Deal communique volume 3

PE l VC l M&A May 13 – May 19 2013

Weekly Insight of Private Equity, Venture Capital, Merger & Acquisition

Actis Plans To Exit TRIL Roads

ICICI Venture May Invest In Theme Park - Adlabs Imagica

Peps India Looking To Raise PE Investment

Viom Networks Looks For PE Investment

Tata Opportunities Fund Set To Invest In Tata Sky

Forum Capital May Invest In Nitesh Estates

Lafarge Plans To Sell 14% Stake to Baring PE for R 1400 Cr

IFC To Invest $17 Mn. in Parag Milk Foods

KKR Plans To Raise Funds For Its AIF

Goldman Sachs Exits From Vatika Group

DVB Bank Plans To Buy India Star's Stake In Global Offshore

Blackstone May Buy LIC's Stake In Stock Holding Corporation

Goldman Sachs Invested R 110 Cr in BPL Medical Technologies

©2013 INDEL Advisors LLP. All right reserved

Deal Concise

Actis Plans to Exit TRIL Roads Pvt. Ltd. selling the stake to TOF

Tata Opportunities Fund is set to buy Actis’s stake in TRIL Roads Pvt Ltd. TRIL Roads was a $200 Mn JV between Actis and Tata Group’s infrastructure and real estate arm Tata Realty & Infrastructure formed in 2010.

Currently Tata Group owns 65% while the remaining is owned by Actis. Expansion of Pune-Solapur Expressway, from two lane to four lane highway was their maiden project. Actis had invested $77.5 Mn in that project in 2010.TRIL Roads also has a partnership with Atlantia, one of Europe’s largest toll operator. Its believed that AActis plans to invest its infrastructure funds in power generation and distribution businesses.Last month, TOF raised $600 Mn from third party sovereign wealth funds, financial institutions,

wealthy individuals and global corporations across North America, Asia and Middle-East with a mandate to deploy a lion's share of its corpus in 'Tata Group related situations.‘

TOF’s last investment was in 2011 in Ginger Hotels, where it picked up a 10% stake and currently is waiting for government approvals to buy 5% stake in Tata Sky for R275 Cr.

Announcement Date | 17 May 2013Industry | Infrastructure


Deal Concise

ICICI Venture May Invest $50 Mn. in Theme Park - Adlabs Imagica

ICICI Venture is planning to invest $50 Mn in recently opened theme park Adlabs Imagica. ICICI Venture has offered a term sheet for a potential investment into the entertainment theme park and both the parties need to sort out a valuation mismatch to clinch a definitive deal.

Promoted by Manmohan Shetty, Adlabs Imagicais the flagship venture of Adlabs Entertainment Limited. It is a first of its kind entertainment theme park in India. Adlabs Imagica is R1600 Cr project spread across 300 acre located on the Mumbai–Pune expressway, which opened last month.It has attractions such as the land of dinosaurs in Rajasaurus River Adventure, the Haunted Fortress of Salimgarh and a motion-simulator

chase after Mogambo in Mr India – The Ride. The park has four restaurants offering global cuisine.

Shetty plans to take Imagica to other markets and has already purchased land for his next project in Hyderabad. The park employs over 2000 staff and can accommodate around 10,000 to 15000 people.

Announcement Date | 10 May 2013Industry | Retail / Leisure/ Travel/ Textile


Deal Concise

Peps India Looking To Raise PE Investment of Rs 200Cr

Bangalore based mattress maker Peps India is in advanced talk with New Silk Route, EverstoneCapital and Warburg Pincus to raise roughly R200 Cr by selling up to 70% stake. Peps India has appointed Spark Capital as advisors.

Founded by K Madhavan, Peps India is a leading inner spring and technologically advanced manufacturer, exporter of Mattresses of various kinds like foam mattresses, spring coil mattresses, memory foam mattresses.

The company has 90,000 sq ft manufacturing facility spread over 11 acres in Coimbatore has over the past two year been widening its brand reach by launching its 'Great Sleep Store', a specialized chain offering sleep products like

inner spring and metal-reinforced luxury mattresses, pillows and blankets. Currently, it has 11 distributors in Kerala and ten Great Sleep Stores across Tamil Nadu, Kerela and Karnataka. Peps India plans to add 100 Great Sleep Stores all over India, and 20-25 Great Sleep Stores in Kerala alone by the end of 2012-13.

Announcement Date | 07 May 2013Industry | Basic Industries


Deal Concise

Viom Networks Looks For PE Investment

Telecom tower company, Viom Networks is looking for PE partners to fund its expansion plans, BS states.

In 2009, Quippo Telecom Infrastructure formed a JV with Tata Teleservices merging their passive infrastructure businesses and forming ViomNetworks. Further in 2010, the company acquired the tower arm of Tata Teleservices (Maharashtra) Limited. Currently Viom has 12% market share while its major competitors, Indus Towers, BSNL/MTNL, RTIL, Bharti Infratel and GTL have 32%, 17%, 14%, 9% and 7% respectively.

At present Tata Teleservices owns 54% stake in Viom . The Tatas are expected to bring down their stake after the IPO and/or share sale to PEs.

Recently, Tata group and Norwegian telecom major Telenor were looking for possible strategic alliance that could include merger or sale of equity in Tata Teleservices.In December 2011, Tata Teleservices and SREI group were planning to sell their stake in ViomNetworks and were in talks with Sumitomo Corporation of Japan and private equity company TPG Partners. Viom Networks had received an investment of R1400 Cr from Macquarie SBI Infrastructure Fund for a stake sale of roughly 11%, in August 2010.

Announcement Date | 16 May 2013Industry | Telecom


Deal Concise

Tata Opportunities Fund Set To Invest 5% stake In Tata Sky

Tata Opportunities Fund is about to buy a 5% stake in Tata Sky for R275 Cr, TOI states.Last month, Tata Opportunities raised $600 Mn.The $1 Bn DTH company, Tata Sky is a JV between the Tata Group and Rupert Murdoch's STAR.

Currently Tata Sons owns 60% while STAR owns a 30% stake. The remaining 10% was bought by Singapore's sovereign investment fund Temasekthrough Bay Tree Investments in 2007 for R250 Cr. STAR is the television unit of News Corp, which also owns The Wall Street Journal and Dow Jones & Co. TOF will be issued new shares and the existing partners are all to get diluted. But the dilution will be more for the Tatas. TOF is mandated to invest major share of its corpus in Tata Group Companies

Tata Sky has 10.4 Mn subscribers. In January, WSJ reported that TATA Sky shall soon file an IPO to raise R2,500 Cr and has selected KotakMahindra Capital Co., Morgan Stanley and Citigroup to manage its offering. TOF is headed by former Temasek India MD Padmanabh"Paddy" Sinha..

Announcement Date | 16 May 2013Industry | Media


Deal Concise

Forum Capital May Invest In Nitesh Estates

Nitesh Estates is in talk with Hong Kong based real estate fund Forum Capital Partners to raise up to $60 Mn by selling minority stake in its SPV in Bangalore. Deloitte Touche Tohmatsu India will scout for an investor.

Last year in November, it announced its plans to raise R400 Cr PE investment through its subsidiary – Nitesh Housing Developers for its residential projects and provide exit to HDFC Asset Management which invested R80 Cr for a 11% stake in a subsidiary SPV in 2009.

The company has received investments from Citigroup in 2006 and Och Ziff in 2007, thus becoming one of the first few Indian companies to attract FDI in real estate.

Founded in 2004 by Nitesh Shetty, Bangalore-based Nitesh Estates is engaged in the development of residential real estate & commercial projects. It has brought more than 18 Mn sq ft of space under development as premium living, working, lifestyle and leisure space.In 2011, , HDFC Property Ventures Limited sold its 50% stake in JV project - Nitesh IndiranagarMall to JV partner Nitesh Estates Limited. In November 2011, JP Morgan Global Fund invested $40Mn for a 45% stake in a NiteshEstate SPV which was executing three projects in Bangalore and Chennai.

Announcement Date | 16 May 2013Industry | Real Estate


Deal Concise

Lafarge Plans To Sell 14% Stake to Baring PE for R 1400 Cr

Lafarge plans to sell 14% stake in Lafarge India for R1400 Cr to Baring Private Equity, BS states.This investment shall fund Lafarge's growth plans in India in all its product lines including cement, aggregates and concrete.

In February, Lafarge India was planning to raise R500 Cr through the local bond market.In March, three PE entities, Singapore government-owned Temasek Holdings, Carlyle and Standard Chartered PE were in final stages of talks to invest $250-300 Mn in the company. Prior to them KKR, TPG Capital and Blackstone were also interested to invest in the company.

The French cement maker entered into India back in 1999 and since then has gained a commanding share in the ready-mix concrete business.

It currently operates four plants with a capacity of making around 8 MTPA with the cement facilities located at Sonadih, Jojobera, Mejia, and Arasmeta. The company's cement manufacturing capacity has increased from 6.5 MT in FY 10 to 8 MT currently.



Deal Concise

IFC To Invest $17 Mn. in Parag Milk Foods

IFC is proposing to invest $17 Mn in Parag Milk Foods to fund its expansion plans. The company plans to strengthen its current operations through plant automation and expanding its procurement and distribution networks. It also plans to shift to value added product which offer better margins, especially Whey, Cheese and UHT milk.

The total project cost is estimated at $32.7 Mn, of which $13.9 Mn has already been funded through an equity investment by IDFC in September 2012.Currently, the promoters - Devendra Shah, PritamShah and Parag Shah hold 58% stake in the company, while IDFC and Motilal Oswal own 21% and 12% respectively.

Parag Milk currently has milk processing plants at two locations – Manchar in Maharashtra and Palamner in Andhra Pradesh.The company's expansion plans are to come up with its own range of milkshakes and setting up of another plant in Andhra Pradesh costing around R110 Cr. Parag Milk had shelved its plan to raise funds through IPO in 2011 due to subdued stock market conditions and announced plans to rope in a private investor in February last year.

Announcement Date | 15 May 2013Industry | Agro/Food & Beverage


Deal Concise

KKR Plans To Raise R2000 Cr Funds For Its Alternative Investment Fund

KKR is planning to raise R2,000 Cr from HNI’s and institutions for its alternate investment fund.KKR's Alternative Credit Opportunities Fund -1 which will invest in mezzanine and structured credit instruments to fund promoters had been recently registered with the Sebi. Till now, KKR's non-banking financial services arm - KKR India Financial Services has been offering debt financing to Indian corporate.

So far, KKR has made PE investments worth $1 Bnin India which include Bharti Infratel Ltd., Coffee day resorts, Dalmia Cements, Magma Fincorp and TVS Logistics Services. KKR lends money to companies with capital structure issues as solutions provider.

Few days back, fair trade regulator CCI approved KKR investment in Netherlands-based Alliance Tire Group BV.In August 2012, KKR was planning to launch an India specific debt fund for which it was planning to raise $750 Mn to $1 Bn.

Announcement Date | 15 May 2013Industry | Banking & Financials


Deal Concise

Goldman Sachs Exits From Vatika Group

Goldman Sachs has exited its investment in VatikaGroup, a Delhi-based realty firm by selling its stake to the promoters of the group wherein the exit will be in two parts - a part in cash and another as stake in a project of Vatika.

In 2007, Vatika Group had divested 10.75% for raising $250 Mn as PE investments from Wachovia Bank, Baer Capital and Goldman Sachs and were to get an exit through an IPO by the end of 2010.Promoted by Anil Bhalla, Vatika Group is engaged in real estate development and operates primarily through Vatika Limited and VatikaHotels Private Limited. Vatika has housing projects in Gurgaon, Delhi and Jaipur and also develops commercial office and retail spaces in Gurgaon.

The company also has a hospitality vertical, which has hotels like The Westin in Gurgaon, Jaipur and Pondicherry and is developing a Four Points by Sheraton in Gurgaon.Goldman Sachs was also planning to exit its investment in upcoming 230 rooms Four Seasons Hotels in Bangalore; Xander group and NiteshEstates were in talks to acquire its stake. Goldman holds around 73% stake through Whitehall, its real estate unit, in the project. Other development partners are Westcourt and Century Real Estate holding the remaining 27%.

Announcement Date | 14 May 2013Industry | Retail Industries


Deal Concise

DVB Bank Plans To Buy India Star's Stake In Global Offshore

Germany's DVB Bank is in advanced talks with Mauritius-based PE fund India Star to buy its a 29% stake in Global offshore for around R100 Cr.

Last year, DVB Bank bought a 31% stake in Global Offshore's Dutch subsidiary. As per the SEBI guidelines, the bank will have to purchase the stake at a premium through an open offer. The acquisition would cost R180 and R200 a share to the bank.Global Offshore, provides offshore support for oil and exploration companies. In 2006, India Star fund, part of US-based global investment firm Sycamore Ventures, had purchased 12.6% stake in Global Offshore for R110 a share and later increased its stake to over 15% by converting the R25 Cr fully convertible debentures to equity shares.

The fund later made an open offer at R230 a share, taking its total holding in Global Offshore to 29%. Since last year Global Offshore’sNetherland subsidiary, Global Offshore Services B.V. has acquired 3 vessels, one Platform Supply Vessel and two Handling Tug cum Supply Vessel.DVB Bank is part of the DZ Bank Group and a specialist in commercial transportation finance, based in Frankfurt, Germany.



Deal Concise

Blackstone May Buy LIC's 14% Stake In Stock Holding Corporation of India

Blackstone is planning to acquire LIC’s 14% stake in Stock Holding Corporation of India, ET states.

LIC is planning to sell the stake through bidding process. If the valuation amount is more than the price offered by Blackstone, it will set it as the reserve price and ask for bids from all interested parties.SHCI - incorporated in 1986 - provides custodial and deopsitory services. It is also into distribution of life and non-life insurance policies and mutual funds.

IDBI which holds 19.9% stake in SHCIL, had proposed that it will take over the company

and convert the 227 offices of SHCIL into bank branches. Its interest lies in cross-selling opportunities to the 7 lakh SHCIL customers and converting the custodian’s offices into bank branches with the RBI approval, states livemintBesides IDBI, the other shareholders are IFCI (33%), GIC (14%) and SU-UTI (17%)

Announcement Date | 13 May 2013Industry | Banking & Financials


Deal Concise

Goldman Sachs Invested R 110 Cr in BPL Medical Technologies

Goldman Sachs has made R110 Cr equity investment in BPL Medical Technologies to further expand the company’s medical device business, BSE filing stated.

As apart of deal, Ankur Sahu and Harsh Nanda, an Executive Director at Goldman Sachs, will join the Board of BPL Medical. ICICI Securities was the sell side advisor to the deal.

BPL Medical Technologies is a group company of BPL Limited. BPL Ltd was founded by T P G Nambiar in 1963 to manufacture precision electrical instrumentation.

BPL Medical's products include Electrocardiographs, Patient Monitors, Defibrillators, Central Nursing Stations,

Stress Test Systems, Oxygenerators, Ultrasound Scanners, Colposcopes, Foetal Monitors, FoetalDopplers and X-Rays.

Earlier this month, BPL Ltd approved transfer of the Healthcare Business of the Company as a going concern to BPL Medical Technologies for a consideration of equity shares of BPL Medical worth R21.05 Cr.

Announcement Date | 13 May 2013Industry | Healthcare

Heckyl Technologies Plans Series A Investment

Mayfield India Adds Beer Cafe To Its Portfolio

Rainmaker Receives Seed Investment

Ravi Gururaj Launches Startup Incubator-Frictionless Ventures

Seedfund Backed LurnQ To Raise Series A Investment500 Startups Invests In Pricebaba

Online Jewellery Portal CaratLane.com Receives Series C Investment


Deal Concise

Heckyl Technologies Plans Series A Investment

Seedfund backed Heckyl Technologies is planning to raise Series A investment in next few month, startupcentral states.

Founded by ex- Merill Lynch employees - SomSagar, Jaison Mathews, Abhijit Vedak and MukundM, Hekyl is an online application developed for the financial world to provide real time financial information, news analytics, trend matrix and heat maps to get coverage of markets, companies and businesses.

The company has so far signed up 16 brokerage houses for its real time financial information and analytics platform.

Heckyl Technologies claims to cover currency, commodities, over 25,000 publicly listed companies, a few hundred private companies and startups, and private equity funds, hedge funds, fund managers and venture capital firms.

Last month, Rajan Anandan along with BlumeVentures and others has made seed investment of R1.5Cr in Data aggregation and analytics company, Dataweave.

Announcement Date | 17 May 2013Industry | Banking/Financial Services


Deal Concise

Mayfield India Adds Beer Cafe To Its Portfolio

Beer Cafe, a QSR chain managed by BTB Marketing Pvt. Ltd. has raised funding from Mayfield India Fund, ventureintelligence states.With this investment Vikram Godse of Mayfield has joined the board of BTB Marketing.

The five-year-old Beer Cafe currently operates four outlets in and around Delhi/NCR.In January, Mayfield had started raising its second India dedicated fund.

Last year in October, Bangalore based incubator AngelPrime secured investment from American firm Mayfield Fund. Mayfield India has invested in over 20 Indian companies in the past, of which 7 have had IPOs and another 5 have been acquired.

Mayfield’s current portfolio includes Bharat Matrimony, Centum Learning, Gensis Colours, Geodesic Techniques, dealsandyou, Fourcee, Tejas networks, and Sohan Lal Commodity Management.



Deal Concise

Rainmaker Receives Seed Investment

Rainmaker, a learning, content and test management company focused on India's legal ecosystem has raised seed funding of $3 Mnacross three rounds from a mix of family, friends and angel investors, Et states.

The investors include - Sajan Poovayya, the additional advocate-general for Karnataka and managing partner of law firm Poovayya and Co and Bahram Vakil, one of the cofounders of corporate law firm AZB & Partners. Founded in 2007 by Nikhil Chandra, Rainmaker creates specilaised content for specific courses, such as securities, merger & acquisition, as well as trade law that are delivered as short- duration courses for university students. It provides high end content about the legal profession through interviews, videos, opinions, and journalistic articles about the law.

It has formed JV – Vahura that offers legal recruitment services and owns 50% in it.

This January, Rainmaker tied up with the NalsarUniversity of Law in Hyderabad to offer short certificate programmes for students, across a gamut of subjects, including courses on various aspects of China's legal framework.The company provides online learning through www.myLaw.net

Announcement Date | 17 May 2013Industry | Learning


Deal Concise

Ravi Gururaj Launches Startup Incubator- Frictionless Ventures

Former V.P of Cloud Platforms at Citrix Systems, Ravi Gururaj launches an incubation centre for cloud computing ventures - Frictionless Ventures, ET reports.Frictionless Ventures will serve as platform through which he could freely innovate, ideate, incubate, and invest in disruptive new technology ideas.

His last startup venture, VMLogix was acquired by Citrix in 2010.With the new venture he aims to come up with ideas, invest seed money and nurture a team of entrepreneurs who can turn the idea into a viable business.Gururaj has also been recently appointed as the chairman of IT industry body Nasscom's product council.

Frictionless Ventures will invest between $50,000-$250,000 in ideas focused on sectors like cloud computing, mobility and big data.It has already shortlisted mobile contacts management app SyncUsUp based. SyncUsUpwas recently selected as a finalist at the Harvard Business School - New Venture Contest- held last month in Boston.

Announcement Date | 16 May 2013Industry | Technology


Deal Concise

Seedfund Backed LurnQ To Raise Series A Investment

Technium Labs, which runs LurnQ – an online learning and teaching platform is planning to raise $5 Mn Series A investment, startupcentral states.

The company plans to raise Series A funding in next 3-6 month in which existing investors would also participate. Last year, Seedfund invested undisclosed amount in the company just prior to the public launch of the LurnQ platform. LurnQ was founded in 2011 by Tarun Mitra, Rajshekhar Ratrey, Ramesh Nidadavolu and Devvrat Arya. LurnQ, a product of TechninumLabs, is a free software that allows anyone to learn and teach.

It connects learners with relevant learning content, expert teachers and a social community in a unified manner.

With 400 sources of educational resources LurnQhas managed to build a huge resource base of over 1,000 lessons. It provides information from the basics of electronics, management courses, from Java to creative writing, and from social entrepreneurship to understanding the workings of the Indian Railways.

The enterprise version of the platform is currently on trial with 30 institutional users, while the Android app for the platform is also on the way.



Deal Concise

500 Startups Invests In Pricebaba

500 Startups has invested undisclosed amount of seed funding investment in Shopping intelligence engine – PriceBaba. Existing angel investors -Karamveer Singh and Dinesh Tejwani also invested in the seed round.

Following the 500 Startups investment, PriceBabajoins the firm’s business accelerator in Mountain Earlier in January, it raised undisclosed angel investment from a group of five investors -Karamveer Singh, Dinesh Tejwani of Fast Fact Computer Systems (acquired by Thomson Reuters), Aditya Mishra (Founder & CEO, SwitchMe.in), Ashutosh Rathi (Basil Partners) and Ranjeet Walunj of The Service Solutions.Launched in 2012 by Annkur Agarwal and TirtheshGanatra, PriceBaba.com is a location based search engine, helping the real world shoppers to search prices in their vicinity.

The site enables consumers to discover the best prices for buying, selling and exchanging mobile phones.

The service is currently available in 6 cities including Mumbai, Thane, Navi Mumbai, Pune, Gurgaon, Noida, and Delhi and it currently lists over 400 offline retail stores in these cities. Last October, 500 Startups announced investment in TradeBriefs, an email newsletter service for industry professionals.



Deal Concise

Online Jewellery Portal CaratLane.com Receives Series C Investment

Caratlane Trading, which runs online diamond and jewellery portal - Caratlane.com has received $15 Mn in Series C funding, Nextbigwhat states.In 2011, Caratlane raised $6 Mn from Tiger Global which was followed by another $6 Mn from the same investor in 2012.

Caratlane was founded in 2008 by SrinivasaGopalan and Mithun Sacheti. It offer more than 1,40,000 loose diamonds, and over 1000 ready-to-choose diamond jewellery online like diamond rings, pendants, earrings, bracelets, bangles and gold coins for all budgets.

Last year, the company opened its first offline store - 'Solitaire Experience Lounge', in New Delhi. The move was in complete contrast to the model

that was generally in place, with offline retailers such as Tanishq opening up their online store on the back of a large physical presence.

The company plans to launch six more Solitaire Experience Lounges across the country. It ships over 1600 orders per month saves on inventory and store overheads and passes on that benefit to the consumers in the form of a 25% discount.


Vikram Pandit To Invest In JM Financial

Aditi Technologies Buys Cloud Computing Firm - Get Cloud Ready

Manipal Hospitals Invests In Ankur Healthcare

Cloud Computing Firm 8k Miles Acquires FuGen Solutions

Eveready To Hive Off Its Tea Processing Business

Uno Minda Plans Acquisitions In Europe

Aditya Birla Group Plans To Sells It's Stake In Tanfac

MPS Acquires Element LLC

StanChart May Acquire Morgan Stanley's Indian Wealth Management Unit

DLF Sells Hyderabad Property To Suvarnabhoomi Developers


Deal Concise

Vikram Pandit To Invest In JM Financial

Former Chief Executive of Citigroup, VikramPandit plans to acquire 50% stake in JM Financial NBFC, states ET.Pandit will be nominated as the non-executive chairman of its upcoming NBFC. JM Financial plans to apply for upcoming issue of banking licenses.

Pandit with his business partner Hari Aiyar is also going to buy 3% stake in JM Financial.Pandit, Hari Aiyar and Aparna Murthy Aiyarwould together buy 2.32 Cr warrants at a price of R19.50 per piece, aggregating to R45 Cr. JM Financial will issue over 1.16 Cr warrants worth about R22.6 Cr to Pandit alone.Pandit managed Global Fund will also invest up to $200 Mn in the JM Group's various businesses.JM Financial will nominate Pandit as the non-executive chairman of its proposed banking

venture in which he and Hari Aiyar would have the right to purchase shares up to the amount prescribed by RBI.

At the same time JM plans to invest in $100 Mn in Global Funds and Pandit plans to set up a $100 Mn distressed asset fund along with JM.Before joining Citigroup in 2007,Pandit was President and COO, Investment Banking, Morgan Stanley.

Announcement Date | 17 May 2013Industry | Banking/Financial Services


Deal Concise

Aditi Technologies Buys Cloud Computing Firm - Get Cloud Ready

Software products developer - Aditi Technologies has acquired Hyderabad-based cloud operations consulting firm ‘Get Cloud Ready’ for an undisclosed amount, ET States.

Get Cloud Ready employees will join Aditi post acquisition. Terms of the deal were not disclosed. Founded by Janakiram MSV, Get Cloud Ready provides framework which helps customers de-risk Cloud Adoption and Manage Cloud Operations across Platforms..

This is Aditi's second major cloud consulting acquisition since Seattle based cloud computing startup Cumulux in 2011.

Cumulux was founded in 2008 by former Microsoft employees Paddy Srinivasan and Ranjith Ramakrishnan.

Aditi Technologies is a Bangalore- based solutions and product R&D partner for software businesses and financial services enterprises. It offers high end consulting, technology and application development services to enterprise clients on the Microsoft platform.



Deal Concise

Manipal Hospitals Invests In Ankur Healthcare

Manipal Hospitals has invested R40 Ct for 51% stake in growth capital in Ankur Healthcare, a speciality Centre, focused in delivering comprehensive services in the areas of Reproductive Medicine -IVF, Andrology and Men’s Health, IIFL stated.

As part of deal, Ankur Healthcare will be renamed Manipal Ankur Andrology and Reproductive Services, and will be led by VasanS.S., the founder of Ankur Healthcare.

Established a decade ago, Ankur Healthcare specializes in in-vitro fertilization and andrology -men's health issues which are specific to the male reproductive system. Manipal AnkurAndrology plans to expand the existing 4 centers to 12 over the next 18-24 months, with new

centers located in existing hospitals of ManipalHealth Enterprises, standalone centres in cities like Chennai, Pune, Hyderabad, Indore, Chandigarh etc. as well as setting up such facilities within other hospitals.

Manipal Hospitals is part of the ManipalEducation and Medical Group. It has over 5000 beds across 15 hospitals. Manipal Hospitals owns 11 hospitals while the rest are on management contract.

Announcement Date | 16 May 2013Industry | Healthcare


Deal Concise

Cloud Computing Firm 8k Miles Acquires FuGen Solutions

8KMiles Software Services, a leading global cloud computing company has acquired FuGenSolutions for $7.5 Mn, BSE states.

As a part of deal, FuGen Solutions Founder and CEO, Lena Kannappan, will join 8KMiles as COO and serve on its BOD. With this purchase it has acquired FuGen Solutions’ market leading patented Cloud Identity Broker and Multi-domain Identity Services Platform(MISP), an on-demand partner onboarding platform that extends the capabilities of existing Identity Management (IDM), SSO solutions and legacy services to allow enterprise customers and their partners to establish, scale and manage their federated access, certification and SSO, and web services via the cloud.8KMiles is a global cloud computing company based in the U.S. The 8KMiles platform offers

cloud and big data security services.FuGen Solutions helps companies with the issue of Managing Identity Interoperability and Compliance Verification Services. FuGen, will become a subsidiary of 8KMiles and shall bring in trusted partners such as CA Technologies and customers in industry verticals such as e-commerce, energy, financial services, government and insurance. FuGen’s intellectual property would strengthen 8KMiles’ Amazon Secure Virtual Private Cloud offering.



Deal Concise

Eveready To Hive Off Its Tea Processing Business

Eveready Industries India Ltd. plans to exit tea processing business, BL states.The company plans to outsource its tea processing activity to reduce fixed cost while the sale of assets would help reduce company's R250 Cr debt.

The plot of land on which the unit stands is a lease-hold, and the unit would be sold as a going concern.Eveready, the group company of the large bulk tea producer , McLeod Russel India Limited has brands like Eveready Premium Gold, Eveready TezPremium, Eveready Tez Red and Eveready Jaagoin its portfolio.Earlier this month Phu Ben Tea Company Ltd, a 100% step-down subsidiary of the Mcleod Russelin Vietnam had signed an agreement for purchase of a Tea Processing Factory in Vietnam.

The Tea packaging vertical and dry cell batteries contribute 7% and 60% of total turnover while it receives remaining revenues from its other verticals like flash lights, lighting solution, alternate lighting solution, portable mobile chargers, power cell and exports.EIIL is also considering to sell some of its real estate in Kolkata, Hyderabad, Lucknow and Noida to retire its debt.The company does not plan to make a distress sale and would rather wait for the right price for either selling these plots directly or developing them through a joint venture.

Announcement Date | 14 May 2013Industry | Agro/Food & Beverage


Deal Concise

Uno Minda Plans Acquisitions In Europe

Uno Minda is looking to acquire companies in Europe and it is currently is talk with some European manufacturers of automobile components, ET states.

The company plans to spend R250-300 Cr for Europe acquisition and it is looking at the companies present in the same operations as Uno Minda.

Last month, Minda Industries acquired ClartonHorn S.A.U., Spain from PMAn Domestic AG, Germany for Euro 6.8 Mn. UNO Minda, NK Minda Group, is a supplier of proprietary automotive solutions to OEMs as Tier-1.

The Group is a global player in automotive sector with manufacturing facilities in Indonesia and Vietnam and Offices in Japan, Europe and China.It has 27 manufacturing plants in India and has JVs/Technical Agreements with world renowned manufactures in Italy, India and Japan.

Announcement Date | 14 May 2013Industry | Airlines / Autos


Deal Concise

Aditya Birla Group Plans To Sells It's Stake In Tanfac

The Aditya Birla group is planning to sell its 25% stake in Tanfac Industries, a flourine chemical JV with the Tamil Nadu Industrial Development Corporation, TOI states.

The company is in talks with Arvind Mafatlal-owned Navin Flourine International and Inoxgroup-promoted Gujarat Fluorochemicals to sell its stake in the JV.

The JV was incorporated in 1972, is among the largest suppliers of fluorine chemicals with the facility spread over 60 acres in the chemical complex of SIPCOT at Cuddalore,180km south of Chennai. Tanfac manufactures aluminium

fluoride, anhydrous hydrogen fluoride, Sodium Silico Fluoride, ammonium Bifluoride and other speciality fluorides.TIDCO owns 26% in Tanfac and has made a equity investment in the company of R260 Lacs. AdityaBirla owns 25% stake in JV through TGS Investment & Trade Pvt Ltd( 19.96%) and PilaniInvestment & Industries Corporation Ltd(5%).



Deal Concise

MPS Acquires Element LLC

MPS Limited has acquired Element, LLC- in USA for total consideration of R10 Cr. The proposed acquisition will enhance MPS presence in US education publishing market.Element, LLC provides full-service editorial, design and production services to the educational publishing market with expertise in developing turnkey solutions for print and online products. It is engaged in developing content and products for learners of all ages in a broad range of curriculum and subjects, with specialization in pre-K and K-12 markets.

MPS Limited was set up in Jan 1970 as outsourcing unit of Macmillan. It is in the business of publishing business process

outsourcing services which comprises of project management services, copy-editing services, proofreading services, composition/type-setting services and graphics design services. MPS Limited offers a diverse geographic spread with production facilities in Dehradun, Noida, New Delhi, Gurgaon, Bengaluru, and Chennai and an editorial and marketing office in Portland, Oregon, United States of America.



Deal Concise

StanChart May Acquire Morgan Stanley's Indian Wealth Management Unit

Standard Chartered Plc is in final talks to buy Morgan Stanley’s Indian wealth management unit which has about $800 Mn of assets under management, Mint states.

Standard Chartered will initially pay $8 Mn for the unit, which would later be followed up with an undisclosed sum.

Morgan Stanley is selling the business as part of a review of its operations.The unit accounts for less than 5% of Morgan Stanley’s India revenue. The bank has more than 400 employees in India.

In January, L&T Finance, the financial arm of the engineering major L&T Ltd., was likely to buyout the Indian wealth management business of Morgan Stanley.

Announcement Date | 13 May 2013Industry | Banking & Finance


Deal Concise

DLF Sells Hyderabad Property To Suvarnabhoomi Developers

As part of its strategy to exit from the non-core assets and reduce debt, DLF has sold 32 acre of land in Hyderabad for about R650 Cr to Suvarnabhoomi Developers, ET states.From 2010 till last December, DLF has raised about R8,000 Cr by divesting its non-core assets such as hotel plots, IT parks and SEZs.

The realty firm is targeting to bring down the net debt from R21,350 Cr to Rs 10,000-11,000 Cr in the next three years with the help of proceeds from the issue of shares and sale of non-core assets.DLF also plans to raise R1888 Cr by selling 8.1 Cr shares in its IPP issue. With this promoter's stake would come down to 75% from the current level of 78.58%, as required by SEBI’s shareholding norms.

The floor price of the issue has been fixed at R222 per equity share with a price band of R222-233 per share.As per the IPP prospectus filed with SEBI, the company has developed 105 realty projects comprising 262.4 Mn sq ft till last year.The company is currently working on 34 projects with 46.1 Mn sq ft of saleable area and 5.8 Mn sq ft of leasable area and plans to launch 7 projects with 11 Mn sq ft of saleable area and 0.2 Mn sq ft of leasable area.

Announcement Date | 13 May 2013Industry | Real Estate

This document captures the list of deals announced based on information available in the public domain and public announcements and istherefore intended for general guidance only. It is not intended to be a substitute for detailed research or the exercise of professionaljudgment. Neither INDEL Advisors LLP nor any other member of the INDEL global can accept any responsibility for loss occasioned to anyperson acting or refraining from action as a result of any material in this report. On any specific matter reference should be made to theappropriate advisor.

For more details on this please contact:Shagun MadanE: [email protected] on to: www.indelglobal.com

INDEL Advisors LLPTAX|LEGAL|TRANSACTION ADVISORY

INDEL Advisors LLP is a global business advisory and consulting firm led by experienced banking andoperating professionals dedicated to serve middle-market companies. With the unique depth of thoughtcombined with the global expertise of leading professionals, INDEL is committed to protect and enhancethe enterprise value of its clients. Founded in 2009, the firm is headquartered in New Delhi and has officeslocated in major financial centers.

Deal communique volume 3

Documents

Transcript of Deal communique volume 3