indcap advisors pvt. ltd.indcap has successfully assisted one of its clients in iron & steel...
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Indcap Advisors Pvt. Ltd. Mumbai I New Delhi I Kolkata I Bangalore I Ahmedabad
September, 2015
2
September, 2015
CONTENTS
Mergers & Acquisitions 3
Private Equity 4
M&A Deals – September 2015 5
PE Deals – September 2015 6
Indcap Opportunities 7-8
Indcap Performance 9
Markets/ Commodities 9
September, 2015
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*An extensive list of M&A and PE deals announced in September 2015 is provided in the subsequent pages
MRG Hospitality and Infrastructure (P) Ltd., a Bangalore-based company which owns hotels and restaurants, has acquired Mumbai-based Aura Grande, a four-star hotel run by Annakoot Properties (P) Ltd., for INR 1,000 Mn
Japanese electrical major Toshiba Corporation has acquired 54 per cent controlling equity stake in UEM India (P) Ltd., which provides turnkey services in the water and waste water collection, treatment and disposal, from private equity firm India Value Fund Advisors (IVFA) and the founders of the firm
Education services company CL Educate Ltd., best known for its erstwhile test prep brand Career Launcher, has acquired 51 per cent stake in educational startup Accendere Knowledge Management Services (P) Ltd. for an undisclosed amount.
India’s largest e-commerce venture Flipkart has acquired majority stake in payment services startup FX Mart (P) Ltd., which deals in electronic payments, remittance, foreign exchange and travel related businesses, for INR 454 Mn
Delhi-based education technology firm Wincourse has acquired 85 per cent stake in Mappr, a social learning platform where students can share notes and interact with teachers, for an undisclosed amount.
In 2015, Practo grew six-fold to become one of the fastest-growing health-care platforms
in the world
Practo Technologies (P) Ltd., a web-based clinic management software developer, has acquired hospital information management solution provider Insta Health Solutions (P) Ltd. for INR 800 Mn in a cash and equity deal.
September, 2015
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Mobile advertising platform InMobi has raised about INR 6,500 Mn in fresh debt from a consortium of lenders led by US-based Tennenbaum Capital Partners.
Mumbai-based ANI Technologies (P) Ltd., which runs online cab booking service Ola (formerly Olacabs), has raised around INR 14,780 Mn in a fresh round of funding from existing investors Falcon Edge Capital, Tiger Global Management, SoftBank and others.
*An extensive list of M&A and PE deals announced in September 2015 is provided in the subsequent pages
Bangalore-based Capillary Technologies (P) Ltd., a SaaS-based CRM solutions provider, has secured around INR 3,000 Mn in a fresh round of funding led by private equity firm Warburg Pincus.
Zivame is the most funded among its
peers. For Khazanah, this marks the first tech investment in
India.
Bengaluru based NBFC Vistaar Financial Services (P) Ltd., has raised about INR 2,500 Mn in an internal round of funding led by its existing investors WestBridge Capital, Omidyar Network, Elevar Equity, Saama Capital and Lok Capital.
Lingerie e-tailer Zivame.com, run by Bangalore-based Actoserba Active Wholesale (P) Ltd., has raised INR 2,500 Mn in its Series C round of funding from Zodius Technology Fund and Malaysian sovereign wealth fund Khazanah.
This makes it one of the eight odd Indian
unicorns, a tag meant for startups sporting over $1
billion valuation.
Restaurant listings and review firm Zomato, which is expanding its business into food ordering and table reservation, has entered the coveted 'Unicorn Club' as it has raised INR 3,900 Mn in a fresh round of funding from Singapore government's investment company Temasek and existing investor Vy Capital.
September, 2015
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Target Buyer Industry Deal Value
Stake (%) INR in Mn
Aura Grande, a four-star hotel MRG Hospitality and Infrastructure (P) Ltd
Hospitality 1,000 100
Insta Health Solutions (P) Ltd. Practo Technologies (P) Ltd. Technology/ Healthcare
800 N.A
FX Mart (P) Ltd. Flipkart Technology 454 N.A
Mappr Wincourse Technology/
Education N.A 85
UEM India (P) Ltd. Toshiba Corporation Cleantech N.A 54
Accendere Knowledge Management Services (P) Ltd.
CL Educate Ltd. Education N.A 51
Intellect Bizware Nihilent Technologies IT Consulting N.A 51
Grub Services (P) Ltd. (Grab) Zomato Media (P) Ltd. Transport &
Logistics N.A N.A
Pickingo Logixpress (P) Ltd. Zomato Media (P) Ltd. Transport &
Logistics N.A N.A
Qikwell Technologies (P) Ltd. Practo Technologies (P) Ltd. Technology/ Healthcare
N.A N.A
Zippon Turant Delivery Technology/
Logistics N.A N.A
Bistro Technologies (P) Ltd. (Bistro Offers)
SoCoMo Technologies (P) Ltd. (Jugnoo.in)
Technology/ Food N.A N.A
Liberte Technology Labs (P) Ltd. (Yelo.red)
SoCoMo Technologies (P) Ltd. (Jugnoo.in)
Technology N.A N.A
Niffler Labs (P) Ltd. Coraza Technologies (P) Ltd. (Helpchat)
Technology N.A N.A
M&A Deals- September 2015
*INR to USD conversion rate considered at USD 1 = INR 65 N.A. – Not Available
September, 2015
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Company Industry Investor Amount
Stake (%) INR in Mn
ANI Technologies (P) Ltd. (Ola)
Technology Falcon Edge Capital 14,780 N.A
InMobi Technologies (P) Ltd.
Technology Tennenbaum Capital Partners & Others 6,500 N.A
Zomato Media (P) Ltd. Technology Temasek Holdings Advisors India (P) Ltd., Vy Capital
3,900 N.A
Capillary Technologies (P) Ltd.
Information Technology
Norwest Venture Partners, Warburg Pincus International, Sequoia Capital India
3,000 N.A
Vistaar Financial Services (P) Ltd.
Banking/ Financial Services
WestBridge Capital, Omidyar Network India Advisors Private Limited, Elevar Equity, Saama Capital India Advisors LLP, Lok Capital
2,500 N.A
Actoserba Active Wholesale Private Limited (Zivame)
Technology
Kalaari Capital Advisors (P) Ltd., Khazanah Nasional Berhad, IDG Ventures India Advisors Private Limited, Zodius Capital, Unilazer Ventures
2,500 N.A
Nuvo Logistics (P) Ltd. (Peppertap)
Technology Snapdeal, Sequoia India, SAIF Partners, Ru-net, JAFCO and BeeNext
2,340 N.A
Sohan Lal Commodity Management
Agri- Logistics Creation Investments Capital Management and existing PE investor Everstone Capital.
1,000 N.A
Incredible Technologies (P) Ltd.
Technology Eight Roads Ventures 1,000 N.A
Prabhat Dairy (P) Ltd. Agro/ FoodStuff TVS Capital Funds Ltd. 850 7.6
Indian Energy Exchange Trading/ Power TVS Capital Funds Ltd. 750 3.1
Loginext Solutions (P) Ltd. Technology One97 Communications Ltd. 650 N.A
PE Deals- September 2015
*INR to USD conversion rate considered at USD 1 = INR 65 N.A. – Not Available
September, 2015
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Sector Location Opportunity Brief Key Highlights
Renewable Energy
Tamilnadu &
Karnataka
The company is involved in power generation through wind turbine generators
Operating wind turbine generators located in Tamilnadu and Karnataka
Aggregate-rated generating capacity of 51 MW with an average PLF of 18-20%.
34 Turbines of 1.5 MW each Date of commissioning- 2009-10
Diversified Gujarat A Conglomerate having diversified business
Looking to sell their 300 MW coal based power plant in Maharashtra
Expected Deal Size- INR 21,000 Mn
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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.
Oil & Chemicals
Gujarat An MNC and independent tank storage provider for the oil and chemical industry.
Looking for acquiring existing petroleum and chemicals storage and tanking business at ports
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
Renewable Energy
Gujarat The Company is a diversified player based out of Gujarat
Looking to acquire wind and solar assets in Gujarat and Rajasthan
Hydro assets in Himachal Pradesh
September, 2015
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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%
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
Diversified
Gujarat They are a group of ultra HNIs
Looking to acquire export oriented API or other semi-regulated commodity business
Location – Western India Expected Deal Size- 1,250 – 1,500 Mn
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September, 2015
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Indcap has successfully assisted a leading Infrastructure Company, based out of Kolkata, in
Debt Syndication worth INR 888.80 Mn through a Leading Public Sector Bank at highly competitive rates
Indcap has successfully assisted one of its clients in Iron & Steel Industry based out of Kolkata, which is already in CDR, in getting its enhancement proposal of Working Capital of INR 4,110 Mn appraised by the MI and sanction of INR 400 mn of MI’s share in the same.
INDCAP PERFORMANCE
Stock Indices Opening
(1st Sep’15) Closing
(30th Sep’15) Change %
Sensex 26,127.04 26,154.83 0.11%
Nifty 7,907.95 7,948.90 0.52%
FTSE 6,247.90 6,061.60 -2.98%
Nikkei 18,763.72 17,388.15 -7.33%
Dow Jones 16,528.03 16,284.70 -1.47%
Gold ( INR/10 Grams) 26,706.00 25,979.00 -2.72%
Silver (INR /1 Kg) 34,606.00 34,379.00 -0.66%
USD ($) 66.39 65.51 -1.33%
Euro (€) 74.78 73.14 -2.19%
GBP (£) 101.88 99.02 -2.81%
Sources – Global Indices, BSE, NSE, RBI, MCX INDIA
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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
223, 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
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