indcap newsletter€¦ · british telecom company vodafone has exited from bharti airtel by selling...

Indcap Advisors Pvt. Ltd. Mumbai I New Delhi I Kolkata I Bangalore I Ahmedabad

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Indcap

NEWSLETTER

May, 2015


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CONTENTS

Private Equity and Mergers & Acquisitions 3

M&A Deals – May 2015 4

PE Deals – May 2015 5

Indcap Opportunities 6-7

Markets/ Commodities 8

May, 2015


Bandhan Financial Services has raised INR 10,200 Mn equity from International Finance

Corporation, Singapore's sovereign wealth fund GIC and Small Industries Development Bank of India

Foodpanda.com, a Rocket Internet-backed global, multi-location online food ordering marketplace, has raised INR 6,300 Mn funding led by global financial services giant Goldman Sachs

Gurgaon-based e-commerce logistics firm SSN Logistics Pvt. Ltd (Delhivery), has raised INR 5,355 Mn in its Series D round of funding led by Tiger Global with participation from existing investors Multiples Alternate Asset Management, Nexus Venture Partners and Times Internet Ltd.

Coraza Technologies Pvt. Ltd, which runs an online customer feedback platform Akosha.com, has raised INR 1,000 Mn in Series B round of funding led by existing investor Sequoia Capital

Mumbai-based Godavari Biorefineries Ltd., a manufacturer of biofuels, specialty chemicals and related products, has raised INR 945 Mn from Mandala Capital

Mumbai-based Haygot Education Pvt. Ltd., which owns and operates online test prep venture Toppr.com, has raised INR 635 Mn in Series B round of funding led by Fidelity Growth Partners India

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British telecom company Vodafone has exited from Bharti Airtel by selling its 4.2 per cent stake in

the Indian telecom major to an arm of Bharti Group.

Fortis Healthcare has sold its Singapore-based healthcare services unit RadLink-Asia Pte Ltd. and its subsidiaries to Fullerton Healthcare Group for INR 5,300 Mn

Saroj Kumar Poddar-controlled Adventz Group firm Zuari Fertilisers and Chemicals Ltd. has acquired an additional 36.56 per cent stake in UB Group firm Mangalore Chemicals and Fertilizers Ltd.

Max Healthcare Institute Ltd. has acquired 76 per cent in Pushpanjali Crosslay Hospital through a combination of fresh investment and acquisition of shares from existing promoters for an aggregate sum of INR 2,870 Mn

Public listed real estate developer Nitesh Estates Ltd. has bought a shopping mall measuring 1 million sq ft in Pune through a wholly owned subsidiary for INR 2,500 Mn

Pune-based Simran Wind Project Pvt. Ltd. has sold 44.45 megawatt wind power assets in Tamil Nadu for INR 2,150 Mn

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May, 2015


M & A Deals – May 2015

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*INR to USD conversion rate considered at USD 1 = INR 63 N.A. – Not Available

May, 2015

Target Deal Type Buyer Industry Deal Value

Stake (%) INR in Mn

Bharti Airtel Limited Acquisition Bharti Enterprises (Holding) Private Limited

Telecom 12,600 4.2

RadLink-Asia Pte. Ltd. and its subsidiaries

Acquisition Fullerton Healthcare Group

Healthcare 5,300 100

Mangalore Chemicals and Fertilizers Ltd

Acquisition Zuari Fertilisers and Chemicals Ltd.

Chemicals 3,980 36.56

Pushpanjali Crosslay Hospital Acquisition Max Healthcare Institute Ltd.

Healthcare 2,870 76

Shopping mall measuring 1 million sq ft in Pune

Acquisition Nitesh Estates Ltd. Real Estate 2,500 N.A

Simran Wind Project Pvt. Ltd.’s 44.45 megawatt wind power asset in Tamil Nadu

Acquisition Undisclosed Buyer Renewable Energy 2,150 N.A

Sonarome Pvt. Ltd. Acquisition Frutarom Industries Ltd.

Foods & Agri 1,084 60

Unicel Technologies Pvt. Ltd. Acquisition mGage Technology 1,000 N.A

Accelity BestAtLowest Online Services Pvt. Ltd.

Acquisition Getit Infomedia Pvt. Ltd.

Technology 630 N.A

Luminous Renewable Energy Solutions Pvt. Ltd.

Acquisition Enzen Global Solutions Pvt. Ltd.

Renewable Energy 126 N.A

Social Samosa Acquisition Unnamed private investors

Technology 30 N.A

Inspirock Inc. Acquisition MakeMyTrip Ltd. Technology N.A 18

AbbeyPost Acquisition Sourceeasy Inc. Technology N.A N.A

Native5 Software Solutions Pvt. Ltd.

Acquisition Myntra Designs Pvt. Ltd.

Technology N.A N.A

Harris Performance Products Ltd.

Acquisition Royal Enfield Automobiles N.A N.A


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PE Deals – May 2015

May, 2015

Company Industry Investor Amount

Equity (%) INR in Mn

Bandhan Financial Services Pvt. Ltd.

Banking/ Financial Services

GIC, IFC & Others 10,200 N.A

Foodpanda.com Technology Goldman Sachs & Others 6,300 N.A

SSN Logistics Pvt. Ltd. Technology- Logistics Tiger Global & Others 5,355 N.A

Coraza Technologies Pvt. Ltd.

Technology Sequoia Capital & Others 1,000 N.A

Godavari Biorefineries Ltd. Specialty Chemicals Mandala Capital 945 N.A

Haygot Education Pvt. Ltd. Technology- Education Fidelity Growth Partners India, SAIF Partners and Helion Venture Partners

635 N.A

TrucksFirst Services Pvt. Ltd.

Logistics SAIF Partners 618 N.A

Millennium Tower-I in Kolkata

Real Estate An undisclosed ultra HNI based out of Bangalore

500 N.A

GoldVIP Technology Solutions Pvt. Ltd.

Technology Accel Partners and Helion Venture Partners

340 N.A

Square Yards Consulting Pvt. Ltd.

Services- Real Estate A clutch of unnamed investors 320 N.A

Vedantu Innovations Pvt. Ltd.

Technology- Education Accel Partners and Tiger Global Management.

320 N.A

Sunshine Tea House Pvt. Ltd .

Food & Beverages Tiger Glober & Others 320 N.A

NDTV Ethnic Retail Ltd. Technology KJS Group 315 N.A

Vishwakarma Real Estates & Constructions (I) Pvt. Ltd .

Real Estate Jones Lang LaSalle Segregated Funds Group

250 N.A

*INR to USD conversion rate considered at 1 USD = 63 INR N.A. – Not Available


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May, 2015 IN

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Sector Location Opportunity Brief Key Highlights

Renewable Energy

Andhra Pradesh

The Company is an integrated construction, infrastructure development and management company in India

5 MW operational solar power plant Installed capacity : 5 MW PV Technology : Multi crystalline Land : 45 acres Tariff : PPA with NVVN - Rs. 11.97 per unit (Fixed

for 25 years since COD) COD : 5th July 2013 PLF : 18%

Stainless Steel

New Delhi

The Company is one of the leading manufacturers and exporters of Stainless Steel architectural fittings from India

Manufactures furniture Handles, door handles, escutcheons, knobs, flush pulls, numerals, brackets, bathroom accessories & various other decorative hardware items in Stainless Steel

Plant in NCR – 1,900 sq mtrs of land, 23,000 sqft of build up area

Has a strong design competence with facility equipped to provide in-house designing and development

Long Standing relationship with large International Clienteles including Fortune 500 companies.

Buy Side Opportunities

Sector Location Company Brief Acquisition Criteria

Chemicals Gujarat The group is engaged into manufacturing of dyes, pigments, caustic etc.

The company is diversifying into API and is interested in acquiring USFDA approved API Unit.

Looking for running plant with all USFDA approvals for its API Products

Acquisition Size<= INR 500-1,000 mn.

FMCG Gujarat The company is a leading player in the Chemicals and Cement business

The company is looking to acquire large size cement unit having capacity of more than 3.0 mn tonnes

Preferred Location- Western Part of India Lime reserve and captive power plant associated

with cement plant would be most preferred


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May, 2015

Sector Location Company Brief Acquisition Criteria

FMCG India The company is engaged in the manufacturing of FMCG products and is exploring to diversify into new businesses.

In FMCG • Sector includes Personal care products (natural

and Ayurvedic), Baby Care Products, Vitamins, Minerals & Dietary Supplements (VMS)- Natural & Herbal, Consumer Durables, Food Sector

• Revenue Size – INR 250 Mn to INR 1000 Mn. • EBIDTA – Should be positive • Scalable Business • Should have regional or Pan India presence

In Healthcare • Clinical Diagnostics centers, Fertility centre etc.

In Cement • Cement Grinding unit of about 1.0 mn tonne

capacity • Sufficient land preferably with railway siding • Location: W.B, Jharkhand, Odisha & Bihar • Captive Limestone mine would be preferred

Renewable Energy • Solar Power plant with crystalline technology • PPA scheme should be under central Govt.

Scheme like JNNSM-Batch

Any new disruptive technology oriented business

Real Estate Gujarat They are a group of ultra HNIs running large chain of multiplexes and hospitality services in Gujarat

Interested in acquiring 5 Stars Property in Goa, Kerala or any of the metro cities

Looking for any sizable commercial real estate property fetching good lease rentals

Looking for IRR of around 12-15%

Architectural Hardware Fittings

New Delhi

The Company is one of India’s most popular Architectural Hardware Solution provider through a wide range of standard & customized products

The company is looking for acquisition in the following space: • Door manufacturers- Fire door, clean room used

in pharmaceutical and hospital • Kitchen manufacturer - Prefer into retail but can

also look in commercial • Electronic home security- example door phone

Looking at companies with revenue INR 500-1000 Mn

Buy Side Opportunities


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Indcap Advisors Pvt. Ltd. Offices

Kolkata New Delhi Mumbai

Chitrakoot, Suite # 68, 6thFloor, 230A, A.J.C Bose Road,

Kolkata – 700 020 Ph. No.:- +91 33 3052 4446 Fax No.:- +91 33 3052 4446

823, DLF Tower A Jasola District Centre New Delhi – 110 025

Ph. No.:- +91 11 2694 2340/ 41/ 42

Suite # 603, 6th

Floor, Balarama Bandra Kurla Complex, Bandra (E)

Mumbai – 400 051 Ph No.:- +91 22 3058 4445 Fax No.:- +91 22 3058 4450

Bangalore Ahmedabad

2003, Embassy Habitat 59, Palace Road

Bangalore – 560 052 Ph. No.:- +91 96423 21155

A-707, Infinity Tower Corporate Road, Prahladnagar,

Ahmedabad – 380 015 Ph. No.:- +91 79 4002 6336

www.indcapadvisors.com

Disclaimer

This document is issued by INDCAP ADVISORS PVT. LTD. The information contained herein is derived from various public documents we believe to be reliable, but which we have not independently verified. INDCAP makes no guarantee as to the accuracy or completeness of this information and is not responsible for errors of transmission of factual or analytical data, nor shall it be liable for damages arising out of any person’s reliance upon this information. The opinions in this document constitute our present judgment, which is subject to change without notice. The document is intended to be distributed in its entirety. No consideration has been given to the particular investment objectives, financial situation or particular needs of any recipient. Unless governing law permits otherwise, you must contact a INDCAP member in your home jurisdiction if you wish to use INDCAP services in effecting a transaction in any investment mentioned in this document. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, on any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of INDCAP.

Stock Indices Opening

(1st May’15) Closing

(29th May’15) Change %

Sensex 27,242.05 27,828.44 2.15%

Nifty 8,230.05 8,433.65 2.47%

FTSE 6,960.60 6,984.40 0.34%

Nikkei 19,510.85 20,563.15 5.39%

Dow Jones 17,859.27 18,010.68 0.85%

Gold ( INR/10 Grams) 26,763.00 26,843.00 0.30%

Silver (INR /1 Kg) 37,089.00 38,013.00 2.49%

USD ($) 63.72 63.75 0.05%

Euro (€) 71.36 70.03 -1.86%

GBP (£) 96.50 97.36 0.89%

Sources – Global Indices, BSE, NSE, RBI, MCX INDIA

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indcap newsletter€¦ · british telecom company vodafone has exited from bharti airtel by selling...

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