The Big Story |
Airtel offloads Bharti Infratel
shares worth Rs.1,926-Cr
Publicly listed
Bharti Airtel Limited has sold
55 million shares in its listed
telecom tower subsidiary Bharti
Infratel Limited through a secondary
share sale in the stock market
realizing INR 1,925 crore (about
$310 Million) which will be used to
pare debt. Airtel sold Infratel's
shares at INR 350 a unit, a discount
of 3.7% to last 30 day average
closing price. Post the transaction,
Bharti Airtel’s equity holding in
Bharti Infratel stands at 71.9%.
Allocation was done to global tower
company investors, fund managers and
long-only funds, including many
repeat investors. Bank of America
Merrill Lynch and UBS
were brokers to the transaction.
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Done Deals |
Private Equity Fund Investments
Creador invests Rs.135-Cr in PC
Jeweller
Business Standard
Idria, an affiliate of PE investor
Creador II LLC, has invested INR 135
crore for a minority stake in
publicly listed PC Jeweller. PC
Jeweller, incorporated in 2005, has
50 showrooms across 42 cities in 17
states. The fund infusion will back
the company's plans to open 20
showrooms every year over the next
five years. PC Jeweller also exports
hand-made designer jewellery. It
recently ventured into e-commerce
with www.wearyourshine.com to tap
the youth segment and impulse
purchases.
Clearwater converts FCCBs worth
$22-.4 M in Suzlon Energy into
equity
Clearwater Capital has acquired
5,44,632 shares (0.016%) of publicly
listed wind energy firm
Suzlon Energy and converted to
equity FCCBs worth $22.381 M
(2.562%). Clearwater now holds
14.955,368 shares (0.439%) and FCCBs
worth $50 M in Suzlon.
Matrix leads Rs.100-Cr Series B for
food ordering firm TinyOwl
Yourstory
Mumbai-based food ordering app maker
TinyOwl has raised INR 100 crore
in its Series B round from Matrix
Partners India, Sequoia Capital
India and Nexus Ventures. The
company plans to utilize the fresh
round of capital infused to expand
its footprint to over 50 cities in
the country, invest in higher
user-friendly technology and enhance
the end-user experience. The company
had earlier raised $3 million from
Sequoia Capital and Nexus Venture
Partners in December 2014.
TinyOwl has two products: TinyOwl
for food from nearby restaurants and
TinyOwl HomeMade for healthy food
from local chefs.
Piramal Fund invests Rs 66 Cr in
Ashiana Homes
Economic Times
Realty firm Ashiana Homes has raised
INR 66 crore from Indiareit Fund
Scheme V managed by Piramal Fund
Management to partly finance the
acquisition of 10 acres of licensed
land at Sohna in Gurgaon. The
company has bought the land with
development rights from local land
aggregators for about INR 100 crore
and plans to develop a residential
project on the land.
Ashiana Homes would develop 660
apartments under the project, which
is expected to be launched in
April-May 2015. The company plans to
sell flats in a price range of INR
50-70 lakhs.
CLSA invests Rs.64.6 Cr in diaper
maker Nobel Hygiene; Access part
exits with 2x
Mumbai-based
Nobel Hygiene, a manufacture of
adult and baby diapers and other
personal hygiene products, has
raised its second round of
institutional funding from
CLSA Capital Partners’ Aria IV
Funds. CLSA Capital Partners,
through ARIA Investment Partners IV
L.P. and ARIA Investment Partners IV
(Non-US) L.P. has invested INR 64.6
crore ($10 million) in Nobel as a
combination of primary investment
and secondary purchase, giving
partial exit to existing
shareholders including Access funds
and its co-investors. Access, which
had invested about INR 37 crores in
Nobel in February 2012, has fetched
a 2x return on its investment.
Online travel firm Smartairtrip
raises $10-M: report
Nextbigwhat.com
Delhi-based travel firm
Smartairtrip.com has raised $10
million from undisclosed investors
for a 10% equity stake. The company
offers exclusive deals to travel
agents with airline and hotel
content. The funds will be used to
enhance technology, strike exclusive
deals with hotels and airlines,
expand operations and marketing. The
company is in the process of filing
its prospectus for going public on
the BSE, and will list its ADRs on
the NASDAQ stock exchange in the
next financial year.
Last year, the company had turnover
of INR 36 crore. This year, the
company is expected to touch INR 200
crore. The portal claims to have
12,300 travel agents.
Bakers Circle raises Rs. 60-Cr
Economic Times
Gaja Capital, via its new $250
million fund Gaja Capital III fund,
has invested INR 60 crore round of
funding in frozen bakery and
confectionery producer and supplier
Bakers Circle. This is the third
round of fundraising by the company,
whose existing backers, GEM India
Advisors and HU Investments, also
participated in this round.
Motilal Oswal PE to infuse Rs 40
cr in Arinna Lifesciences
Business Line
Motilal Oswal Private Equity
Advisors (MOPE) is to invest INR 40
crore in Ahmedabad-based
Arinna Lifesciences. Founded by
Vivek Seth, Arinna is a pharma
company focusing on the central
nervous system therapeutic segment.
Bon Proximo acted as advisor to the
company.
Sequoia leads $4.5 M
round for interior design firm
HomeLane
Times of India
Sequoia Capital has led a
$4.5-million investment deal in
HomeLane, a technology-led home
solutions startup backed by serial
entrepreneur couple K Ganesh and
Meena Ganesh. Manipal Education and
Medical Group (MEMG) promoter Ranjan
Pai and Mohandas Pai, a former board
member of Infosys and chairman of
Manipal Global Education have also
invested as part of the round.
IDFC
to acquire 26% of Delhi airport
cargo service for Rs.28.6 Cr
BSE,
Mint
Delhi International Airport (P) Ltd
(Dial), an unit of publicly listed
GMR Infrastructure, is to sell its
entire 26% stake (1.09 crore equity
shares of face value of Rs.10 each)
in Delhi Cargo Service Centre Pvt.
Ltd, which operates cargo operations
at the airport, to IDFC Alternatives
managed India Infrastructure Fund-II
at INR 26.20 per share, aggregating
to INR 28.60 crore.
Delhi Cargo Service Center is a
joint venture between Cargo Service
Center India Pvt. Ltd and Dial, with
Cargo Service Center holding 74%
equity, with complete management and
operational control. The company
offers airport services through its
greenfield air cargo terminal -
‘Cargo Terminal 2’.
SAIF,Fulcrum invest $3-M in
property listings portal NoBroker
MediaNama
Bangalore-based peer-to-peer
property listings platform NoBroker
has raised $3 million from SAIF
Partners and Fulcrum Ventures. The
funds will be used to expand the
service beyond Bangalore and Mumbai,
where it’s currently operational.
Last year, NoBroker had raised seed
funding from angel investor and
co-founder of the Four Fountains Spa
Saurabh Garg.
Founded by Amit Kumar Agarwal and
Akhil Gupta in March 2014, NoBroker
aims to expand to 20 cities over the
next 2 years. It claims to have 5000
listed properties in Mumbai.
Tiger Global invests in
CultureAlley, MoneyView, Roposo,
Grofers
Economic Times
Tiger Global has picked up stakes in
some eight Indian startups in recent
weeks as it prepares to set up its
new office in the country in
Bangalore. The recent investees
include language learning platform
CultureAlley, expense tracking
application Money View, fashion
focused social network Roposo and
on-demand logistics startup Grofers.
The average ticket size for each
deal is $4-5 million
From the Venture Intelligence PE
Deal database: In April
2013, Kae Capital had invested INR
0.5 Cr in CultureAlley. In December
2013 India Quotient and 5 Ideas had
invested in Relevant e-solutions
which owns Roposo. In December 2014
Sequoia Capital India had invested
in Grofers.
SAIF
invests $2-M in B2B e-commerce
platform Industrybuying.com
Yourstory
Industrial ecommerce platform
Industrybuying.com has raised $2
million from SAIF Partners. The
funding will be utilised to continue
traffic growth, expand product
coverage and drive massive revenue
growth. The company also intends to
build custom e-commerce products to
bring corporate buying online.
Sequoia invests $2-M in mobile
grocery store PepperTap
Yourstory
Gurgaon-based mobile centric grocery
delivery service
PepperTap has raised $2 million
from Sequoia Capital India. With its
mobile apps, PepperTap provides
quick on demand grocery products to
customer’s door step. The funding
will be directed towards expanding
its reach across Delhi NCR, hiring
and marketing.
SME lender Aye Finance raises
$1-M from Accion, SAIF
Yourstory
Aye
Finance, an India-based lender
to micro, small, and medium
enterprises (MSMEs), has raised $1
million investment from SAIF
Partners and Accion. The Accion
investment was made through its
Venture Lab initiative.
IDG, Jungle lead Rs.7-Cr seed
round for mobile payments app maker
Momoe
Economic Times
Mobile payment startup
Momoe has raised INR 7.4 crore
($1.2 million ) from investors led
by IDG Ventures India and Jungle
Ventures, with participation from
India Quotient. The funds will be
used to expand the team as Momoe
plans to reach 500 merchant outlets
in the next few months.
Momoe is the developer of an app
that enables people to make payments
using their mobile phones when they
eat out, shop or commute. Unlike
Paytm and Mobikwik, which facilitate
cashless payments with a virtual
wallet solution that stores a fixed
amount of cash, Momoe's app works by
using credit-card details.
Indigo Airlines, S’pore fund
invest Rs.6-Cr in travel app firm
Trip38
Economic Times
Bangalore-based travel management
app
Trip38 has raised about INR 6
crores from InterGlobe Technology
Quotient, the parent of Indigo
Airlines, and Singapore based
Lantern Capital. The funds will be
invested towards improving
technology, product features and
expanding consumer base. Trip38 is a
mobile app that provides context
sensitive, location content in terms
of flight e-tickets, flight status,
airport information, sightseeing
options, restaurants, local events,
weather, etc on the traveler's
smartphone with their confirmation
vouchers and flight tickets.
Liquidity Events (Private Equity)
IFC sells
Rs.12.15 Cr worth shares of
Ramkrishna Forgings, registers 4.1x
return
BSE
IFC has sold 270,000 shares of
publicly listed auto components firm
Ramkrishna Forgings at INR 450 per
share on February 20, 2015,
aggregating INR 12.15 Cr, via a bulk
deal.
From the Venture Intelligence PE
Deal database: In May 2012,
IFC had approved an equity
investment of $4.94 million and debt
investment of $15 million in
Ramrkrishna Forgings.
Incubation / Acceleration
Pacific Incubator backs RiskEdge,
DConf
Business Standard
Nasdaq-listed technology company
Progress Software Corporation has
opened its first corporate incubator
in Hyderabad to support application
development projects for startups
using its Pacific platform. Pacific
is Progress’ platform-as-a-service
for building and managing business
apps on cloud. The first cohort will
start with two startups -- RiskEdge
and DoConf. While Risk Edge is a
provider of commodity risk
management solutions, DConf provides
an online conferencing software.
Angel Investments
USF, angels invest Rs.3-Cr in
handicrafts retailer Caravan Craft
Economic Times
Pune-based handicrafts startup
Caravan Craft has raised INR 3
crore in a funding round led by
individual investors Bijou Kurien
and Narayan Ramachandran, and
existing investor Unitus Seed Fund.
The startup will use the funds to
increase its online presence and
expand footprint in India and
Europe.Caravan has opened a retail
store each in Bengaluru and Pune,
besides duty-free outlets at the
Bengaluru and Mumbai international
airports.
Zomato, SlideShare founders back
SquadRun
Economic TImese
Amit Ranjan, a co-founder of
SlideShare (part of LinkedIn) and
Deepinder Goyal, founder of
restaurant search services provider
Zomato, have invested in
SquadRun, a mobile marketplace
for crowdsourced work. Girish Khera,
co-founder of medical animation
studio Scientific Animations and
Zishaan Hayath, founder of online
test preparation startup Toppr also
participated in the deal along with
angel investors from Powai Lake
Ventures. The target company helps
businesses crowdsource micro tasks
that require human intelligence. It
will use the funding to scale up its
ops and hire talent.
Foods ordering firm Sattviko
raises Rs 2-Cr funding
Economic Times
Healthy food ordering firm
Sattviko has raised INR 2 crore
in a seed round led by online real
estate portal CommonFloor co-founder
Sumit Jain, Xerox India managing
director Rajat Jain and Samsung
executive Sanjay Bhasin. The
Delhi-based dining chain will use
the proceeds to enter into the
non-food products segment, ramp up
its range of live and processed food
offerings, as well as further build
on its mobile and web-based
platforms.
Mohandas Pai, Balakrishnan invest
Rs.1-Cr in online tax info firm
Taxsutra
Times of India
Former Infosys CFOs and board
members TV Mohandas Pai and V
Balakrishnan have invested INR 1
crore in Pune-based online tax
information portal
Taxsutra. The target company
operates four B2B online
subscription-based portals on direct
tax, indirect tax, transfer pricing
and corporate law. The four-year-old
company would deploy the money to
launch new products and strengthen
its technology.
IAN, Kris Gopal back fruits &
vegetables retailer FreshWorld
Times of India
Infosys co-founder Kris
Gopalakrishnan and the Indian Angel
Network (IAN) have invested in
Bangalore-based fruits and
vegetables retail startup,
FreshWorld. IAN's funding was led by
angel investor Nagaraja Prakasam
with a co-investment by
Gopalakrishnan. former CEO and Vice
Chairman of Infosys. FreshWorld has
24 custom-built, battery-operated,
rickshaws that roam 12 localities in
the city and sell around 200 kilos
of fruits and vegetables per cart,
per day. The latest funding will see
FreshWorld scale its operations in
the Bangalore and will see the
induction of around 40 more
rickshaws, helping the startup reach
a larger consumer base.
Other Private Equity/Strategic
Investments
Micromax invests in analytics
firm
Economic Times
Micromax has brought a significant
minority stake in an unnamed Indian
analytics company and is close to
investing in a Silicon Valley-based
startup that operates in the online
price comparison space. The company
is scouting for more, and can invest
between $0.5 million and $20 million
in a startup that can be an
early-stage venture, a matured one
or something in between. It is
looking for a stake between 5% and
26%; the higher range will give
voting rights and board membership.
Micromax has set up a five-member
merger and acquisition team headed
by Kumar Shah. The team is
evaluating and talking to multiple
startups in India, Asia, Europe and
the Silicon Valley, in areas of
healthcare, gaming and entertainment
besides analytics and comparison
shopping.
Mitsubishi acquires 34% in noodles
maker Indo Nissin Foods for
Rs.500-Cr
Economic Times
Japanese conglomerate Mitsubishi has
picked up a 34% stake in Indo Nissin
Foods, maker of Top Ramen instant
noodles, for about INR 500 crore.
The target company’s Japanese parent
Nissin will remain the majority
shareholder with 66% stake and will
drive the business. Mitsubishi has
also picked up equity stake in
Nissin Foods Holdings' Singapore,
Thailand and Vietnam subsidiaries.
Mergers & Acquisitions
Future Group acquires residual
30% in rural retail chain Aadhaar
Publicly-listed
Future Consumer Enterprise (FCE)
has allotted 4,59,18,367 equity
shares to Godrej Agrovet Limited and
Anamudi Real Estates LLP in return
for their 30% shareholding in rural
retail chain Aadhaar Wholesale
Trading and Distribution Limited.
Consequent to the deal, Aadhaar is
now a wholly owned subsidiary of FCE.
Future Group acquires 51% in
processed foods firm Sublime
Publicly listed
Future Consumer Enterprise has
acquired a 51% stake in Sublime
Foods Private Limited, a provider of
processed food items like speciality
sauces, salad dressings, cooking
pastes, spreads and dips.
Market research firm MRSS
acquires majority stake in EMTEE
Research
prnewswire.com
Full service market research firm
MRSS India, a subsidiary of MMRSS
(Majestic Market Research Support
Services Ltd), is acquiring a
majority stake in New Delhi-based
EMTEE Research and Consultants Pvt
Ltd, a market research agency
that focuses on the trade audit
sector.
EXL
to acquire US marketing analytics
firm RPM Direct for $74-M
Nasdaq-listed BPO firm
EXL is to acquire
RPM Direct, LLC, an US-based
marketing anaytics firm focused on
the insurance industry, for $47
million in cash plus contingent cash
consideration of up to $23 million
and $4 million of restricted stock.
RPM was exclusively represented by
investment bank Petsky Prunier while
Winston & Strawn LLP provided legal
counsel. Founded in 2001, RPM's
services cover insurance verticals
including property & casualty, life
and health.
Godrej hikes stake in S.African
FMCF firm Darling to 90%
Publicly-listed
Godrej Consumer Products as
entered into an agreement with the
Darling Group for increasing its
shareholding in Darling South Africa
and Mozambique businesses to 90%.
From the Venture Intelligence M&A
Deal database: In June 2011,
Godrej had invested $111 million to
acquire a 51% stake in South Africa
based hair care products maker
Darling Group. It increased its
stake further in 2014.
Future Lifestyle hikes stake in
Mother Earth to 72.16%
Publicly-listed
Future Lifestyle Fashions has
made further investment in Indus
Tree Crafts Private Limited (ITCPL)
to increase its total stake from
63.34% to 72.16%. ITCPL is engaged
in the business of designing,
creating, exporting, domestic
retailing and distribution of a wide
range of environmentally and
socially sustainable products under
brand name "Mother Earth".
QuEST Global acquires German engg
design firm EDF
QuEST Global is to acquire Munich,
Germany-based EDF GmbH to strengthen
its automotive engineering service
offering as well as add to its
capabilities in transportation. The
deal will help QuEST gain a stronger
presence in its core target markets
of Western Europe, specifically in
Germany.
Click Here
ITC
acquires Park Hyatt Goa for Rs.
515-Cr
BSE,
Times of India
Publicly listed ITC is to acquire
Park Hyatt Goa, a five-star deluxe
property of Delhi-based Blue Coast
Hotels Group for INR 515 crore. The
hotel was put up for sale by IFCI
under the Securitisation and
Reconstruction of Financial Assets
and Enforcement of Security Interest
Act and ITC was declared the highest
bidder. Blue Coast, the owner of
Park Hyatt Goa, forayed into
hospitality in 1996 with the
acquisition of a 45-acre parcel of
land in Goa where it built its
flagship Park Hyatt Resort & Spa.
Balasore Alloys acquires Rohit Ferro
Tech’s Orrisa plant for Rs.1,025-Cr
Balasore Alloys is to acquire
fellow publicly-listed Rohit Ferro
Tech Limited’s ferro alloys plant at
Kalinganagar Industrial Complex,
Jajpur, Odisha on a slump sale basis
for INR 1,1025 Crore. Khaitan &
Co. was the legal advisor to the
seller.
Other Deals
SBI consortium takes over Kingfisher
House in Mumbai
Times of India
A 17-bank consortium led by
state-run SBI has taken possession
of Kingfisher House in Mumbai’s Vile
Parle. The property is estimated to
be worth Rs 100 crore. The banks
have taken possession of the over
17,000 sq ft property near the
domestic airport as part of their
efforts to recover the Rs 6,800
crore loan they had granted to the
long-grounded Kingfisher Airlines.
Real Estate Transactions
Omaxe sells 19.35 acre land at
Vizag for Rs 112-Cr
Economic Times
Realty firm Omaxe has sold its 19.35
acres land at Vishakhapatnam for Rs
112 crore as part of its plan to
divest non-core assets. The fund
raised would be utilised on
construction of the existing
projects. Omaxe has sold its entire
holding of 50,000 equity shares, of
Rs 10 each, at Rs 525 per share for
a total Rs 2.62 crore in
wholly-owned subsidiary Finishing
Touch Properties and Developers Ltd.
The subsidiary owned 19.35 acre of
land at Vishakhapatnam and was
proposing to develop a group housing
project in colloboration with other
fellow subsidiary.
Omaxe is also reportedly in the
process of selling about 100 acres
at Yamuna Nagar in Haryana.
Country Club sells Maharashtra land
for Rs 4.5 cr
Business Line
Hyderabad-based leisure and
hospitality chain Country Club
Hospitality has monetised a surplus
non-core asset in Maharashtra for Rs.
4.5 crore. The company is actively
looking at monetising non-core
assets to the tune of Rs. 100 crore
as a part of the overall strategy to
reduce the company debt.
Tata
Coffee buys Chennai office space in
e-auction from Andhra Bank for Rs.
65-Cr
Times of India
Tata Coffee Ltd has bought a 90,000
sq.ft commercial property in MRC
Nagar in south Chennai from Andhra
Bank through an e-auction for Rs. 65
crore. The property spread across
four floors on TVH Beliciaa Towers
was auctioned after its owner Siva
Industries and Holdings, part of NRI
businessman C Sivasankaran's Siva
Group, availed of loans from the
bank and defaulted. The transaction
values commercial real estate space
at the location at Rs. 7,222 per
sq.ft. The property earns a rental
of Rs. 65 per sq ft per month.
Andhra Bank took possession of
property after Siva Industries
defaulted payment of Rs 42.7 crore
loans.
Last month, Sivasankaran, agreed to
sell Firhaven Estate, his 1.9 lakh
sqft residence in MRC Nagar, to
unknown buyers for nearly Rs 400
crore.
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March 12
Mumbai |
Don't Miss It! |
The Venture Intelligence APEX’15 Private Equity &
Venture Capital Summit
is set to bring together over 200 entrepreneurs
and investors. The Summit will kick off with a
vigorous debate on how long lasting the euphoria in
the public and private markets will be, followed by
a Keynote by Mr. Rakesh Malhotra - who had exited
Luminous Tech for INR 1,400 Cr in '11 and has since
partnered PE/VC funds in newer ventures. The
Summit will also feature special discussions
on Family Offices & Private Equity and Early Stage
funding successes.
Speakers Include
 |
V. Anantha Nageswaran
Markets Expert
|
 |
Benaifer Malandkar
RAAY Global,
Patni Family Office |
 |
Rubi Arya
Milestone Cap |
 |
Krishna Kumar
Simplilearn |
|
Fund News |
Exfinity plans to raise $200 M
second fund
Business Line
Exfinity plans to launch an offshore
fund of $100-300 million. Exfinity
is co-founded by former Infosys CFOs
TV Mohandas Pai and V Balakrishnan,
former Wipro joint CEO Girish
Paranjpe and former iFlex Solutions
CEO Deepak Ghaisas.
Piramal Fund to invest $800 M in
construction finance
Business Line
Piramal Fund Management is planning
to enter the construction finance
space and has approved nine
construction finance proposals
totalling Rs. 1100 crore. The
initial transaction volume is spread
across Mumbai, Delhi NCR, Bangalore,
Pune and Chennai, with projects
located in micro markets with robust
demands.
IIML's Archana Hingorani joins
Alembic Pharma board
Publicly listed
Alembic Pharmaceuticals Ltd has
appointed Dr. Archana Hingorani, CEO
& ED of listed PE firm IL&FS
Investment Managers, as an
Independent Director on its board.
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Updates from the Venture Intelligence
Company Financial Search (CFS) Database
|
Quick Sample:
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Co Name. |
Sector |
Latest Fiscal Available |
Link |
Lanco
Anpara Power Limited |
Power
Projects |
FY14 |
Click Here |
Qed
Agro Systems Private Limited |
Agri
Equipment |
FY14 |
Click Here |
Honest
Restaurant Private Limited |
Restaurants |
FY14 |
Click Here |
Continental Carriers Private Limited |
Logistics Services |
FY14 |
Click Here |
Not a subscriber
to CFS ?
Just send your contact co-ordinates and
preferred time for a 10 minute
telephonic demo to
info@ventureintelligence.in |
Deals in the Making |
Private Equity/Strategic Investment
Solar power firm Rays in talks to
raise Rs.400-Cr
Economic Times
Solar power solutions provider Rays
Power Experts is in tals with
private equity firms to raise INR
400 crore. Blackstone and Gujarat
Venture Finance are among the
investors in talks to invest in the
four-year-old, Jaipur-headquartered
startup. A potential transaction
could see the investors pick up as
much as 25% ownership.
Founded in 2011 by IIT Roorkee
alumni Rahul Gupta, Rays Power sets
up solar parks and provides services
ranging from land identification to
acquisition, supplying of solar
panels and accessories, site
infrastructure and maintenance, as
well as installation and
commissioning of projects. The
company is now looking to build its
own solar plants and has
commissioned a 100-MW solar project
at Bikaner in Rajasthan. It reported
profit after tax of INR 10.7 crore
and revenue of INR 230 crore in the
financial year ended March 31, 2014.
Mobile handsets maker Micromax
shelves IPO plans; in talks with
Alibaba, Softbank
Economic Times
With its IPO plans on the
backburner, homegrown handset vendor
Micromax is exploring strategic
options including selling a
significant minority stake in the
company with a clear
milestone-linked roadmap for a
change of control in the future.
Goldman Sachs is advising
Micromax to explore these options.
Feelers have gone out to several
Asian technology and communications
companies including Chinese
ecommerce company Alibaba, and
Japanese communications giant
Softbank. The promoters of Micromax
are seeking a valuation of INR
21,000 crore which is 2.5-2.9 times
FY14 total income of INR 7,142 crore.
A transaction would give exits to
private equity investors TA
Associates, Sequoia Capital,
Sandstone Capital and Madison India
Capital. The company’s four founder
promoters -- Rahul Sharma, Rajesh
Agarwal, Sumeet Kumar and Vikas Jain
- own a little less than 80% of the
company.
DLF to sell 50% stakes in 4
projects to raise Rs 3,000-Cr
Economic Times
Listed real estate firm DLF plans to
divest around 50% stake each in four
new housing projects in Delhi-NCR
and South India to private equity
firms for over Rs 3,000 crore. The
company would utilise the funds to
improve its cash-flows that have
been affected due to slowdown in
housing demand.
Abhibus to raise $10-M
Economic Times
Hyderabad-based software and
services provider to fleet owners
Abhibus.com has appointed Kotak
Investment Banking for raising
$40 million from PE funds, starting
with a $10 million tranche. The
funds will be used to support the
company's expansion plans and
increase its brand presence across
India.
Infosys in talks to invest in
cloud-based air quality detector
firm
Business Standard
Infosys
is in talks to invest in a start-up
that develops cloud-based air
quality detectors. Recently, Infosys
has announced a $15 million
investment in a spin-off from
animation movie maker DreamWorks
Animation.
Medwell Ventures plans to raise
$10-15 mn
Mint
Hyderabad-based integrated
healthcare service provider Medwell
Ventures Pvt. Ltd is planning to
raise $10-15 million to fund the
immediate growth plans of its
Nightingales business, which offers
doorstep healthcare services on a
subscription model. The company will
raise an additional $15-25 million
after three years as it expands the
home healthcare business, and
evaluates investing opportunities.
Medwell, started by former Fortis
Healthcare Ltd chief executive
Vishal Bali and three investors,
acquired Bengaluru-based
Nightingales in April last year. The
company will invest about $25
million over the next 3-5 years in
Nightingales Home Health Services,
and in newer business opportunities.
Beauty online venture Nykaa in
talks to raise $10-M
Business Standard
Nykaa, the beauty ecommerce portal
founded by investment-banker-turned
entrepreneur Falguni Nayar, is in
talks with investors to raise Series
C funding worth $10 million to
expand offline stores as well
launching its private labels. About
10-13 % stake will be diluted in the
proposed fundraising.
Promoted by FSN E-Commerce Ventures
Pvt Ltd, Nykaa.com had raised Rs 20
crore ($3.4 million) in funding from
private investors last year. Nykaa
sells branded products across
categories of bath & body,
fragrances, hair care, makeup,
skincare and luxury products for men
and women.
The start-up was founded in 2012 by
Falguni Nayar, the former managing
director at Kotak Mahindra Capital
Company and her husband Sanjay Nayar,
chief executive officer, KKR India.
The Nayars had invested $2 million
in the company and controlled 95%
stake, while employees held the
rest. After a Series B funding, the
family's stake came down to 78%.
IPOs
Tano Capital-backed Shree Shubham
Logistics to raise Rs.210-Cr
Economic Times
Gandhinagar-based Shree Shubham
Logistics, a subsidiary of publicly
listed Kalpataru Power Transmission
Ltd, has filed for an IPO to raise
INR 210 crore. The offer will also
include an offer for sale of up to
7,007,876 equity shares by Tano
India Private Equity Fund II. Inga
Capital, Citigroup and IDFC
Securities are the book running lead
managers to the issue.
From the Venture Intelligence PE
Deal database: In April 2013,
Shree Shubham Logistics Ltd. raised
Rs.80 crore from Tano India Private
Equity Fund II. Inga Capital was the
sole advisor to the company for the
transaction. (Subscribers to the
database can login to view the
valuation, deal structuring and
other transaction details.)
IL&FS Energy planning Rs.4,000 Cr
IPO: report
Mint
IL&FS Energy Development Co. Ltd (IEDCL)
is looking to raise Rs.4,000 crore
through an initial public offering
Currently, IEDCL has around 1,000
megawatts (MW) of power generation
capacity, 3,000MW of capacity in
various phases of implementation and
around 10,000MW of capacity in the
project development phase. Its
1,200MW thermal power project in
Cuddalore, Tamil Nadu, is due for
completion in 2015.
M&A
Housing.com in talks to acquire
real estate data firm PropEquity for
Rs.80-Cr
Business Line
Housing.com is in talks to buy New
Delhi-based PE Analytics, a firm
that owns online subscription-based
real estate data and analytics
platform, PropEquity, for INR 80-85
crore. PropEquity provides data on
more than 40 cities in India. A
source said it tracks market trends
and offers data and analytics to the
real estate sector.
From the Venture Intelligence PE
Deal database: In July-08,
PropEquity had raised an investment
commitment of $10 million from
US-based hedge fund Och-Ziff.
Engg design firm Tata Tech
earmarks $250-M for acquisitions
Times of India
Pune-based
Tata Technologies is looking to
be a billion-dollar company in the
next few years and it will be
achieved through a combination of
organic and inorganic route. The
company is looking to acquire
companies worth $250 million in
three main areas: domain coverage,
customer profile acquisitions and
geographical expansion.
Mahindra in talks to acquire stake
in ABG Shipyard: report
Times of India
The Mahindra Group has initiated
talks with ABG Shipyard to acquire a
large strategic stake in the
publicly listed maker of naval ships
and vessels. Pune-based Bharat Forge
is said to be another contender.
Mahindra has also been in
discussions to acquire Pipavav
Defence & Offshore Engineering,
where it is pitched against the
Munjals of Hero MotoCorp.
Rishi Agarwal-promoted ABG, the
country's largest ship builder with
facilities in Gujarat and Goa, is in
the midst of a Rs 11,000-crore debt
restructuring plan.
Baring looking to exit BFSI software
firm Infrasoft: report
Business Line
Baring Private Equity Partners India
has initiated talks to offload its
entire stake in Mumbai-based BFSI
focused software products and
services firm Infrasoft Technologies
for INR 500 crore. The PE fund has
appointed a global investment bank
to scout for buyers.
From the Venture Intelligence PE
Deal database: In July 2007,
Baring India had invested about INR
100 crore in Infrasoft for a 53.22%
stake.
Apax
looks to exit iGate
Times of India
IT services company iGate's largest
shareholder Apax has indicated that
it would look to liquidate its stake
in the firm. The US-listed company's
founders -Sunil Wadhwani and Asholk
Trivedi -have pared their holding in
the company. iGate has filed an
`automatic shelf registration' with
the Securities and Exchange
Commission announcing Apax's desire
to have an option to liquidate its
stake in the firm. Apax owns close
to 30% of iGate. The registration
statement relates to the
registration and possible resale of
up to 23,384,095 shares of our
common stock by funds advised by
Viscaria Limited., a unit of Apax.
Apax had invested $480 million in
debt to fund iGate's $1.2 billion
acquisition of Patni in 2011. In
November 2014, iGate announced that
it had struck a deal with Apax to
convert the debt to equity and would
pay the private equity firm $80
million to effect the conversion.
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Other News |
New
Ventures
Shiv Sena leader Uddhav Thackeray launches
real estate firm
Business Standard
Aditya Thackeray, the son of Shiv Sena chief
Uddhav Thackeray, has launched Como Stocks &
Properties LLP to carry out real estate
related activities.
Uno Minda
forms JV with Japan's Kosei Aluminum
Economic Times
Auto component maker Uno Minda has inked a
joint venture pact with Japan's Kosei
Aluminum Co to manufacture and sell alloy
wheels in the country. The joint venture
firm, Minda Kosei Aluminum Wheel, will be
set up in Bawal (Haryana) with a total
investment of Rs 200 crore for first phase
of production and with an equity share of
70% with Uno Minda and 30% with Kosei
Aluminum Co Ltd. The JV company would
develop, manufacture and market aluminium
alloy wheels for major car manufacturers
People
Snapdeal's CTO Quits, may Turn
Entrepreneur
Economic Times
Snapdeal Chief Technology Officer Amitabh
Misra has quit the New Delhi based online
marketplace, and is likely to start his own
entrepreneurial venture. Misra, who joined
the company in 2011, and held the role of
Senior Vice-President Engineering,
spearheaded the company's efforts in
creating and building its information
technology infrastructure and backend
systems. Misra, who put in his papers
earlier this month, will leave at the end of
February.
Snapdeal has recently brought on board
former Yahoo India and Amazon Web Services
executive Jeyandran Venugopal.
FINO PayTech elevates Rishi Gupta to CEO
& MD
Medianama
Rishi Gupta, previously the COO and
Executive Director of FINO PayTech, has been
appointed the company's Managing Director
and CEO. Gupta had been overseeing the
business operations of the company since
December 2013. FINO has applied for payment
bank license and has ICICI Bank, Union Bank
of India, Indian Bank, Corporation Bank, LIC,
ICICI Lombard, Intel Capital, IFC, Headland
Capital Partners and the Blackstone Group as
its investors.
FINO had acquired Nokia Money in 2012 and
launched a service called Takatak Money.
Takatak Money offers money transfers,
utility bill payments, mobile & DTH
recharges.
Rabobank
India CEO steps down
Business Standard
Surojit Shome, Chief Executive Officer of
Rabobank India has stepped down last week.
Shome had taken over as the MD & CEO in
2009. He was earlier the MD and head of
investment banking at Nomura Group.
Others
PE firms
served MAT notices
Business Standard
A host of foreign private equity firms have
received income-tax notices for payment of
minimum alternate tax (MAT). MAT is levied
at 20% on capital gains made on the sale of
shares in India-listed companies. A tax
demand of Rs 1,000 crore has been made from
about 35 private equity funds that took
advantage of the Mauritius route while
selling shares in Indian companies.
RBS to shut
down its banking ops in India, retains back
office biz
Business Standard
Royal Bank of Scotland (RBS), has decided to
shut down its banking operations in the
country but will be retaining the back
office. At the end of December 2014, the net
balance sheet exposure of the bank's
operations in India fell by £1.7 billion to
£2.0 billion.
Back to top |
Deal Showcase |
The Deal: Stake acquisition by Sun
Pharma promoter Dilip Shanghvi in Suzlon Energy
Advisor: Finsec Law
Client: IndusInd Bank, manager to
the open offer.
Deal Value: The deal is
approximately valued at Rs. 18000 Million, with
an additional open offer size of approximately
Rs. 28000 Million (total of Rs. 46 billion)
Deal Date: February 2015
Deal Description: The Dilip
Shanghvi family and associates (DSA) will make
equity investments worth INR 1,800 crore in
publicly listed wind turbine manufacturer Suzlon
Energy Ltd promoted by Tulsi Tanti. Post
allotment, DSA will hold 23% in Suzlon, while
the Tanti Family will hold 24%. DSA has made an
Open Offer at INR 18 a share costing INR
2,837.59 crore. IndusInd Bank is managing the
open offer for DSA.
Advisory Role: Finsec Law Advisors
advised and acted as legal advisor to the
manager to the open offer, in the recent
acquisition of a 23% stake in Suzlon Energy Ltd
(a listed company) by billionaire, Dilip Sanghvi
and his associates .
More Info:
Click Here
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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
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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
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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 |
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About Avalon Consulting |
 |
With Rs. 86,000 crores over 6 year
old un-exited
VC/PE investments,
India had entered a “Looming
Logjam” phase in 2014. Did
the situation change during 2014?
Are these the “Acche din”? Join us
at
Apex’15 to know, as Raj
Nair, Chairman, Avalon Consulting
moderates a panel discussion on “How
Long will the Acche Din Last”.
Founded in 1989, Avalon Consulting
is an international management
consulting firm that offers services
in growth strategy, business
transformation and transaction
support to clients across a wide
range of sectors including
Agribusiness, Automotive, Chemicals,
Construction, Education,
Engineering, FMCG, Healthcare,
Pharmaceuticals and Retail. It has
offices in Mumbai, Delhi, Chennai,
Bangalore and Singapore serving
clients across India, Middle East,
South East Asia, China, Europe and
the US. Avalon Consulting is among
the Top 15 Consulting Firms Overall
in Asia (Vault List 2014).
www.consultavalon.com
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