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

Transcription

1 Indcap Advisors Pvt. Ltd. Mumbai I New Delhi I Kolkata I Ahmedabad January, 2016

2 January, 2016 CONTENTS Mergers & Acquisitions 3 Private Equity 4 M&A Deals January PE Deals January Indcap Opportunities 7-8 Indcap Performance 9 Markets/ Commodities 9 2

3 January, 2016 Mobile wallet and e-commerce firm Paytm has acquired Shifu, a context-aware personal assistant application, in its second takeover within a month, for INR 530 Mn IDFC Bank, in one of its first investments after starting operations as a private lender, has picked 9.99 per cent stake in ASA International India Microfinance (P) Ltd for INR 85 Mn Kotak Mahindra Bank has bought 10 per cent stake in Mumbai-based proxy advisory firm Institutional Investor Advisory Services (IiAS) for INR 10 Mn, valuing it at INR 100 Mn Mahindra Holidays & Resorts India Ltd., India's largest vacation ownership company, has bought Finland-based spa and leisure resort Saimaa Gardens Arena Oy through its overseas subsidiary Holiday Club Resorts Oy (HCR). Saroj Poddar-led Adventz Group firm Texmaco Rail and Engineering Ltd. has acquired a 55 per cent equity stake in Mumbai-based Bright Power Projects (India) (P) Ltd. for an undisclosed amount Quess Corp. Ltd. has acquired the 51 per cent stake it didn t already own in outsourcing solutions firm MFXchange Holdings Inc. from Fairfax Financial Holdings Ltd. Godrej & Boyce Mfg Co Ltd., part of the diversified Godrej Group, has acquired a 51 per cent stake in home decor and accessories firm India Circus Retail (P) Ltd for an undisclosed amount. *An extensive list of M&A and PE deals announced in January 2016 is provided in the subsequent pages 3

4 January, 2016 CarTrade.com, a Mumbai based online auto classifieds platform, has raised about INR 9,500 Mn in a fresh round of funding from Temasek Holdings alongwith US-based investment firm, March Capital and existing investor Warburg Pincus. Horizontal e-commerce marketplace ShopClues has entered the exclusive club of unicorns after raising fresh funds (INR 6,700 Mn) from Singapore government's GIC and its existing investors Tiger Global and Nexus Venture Partners Bengaluru based Bundl Technologies (P) Ltd, which owns and operates online food ordering startup Swiggy.com, has raised about INR 2,365 Mn in Series C round of funding from New York-based investor Harmony Partners and Singapore-based RB investments with participation from existing investors Bangalore-and US-based Big Data firm Qubole Inc. has raised INR 2,034 in Series C funding led by Institutional Venture Partners (IVP). Existing investors CRV, Lightspeed Venture Partners and Norwest Venture Partners also invested in this round Realty portal Housing.com has raised INR 1,000 Mn in fresh capital from lead investor SoftBank Corp. SnapBizz Cloudtech (P) Ltd, which provides an Android-based connectivity platform to local offline grocers, has raised INR 487 Mn from Jungle Ventures, Taurus Value Creation and other VC firms. *An extensive list of M&A and PE deals announced in January 2016 is provided in the subsequent pages 4

5 January, 2016 M&A Deals- January 2016 Shifu ASA International India Microfinance (P) Ltd. Target Buyer Industry Paytm Mobile Solutions (P) Ltd. IDFC Bank Ltd. IT/ ITes/ Technology Banking/ Financial Services Deal Value INR in Mn Stake (%) 530 N.A Institutional Investor Advisory Services India Ltd. Kotak Mahindra Bank Banking/ Financial Services Saimaa Gardens Arena Oy Holiday Club Resorts Oy Hospitality N.A 76 Bright Power Projects (India) (P) Ltd. Texmaco Rail and Engineering Ltd Engineering N.A 55 MFXchange Holdings Inc. Quess Corp Ltd. Services N.A 51 India Circus Retail (P) Ltd. Godrej & Boyce Mfg Co Ltd Retail N.A 51 Sunstone Eduversity (P) Ltd Spice Mobility Ltd Education N.A Filtra Catalysts & Chemicals Ltd. Dorf Ketal Chemicals India (P) Ltd Commodities N.A N.A Animal health brands and manufacturing operations of Zoetis Inc. at Haridwar Cadila Healthcare Ltd. Pharmaceuticals N.A N.A Baring Private Equity Asia Affiliated Managers Group Inc. Banking/ Financial Services N.A N.A Maxheap Technologies (P) Ltd. Quikr India (P) Ltd. IT/ ITes/ Technology N.A N.A Piramal Enterprises Ltd's Canadian subsidiary s cartilage repair product Smith & Nephew Plc. Healthcare N.A N.A -- BST-CarGel -- *INR to USD conversion rate considered at USD 1 = INR 67 N.A. Not Available 5

6 January, 2016 PE Deals- January 2016 Company Industry Investor Amount INR in Mn Stake (%) MXC solutions (P) Ltd (Cartrade.com) Temasek Holdings, March Capital & Warburg Pincus 9,500 N.A Clues Network (P) Ltd. (Shopclues.com) GIC, Tiger Global & Nexus Venture Partners 6,700 N.A Bundl Technologies (P) Ltd. (Swiggy.com) New York-based Harmony Partners and Singapore-based RB investments & Existing Investor Saif Partners 2,365 N.A Qubole Inc. Institutional Venture Partners (IVP),Existing investors CRV, Lightspeed Venture Partners and Norwest Venture Partners 2,034 N.A Locon Solutions (P) Ltd. (Housing.com) SoftBank Corp. 1,000 N.A SnapBizz Cloudtech Pvt Ltd Jungle Ventures, Taurus Value Creation, Konly Venture and Blume Ventures 487 N.A B9 Beverages (P) Ltd. Food & Beverages Sequoia Capital & Several Angel Investors 400 N.A BigFoot Retail Solutions (P) Ltd (KartRocket.com) Bertelsmann India Investments (BII), Nirvana Venture Advisors (P) Ltd., US-based 500 Startups and Singapore's Beenext 400 N.A August Jewellery (P) Ltd. (Melorra) Lightbox India Advisors Private Limited 334 N.A Alef Mobitech Solutions (P) Ltd. Tata Capital Innovations Funds 334 N.A *INR to USD conversion rate considered at USD 1 = INR 67 N.A. Not Available 6

7 INDCAP - OPPORTUNITIES January, 2016 Sector Location Opportunity Brief Key Highlights Renewable Energy Tamilnadu & Karnataka The company is involved in power generation through wind turbine generators Diversified Gujarat A Conglomerate having diversified business 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 Looking to sell their 300 MW coal based power plant in Maharashtra Expected Deal Size- INR 21,000 Mn Sector Location Company Brief Acquisition Criteria Chemicals Gujarat The group is engaged into manufacturing of dyes, pigments, caustic etc. Oil & Chemicals Architectural Hardware Fittings Renewable Energy Gujarat New Delhi An MNC and independent tank storage provider for the oil and chemical industry. The Company is one of India s most popular Architectural Hardware Solution provider through a wide range of standard & customized products Gujarat The Company is a diversified player based out of Gujarat 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. Looking for acquiring existing petroleum and chemicals storage and tanking business at ports 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 Mn Looking to acquire wind and solar assets in Gujarat and Rajasthan Hydro assets in Himachal Pradesh 7

8 INDCAP- OPPORTUNITIES January, 2016 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. Real Estate Gujarat They are a group of ultra HNIs running large chain of multiplexes and hospitality services in Gujarat FMCG Gujarat The company is a leading player in the Chemicals and Cement business Diversifie d Gujarat They are a group of ultra HNIs 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 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% 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 Looking to acquire export oriented API or other semi-regulated commodity business Location Western India Expected Deal Size- 1,250 1,500 Mn 8

9 MARKETS/ COMMODITIES January, 2016 INDCAP PERFORMANCE Indcap has successfully assisted a leading Infrastructure Company, based out of Kolkata, in Debt Syndication worth INR 1,124 Mn through three Leading Public Sector Banks at highly competitive rates Indcap has successfully assisted a leading Tea Company, based out of Kolkata, in Debt Syndication worth INR 250 Mn through a Leading Public Sector Bank at highly competitive rates Stock Indices Opening (4 th Jan 16) Closing (29 th Jan 16) Change % Sensex 26, , % Nifty 7, , % FTSE 6, , % Nikkei 18, , % Dow Jones 17, , % Gold ( INR/10 Grams) 25, , % Silver (INR /1 Kg) 32, , % USD ($) % Euro ( ) % GBP ( ) % Sources Global Indices, BSE, NSE, RBI, MCX INDIA 9

10 Indcap Advisors Pvt. Ltd. Offices Kolkata New Delhi Mumbai 823, DLF Tower A Jasola District Centre New Delhi Ph. No.: / 41/ 42 Chitrakoot, Suite # 68, 6thFloor, 230A, A.J.C Bose Road, Kolkata Ph. No.: Ahmedabad A-707, Infinity Tower Corporate Road, Prahladnagar, Ahmedabad Ph. No.: Suite # 603, 6 th Floor, Balarama Bandra Kurla Complex, Bandra (E) Mumbai Ph No.: 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. 10