Data Snapshot* – from the Venture
Intelligence Deal Databases |
Private Equity |
No.
of Deals |
Value
(US$
Millions) |
*As of
August 29, 2012 |
Investments (YTD): |
275 |
6092 |
Click
here
to
access deal by deal PE data |
PE-backed IPOs (YTD): |
3 |
180 (Amt Raised
via IPOs) |
Exits via M&A (YTD): |
34 |
518(Total
Transaction Value) |
Venture Capital |
No.
of Deals |
Value
(US$
Millions) |
Click
here
to
access deal by deal VC data |
Investments (YTD): |
139 |
555 |
VC-backed IPOs (YTD): |
1 |
20 (Amt
Raised via IPOs) |
Exits via M&A (YTD): |
8 |
88
(Total Transaction Value) |
M&A |
Total
No. of Deals |
Click
here
to
access deal by deal M&A data |
Outbound Deals (YTD): |
69 |
Inbound Deals (YTD): |
78 |
Domestic Deals (YTD): |
190 |
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Other Venture Intelligence Products |
1. Databases
|
|
Done Deals
PE / VC Fund Investments
Food & Beverages > Packaged
Foods (Biscuits)
Peepul Capital
acquires majority stake in Unibic Biscuits
for Rs.100-Cr: reports
PE firm Peepul Capital is
acquiring a majority stake in
Bangalore-based
Unibic Biscuits India Pvt. Ltd.,
reports
Business Standard.
The deal size value is placed at around
Rs.100 crore.
For more information:
http://goo.gl/Z4U8M
http://www.unibicindia.com
BFSI > Banking
ChrysCapital acquires
addl stake in Federal Bank for Rs.47-Cr
ChrysCapital, via its
Warhol
unit, has acquired 1,175,000 shares of
publicly listed Federal Bank at Rs.400.74
per share via a bulk deal on the BSE,
aggregating to Rs.47.2 crore. This
constitutes 0.68% of the total outstanding
shares of the company. Post the acquisition,
ChrysCapital holds a 2.09% stake.
From the Venture
Intelligence PE Deal database:
Between April-June 2012, ChrysCapital had
invested $18.5 million (Rs.102.2 crore) for
a 1.41% stake in Federal Bank.
For more information:
http://www.bseindia.com/mktlive/market_summ/bulk_deals.asp
http://www.federal-bank.com
Education > Training &
Certification
IndoUS Ventures, India
Venture Partners invest in Simplilearn
IndoUS Ventures and India
Venture Partners have invested in
Bangalore-based
Simplilearn Solutions Pvt. Ltd.,
which runs
Simplilearn.com,
an online education and training site for
professional certification courses, reports
Medianama.
The company will utilize the funds to expand
its current portfolio of certification
course, add newer geographies and to double
its workforce.
Sumit Jain
and
Rajesh Raju
of IndoUS Ventures have joined the board as
a part of this deal.
K
Law
advised IndoUS Ventures.
From the Venture
Intelligence PE Deal database:
In March-12, IndoUS Ventures and India
Venture Partners had invested $2.80 million
in the company. (Subscribers to the database
can login to view the company financials and
other transaction details.)
For more information:
http://www.medianama.com/2012/08/223-simplilearn-secures-funding-from-iuvp/
http://www.simplilearn.com/company/about-us
http://www.indiavp.com/portfolio.aspx
Energy > Renewable Power
Projects (Hydel)
Infra fund Equis
invests in hydel projects of DANS group
Singapore-based energy and
infrastructure fund
Equis Asia Fund
has acquired a substantial stake in New
Delhi-based
DANS Energy Consulting,
which holds interests in two Indian
companies developing 194 MW hydro power
platforms in northern India, reports
Bar and Bench.
Equis, set up by former Asian Development
Bank and Macquarie executives, has special
focus on investments in energy and
infrastructure sectors across Asia.
HSA Advocates
advised EAF while
Rajah and Tann LLP
advised EAF on Singapore law.
Trilegal
advised DANS.
For more information:
http://goo.gl/QLiOq
http://dansenergy.com
IT & ITES > Gaming (Online)
Tiger Capital invests
in RummyCircle
Tiger Global has invested in
Mumbai-based online gaming firm
Play
Games24x7,
which runs
RummyCircle.com
(formerly Games24x7.com), reports
Moneylife.
The transaction happened in February 2012.
Launched in 2006, the site claims to have
more than 1 million rummy players.
For more information:
http://goo.gl/GxbH4
https://www.rummycircle.com
IT
& ITES > Diversified
Blume Ventures invests
in Framebench, Glamrs, IDfy, Emo2 & Others
VC firm Blume Ventures, along
with individual angels
Maneesh Bhandari
and
Ladsariya Group,
has invested in New Delhi-based Framebench.
Framebench is a collaboration tool
facilitating communication between Designers
and Clients, with support for storage,
demonstration, and interaction.
Blume Ventures, along with
Anil
Chopra,
Sanjay Kamlani
and other angels, has made an investment in
online beauty store Glamrs.
Blume Ventures, along with a
few angel investors, has invested in
Mumbai-based online background checking
company IDfy. The company, founded by
Ashok Hariharan
and
Hatim Baheranwala,
allows users to create a virtual identity by
scanning and uploading their identity
documents and getting their credentials
verified.
Blume Ventures has also made
an investment in app development company
23spaces.
The company is currently developing two
different apps –
Focal,
which aims to organize and enable the
discovery of curated information based on
the context, and
Polo,
which aims to enable users to organize and
discover curated travel experiences.
Blume Ventures, along with
Rajan Anandan,
Zafar Baig
and other angels, has invested in surface
computing company Emo2. The company develops
both hardware and software for touch
screens.
For more information:
http://goo.gl/aVQ6U
http://framebench.com
http://www.glamrs.com
http://www.idfy.com
http://23spaces.com
http://emo2.com/emo2/
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Liquidity Events
Mergers & Acquisitions
IT &
ITES > Online Services (Fashion Retail)
Fashion and You acquires Urban Touch for
$30-M
Smile Group-promoted Fashion and You has
acquired fellow Gurgaon-based fashion
etailer UrbanTouch.com for $30 million in
cash and stock, reports Economic Times.
The acquisition provides an exit for
investors Tiger Global and
Accel Partners. Urban Touch's
founder & CEO Abhishek Goyal,
who was earlier an Associate at Accel, will
now take over as the CEO of Fashion and You.
The post was vacated recently by Fashion and
You co-founder Pearl Uppal.
While Fashion and You focuses on fashion
flash sales that run for a few days, Urban
Touch offers a catalog of over 300 brands in
apparel, beauty and accessories categories.
Post deal, Urban Touch and Fashion and You
will continue to operate as two distinct
websites but will have cross linkages. Urban
Touch's over 200 employees will join the
750-member Fashion and You team and the
leadership team of Urban Touch will hold
stock in the combined entity.
From the Venture
Intelligence PE Deal database:
Urban Touch raised $2.25 M from Tiger Global
and Accel India in early 2011. (Subscribers
to the database can login to view the split
up of the investments, valuation, company
financials, deal structuring and other
transaction details.)
In
December 2011, Sequoia Capital India had
invested $7.65 million in Fashion and You.
In November 2011, Intel Capital, Norwest and
Nokia Growth Partners and Sequoia Capital
India had invested $40 million in the
company.
For
more information:
http://economictimes.indiatimes.com/articleshow/15848894.cms
http://www.urbantouch.com
Hotels & Resorts > Destination Spas
Morgan Stanley to sell
26% stake in IHHR Hospitality: report
Morgan Stanley is selling its 26% stake in
IHHR Hospitality, which owns the Ananda
spa in the Himalayas, to the London-based
Choudhrie family, reports
Economic Times. Morgan Stanley had
bought the stake in 2007 for about $40
million.
The
62% stake that the Choudhries hold in IHHR
Hospitality would increase to over 80% after
the deal. The Choudhrie family also part
owns Gurgaon-based real estate firm Alpha G
Corp.
From the Venture
Intelligence PE Deal database:
Morgan Stanley had acquired a 20.95% stake
in IHHR in Mar-07 for $55-M.
For
more information:
http://economictimes.indiatimes.com/articleshow/15918386.cms
http://www.ihhrhospitality.com
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Angel
Investments
IT & ITES > Networking Tech
(Bandwidth Control Tools)
i7 Networks raises
$750-K
Bangalore-based IT products
startup i7 Networks has raised $250K from
Sharad Sharma,
Rao
Remala
and
Murali Venkat Rao,
reports
Yourstory.
i7 offers Indian companies a suite of
products that helps manage their network
bandwidth. Using i7 EagleEye, companies can
get to know what is happening on their
bandwidth and fine tune it so that they can
get the best performance and ROI while
providing better user experience and
enhanced
productivity.
i7 Networks was established
in May 2012 by former executives at S7, a
software migration firm that was acquired by
US-based Bluecoat Systems in Jan 2010.
For more information:
http://bit.ly/RB3oK2
http://i7networks.in/
Other Private
Equity/Strategic Investments
IT & ITES > Online Services
(Photos)
Info Edge invests
Rs.35-Cr in Canvera Digital Technologies
New Delhi-based listed
Info
Edge (India) Ltd.
has invested Rs.35 crore via optionally
convertible cumulative redeemable preference
shares in Bangalore-based online photography
service firm
Canvera Digital Technologies Pvt. Ltd.
Info
Edge owns and operates Naukri, Jeevansathi,
99acres and other online ventures.
J
Sagar Associates
advised Info Edge on the deal.
Canvera, founded by IIT-Mumbai
alumni
Dhiraj
Kacker
(CEO) and
Peeyush
Rai,
offers various pricing plans to
photographers, including a personalized
website, social media presence, e-commerce
solutions and image storage.
From the Venture
Intelligence PE Deal database:
Canvera had raised funding from Footprint
Ventures and DFJ in Jan-08.
For more information:
http://www.medianama.com/2012/08/223-online-photography-service-canvera-raises-rs-35-cr-from-info-edge/
http://canvera.com
Healthcare & Life Sciences >
Medical Devices
Strides promoter
invests $3-M in Skanray
Arun Kumar,
the promoter of pharmaceuticals company
Strides Arcolab, has acquired a minority
stake for $3 million in
Skanray Technologies,
a Mysore-based medical devices company that
specializes in high-frequency X-ray systems,
dental digital X-ray and imaging,
cardiology, critical care products and
remote health monitoring, reports
Business Standard.
He is expected to invest an additional $20
million, which would be leveraged for a
niche acquisition in the European market.
Kumar is also looking to
invest in other medical equipment companies,
even as Strides is in talks to sell its
injectables business for about $800 million.
http://www.business-standard.com/484850/
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Mergers &
Acquisitions
Mergers &
Acquisitions (Inbound)
Healthcare & Life Sciences >
Pharmaceuticals
Orchid Chemicals to sell penicillin biz to
US firm Hospira for $200-M
Chennai-based listed pharma
firm
Orchid Chemicals & Pharmaceuticals
is to sell its penicillin business to Lake
Forest, US-based listed firm Hospira for $
200 million in cash. The deal includes
Orchid’s Penicillin and Penem API business
and the API facility located in Aurangabad
together with an associated Process R&D
infrastructure located in Chennai. The
business transfer also covers the related
Penicillin and Penem product portfolio and
pipeline. Approximately 830 employees would
be transferred to Hospira.
As some of Orchid’s API
requirements for the Non-penicillin, Non-Penem,
Non-cephalosporin (NPNC) business were
supplied by the Aurangabad facility, Hospira
will supply such NPNC API to Orchid through
a long-term agreement that both companies
have entered into. The sale proceeds will be
utilized for trimming debt and to foray into
newer product verticals.
Khaitan & Co
acted as Indian legal advisor to Hospira,
while
Baker & Mckenzie
acted as Hospira's international legal
advisor.
Amarchand Mangaldas
advised Orchid on the India leg of the
transaction, while
Latham & Watkins
served as Orchid's
international legal counsel.
From the Venture
Intelligence M&A Deal database:
In Dec-09, Hospira had
acquired Orchid's generic injectable
finished-dosage form pharmaceuticals
business for $400-M.
For more information:
http://www.orchidpharma.com/mc_mediareleases_details.aspx?id=43
http://bit.ly/Sg9eqR
Advertising & Marketing >
Advertising (Ad Agency)
Dentsu acquires 51% stake in Taproot for
Rs.140-Cr
Tokyo-based listed
Dentsu Inc.
has acquired a 51% stake in Mumbai-based
advertising agency
Taproot India Communication Pvt. Ltd.
Media reports estimate the deal size at
Rs.140 crore, including an initial upfront
payout of Rs.60 crore and future earn-outs
of Rs.80 crore. Taproot will continue to
operate independently under the management
control of its current leadership.
Founded in 2009 by
Agnello Dias
and
Santosh Padhi,
Taproot has emerged as one of the Cannes
Lions top 20 independent agencies in the
world. The company brings to Dentsu 33
full-time employees and a roster of clients
that includes PepsiCo, Airtel, The Times of
India, Polycab, Marico, Karbonn Mobiles,
Myntra.com, Mumbai Mirror, Nirma, DSP
BlackRock Mutual Fund, UTV Bindass and UTV
Stars.
For more information:
http://www.dentsu.com/news/release/2012/pdf/2012095-0829.pdf
http://economictimes.indiatimes.com/articleshow/15914824.cms
http://www.taprootindia.co.in
Manufacturing > Industrial
Parts (Injection Molding Machines)
L&T to sell Plastics
Machinery biz to Toshiba
Mumbai-based listed
Larsen & Toubro
is to sell its entire stake in
L&T
Plastics Machinery Ltd.
(LTPM) to Japan-based listed
Toshiba Machine Co. Ltd.
(TMCL). LTPM manufactures and markets
injection molding machines catering to
sectors such as automotive, packaging and
stationery. Cross-border I-banking firm
Business Development Asia
(BDA)
was the exclusive financial advisor to L&T
on the sale.
Khaitan & Co.
was the legal advisor to the
acquirer.
TMCL manufactures injection
moulding machines and other machinery at its
manufacturing units in Japan and China. It
currently caters primarily to the Asian and
North American markets. The LTPML
acquisition is in line with TMCL’s strategy
to expand globally with a particular focus
on developing countries.
LTPML was originally formed
as a joint venture with Demag Ergotech GmBH,
L&T Demag Plastics Machinery, in 2000. In
2009, L&T acquired the JV partner’s stake.
LTPML recorded sales of Rs.206 crore and
profit after tax of Rs.11 crore in the
financial year ending March 2012.
For more information:
http://www.bseindia.com/xml-data/corpfiling/AttachLive/Larsen_&_Toubro_Ltd1_270812.pdf
http://www.larsentoubro.com
Mergers &
Acquisitions (Outbound)
Manufacturing > Industrial
Machinery (Pumps)
McNally Bharat
acquires control of UK firm Hayward Tyler
Listed firm
McNally Bharat Engineering Co. Ltd.
(MBECL) has acquired control of UK-based
Hayward Tyler, a £32-million industrial
pumps and motors maker, reports
Business Line.
The
Deepak Khaitan-promoted
MBECL had picked up a 25.27% stake in the
London AIM-listed Specialist Energy Group
Plc (SEG) - the holding company of Hayward
Tyler- over the last two years for Rs.46.06
crore. Last month, MBECL purchased another
16.42% through placement of fresh shares
worth £5 million (Rs.44 crore) in SEG. As a
result, MBE Mineral Technologies Pte Ltd (MBE),
a wholly-owned Singapore-domiciled
investment arm of MBECL, now controls 41.69%
stake in SEG. The final deal also saw MBCEL
providing £4 million (Rs.35.2 crore) loan to
SEG. Three MBE directors have joined the SEG
board.
During the first seven months
this year, Hayward Tyler’s new orders were
£20.3 million against £18.8 million for the
equivalent period last year. MBECL is
planning to introduce the target's line of
pumps in India.
http://www.thehindubusinessline.com/companies/article3851182.ece
Manufacturing > Industrial
Equipment (Compressors)
Elgi Equipments
acquires 100% stake in Italian firm Rotair
Coimbatore based listed Elgi
Equipments has acquired a 100% stake in
Rotair Spa, a Caraglio, Italy-based company
engaged in the design, manufacture and
distribution of compressors and allied
products for the construction and industrial
sectors. The acquisition has been routed
through Elgi’s 100% Italian subsidiary, Elgi
Compressors Italy.
Rotair has an annual turnover
of Euro 15 million with market presence
across Europe and other international
markets.
From the Venture
Intelligence M&A Deal database:
In Feb-09, Elgi had acquired
French air compressors manufacturer Belair
for $1-M.
For more information:
http://beta.bseindia.com/corporates/anndet.aspx?newsid=d52e0e95-9e5a-4ef5-8ae8-4c637ea14cf9
http://www.rotairspa.com/EN/index.aspx
Mergers &
Acquisitions (Domestic)
Manufacturing > Steel
Tata Steel acquires
majority stake in Tata Sponge Iron for
Rs.65-Cr
Publicly listed Tata Steel
has raised its stake in associate firm Tata
Sponge Iron to 51% following the purchase of
an 11.26% stake or 17.34 lakh shares through
a voluntary open offer, reports
PTI.
Tata Steel had launched a voluntary open
offer on July 27 at a price of Rs.375 per
share. The offer closed on August 9.
AZB & Partners
advised Tata Steel on the legal aspects.
Tata Steel had a 39.74% stake
before the start of the offer. It had said
that total funds required for implementation
of the offer (assuming full acceptance)
would be Rs.65.02 crore.
http://www.business-standard.com/india/news/tata-steel-acquires-majority-stake-in-tata-sponge-iron/184459/on
Manufacturing > Steel
JSW Steel merges JSW
Ispat with itself
JSW Ispat shareholders are to
receive one share of fellow publicly listed
JSW Steel for every 72 shares held by them,
reports
NDTV.
The merger will make JSW the second largest
domestic steel producer, with a 14.3 million
tonnes per annum production capacity, after
state-owned Steel Authority of India (SAIL).
Post the merger, Japan-based JFE Steel's
stake in JSW Steel will come down to
14.92%.
In December, 2010, the JSW
Steel had acquired a 41% stake in
debt-ridden Ispat Industries for about Rs.
2,157 crore from its then promoters
Pramod
and
Vinod Mittal
and subsequently renamed it as JSW Ispat
Steel. It also refinanced the latter’s
Rs.6,000 crore debt to bring it out of
corporate debt restructuring. As on June 30,
2012, JSW Steel has 46.75% stake in JSW
Ispat, while the erstwhile promoters, Pramod
and Vinod Mittal hold less than 20%.
http://bit.ly/TP1IhK
Manufacturing
TICL acquires 95.57%
stake in Simto Investment from Voltas for
Rs.30-Cr
Tata Investment Corporation
Ltd.
(TICL) has acquired from Voltas Ltd
.14,62,087 equity shares of Rs.10 each
representing 95.57% of the share capital of
Simto Investment Company Ltd. for a
consideration of Rs.29.68 crore based on a
valuation carried out by an external valuer.
Simto has a paid-up capital of Rs.1.53 crore.
Both TICL and Voltas are publicly listed
companies of the Tata Group.
http://bit.ly/N33c9K
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Other Deals
BFSI > Banking
HSBC offloads entire stake in Federal Bank
for Rs.341-Cr
HSBC has sold its entire 5%
stake in Aluva, Kerala-based private sector
lender Federal Bank for a little over Rs.341
crore through open market transactions,
reports
Mint.
HSBC had held 85.16 lakh shares, or a 4.98%
stake, in Federal Bank through HSBC IRIS
Investments Mauritius Ltd. The shares were
sold at an average price of Rs.401.04
apiece.
Earlier this year, HSBC
offloaded its entire holdings in Axis Bank
and Yes Bank for about Rs.2,425 crore
through open market transactions.
http://www.livemint.com/2012/08/28204209/HSBC-offloads-entire-stake-in.html
Healthcare & Life Sciences >
Pharmaceuticals (Drug Discovery)
Advinus to receive
milestone-linked payments from Japan’s
Takeda
Japanese drug maker Takeda
has advanced about $5 million (Rs.28 crore)
to the Pune-based drug discovery unit of R&D
startup
Advinus Therapeutics,
a Tata Group company, and will get the
‘right of first look’ at any resulting R&D
asset, reports
Startupcentral.
The development is seen as an interim
arrangement to help sustain Advinus’
loss-making discovery operations for the
next six months.
http://startupcentral.in/2012/08/advinus-gets-reprieve-from-japanese-drug-maker-takeda/
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Deals in the Making
Private Equity / Strategic Investments
Energy > Power Projects
KKR, Bain Capital in
talks to buy 30% stake in Lanco’s power biz
for $750-M
PE firms Bain Capital and
Kohlberg Kravis Roberts (KKR) are in talks
to invest about $750 million (Rs.3,892 crore)
for a minority stake in Gurgaon-based Lanco
Infratech, reports Business Standard.
The company has put a higher stake on the
block - around 30% - in some of its
generation projects. Macquarie has been
mandated to facilitate the deal. Lanco had
earlier held talks with energy majors such
as AES of the US and Gaz de France to invest
in its power
business.
Lanco is also planning to
monetize its wind portfolio and its roads
business to bring some additional liquidity
into operations. The company is also looking
for a strategic partner in its solar
vertical.
For more information:
http://www.business-standard.com/484852/
http://www.lancogroup.com
Energy > Renewable Power
Projects (Wind Energy)
Kalyani Group in talks
with PE firms to raise $300-M for Kenersys
The Kalyani Group, promoter
of auto components maker Bharat Forge, is in
talks with PE firms to sell a $300 million
stake in its wind energy firm Kenersys,
reports Reuters. The transaction
would dilute part of the controlling stake
of the Kalyani Group in the alternative
energy firm and also enable First Reserve
Corp, a US-based energy-focused PE firm, to
make a partial exit from an investment it
made in Kenersys in 2008.
Kenersys is an integrated
wind energy company that designs, assembles
and markets wind turbine generators.
http://www.reuters.com/article/2012/08/28/bharatforge-kenersys-idUSL4E8JG17R20120828
Manufacturing > Cement
CVCI in fray for
Rs.400-Cr Shriram cement unit stake: report
Citi Venture Capital
International (CVCI)
is holding talks to invest Rs.400 crore in
the cement unit of the Shriram Group, after
other PE firms dropped out of the fray,
reports Times of India. Shriram Group
initiated the process to sell stake in Sree
Jayajothi Cements in which it acquired 70%
stake earlier this year following conversion
of loans into equity. PE players Blackstone,
KKR and Mount Kellet had shown initial
interest.
Shriram picked a controlling
interest in Jayajothi which has 3.2 million
ton per annum plant in the Kurnool-Kadappa
region of Andhra Pradesh. Original promoter
Jayavilas Group has the remaining shares.
Shriram is looking to induct a financial
partner to revive the cement unit, and would
allow the investor to keep an equal stake
post dilution. The group and its PE partner
would look to sell the business to strategic
buyers in the next four to five years.
http://timesofindia.indiatimes.com/business/india-business//articleshow/15849594.cms
IT & ITES > Online Services
(Marketing)
Ybrant Digital to
raise Rs.250-Cr from Credit Suisse, ICICI
Bank, others
Ybrant Digital, listed on the
BSE recently through its acquisition of the
listed entity LGS Global, will raise Rs.210
crore, including Rs.100 crore from Credit
Suisse and ICICI Bank, through issue of
shares to three firms to fund the future
acquisitions, reports Business Line.
Experian, from which Ybrant
acquired some online business, will get 1.18
crore shares with a face value of Rs.2 each,
totaling Rs.110 crore in one or more
tranches on the basis of preferential
allotment. Post allotment, the holding of
promoters would come down to 39.78% from
41.67%. Experian will have a post issue
stake of 2.42%, Credit Suisse would have
0.54% and ICICI Bank, 1.62%.
http://bit.ly/RC99qT
Energy > Equipment (Renewable
– Solar)
Baring PE, Aditya
Birla PE eye 20% stake in Anu Solar Power
for Rs.100-Cr
Baring Private Equity
Partners and Aditya Birla Private Equity are
in the running to buy a 20% stake in
Bangalore-based Anu Solar Power for Rs.100
crore, reports Economic Times. The
deal may close by the end of September. Anu
Solar Power, which makes solar inverters,
water heaters and provides off-grid power
solutions, reported revenue of Rs.60 crore
in the financial year 2011-12. Advisory firm
Ernst & Young is the lead arranger.
http://bit.ly/OOAoBM
Energy > Renewable Power
Projects (Wind Energy)
Morgan Stanley joins
race to acquire DLF's wind power biz
US-based Morgan Stanley
Infrastructure Partners has joined the
race to buy real estate firm DLF's wind
power business, reports Economic Times.
Bharat Light and Power, a cleantech company
promoted by former GE India President & CEO
Tejpreet Chopra, and
Hyderabad-based Mytrah Energy are among
others interested in the purchase.
Management consultancy
Pricewaterhousecoopers is handling the
sale.
DLF's wind power business is
likely to be valued at about Rs.1,000 crore.
http://economictimes.indiatimes.com/articleshow/15918028.cms
Food & Beverages >
Restaurants (Chinese)
Yo! China in talks to
raise Rs.50-Cr
Moods Hospitality,
the owner of Chinese fast-food restaurant
chain Yo! China, is looking to raise
over Rs.60 crore in the first quarter of
next year to facilitate the expansion of Yo!
China and Dim Sum Bros, reports
Economic Times. The company will open 10
“youth-friendly” cafes over the next one
year as part of a strategy to increase
profitability.
The cafes, with an average
built-up area of 2,000 sq ft, will have
display kitchens and serve alcohol and
specialty desserts. Some existing Yo! China
restaurants could be converted into cafes.
The Rs.50 crore Moods Hospitality operates
50 Yo! China outlets and two fine dining Dim
Sum Bros restaurants in the country.
From the Venture
Intelligence PE Deal database:
In December-2006 Matrix Partners India had
invested $5.50 million in Yo China.
(Subscribers to the database can login to
view the company financials and other
transaction details.)
For more information:
http://economictimes.indiatimes.com/articleshow/15917308.cms
http://www.yo-china.com
Manufacturing > Chemicals
Sanmar to rope in
investor for Egypt biz
Sanmar Group company TCI
Sanmar Chemicals is looking to rope in an
investor for its Egyptian operations,
reports Business Line. It operates a
2 lakh tons a year PVC plant in Egypt.
http://www.thehindubusinessline.com/companies/article3817040.ece
Retail
Designer Duo Ashima
and Leena to raise PE funding
Designer Duo Ashima and Leena
are in the process of tapping PE funding,
reports Economic Times. They plan to
set up a lifestyle store that will sell home
furnishings, crockery, and collectibles and
open an education institute.
http://economictimes.indiatimes.com/articleshow/16028925.cms
Energy > Renewable Power
Projects (Wind Energy)
Techno Electric to
raise PE funding for Simran Wind expansion
Techno Electric & Engineering
is in talks to raise funds from PE players
to fuel future expansion plans in its
subsidiary Simran Wind Project Pvt. Ltd.,
reports Moneycontrol. The firm may
either look at equity injection that will
feed expansion over the next 1-2 years or
tie-up long-term funding.
Last year, IFC had invested
$5 million to acquire a 3.38% stake in
Simran Wind.
http://www.moneycontrol.com/news/business/techno-electric-to-tap-pe-funds-for-simran-wind-expansion_751143.htm
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IPOs
Engg. & Construction
Thejo Engg. plans
Rs.19-Cr IPO on NSE SME platform
Thejo Engineering has
announced a price band of Rs.402-430 for its
IPO on NSE’s SME exchange Emerge, reports
Business Line. The company intends to
raise up to Rs.19 crore through this issue,
which opens on September 4 and closes on
September 6. This would be the first company
to list on Emerge.
Thejo Engineering is in the
business of providing solutions for bulk
material handling, mineral processing and
corrosion protection. It plans to deploy the
IPO proceeds to set up a poly urethane unit
and a lining plant; expand its existing R&D
centre and set up another R&D centre and
invest in its Australian subsidiary.
IDBI Capital is the book running lead
manager for the issue.
http://www.thehindubusinessline.com/markets/stock-markets/article3836431.ece
Secondary
Offerings
Agri-business > Agri
Chemicals
Govt. to sell 12.5% in
RCF
Publicly listed Rashtriya
Chemicals Fertilizers (RCF), the listed PSU
which is India's No.3 urea maker, expects t
he government to start a share sale in the
company during the quarter ending March
2013. The sale would reduce the government's
holding in the company to 80% from its
current 92.5%.
http://bit.ly/PK2qKR
Mergers & Acquisitions
IT & ITES > Mobile VAS
Tech Mahindra in talks
to buy Comviva for around Rs.750-Cr
Mumbai-based IT services firm
Tech Mahindra is in talks to buy the Bharti
Group’s mobile VAS firm Comviva
Technologies for around Rs.750 crore,
reports Economic Times.
Formerly known as Bharti
Telesoft, Comviva is about 50% owned by
Sunil Mittal and his family
through holding firms and trusts. PE firms
Sequoia Capital and Cisco hold a 30% and 5%
stake in the company, respectively, with the
balance 15% is owned by employees.
For more information:
http://economictimes.indiatimes.com/articleshow/15912085.cms
http://www.comviva.com
IT & ITES > IT Hardware
Lenovo in talks to buy
out promoters from HCL Infosystems for
Rs.500-Cr
Global PC maker Lenovo is in
talks to buy out the promoter stake in
publicly listed IT products and services
firm HCL Infosystems for around Rs.500 crore,
reports Financial Chronicle. As of
June end, HCL Infosystems has promoter
shareholding of 50.77%. HCL Corporation is
the single largest promoter entity with a
42.85% stake. Acquiring the promoters’ stake
would necessitate an open offer for another
25% shares by the Chinese firm.
HCL Infosystems markets a
wide range of notebooks and desktop
computers, servers, computer peripherals
such as keyboards, mouse, computer monitors
and gaming consoles.
http://wrd.mydigitalfc.com/news/lenovo-buy-out-hcl-infosystems-033
IT & ITES > BPO (Financial
Research)
Helion Ventures in
talks to sell stake in Amba Research: report
Helion Ventures has been
holding talks with multiple parties as it
looks to exit investment research
outsourcing firm Amba Research, reports
Economic Times. With delivery centers in
Bangalore, Colombo and Costa Rica and sales
offices in New York, London and Singapore,
Amba carries out equity research, credit
research and quantitative analysis for
investment banks, funds and asset managers.
The Amba exit, if consummated, will be the
third exit by Helion since its inception in
2006.
From the Venture
Intelligence PE Deal database:
Helion had invested $10-M in Amba Research
in Jun-07.
http://economictimes.indiatimes.com/articleshow/16039176.cms
Healthcare & Life Sciences >
Hospitals
Moolchand Hospital
seeks acquisitions
New Delhi-based, Sequoia
Capital-backed Moolchand Hospital is looking
to acquire hospital chains, IVF (in vitro
fertilization) clinics and pathological
laboratories, reports Business Standard.
The company plans to spend Rs.500 crore over
the next five years for expansion and
acquisitions.
Moolchand is in advanced
talks with many hospitals in the northern
and eastern parts of India, where it may
kickstart the first phase of expansion.
However, for new verticals like diagnostics,
dialysis centers and fertility-assistance
services, the group is targeting smaller
towns and cities.
From the Venture
Intelligence PE Deal database:
Moolchand had raised $22.28 M from Sequoia
in Jun-11 for a nearly 22% stake.
http://www.business-standard.com/484865/
Engg. & Construction >
Infrastructure (Roads)
IVRCL set to exit
three road SPVs
IVRCL Ltd.,
which has completed the merger process with
IVRCL Assets & Holdings Ltd., is set to sell
three road projects in the South, reports
Business Line. The deals are likely to
be finalized in 3-4 weeks.
http://www.thehindubusinessline.com/companies/article3836483.ece
Shipping & Logistics > Port
L&T to sell part of
Dhamra Port stake
Larsen & Toubro Ltd.
may sell off a part of its stake in
Dhamra Port Company Ltd., an equal joint
venture with Tata Steel Ltd., reports
Wall Street Journal.
http://blogs.wsj.com/dealjournalindia/2012/08/27/larsen-expects-to-sell-part-of-dhamra-port-stake/
IT & ITES > IT Services
NTT keen on more buys
in India
The NTT Group is looking to
buy companies that will propel the growth of
its IT services segment in India and abroad,
reports Economic Times.
http://goo.gl/HTxAs
Engg. & Construction
Wadia Group to exit
from engineering JV Gherzi Eastern
Wadia Group, which exited
from three businesses in the past year, is
now preparing to shed its engineering
business by making an exit from Gherzi
Eastern, an unlisted 50-year-old,
Rs.100-crore design engineering firm which
has built facilities for companies such as
Reliance Industries and Siemens, reports
Economic Times. The divestment plan for
the engineering business will see Bombay
Burmah buying out stakes of the joint
venture partner, the Gherzi family who will
retain the textile engineering business.
Bombay Burmah will sell the residual
business to interested suitors.
The Wadia Group holds 57% in
Gherzi Eastern while the remaining 43% is
with the Gherzi family.
http://bit.ly/TbvX58
BFSI > Banking
HSBC may exit
Karnataka Bank
HSBC is looking to offload
its entire 4.46% stake in listed private
sector lender Karnataka Bank, reports
Financial Express. This is part of
HSBC's global exercise to shore up its
capital by liquidating non-strategic
holdings. The shares are most likely to be
sold through open market transaction. HSBC’s
current holding of 83.99 lakh shares (4.46%)
in Karnataka Bank is worth about Rs 70 crore.
http://bit.ly/Scmmgz
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Fund News
Inno
Group to raise new fund for Chennai housing
Investment group Inno
Group Holdings Ltd. is raising Rs.150
crore from overseas investors, mostly high
networth individuals (HNIs) in Belgium for
its fifth fund to develop a housing project
near Chennai, reports Mint. Inno
Group intends to strengthen its real estate
development portfolio, and has decided to
develop projects on its own.
The firm which has a capital
commitment of about $200 million from its
investors has invested around $65 million so
far in hotel and housing projects in India.
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People
Property fund Indiareit's CEO
quits to start own fund: report
Ramesh Jogani,
MD & CEO of Indiareit Fund Advisors, the
real estate fund unit of Piramal Healthcare,
has quit to set up his own fund, reports
Reuters. He joined Indiareit in 2005-06
and has since raised three domestic funds
sized at a total of Rs.19.5 billion.
http://reut.rs/TORIoN
JM
Financial PE head Harinder Sawhney passes
away
Harinder Sawhney, MD of JM
Financial’s PE business, died of cardiac
arrest, reports Business Standard.
The 45-year-old Sawhney had more than 15
years’ experience in the PE industry. He had
joined JM Financial in 2006. He is survived
by his wife and two children.
http://goo.gl/Z4U8M
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Real Estate News
VGN
Developers in talks to raise Rs.900-Cr
Chennai-based real estate
company VGN Developers Pvt. Ltd. is
in talks with international PE players to
bring in project-level investment, reports
Business Standard. The company is
looking at an investment of around Rs.1,800
crore in the next two years, for land
acquisition and development projects. Of
this, around Rs.900 crore would be equity
and the rest would be debt.
VGN recently launched a 20
acre residential project with around 1,166
apartments on the outskirts of Chennai.
http://www.business-standard.com/484602/
Cipla set to buy Rs.270-Cr
office space in Mumbai
Pharmaceutical major Cipla is
close to buying office space in central
Mumbai in a deal worth over Rs.270 crore,
reports Economic Times. The office
space under consideration - about 1.30 lakh
sq ft at Peninsula Business Park in Lower
Parel - is likely to form the company's new
headquarters and consolidate all its
functions.
http://economictimes.indiatimes.com/articleshow/15863036.cms
Reliance Industries plans
flagship shopping mall in Delhi
Reliance Industries plans to
build a flagship shopping mall in South
Delhi, reports Economic Times. The
720,000 sq ft commercial complex at
Alaknanda will come up on a plot that RIL
won in a Delhi Development Authority bid in
2007 for about Rs.400 crore.
http://economictimes.indiatimes.com/articleshow/15917029.cms
Our Sponsor
KPMG
India's Private Equity Group supports
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New Ventures
Palash
Healthcare forms JV with Jordan firm
Mumbai-based healthcare IT
firm Palash Healthcare Systems has
formed a joint venture with Amman,
Jordan-based Health Information Systems,
reports Business Standard. The 50:50
JV, known as Health 3 Operations,
will primarily focus on tapping the
healthcare segment in Middle East and and
North America. Palash, under the H3O brand,
has launched multilingual (English & Arabic)
versions of its healthcare IT solutions in
GCC countries.
http://www.business-standard.com/484697/
Dhoni
launches bike racing team
Indian cricket captain
Mahendra Singh Dhoni has floated his
own bike racing team which is now competing
in the FIM Supersport World Championship,
reports Business Line. The team,
named MSD R-N Racing Team India,
entered the 17-race championship in the 10th
race at Brno, Czech Republic and is expected
to compete full season in 2013. The team has
two riders in Florian Marino of France and
Dan Linfoot of Great Britain.
Dhoni is part of the
management, while actor Nagarjuna
Akkineni has been mentioned as a
Director. Nandish Domlur, a
cardiac surgeon by profession, is the MD &
CEO of the team.
For more information:
http://www.thehindubusinessline.com/news/sports/article3830951.ece
http://www.msdr-nracing.com
Narayana Hrudayalaya in JV
with US firm TriMedx
Bangalore-based Narayana
Hrudayalaya is in a new joint venture pact
with US-based TriMedx, a subsidiary of
Ascension Health, reports Business
Standard. TriMedx specializes in
reducing expenses, maximizing utilization
and driving profitability through innovative
management programs centered on medical
technology assets. The JV intends to help
small hospitals extend the lifecycle of
costly MRI and other major equipment.
The two partners had already
come together to set up an expansive
healthcare city in the Cayman Islands in an
equal JV, which would have about 2,000 beds
over a period of time at an initial cost of
$60 million.
http://www.business-standard.com/484651/
Kishore
Biyani’s cousins launch luxury retail
company
Kishore Biyani’s younger
first cousins have started a luxury retail
company independent of the retail tycoon’s
Future Group, reports Mint.
Rakesh Biyani, JMD of Pantaloon
Retail (India) Ltd., and Sunil
Biyani, a director of Future
Group, have teamed up to launch Selangor
Retail Pvt. Ltd. The two brothers, sons
of Kishore Biyani’s paternal uncle, will
still keep their roles in Future Group.
Selangor Retail has opened
two stores in Mumbai of Royal Selangor, a
130-year-old Malaysian luxury gift items
brand. Over time, the company will add more
luxury and gift brands from around the
world.
http://www.livemint.com/2012/08/30215017/Kishore-Biyani8217s-cousins.html
Arvind
in glass composites JV with German firm PD
FibreGlass
Textile major Arvind Ltd.
has formed a 51:49 joint venture with
Germany’s PD FibreGlass Group,
reports Business Line. Named
Arvind PD Glass Composites Pvt. Ltd.,
the JV manufactures glass fabrics and has
commissioned the first phase of its
production facility at Santej near Ahmedabad.
http://www.thehindubusinessline.com/companies/article3840632.ece
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Expansion/Diversification
Rashtriya
Chemicals to invest $1-B in Canadian potash
mines
Publicly listed Mumbai-based
Rashtriya Chemicals and Fertilizers
Limited (RCF) is considering a $1
billion investment in Canadian potash mines
to secure long-term supply of the soil
nutrient, reports Economic Times.
http://bit.ly/PK2qKR
Videocon
plans Rs.900-Cr investment in Punjab telecom
biz
Diversified Videocon Group on
Monday announced to invest Rs.800-1,000
crore in telecom business in Punjab, reports
Business Line. The company plans to
set up an IT hub for its entire telecom
business at Mohali, a call centre with 500
seats at Jalandhar and additional
1,200-1,500 towers especially in rural areas
to expand coverage.
The company may also consider
investment in setting up an assembly unit
for LCD and washing machines in the state.
http://www.thehindubusinessline.com/companies/article3827991.ece
Premier Explosives sets up
new plant in Andhra
Premier Explosives Ltd.
has set up a new emulsion explosives plant
at Nalgonda district of Andhra Pradesh,
reports Business Line. The plant will
have a capacity to produce 5,000 tons of
packaged explosives a year. It is a new
product from the company which specializes
in producing a range of explosives to meet
the requirements of mining and allied
industries.
http://www.thehindubusinessline.com/companies/article3828411.ece
Jain TV Group launches DTN
venture
The Jain TV Group has
launched its direct to network service (DTN)
to offer distribution of digital satellite
television signals to cable operators in the
country, reports Deccan Herald. To
start with, the broadcast company will offer
200 standard definition and high definition
channels. It also plans to achieve capacity
to offer 500 channels including 30 HD
channels and value added services later.
The Jain TV Group’s Noida
Software Technology Park (NSTPL) has signed
a multi-transponder agreement with Intelsat,
a provider of satellite services worldwide,
for C-band capacity to launch the Headend-In-The-Sky
(HITS) platform as JAINHITS. Motorola and
KIT digital are also partners in the
venture.
http://www.deccanherald.com/content/275098/jain-tv-group-launches-dtn.html
India Seamless forays into
lighting business
Pune-based aircraft
manufacturer India Seamless Group has
forayed into the consumer lighting business
by launching LightO Technologies Pvt.
Ltd., reports Business Standard.
The new company will operate in India, Sri
Lanka, Bangladesh and Nepal.
http://www.business-standard.com/484894/
Baldota
plans Rs.300-Cr gold mining plant in
Karnataka
Hospet-based Ramgad
Minerals and Mining Ltd., a Baldota
Group company, is in advanced stages of
beginning gold mining operations at the
Gadag district of Karnataka, reports
Business Standard. It will set up a
1,000 tons per day gold ore processing plant
at an initial investment of Rs.300 crore.
http://www.business-standard.com/484915/
Education Deals Valuation
Report |
The Education
Industry focused edition of the
Venture Intelligence Valuation
Insight - India's First & Only
Sector Focused Valuation Report &
Company Financial Performance
Scorecard
- captures:
-
Valuation
Multiples of Education companies
- grouped by sector - based on
latest transactions (both PE/VC
and M&A)
-
Valuation
trends in sectors and
sub-sectors
-
Financial
performance of individual
companies
Sample Highlight
P&L |
FY07 |
FY08 |
FY09 |
FY10 |
FY11 |
Company1 |
- |
- |
1.90 |
3.09 |
4.30 |
Company2 |
91 |
94 |
82 |
66 |
72.45 |
OPEX Breakup (Sample)
Faculty Charges |
FY07 |
FY08 |
FY09 |
FY10 |
FY11 |
Company1 |
- |
- |
1.12 |
1.42 |
- |
Company2 |
3.83 |
4.01 |
4.95 |
3.54 |
5.32 |
Advt & Promotion |
FY07 |
FY08 |
FY09 |
FY10 |
FY11 |
Company 1 |
- |
- |
0.14 |
0.23 |
0.43 |
Company 2 |
5.24 |
6.47 |
11.43 |
6.37 |
7.24 |
Company 3 |
2.65 |
3.92 |
4.90 |
9.05 |
9.14 |
Sectorwise Reports are
also available.
The
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- Test Preparation
- Vocational Education
- Training & Tutoring
- E-Learning
- Content Services
- K-12 Education
- Higher Education
- Pre-School & Daycare
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|
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People
Mouli
Raman named OnMobile MD
OnMobile Global
has decided to appoint two different persons
for the positions of MD and CEO, thereby
splitting both the positions, reports
Medianama. It has appointed the
company’s co-founder and Executive Director
Mouli Raman as its MD, while it is still on
the lookout for a new CEO.
This development essentially
means that Raman is no longer the Interim MD
after he took over that position in July
2012, following the resignation of OnMobile
Co-founder MD & CEO Arvind Rao.
http://goo.gl/rIxsT
Rajnikant
Patel quits Indian Commodity Exchange
Rajnikant Patel has stepped
down from his current post of MD & CEO of
Indian Commodity Exchange (ICEX), reports
Economic Times. Patel, who was
responsible for the corporatization and
demutualization of BSE in 2005, will
continue to stay on the board as director.
For more information:
http://economictimes.indiatimes.com/articleshow/15974398.cms
http://www.linkedin.com/in/rajnikantfpatel
Tata Power Solar Systems
appoints Ajay Goel as CEO
Tata Power Solar Systems
(formerly Tata BP Solar India) has appointed
Ajay Goel as the CEO. An alumnus of IIT-Delhi
with an MBA from the University of Chicago,
Goel brings over 20 years of industry
experience.
http://www.tata.com/article.aspx?artid=T9I0nfRn+6c
Ravi
Uppal set to join Cairn India next month
Ravi Uppal, MD & CEO of L&T
Power, is set to join Cairn India, part of
the $11 billion Vedanta Group, reports
Business Standard. Uppal will succeed
CEO Rahul Dhir, who is leaving
the company on August 31 after being at the
helm for six years.
http://www.business-standard.com/484680/
Arundhati
Bhattacharya to head SBI Caps
State Bank of India (SBI) has
appointed Arundhati Bhattacharya as the MD &
CEO of its merchant banking arm SBI Capital
Markets, reports Business Standard.
She will replace S Viswanathan.
http://bit.ly/NKR2y2
Regulatory
Shome
panel recommends doing away with Capital
Gains tax
Parthasarathi Shome,
the head of a committee set up to sort out a
host of tax problems plaguing investors, has
said foreigners would prefer to invest
directly in India rather than route money
through low-tax jurisdictions such as
Mauritius if Asia's third-largest economy is
able to create an environment in which
foreign capital feels welcome. By the end of
this month, the Shome-helmed panel will come
up with final recommendations on so-called
indirect transfers or overseas deals in
which some or all of the underlying assets
are Indian.
http://economictimes.indiatimes.com/articleshow/16226913.cms
SEBI
allows partial fungibility of IDRs; may cut
IPO listing time to 7 days
Market regulator SEBI has
allowed conversion of up to 25% of Indian
depository receipts (IDRs) into underlying
shares in a year, reports Business
Standard. The move is to implement the
budget proposal and to improve the
attractiveness of IDRs as an instrument.
Currently, Standard Chartered is the only
foreign entity that has listed its IDRs on
the Indian bourses.
SEBI also plans to reduce the
listing time for an initial public offering
(IPO) from 12 days from the closure of an
issue to seven days. It would issue a
circular to facilitate applications for IPOs
electronically — through stock brokers
across many cities — soon. Those preferring
not to deal with brokers may download the
application forms directly from the stock
exchange’s website and view the status of
their applications online.
For more information:
http://www.business-standard.com/484755/
http://www.business-standard.com/484730/
SEBI to ask companies for IPO
pricing details
Market regulator SEBI may ask
companies and merchant bankers to limit any
business transactions amongst them to bare
minimum and to provide investors with a
detailed analysis of how they discover the
IPO price range, reports Financial
Express.
The proposed steps are aimed
at safeguarding the investors' interest and
ring-fencing the IPO market from possible
over-pricing of the public offers through a
nexus between the company promoters and
merchant bankers.
http://bit.ly/OMfSlg
SEBI
amends rules on promoter stake sale routes
Market regulator SEBI amended
its rules to allow promoters to use rights
and bonus issue of shares for dilution of
their stake to meet minimum public holding
norms, reports Mint. SEBI also said
that it would consider any further
relaxation in this matter on case by case
basis. The promoters will have to forego
their entitlement to shares being issued in
such rights and bonus issues.
http://www.livemint.com/2012/08/29172923/Sebi-amends-rules-to-allow-fre.html
Competition watchdog may
have its say on all M&As
The Competition Commission of
India (CCI) is likely to be empowered to
have jurisdiction on mergers and
acquisitions, reports Business Standard.
The proposed amendments in the Competition
Act, 2002, are expected to be considered in
a cabinet committee meeting in the coming
week. The ministerial panel would evaluate
recommendations of a group of ministers (GoM)
headed by Finance Minister P
Chidambaram, which suggested mergers
and acquisitions, including those in the
banking, telecom and pharmaceuticals
sectors, be under CCI’s purview.
http://www.business-standard.com/484880/
Venture Intelligence Limited
Partner Directory
Dear Subscriber,
We are happy to announce the
launch of our latest India
Limited Partner Directory –
2011. The directory contains a
listing (along with their
contact details) of more than
200 Limited Partners who are
actively investing or looking to
invest in Indian PE and VC
funds.
Click here to request for a
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Other News
SC orders Sahara to refund Rs.
24,000-Cr
The Supreme Court has ordered
two of Sahara Group companies- Sahara India
Real Estate Corporation (SIREC) and Sahara
Housing Investment Corporation (SHIC) - to
refund around Rs. 24,000 crore to their
investors within three months with 15%
interest per annum, reports Financial
Express. If the companies fail to refund
the amount then SEBI can attach properties
and freeze bank accounts of the companies.
The Court also appointed one of its retired
judges Justice B N Aggarwal to oversee the
action taken by SEBI against the two Sahara
firms.
The group might have to fork
out around Rs 38,000 crore as of now which
includes the principal amount of Rs
24,029.73 crore and interest of around Rs
14,000 crore. .
http://bit.ly/PUXxjO
Karuturi restructures FCCB
redemption payments
Publicly-held flower exporter
Karuturi Global has tripped up on paying
back $55 million which it had earlier raised
through the FCCB route. The company has now
restructured the bonds and has got RBI
approval to pay back the bond holders after
a year with an additional 7 per cent
interest added on to it.
The company which is
embarking an ambitious $300 million
agriculture foray in Ethiopia by growing a
range of cereal and plantation crops,
suffered a severe setback during late 2011
due to heavy floods in the region.
http://bit.ly/RAVP67
Aditya
Birla Nuvo to rework Pantaloons deal value:
report
Aditya Birla Nuvo is set to
rework its deal for a controlling stake in
Pantaloons after the latter's June quarter
business fell below estimates, leading to a
slight valuation drop, reports Times of
India.
Aditya Birla Nuvo had
announced plans to buy a 50.1% stake in
Pantaloons in May this year for Rs. 800
crore in cash while taking on a similar
quantum of debt. The deal entailed Pantaloon
Retail India (PRIL), with diversified
retailing interests, demerging lifestyle
stores into a separate entity. Aditya Birla
Nuvo planned subscribing Rs 800 crore
debentures of PRIL, to be converted into
equity of the demerged business, besides
assuming the debt.
http://timesofindia.indiatimes.com/articleshow/15913112.cms
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Deal Showcase - Transaction Advisor
The Deal: Accel
Partner’s US$18 million investment in
BookMyShow
Advisor: Avendus
Capital
Client: Bigtree
Entertainment Pvt. Ltd (BookMy Show)
Deal Date: August
24, 2012
Deal Value: USD 18
million
Deal Description:
Bigtree Entertainment Pvt. Ltd., the holding
company of India’s leading entertainment
ticketing website BookMyShow.com, announced
an investment by Accel Partners, one of the
leading global investors in Internet
businesses. As a part of this transaction,
Accel will invest US$18 Million through a
primary infusion of capital and secondary
sale of shares from existing investors.
Advisory Role:
Avendus Capital was the sole financial
advisor for this transaction.
More Info:
http://bit.ly/Q063Qs |
---
The
Deal: Oman India Joint Investment
Fund’s investment in Indus Teqsite Private
Limited
Advisor: Veda Corporate
Advisors
Client: Indus Teqsite Private
Limited
Deal Date: August 27, 2012
Deal Value: Rs.55 crores
Deal Description: Indus
Teqsite Private Limited ("Indus Teqsite")
raised private equity of Rs.55 crores from
Oman India Joint Investment Fund ("OIJIF").
The investment would be used by the Company
to strengthen its production and technology
infrastructure.
Advisory Role: Veda Corporate
Advisors was the exclusive advisor to Indus
Teqsite in the transaction. Veda had also
advised the Company in its previous round of
private equity fund raise in 2004.
More Info:
http://industeqsite.com |
-----
The
Deal: Debt Transaction for Das
Offshore Engineering Pvt Ltd
Advisor: Varhad Capital Pvt
Ltd
Client: Das Offshore
Engineering Pvt Ltd
Deal Date: August 28, 2012
Deal Value: INR 250 million
Deal Description: Arranged
debt for DOEPL from ICICI Bank
Advisory Role: Lead Manager
Advisory Team: Prasad Dahapute,
Souvik Chatterjee
More Info:
http://www.dasgroup.co.in/ |
Deal Showcase - Legal Advisor
The Deal: L Capital’s
investment in PVR
Advisor: AZB &
Partners
Client: L Capital
Eco Ltd
Deal Date: August 1,
2012
Deal Value: In PVR
Limited – approx. INR 577 million (approx.
USD 10.5 million)
In PVR Leisure Limited – approx. INR 500
million (approx. USD 9.1 million)
Deal Description:
(a) Acquisition of 10 % of the share capital
of PVR Limited by the Investor for
approximately INR 577 million (approx. USD
10.5 million); and
(b) Acquisition of 44% of the equity
shareholding in PVR Leisure Limited and
convertible preference shares by the
Investor for approximately INR 500 million
(approx. USD 9.1 million).
Advisory Role: AZB &
Partners advised on all legal aspects of the
transaction including due diligence,
structuring, drafting and negotiation of
transaction documents.
Advisory Team:
Vinati Kastia
More Info:
http://bit.ly/U78wcB |
-----
The
Deal: Tata Steel to acquire Tata
Sponge Iron
Advisor: AZB & Partners
Client: Tata Steel Limited
Deal Date: August 24, 2012
Deal Value: Approx. INR 650
million (Approx. USD 11.70 million)
Deal Description: Tata Steel
Limited had initiated a voluntary open offer
to acquire 1,734,040 equity shares from the
equity shareholders of the target at an
offer price of approx. INR 375 per equity
share. This open offer was accepted by the
equity shareholders of Tata Sponge Iron
Limited, thereby increasing Tata Steel’s
stake in the Target from 39.74% to 51.00%.
Advisory Role: AZB & Partners
advised Tata Steel Limited in relation to
various aspects of the Takeover Regulations
and assisted Tata Steel Limited in
negotiating and finalising the transaction
documentation, the letter of offer and the
advertisements.
Advisory Team: Shameek
Chaudhuri & Varoon Chandra
More Info:
http://bit.ly/QOkgfE |
|