 118
standalone stores with Rs 350 crore of
annual sales and an operating profit of
about Rs 80 crore.
http://bit.ly/18z8WT3
Experiential
travel services firm The Backpacker Co to
raise funds
Economic Times
Mumbai-based Serendipity Travels, which
offers experiential foreign travel services
under the brandnames of The Backpacker Co
and Villa Estate (for luxury trips), is
looking to raise venture capital funding.
The Backpacker Co was started in 2004 by
Yogesh M Shah (who earlier worked with his
family's logistics company) and his wife,
Suchna (who was formerly a cabin attendant
with Singapore Airlines).
http://bit.ly/12DHEm0
http://thebackpackerco.com
P&Ls of 1000s of
Private Companies
at your fingertips!
|
|
Discover Potential Clients /
Investment Opportunities
AND
Research Competitive Landscape
of your Clients / Portfolio
Companies
*P&L of thousands of private
companies
*Powerful search filters to
narrow down and compare cos
*Standardized format enabling
easier comparison
*Custom requests
Click Here for More Details
|
IPOs
Emcure Pharma plans to raise Rs.600-Cr
via IPO
Blackstone-backed Pune-based pharma company
Emcure Pharmaceuticals is looking to raise
around Rs 600 crore through an initial
public offering. The company has filed its
draft prospectus with capital markets
regulator to sell up to 29% stake in the
company. The company has appointed
investment banks DSP Merrill Lynch,
IDFC Capital Limited and Morgan
Stanley to manage the issue. Blackstone
which currently holds 5,918,386 shares
(13.09%) is to sell 1,716,332 equity Shares.
Emcure Pharmaceuticals develops,
manufactures and markets a broad range of
pharmaceutical products in major therapeutic
areas including blood related, cardiology,
pain and analgesics, HIV, gynecology,
nephrology, anti-infective, and vitamins,
minerals and nutrients products.
From the Venture Intelligence PE Deal
database: In July 2006 Blackstone
had invested $50 million in Emcure
Pharmaceuticals.
http://bit.ly/1cKpg0K
http://bit.ly/12aDrX7
http://www.emcure.co.in
Amrapali Capital and Finance Services
files for SME IPO
Ahmedabad-based Amrapali Capital and Finance
Services is issuing 24,01,200 shares of Rs
10 each at a price of Rs.100 per share to
raise Rs 24.01 Crore. The net issue will
constitute 25% of the post issue paid up
share capital of the company. Corporate
Strategic Allianz is the book building
lead manager to the issue. The company will
be traded on the BSE-SME exchange.
The company is in the business of providing
various financial services under one roof
that are well diversified from trading
services in Equity,Future & Options segment
and Currency derivatives segment.
http://bit.ly/12x7ZlG
https://www.amrapali.com
Secondary
Issues
McDonald’s franchisee may look at QIP,
FPO for funds
Economic Times
Hardcastle Restaurants, a development
licensee of American burger chain McDonald's
Corp for the south and west of the country
which merged into a listed group company
Westlife Development six months ago, may
look to raise funds through a qualified
institutional placement (QIP) or a follow on
public offer (FPO). The company is looking
at doubling the number of restaurants from
the current base by financial year 2015.
Hardcastle had 105 restaurants during the
financial year 2010-11 and currently has
161.
This aggressive rollout will parallel the
moves by McDonald's biggest competitor Yum!
Brands, which aims to open 1,000 stores and
clock a billion-dollar revenue across its
brands KFC, Pizza Hut and Taco Bell by 2015
in India.
http://bit.ly/11TkA7q
GCM Commodity & Derivatives files for SME
IPO
Kolkata-based GCM Commodity & Derivatives
has filed the DRHP to issue 35,10,000 shares
of Rs 10 each at a cash price of Rs 20 per
share to raise Rs 7.02 Crore. The net issue
will constitute 47.26% of the post issue
paid up share capital of the company.
Inventure Merchant Banker Services Pvt Ltd
is the book building lead manager to the
issue. The company will be traded on the
BSE-SME exchange.
The company is engaged in the business of
investing in National Spot Exchange Limited
(NSEL) Investment Products for arbitrage
opportunities and commodity broking.
http://bit.ly/17DvbUY
|
Want to Know your
Competitors' P&L? |
|
Dear Entrepreneur Subscriber,
Wish you had intelligence about
your competitors' financials?
Venture Intelligence brings you
"Competitive Intelligence" a
crisp summary of Financials of
your top competitors (even for
Private Limited companies that
are not disclosed elsewhere).
Pricing: Just Rs 5,000 for 3
companies; Rs 1,500 per
additional company.
Just email the list of companies
(that you would like the
financials for) along with
your contact details to
cfs-sales@ventureintelligence.com
|
M&A
R-Digital close to selling 80% stake to
Sun TV for Rs. 2,500-Cr
Business Standard
Reliance Digital TV, the fully-owned
subsidiary of Reliance Communications that
runs its direct-to-home (DTH) operations, is
close to selling over 80% stake to Sun TV in
a deal valued at around Rs 2,500 crore.
Under the agreement, which is being prepared
to be signed within a few days, Reliance
will get a one-time cash payment in return
for infrastructure and assets of Reliance
DTH, while Sun TV will get full management
control over the company. The due diligence
for the deal has already been completed.
After the deal, the combined entity will
have a subscriber base of 13.1 million.
http://bit.ly/16NgBcx
IDFC PE looking to exit Hanjer Biotech:
report
Economic Times
IDFC PE is seeking an exit from unlisted
waste management firm Hanjer Biotech
Energies. IDFC PE along with other
institutional investors own 51% stake in the
company. The company is planning to raise
Rs.1,000 crore by selling anywhere between
20% and 25%. IDFC holds around 25% stake,
other institutional investors 26% and rest
by promoters. The exit at this valuation
would mean around 5-6 times returns for IDFC
PE which had invested Rs 250 crore in the
waste management company which is promoted
by the Mumbai-based Furniturewala family.
The investors are in the process of hiring a
global investment bank for the deal.
Last year, Hanjer had mandated investment
banks Citigroup Capital Markets, Enam
Securities and ICICI Securities to raise
money through a public offer of shares.
However, the IPO did not go through. In
2010, Hanjer Biotech has acquired 70% stake
held by Uflex in a portfolio of municipal
solid waste processing projects for 98 crore
($21 million).
http://bit.ly/12ABCCw
Alok
Industries puts UK retail chain Store Twenty
One on the block
Economic Times
Textile company Alok Industries is planning
to sell UK retail chain Store Twenty One,
which it had acquired five years ago. Alok's
management has been closing down
unprofitable outlets as part of the
company's ongoing cost-cutting and
restructuring efforts. The textile firm has
a long-term debt-equity ratio of almost 2:1.
Established in London in 1932, Store Twenty
One has evolved from being a third-party
manufacturer to retailers like Marks &
Spencer to an apparel and lifestyle chain,
with nearly 200 stores in England, Scotland
and Wales.
http://bit.ly/12xGwES
JSPL looking
to acquire iron ore mine in Liberia
Business Line
Jindal Steel and Power (JSPL) is in talks
with the government of Liberia to acquire
the West African country’s largest iron ore
mine Wologisi in which China has also
evinced interest. The deal could be as big
as $2 billion. If the deal goes through,
JSPL may also set up a 150 MW or 175 MW
coal-based power plant in the West African
country.
http://bit.ly/17rGr6H
Srei arm
scouts for wind power farms
DNA
Srei group-promoted thermal power generation
and distribution outfit DPSC Ltd has floated
expression of interest (EoI) for acquiring
wind power farms. The company is looking at
expanding wind power portfolio through
buyouts, both within the country (where the
company is planning to add another 100 mw)
and also outside the country (where it’s in
advance talks to acquire farms in Europe).
DPSC is primarily a distribution company
with a licence area of 618 sq km in the
Asansol-Ranigunj industrial belt of West
Bengal. Additionally, it has been running a
12 mw plant near Asansol. IPCL, the unlisted
holding company with which DPSC is being
merged, operates windmill capacity of 100 mw
in Gujarat and Rajasthan. DPSC-IPCL is
currently setting up two thermal power
projects in West Bengal, a 540 mw project in
Raghunathpur and another 450 mw plant at
Haldia. In Haldia, DPSC is investing Rs
2,500 crore, while in Raghunathpur, close to
Rs 3,000 crore would be invested. In
distribution, the group now plans to go
pan-India in the public-private and also
franchisee model.
http://bit.ly/17nso25
Unitech in talks with PEs to sell Gurgaon
IT SEZ
Business Standard
Real estate developer Unitech Group, through
its bankers, had approached global investors
like Morgan Stanley, the Singapore
government-owned GIC and Blackstone to sell
its Infotech Special Economic Zone (SEZ) in
Gurgaon. The 3.6-million-sq-ft project at
Dundahera in Gurgaon could have an estimated
value of around Rs 1,800 crore.
Unitech Corporate Parks (UCP), promoted by
the Unitech group’s Chandras and listed on
London’s Alternative Investment Market
(AIM), holds a 60% stake in the SEZ, while
real estate firm Unitech holds the rest. The
sale of the SEZ is part of UCP’s strategy to
exit the assets that are substantially
leased out and completed.
http://bit.ly/10vY4QR
FIs, HNIs in
race for Novotel hotel
Times of India
Fourteen financial institutions and wealthy
individuals have shown interest to acquire
Hyderabad-based five-star hotel, Novotel.
The 305-room property, located at the Rajiv
Gandhi International Airport, has been put
on the block by its owner infrastructure
major GMR Group.
Hospitality specialist HVS India is
running the sale process of Novotel
Hyderabad Airport Hotel, which could fetch a
price of Rs 350 crore. Launched in 2009, the
property is managed by French hospitality
group, Accor. GMR's goal to sell the
property is to use the proceeds to invest in
its other business ventures. Selling the
asset would also help in cutting GMR's debt,
which is over Rs 37,000 crore.
http://bit.ly/1cK6jeL
IL&FS Energy eyes Australian coal miner
Resource Generation
DNA
IL&FS Energy Development Co has shown
interest in the Boikarabelo mine of Resource
Generation, the Australia headquartered
developer of one of South Africa’s richest
coal assets. IL&FS has formed a special
purpose vehicle, Valu Investments Pte, in
joint venture with entrepreneur Jaimin Vyas
for the current bid.
The Boikarabelo mine has about 6.4 billion
tonnes of thermal coal resource in South
Africa’s Waterberg coalfield region, which
is being developed in two stages at a cost
of $530 million. Production would kick off
from 2015 at 6 million tonnes a year, which
is to be scaled up to 25 mtpa later.
http://bit.ly/12inRcN
GMR to sell SEZ land to raise Rs. 550-Cr
Business Standard
Bangalore-based publicly held infrastructure
developer GMR Infrastructure is in talks
with two potential buyers to exit a part of
its land holdings on which it was planning
to develop a special economic zone (SEZ) in
Krishnagiri district of Tamil Nadu. GMR is
understood to be looking to sell a total of
1,100 acres of the close to 3,000 acres it
has for Rs 550 crore.
The SEZ at Krishnagiri was part of GMR's
strategy to get into urban infrastructure
space spanning industrial investment zones
as well as domestic tariff areas. The GMR
Krishnagiri Industrial Investment Zones
Limited is developing an area of
approximately 3,000 acres jointly with Tamil
Nadu Industrial Development Corporation.
http://bit.ly/18zOC4b
Deepak
Fertilsers may buy Poddar stake in MCF
Business Standard
Publicly listed Deepak Fertilisers And
Petrochemicals Corporation is in talks with
Saroj Poddar to buy out his stake in UB
Group promoted Mangalore Chemicals &
Fertilisers. Poddar, chairman of the Adventz
Group, acquired a 10% stake in MCF in April
with the intent of eventually taking over
MCF. Deepak Fertilsers is eyeing a board
berth with an intent that signals towards
management control.
Deepak Fertilisers stands as the holder of
the largest block of shares in MCF with a
24.5% stake. The UB Group has 22% stake in
the company, followed by Poddar’s 10% stake.
http://bit.ly/10CNvLW
Other
Deals - Listed Firms
Govt to sell 7.64% stake in National
Fertilizers to meet norms
Business Line
The Government will divest 7.64% of its
stake in National Fertiliers Ltd (NFL) to
make the public sector unit compliant with
SEBI norms on public shareholding.
Approximately 3.74 crore shares of Rs.10
each will be divested by the Government,
which currently owns 97.64% of the
fertiliser maker. At current market price of
Rs 34.60, the Government could possibly mop
up around Rs 130 crore from the
disinvestment.
http://bit.ly/19NpNPT
DB Corp to merge IMCL’s internet &
mobile biz into itself
Medianama
Publicly listed regional language
newspapers publishing firm DB Corp plan
to demerge the Internet and mobile
interactive business of its digital arm
I Media Corp Ltd (IMCL) into the holding
company DB Corp Ltd. The process of
demerger is expected to be completed in
2013-2014 and following the demerger,
IMCL will continue its events business.
IMCL is presently the digital arm of DB
Corp and manages the group’s website and
mobile properties which includes group
portals like Indiainfo.com,
dainikbhaskar.com, divyabhaskar.com,
dailybhaskar.com, divyamarathi.com,
myfmindia.com and mobile properties.
Synergy Media Entertainment Ltd (SMEL)
that runs conducts outdoor events and
offers outdoor advertising solutions to
brands, has been demerged from DB Corp
merged with IMCL with effect from April
1, 2012.
http://bit.ly/1b1B8xl
Tata Global buys 10.59% more in
plantations firm Kanan Devan
Business Standard
Publicly listed Tata Global Beverages
has acquired an additional 10.59% stake
in Kanan Devan Hills Plantations Company
Private Ltd, a division it hived off in
2005. Tata Global Beverages stake has
now increased to 28.52%. The increase in
stake was to facilitate exit for some
shareholders.
http://bit.ly/16LxF2v
Back to top |
|
Potent Financial Solutions for PE/VC
Portfolio Companies |
|
Make your portfolio companies top
notch in terms of accounting
practices and other compliances
Potent Management Solutions, a
financial consulting firm led by
former Private Equity industry
executive Rajagopalan B, with over
24 years of experience in leading
companies at Strategic levels and
working with PE portfolio companies,
provides the entire gamut of
Corporate Support Services in the
area of Financial Management
including:
-
Outsourced CFO Services or
complete outsourcing of Finance
Function
-
Development and outsourced
management of Financial
Reporting
-
Support for Tax Compliance
-
Advisory and hands-on support
for development and improvement
of accounting and financial
processes and profitability
improvement plans
Write to us for further details at
raj@potentsolutions.co.in or
call +91 97909 94020 |
|
Other News |
|
New
Ventures
NMDC picks IL&FS Energy as JV partner for
power foray
Economic Times
State-owned iron ore miner NMDC has roped in
IL&FS Energy Development Company as joint
venture partner for setting up a 500-MW
thermal power plant in Uttar Pradesh with an
estimated investment of Rs.2,000 crore.
IL&FS will have 74% stake in the venture and
NMDC will have the remaining. IL&FS would
arrange coal for the power plant either
through purchase, auction or long-term fuel
supply agreement. NMDC may also make coal
available for the plant from the Shahpur
East and Shahpur West blocks in Madhya
Pradesh at the prevailing price. The power
to be generated from the plant would be used
for plugging the demand-supply gap of the
state. The balance would be transmitted to
meet the need of NMDC's upcoming three
million tonnes per annum (mtpa) steel plant
at Nagarnar in Chhattisgarh.
Three companies, including IL&FS Energy and
Jindal Power, had evinced interest to be a
JV partner of NMDC for the power plant.
http://bit.ly/1cCkZw9
Shruti Shibulal launches organic products
retail store
Times of India
The family office of Infosys CEO and
co-founder S D Shibulal, Innovations
Investment Management Pvt Ltd (IIM), has
entered the $490-billion Indian retail
sector with the launch of its first store,
Organic World, in Bangalore. Led by
Shibulal's daughter Shruti Shibulal, Organic
World stocks over a 1,000 SKUs of certified
organic food, beverages, home care, apparel,
health and personal care products. The store
retails organically produced apparels
ranging from jeans, inner-wear, kidswear, a
range of menswear and womenswear, and will
soon be adding organic sarees to its basket
of products.
http://bit.ly/19SeaY1
MSC, Adani
Ports form JV to run new Mundra port
container facility
Mint
Geneva-based Mediterranean Shipping Co. SA (MSC)
and Adani International Container Terminal
Pvt. Ltd, have formed an equal joint venture
to run a new container loading facility at
Mundra port in Gujarat. Adani had
constructed the facility at an investment of
Rs.1,650 crore.
http://bit.ly/12kGKvD
AirAsia Group to enter general insurance
biz
Business Standard
AirAsia Group Chief Executive Officer Tony
Fernandes is looking to enter India’s
insurance market through Tune Money. The
venture will be separate from the airline
business. The insurance business will
provide travel, accidents and personal
insurance.
The Group also runs a Tune Hotel operational
in Gujarat.
http://bit.ly/19XPzRA
Expansion/Diversification
Online restaurant reservation service
TableGrabber expands to Brazil & Chile
Medianama
Online restaurant reservation service
TableGrabber has expanded its operations to
Sao Paulo and Rio De Janeiro in Brazil and
Santiago in Chile. It has recruited local
staff in these regions and is currently in
talks with restaurants for tie-ups. Launched
in April 2012, Tablegrabber is an online
restaurant reservation service which claims
to offer real time reservations along with
dynamic pricing depending upon the dining
time. The company focuses on premium hotel,
fine dining restaurants and bars and claims
to offer online reservations for more than
450 restaurants across Delhi, Mumbai and
Bangalore.
The company was part of the recently
graduated second batch of Microsoft’s
accelerator program. It is also a part of
Startup Chile’s forthcoming seventh
generation of startups.
http://bit.ly/1cxZ21j
http://www.tablegrabber.com
QSR operator GFA to invest Rs.40-Cr on
expansion in South India
Times of India
Global Franchise Architects (GFA), a Quick
Service Restaurants (QSR) player that owns
brands like Pizza Corner and Cream & Fudge,
is to invest around Rs 40 crore to add 35
stores across South India this year. By the
end of the year, the company would have 75
Pizza Corner outlets from 61 now, and will
add around 10 Cream & Fudge stores to the 15
existing ones. GFA will also add seven
Coffee World outlets and about 15 The Donut
Baker outlets across India.
http://bit.ly/120R0ti
Omaxe to invest Rs.200-Cr to set up
five-star hotel
Economic Times
Real estate firm Omaxe will invest Rs 200
crore to set up a five-star hotel in New
Chandigarh, where it is developing an
integrated township. The company has joined
hands with the Intercontinental Hotel Group
(IHG) to manage and set up the 150-room
Holiday Inn hotel. This hotel is a step
forward towards creation of a commercial hub
in Omaxe New Chandigarh that will house two
offices and retail spaces - International
Trade Tower and India Trade Tower, alongside
the hotel.
http://bit.ly/11ZYXm2
Welspun Energy to set up 32 MW solar
project in Punjab
Times of India
Welspun Energy's subsidiary Welspun Solar
Punjab will set up two projects of 30 MW and
2 MW each, under the Punjab New & Renewable
Sources of Energy (NRSE) Policy 2012. The
project is expected to be commissioned
during the second quarter of 2014. With the
commissioning of this project Welspun Energy
will be annually feeding 56 million units of
energy into the state grid for 25 years.
http://bit.ly/12dEZiT
People
Pankaj Kalra joins Kotak I-Banking as Senior
ED
Business Standard
Kotak Mahindra Capital Company Limited has
appointed Pankaj Kalra, former MD at Credit
Suisse, as Senior Executive Director. In
this role, Pankaj will oversee and guide
servicing of a number of large corporate and
sectoral relationships. He will report to TV
Raghunath, Managing Director & Chief
Executive Officer, Kotak Investment Banking.
http://bit.ly/13n1Z5j
UTI names Leo Puri as MD
Reuters
UTI Asset Management Co Ltd has appointed
financial executive Leo Puri as its managing
director, concluding a process that has
taken more than two years because of
disagreements among stakeholders. Puri, who
previously worked with McKinsey and Co and
Warburg Pincus, has long been tipped to be
the next UTI chief.
The company had been operating without a
head since its previous chairman and
managing director, U.K. Sinha, departed in
February 2011 to take the top job at
Securities and Exchange Board of India.
http://reut.rs/13tElEo
Citi GC Sandip Beri joins Amarchand
Delhi as partner
Legally India
Law firm Amarchand Mangaldas has hired
Citibank former South Asia general counsel
Sandip Beri as a partner in Delhi. Beri, who
resigned from the bank in May, has 27 years
of practical experience as a lawyer.
http://bit.ly/167iYEO
ELP partner Yashojit Mitra to join
Amarchand
Leagally India
Economic Laws Practice (ELP) Mumbai partner
Yashojit Mitra will join Amarchand Mangaldas
Mumbai as a partner in August. Mitra, who
heads the corporate and private equity
practice at ELP, has been with the firm for
over seven years now.
Meanwhile ELP will add Amarchand principal
associate Vinayak Burman as an associate
partner. Vinayak Burman worked at Rajinder
Narain & Co in Delhi until he joined
Amarchand Mangaldas in 2007. He is currently
a principal associate in the corporate
practice at the firm.
http://bit.ly/1b8YukN
Bharat Rawla appointed MD of Macquarie
Securities India
Economic Times
Banking and financial advisory group
Macquarie Securities India has appointed
Bharat Rawla as its managing director. He
was earlier the MD of Morgan Stanley,
London.
http://economictimes.indiatimes.com/articleshow/20910176.cms
Regulatory News
Defence units in special economic zones
may get 100% FDI nod
Economic Times
The government may allow up to 100% foreign
direct investment in defence units located
in special economic zones (SEZs) on a
case-to-case basis in order to boost
manufacturing of defence equipment and
exports. The current SEZ policy allows 100%
FDI in sectors excluding defence, atomic
substances, narcotics and hazardous
chemicals, distillation and brewing of
alcoholic drinks and cigarettes etc.
http://bit.ly/1aA4UdS
Back to top
|
|
Deal Showcase |
The Deal:
Partners Group’s buyout of CSS Corp
Advisor: S&R Associates
Client: Partners Group
Deal Date: June 26 2013
Deal Value: US$270 million
Deal Description: S&R
Associates acted as Indian counsel for
Partners Group, a global private markets
investment manager, in its acquisition of a
majority stake in CSS Corp, a global
technology support services provider, in a
US$270 million transaction.
Advisory Role: S&R Associates
acted as Indian counsel for Partners Group
Advisory Team: Sandip Bhagat,
Sudip Mahapatra, Dhruv Agarwal, Amy Bharucha
and Srishti Gupta.
More Info:
http://bit.ly/12nY55J
|
The Deal:
Partners Group’s buyout of CSS Corp
Advisor: Spark Capital
Advisors
Client: Selling Shareholders
Deal Date: June 26 2013
Deal Description: CSS Corp (“CSS”)
is a global technology consulting and
support company, in which a group of private
equity funds including SAIF Partners,
Goldman Sachs and Sierra Ventures held
controlling ownership. A consortium of
investors led by Partners Group and
technology investor Sanjay Chakrabarty
(“Investor Consortium”) has acquired
majority stake in CSS Corp from the above
mentioned institutional investors and other
shareholders (“Selling Shareholders”) by way
of a leveraged buyout. The management of CSS
Corp (led by Tiger Ramesh) will collaborate
with the Investor Consortium going forward
to take the Company into its next phase of
growth.
This landmark transaction ranks among the
few leveraged buyouts in the unlisted Indian
IT services space and has, through a unique
and complex mechanism and structure, brought
to fore the use of leverage to engineer a
buyout and provide a successful exit to
existing institutional investors.
Advisory Role: Spark acted as
exclusive financial advisor to the Selling
Shareholders. Spark was instrumental in
ideating the transaction, identifying
investors and forging the consortium,
building an investment thesis and marketing
the buyout idea to the Investor Consortium.
Subsequently Spark, representing the
interests of the Selling Shareholders, led
the transaction negotiations on their behalf
and prepared the Company for a detailed due
diligence by the Investor Consortium. Spark
played a key role in structuring the
transaction, negotiating the definitive
documents and advising on evolving a
suitable mechanism for distribution of
purchase consideration among the Selling
Shareholders.
More Info:
http://bit.ly/12nY55J
|
|
The Deal:
Aurionpro to sell E2E Infotech to
Camerontec
Advisor: Rajani Associates
Client: Aurionpro Solutions
Limited
Deal Description: Acquisition
of 100% stake in E2E infotech by CameronTec
Intressenter AB.
Advisory Role: Rajani
Associates acted for and advised Aurionpro
Solutions Limited in the sale of its capital
markets technologies business, E2E infotech
("E2E"), to CameronTec Intressenter AB ("CameronTec").
Advisory Team: Reena Grover,
Tejasvini Shirodkar and Ankur Singhania
More Info:
http://bit.ly/16KJWEp
Back to top
|
|
About Headland Capital |
 |
|
Headland's team
began advising Asian
private equity funds
in 1989 and operated
its business as HSBC
Private Equity
(Asia) Limited (HPEA)
until 2010. The
funds advised by
Headland have made
investments in more than 140 companies,
primarily in Greater
China, South Korea,
Southeast Asia and
India. Headland
currently has active
capital of
approximately US$2.4
billion.
Contact
Information
Alok Gupta
Partner, India
Headland Capital
Partners (India)
Private Limited
The Capital
701, Plot No. C-70,
G Block , B-Wing,
7th Floor, Bandra
Kurla Complex
Bandra(E),
Mumbai-400051
Tel: +91 22 3953
7447 I Email:
alokgupta@headlandcp.com
http://www.headlandcp.com
Back to top |
|
|
|
About Ascent Capital |
 |
|
Ascent Capital, a leading Indian Private
Equity firm focused on growth capital, manages about $600 million across
three funds. The funds are backed by marquee investors from India and
overseas.
Contact
Information
Ascent Capital,
Concorde Block, 16th Floor, UB City,
#24 Vittal Mallya Road
Bangalore 560 001
Tel: + 91 80 3055 1200
info@ascentcapital.in
www.ascentcapital.in
Back to top |
|
|
|
About Basiz |
|
|
Basiz fund service is a India-based
fund accounting
service provider
that services Fund
administrators,
Custodians and Prime
brokers. We
specialize in
various accounting
standards and
instrument
structures. The
primary focus is on
servicing Hedge
Funds, Mutual Funds,
Private Equity
Firms, Family
Offices, Insurance
Portfolios and
Managed Accounts.
Contact
Information
Sesh A.V ACA
Managing
Director
Basiz Fund services
Pvt. Ltd
Phone: +44 207
1934298; Hand Phone:
+919840168554
sesha@basizfa.com
http://www.basizfa.com
Back to top |
|
|
|
Copyright © TSJ Media Private Limited. All rights reserved.
|
|
|
|
