PE l VC l M&A

May 05 May 12 2013

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

Piramal Buys 10% Stake In Shriram Transport Tata's Indian Hotels To Restructure International Operations; Plans Fund Raise Actis To Exit Vaishnavi Group DEN Networks to raise $180mn; Goldman Sachs invests $110mn CLSA Partner Buys Stake In Camson Bio Technologies Avantha Group in talks with three PE firms to raise $250 mn Blackstone Plans To Invest In Express Towers, Mantri Mall

Deal Concise Piramal Buys 10% Stake In Shriram Transport

US private equity firm TPG Capital raised about $300 million by selling its roughly 10 % stake in Shriram Transport Finance to Piramal Group, generating a near seven times return on a 2006 investment. Piramal Enterprises bought a 10 % stake in Shriram Transport through a block deal for about 16.52 billion Indian rupees at Rs.723 per share. TPG, which manages about $55 billion globally, invested a little more than $100 million in Shriram Transport's parent company, Shriram Group, in 2005. A year later it took a 20 % stake in Shriram Transport against its investment in Shriram Group, valued at Rs. 113 per share.

Announcement Date | 10 May 2013 Industry | Banking & Finance

In February, 2013, TPG sold half its stake in Shriram Transport to a clutch of institutional investors and raised about $305 million. Piramal is primarily engaged in the pharmaceutical industry and has interests in financial services and manages a property fund. Shares in Shriram Transport were up as much as 5.7 per cent, to Rs 776.50, after the deal. UBS advised Piramal on the deal..

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Deal Concise

Announcement Date | 10 May 2013 Industry | Hotel

Tata's Indian Hotels to restructure international operations; Plans Fund Raise

Tata Group's hotel arm, Indian Hotels is planning to hive off its international operations into a new company and to raise funds by selling 49% stake to FIIs. The company has sought RBI approval for the same. Indian Hotels plans to bring all its overseas hotel assets under this step-down holding company and wants to monetize the international operations to repay a part of the debt.

Minority stake in Orient Express is also part of key international assets of the company. Currently, the overseas assets are held by different holding companies and that needs to be restructured via transfer of shares within the company.As on March 2013, Indian Hotels The overseas operations include management had a consolidated debt of Rs 3800 Cr. Last contracts across the globe and five distinct asset December, Indian Hotel was working on revised purchases for which IHCL has spent around offer to acquire British hospitality group Orient Rs.3000 Cr. Its International assets include Express, which Orient turned down due to ownership of Campton Place Hotel, Taj Boston, valuation reasons. Starwood; a Management contract of The Pierre on which the company spent on renovation.

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Deal Concise Actis PE to exit Vaishnavi Group

Announcement Date | 06 May 2013 Industry | Real Estate

Emerging markets-focused Actis Private Equity might soon exit from its first and only real estate investment in India. The global PE firm had invested $25 million in early 2008 in a joint venture company floated with Vaishnavi Group to construct a residential and retail property in Bangalore. Of its total investment, $7.5 Mn was for developing Vaishnavis SPV a 1 Mn sqft mixed use project in Yeshwantpur, Bangalore and the remaining part of the investment was for other projects. years collectively handled every aspect of real estate development across Bangalore, since Actis has around $1 Bn invested in India across 1998 from sourcing legally unencumbered various sectors, including healthcare, automotive land, raising capital; to, planning, civil, and infrastructure, among others. structural, architectural design and taking it to the next level, of marketing mid-range and The Vaishnavi Group, led by C N Govindaraju, is luxury properties, till date. It has so far an alliance of companies who have over the developed around 6 Mnsqft of property.

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Deal Concise

Announcement Date | 06 May 2013 Industry | Media

DEN Networks to raise $180mn; Goldman Sachs invests $110mn

DEN Networks Ltd, a leading Indian cable distribution company, has raised a total of $180 Mn through mix of preferential placement and qualified institutional placement (QIP). As a part of the preferential placement, the company raised an equity investment of $110 Mn. from Goldman Sachs, a global investment bank. Under the QIP, it has raised over $50 Mn. from other investors. The investment will be used for funding DEN Networks growth plans. DEN Networks reaches an estimated 11 Mn households in 150+ cities across India. In January, Den Networks had increased its borrowing powers from R1000 Cr to R2000 Cr.

Last year Teachers Insurance and Annuity Association - College Retirement Equities Fund Investment LLC has acquired additional 1% stake in Den Networks Goldman Sachs has invested actively in cable and broadband related companies in several countries globally, including Cequel and Marcus Cable (US), Diamond Cable (UK), e-Access (Japan), Kabel Deutschland (Germany), C&M (Korea), Cablecom (Switzerland) and Get (Norway).

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Deal Concise CLSA Partner Buys Stake In Camson Bio Technologies

Announcement Date | 06 May 2013 Industry | Real Estate

Bio Harvest Pte a part of CLSA Capital Partners is acquiring 19.6% stake in Camson Bio Technologies for US$10 Mn. The company will issue of 41,95,513 equity shares at US$1.1 per share for a total of US$4.6 Mn and 16,74,327 convertible warrants at $3.21 per warrant for a total of US$5.37 Mn. Post the conversion of the warrants into equity the stake would aggregate upto 19.6%. Founded in 1993 Camson is an agricultural biotechnology company. Headquartered in Bangalore Camson produces biopesticides, biofertilizers and hybrid seeds.

CLSA Capital Partners is an alternate asset management arm of CLSA Asia Pacific Markets. CLSA Capital Partners has approximately USD 2.6 Bn under management and offices across Hong Kong, Singapore and Tokyo.

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Deal Concise

Announcement Date | 06 May 2013 Industry | Engineering

Avantha Group in talks with three PE firms to raise $250 million

Gautam Thapar led Avantha Group is in talks with three private equity (PE) firms to raise $250 million through a structured deal. The company has mandated Standard Chartered banks investment banking arm for the deal and approached Kohlberg Kravis Roberts and Co. (KKR), Aditya Birla Private Equity and Standard Chartered Private Equity Advisors (India) Pvt. Ltd for the capital. Avantha Power and Infrastructure Ltd had earlier raised an undisclosed amount of debt from KKR India Financial Services Pvt. Ltd The group plans to create an SPV and investors will be issued bonds that can be converted into shares of Crompton Greaves, Avantha Groups diversified electrical products company. The bonds will offer assured returns after three years.

Last week, Crompton Greaves and Indonesias PT Prima LayananNasionalEnjiniring (PLNE) have signed a joint venture agreement to manufacture and sell high voltage and extra high voltage switchgears in the Southeast Asian country. Earlier, the company had entered into an agreement with Karma Industries to acquire its CFL business for R14.5 Cr and it also acquired ZIV Group for Euro 150 Mn, US- Based QEI Inc for $30 Mn and Sweden- Based Emotron Group for $82.3 Mn. Last year, company closed down its Belgium plant.

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Deal Concise Blackstone Plans To Invest In Express Towers & Mantri Mall
Blackstone is planning to invest in two properties - the Express Towers in Mumbai and the Mantri Mall in Bangalore - both of which are valued at under R1,000 Cr each. Blackstone already has its India head office located on the fifth floor of Express Towers and a couple of months back a detailed due diligence was carried out on Mantri Mall.

Announcement Date | 06 May 2013 Industry | Real Estate

Blackstone is looking at four exits this year Blackstone has not divulged much information on from its portfolio of 25-odd investments in Mantri deal as it is working on a possible India. It is also driving the migration of structured debt transaction through its NBFC arm property investments from residential to to invest in the 1.7 Mnsqft mall, developed by commercial real estate, due to global recession Mantri Developers Private Limited which has dampening interest in the countrys once redbeen in operation for three years. hot housing market. Blackstone was also Headed by SushilMantri, Mantri Developers is the planning to buy Unitechs Gurgaon SEZ, developer of residential properties, IT parks, VrindavanTechVillage, stake in JetPrivilege, and shopping complexes, commercial buildings and it also invested in Pune SEZ. educational institutions among others.
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Jay Robotics plans to raise $8 million for expansion Srinath Devireddy of Hyderabad Angels invests in GenY Medium, joins board Waste management firm Nepra in talks to raise $10-M Indiaproperty.com Plans Series B Fund Raise Former Disney India MD - Samir Bangara Invests In Qyuki Digital

Varthana Raises Funds From Accion's Venture Lab SEBI Approves Startup Village's Angel Fund Helical IT Solutions Raises Angel Investment Bakery Chain - Ovenfresh Raises Funds From Kalaari Capital

Deal Concise Jay Robotics plans to raise $8 million for expansion

Jay Robotics, a multidimensional robotics company, plans to raise $7 million to $8 million through venture capital for its expansion. With development of eight products in education and one in industrial sector, the company is growing at more than 50 percent. Hyderabad based Jay Robotix Pvt. Ltd. was founded in 2010 by Sudhir Reddy. Its revenues during 2012-13 were Rs.70 lakh and it has set a target of Rs.1.80 crore for the current financial year business. The company is targeting 100Cr top line including 20,000 licensed copies of RoboGuru and 350 deployments of RoboRuka in coming five years. It has already deployed 25 units of RobotGuru, each priced at R 8.5 lac.
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Announcement Date | 10 May 2013 Industry | Engineering

The company designs, manufactures special purpose machines (industrial robots) and supplies advanced technology machined components. RoboGuru, will enable students to get a handson experience of giving commands and operating a live robot. The kit comes with a brain (circuit) which can be attached with building blocks to build robots. The company will soon come out with a product for domestic sector designed to clean homes called RobotMade.

Deal Concise

Announcement Date | 10 May 2013 Industry | Services

Srinath Devireddy of Hyderabad Angels invests in GenY Medium, joins board

Srinath Devireddy, a member of Hyderabad Angels, has invested an undisclosed amount in online branding and marketing firm GenY Medium Pvt Ltd. Devireddy made the investment in his personal capacity and acquired an undisclosed stake in the firm. He has also joined the companys board as part of the deal It uses proprietary analytics and online reputation management tools to give brands an edge versus their competitionThe company specializes in Search marketing; Community building and management on social platforms; Online reputation management; Social media analytics; Content creation and Mobile based branding. Devireddy also runs a tech firm

called Adroitent, Inc., which has operations in the US and India. Set up in late 2011 by Ravi Jain (co-founder and strategy advisor) and Richa Sethia (co-founder and director), Hyderabad-based GenY uses proprietary analytics and online reputation management tools to give brands an edge against competition. The firms key customers include companies such as Indiatimes Shopping, Gitanjali Shop, NIIT, Max Bupa and Cigna TTK.

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Deal Concise Waste management firm Nepra in talks to raise $10 Mn.

Announcement Date | 10 May 2013 Industry | Services

Nepra Resources Management, a dry waste management company is planning to raise $9-10 Mn investment to fund its expansion plans. In January, the company raised undisclosed amount from Aavishkaar Venture for 15% stake. The funds were used to prove the business model Founded in 2006 by Sandeeppatel, Nepra and set up a material recycling facility. Resources offers waste management services. The company handles chemical industrial waste Nepra has drawn up a two-phased expansion and recovers various metals like zinc and copper plan that will require an overall investment of from the dry waste. It also operates an online Rs 70-100 Cr. In the first phase, the company platform for generating awareness among will ramp up its existing infrastructure which individuals and businesses about waste will primarily involve growing its network of dry management. waste collection centers in Ahmedabad and five Currently, the company works with 750-odd rag more cities. pickers in the city who deposit the waste at the companys 35 collection centers. It has In the second phase, it plans to roll out a master partnerships with 60 government certified franchisee model that will enable it to reach into recyclers who pick up the sorted and processed other parts of the country. waste.
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Deal Concise Indiaproperty.com Plans Series B Fund Raise

Online real estate portal - Indiaproperty.com is planning to raise $10-12 Mn, according to BS. The company plans to use the $10-12 Mn in series-B funding to improve technology and support marketing initiatives. Existing investors would also participate in Series B fund raise. Last year, it raised $7 Mn from Canaan Partners and Mayfield Fund . The fund-raising would help the company expand and strengthen its brand in north where it accounts for 35% of the market (online property portals), while in the south and west, it was the market leader. IndiaProperty.com is an initiative of Matrimony.com Private Limited that provides indepth information on buying, selling and renting properties in India.

Announcement Date | 09 May 2013 Industry | Real Estate

The site provides a medium for independent owners, real estate agents and builders to advertise their listings on the Internet and for potential buyers to search for properties. This feature rich portal offers its users an extensive search feature that allows them to locate property by region, area, price, amenities and availability.

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Deal Concise

Announcement Date | 08 May 2013 Industry | Technology

Former Disney India MD - Samir Bangara Invests In Qyuki Digital

Qyuki has raised an undisclosed amount of angel funding from former Disney India MD (Digital) Samir Bangara, reports MediaNama. Bangara will be the new CEO of Qyuki, replacing the existing CEO PoonachaMachaiah. AR Rahman&ShekharKapur's - Qyuki Digital Media Private, a digital media startup allows cocreation of creative content. The technology will allow people to collaborate on creative projects and distribute it across devices Last year, Cisco Systems invested R27 Cr for a 17% stake in this digital media company. Samir Bangara is the former Disney India MD (Digital), which is one of Indias leading digital businesses specializing in games, audio & video

content. He is responsible for driving growth and scaling the Digital business of the company, with about 15 years of experience in the media and technology space. Before the acquisition by Disney, he was the COO of Indiagames Ltd. He has been a regular on the startup investing circuit.

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Deal Concise Varthana Raises Funds From Accion's Venture Lab

Varthana, which provides finances to low cost private school has received investment from Accions Venture Lab, PRweb states. Founded by Steve Hardgrave and Brajesh Mishra, Varthana, provides loans and support to affordable private schools in India, promoting access to and affordability of quality education for Indias poor and emerging middle class. It works with entrepreneurs who have launched schools for Indias underserved population. Varthana provides these Educational Institutions with the resources they need to keep pace with the dynamic, fast-growing education sector. Varthana provides secured and unsecured loans of R5 Lacs and above for 3-5 years of tenure. Apart from laons, the company also provides support for purchase and development of infrastructure, invest in teacher training and introduce new learning methods / tools / resources etc.
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Announcement Date | 07 May 2013 Industry | Banking & Financials

Varthana is coordinating a pilot program in India through which it is testing the effectiveness of providing low-cost laptops and training to affordable private schools in Bangalore. Launched in 2012, Accion Venture Lab is $10 million seed capital initiative, which invests in start-up companies that help expand global financial inclusion.

Deal Concise SEBI Approves Startup Village's Angel Fund

Telecom incubator, Startup Village has received SEBIs approval to raise a $10 Mn for Startup Village angel fund which could go upto $20 Mn with a 'Green Shoe' (over-allotment) option. Once the initial close of $2 Mn is received the angel fund will target telecom and internet sector. The fund plan to invest $20,000 and $250,000 USD into startups and might also co-invest with other early stage funds for higher amounts. Startup Village aims to incubate 1,000 product start ups over 10 years and start the search for a billion dollar company from a college campus by turn of this decade. KPMG is Advisor and ILFS is Trustee of the fund. Startup Village is a private partnership model technology business incubator.

Announcement Date | 07 May 2013 Industry | Telecom

The promoters of Startup Village are Department of Science and Technology, Government of India, Technopark Trivandrum and MobME Wireless. Kris Gopalakrishnan, CoFounder and Co-Chairman of Infosys is the chief mentor for Startup Village. Gopalakrishnan, MobME, Ravi Pillai, founder of RP Group and other leading angel investors in India will be part of the fund. MobME Wireless Solutions recently received approval from the NSE to raise funds through IPO.

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Deal Concise Helical IT Solutions Raises Angel Investment

Helical IT Solutions, a provider of data warehousing and business intelligence services has raised angel investment of R25 lakh from Singapore based Citibank official.

Announcement Date | 07 May 2013 Industry | Technology

The company plans to use the funds primarily for recruitment and partnering with leading Business & also can be seamlessely integrated on users Interlligence vendors in the open source space softwares or website as well. It connects different such as Jaspersoft and Pentaho. data sources and provides relevant reports, dashboard, graphs, charts etc to the key decision Founded by NikhileshTiwari and NitinSahu in makers, which will help them make the right 2011, Helical IT provides business intelligence, choices for growth of their company. data warehousing, data visualization, data It has catered to technology needs of clients in modelling and business intelligence using social various domains including e-commerce, insurance, media tools. energy, social media analytics, healthcare and Helicals data can be accessed on mobile, can be human resource while building and managing implemented on SaaS, accessed via web browser their Business Intelligence platforms.

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Deal Concise Bakery Chain - Ovenfresh Raises Funds From Kalaari Capital

Announcement Date | 07 May 2013 Industry | Retail/ Leisure

Ubiquitous Foods, which runs bakery chain Ovenfresh has raised undisclosed amount from Kalaari Capital. The investment has been made from the Kalaari Capital Partners II fund and the transaction was advised by Vichar Partners. As a part of deal, Rajesh Raju and SampathkumarPudhukottai from Kalaari Capital join the companys board. Founded in 2007 by Rajiv Subramanian, Ovenfresh is a bakery chain that serves a wide variety of products including wraps and cutlets, birthday and other cakes, burgers and sandwiches and biryanis and kebabs. Currently, the company runs six outlets in Chennai.

Kalaari Capital Partners formerly known as IndoUS Venture Partners is a venture capital fund with its advisory team based in Bangalore investing in early-stage, technology-oriented companies in India. It advises on investments in companies in the early stages of growth, with Series A and Series B funding.

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Riba Constructions Buys Stake In Gati Ship Avantor Sells Product Line Of Its Medical Diagnostic Div To WBM Health Science JSW Energy Plans Acquisition DTDC entered into JV with Nikkos Logistics Allied Blenders Acquires Wales Distilleries OCS Group Acquires Stake In CISS VLCC Plans To Acquire Three Foreign Companies MCX, Financial Technologies To Exit DGCX GoAir Plans Stake Sale; Looking For Partner

Ceebros Hotel Acquires Chennai Project Divison From Viceroy Hotel Servion Global Buys JAMS UK Wipro Buys Minority Stake In Opera Solution Metropolis Plans Acquisition In Africa Suzlon To Exit Non Core Assets HCC To Sell Non Core Asset To Repay Debt Pramati Buys WaveMaker Assets from VMware Global Edge Buys Dearborn Electronics Amcor May Acquire Murugappa Group's Packaging Biz - Tuflex

Deal Concise Riba Constructions Buys Stake In Gati Ship

Riba Constructions has acquired 40% stake in Gati Limited shipping business Gati Ship for R8 Cr, ET states. Gati plans to divest further in the shipping division and eventually hold minority stake in Gati Ships.Last year, group was in talks with German ship-management company Bernhard Schulte for the strategic stake sale. Gati Ship recently signed an MoU with International Shipping and Logistics FZE, Dubai, a wholly owned subsidiary of TM International Logistics and will be launching a joint container service operating from Gujarat to Kerala.

Announcement Date | 10 May 2013 Industry | Transport/Logistics

Currently, it has six container vessels and regular liner services between Indian ports and ports in Andaman Sea, Bay of Bengal and Malacca Straits. It also runs Colombo-Tuticorin bi-weekly service. Last year, Gati sold 30% stake in Express Distribution and Supply Chain(EDSC) and 3PL Gati Ships was set up as Gati Coast to Coast in business to Japan based Kintetsu World Express 1996 as a service provider for all sea-bound cargo Inc for R267.7Cr. The EDSC and 3PL business will in the Bay of Bengal, Andaman Islands and be transformed in 70:30 JV - 'GatiKintetsu Malacca Straits. Express' between Gati and Kintetsu. .
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Deal Concise

Announcement Date | 10 May 2013 Industry | Healthcare

Avantor Sells Product Line Of Its Medical Diagnostic Div To WBM Health Science
Avantor Performance Materials, a company engaged in the business of manufacturing and marketing of laboratory chemicals and consumables and diagnostic products has sold product line of its medical science group diagnostic business division to WBM Health Science Private Limited., for an undisclosed amount, barandbench states. Avantor Performance Materials is a manufacturer of performance materials and chemicals pharmaceutical, biopharmaceutical, laboratory, research and electronics applications. These products are widely used in biotechnology and pharmaceutical production; in the manufacturing of semiconductors, flat panel displays and photovoltaic cells; and in research, academic and quality control laboratories. Avantor is owned by an affiliate of New Mountain Capital, L.L.C. In 2011, it acquired RFCL Limited from ICICI Venture Funds Management. RFCL is a leader in laboratory reagents and consumables as well as products for the medical diagnostics market in India.

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Deal Concise JSW Energy Plans Acquisition

JSW Energy is looking for acquisition of power plants. For acquiring assets, the company is looking at power plants with a size of over 1,000 Mw. The company is already assessing projects which fits its criteria like fuel availability and sale prospects of power. However, it is looking to acquire only thermal power projects of any stage of construction and commissioning. Incorporated in 1994, JSW Energy Ltd (JSWEL) is a part of the JSW group headed by Mr. Sajjan Jindal. The JSW group has presence in the diversified business segments, such as steel, power, minerals and mining, cement, infrastructure and logistics. JSWEL is the holding company for the JSW groups power business having operational capacity of 3140 MW. In addition, JSWEL has set up and is operating 165 km transmission lines for power generated
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Announcement Date | 10 May 2013 Industry | Energy / Utilities

at Ratnagiri plant, lignite mines in Barmer, Rajasthan and has acquired 93.27% stake in coal mines under South African Coal Mining Holding Ltd. It has already received clearances for Chhattisgarh and West Bengal projects. Land has been acquired for three of the projects, including the expansion of Ratnagiri project. JSW plans to expand its operational capacity to 11,770 MW and has recently posted a 48.98 % rise in its consolidated net profit at R335.69 Cr for the quarter ended March

Deal Concise VLCC Plans To Acquire Three Foreign Companies

VLCC plans to acquire controlling stake in three beauty and wellness companies across South East Asia and Europe. VandanaaLuthra, founder and mentor of VLLC stated that the firm is close to finalizing the deal with two skin care companies in London and Singapore. The company is also looking to acquire a hair saloon chain in South East Asia. VLCC recently acquired a Malaysian slimming and personal care firm Wyann International and a Singapore-based company that manufactures dermatology products and other skin and haircare products. The company plans to enter Indian Capital Market in 2014. In November, it was in talks with PE investor to raise money in a deal which could value it at up to $400 Mn in which Blackstone, Kohlberg Kravis & Roberts and Carlyle, had shown interest.
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Announcement Date | 10 May 2013 Industry | Healthcare

Currently, VLSS's overseas business contributes 30% which is expected to grow to 45% in two years. The company is also in process of establishing a manufacturing unit in Bangladesh to cater local needs and the Myanmar market. CLSA invested around $15 Mn in VLCC in 2004 and sold its stake back to the promoters. Everstone invested R60 Cr for a 15% stake in 2007. VLCC runs a chain of fitness centers and day spas across 300 outlets in India and is present across 16 countries. It also sells a range of personal care and dermatology products

Deal Concise Allied Blenders Acquires Wales Distilleries

Allied Blenders & Distillers has acquired the Wales Distilleries based in Bengal for an undisclosed amount. The acquisition will strengthen Alleid Blenders presence in the Eastern markets. Wales Distilleries is a modern distillery with a state-ofthe-art blending and bottling plant. Its bottling plant has a capacity of 1 lakh cases per month and ABD plans to scale it up to 1.5 lakh shortly.

Announcement Date | 10 May 2013 Industry | Agro/Food & Beverage

Allied Blenders is also looking to raise R500 Cr PE investment and has appointed Ambit Holdings Pvt. Ltd as its investment banker . The funds will be used to grow its existing business, launch new brands and also create some inhouse distillation and bottling capacity. It has ABD is one of the top spirit companies in India strong national sales and distribution network with a flagship brand, Officer's Choice. Its other and a Pan-India scale manufacturing base that popular brands include Grain Vodka, Class 21, includes 38 manufacturing / bottling units in 19 Jolly Roger and WodkaGorbatschow. States with 14 sales offices across the country. The company currently bottles just 25% of its Last month, the company was in talks with liquor and outsources the rest with a plans to TilaknagarIndustries(TI) to form JV company increase inhouse production to 60% and is looking to buy more distilleries in Andhra Pradesh valued at $1 Bn and Rajasthan.
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Deal Concise

Announcement Date | 09 May 2013 Industry | Services

OCS Group Acquires Stake In Central Investigation & Security Services Ltd(CISS)
OCS Group is acquiring a minority stake in CISS for R37. With this acquisition CISS plans to enhance its presence and enable itself to provide complete service solutions to its clients in India. Last year, it acquired Mumbai based facility management services firm - Radiant Hospitality for R30-35 Cr; acquired 51% stake in Absotherm Facility Management Services for R130 Cr and acquired Cannon Hygiene India. The acquisitions are a part of OCS Systems strategy to acquire atleast 3-5 companies to expand in India. Established in 1985, CISS is focused on manpower guarding and security business. It has a national presence spread across 20 states & union territories, with 4 Regional offices, and 55+ branches, along with a strong workforce of 15,000 security Guards, Security officers & Safety Officers. It employs over 56,000 people worldwide and had reported a turnover of over 800 Mn pounds. Since 2010, OCS has continued to develop the companys capacity to provide Total Facilities Management services through the acquisition of the Legion Group, TM Facilities Services and the Fountains Group In this space, Security and Intelligence Services received R500 Cr from PE investor CX Partners.

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Deal Concise MCX, Financial Technologies To Exit DGCX

The promoters of DGCX, FT and MCX are planning to sell their 44% stake in the company, ET states. This decision might be the result of recent RBIs circular which restricts equity participation by any Indian entity in a foreign bourse that trades financial products linked to the rupee as the currency is not fully convertible.

Announcement Date | 09 May 2013 Industry | Banking & Financials

It mainly trade in three instruments i.e bullion, Other than the Indian promoters, DMCC owns a currency and metals. It commenced its trading in 51% in DGCX and has the first right of refusal for November 2005. the sale of 44% holding of the two Indian DGCX is emerging as a serious contender in companies. The FT Group had sold a 1% stake in the dollar-rupee trading to domestic bourses NSE and exchange to its partner DMCC for $12.5 Mn in 2007 the MCX-SX. which was then valued over $1 Bn. Later, it also sold In this year, the exchange changed its technology another 5% to Passport Capital solution provider from FT to Cinnober

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Deal Concise GoAir Plans Stake Sale; Looking For Partner

GoAir is planning to sell up to 49% stake and has appointed J.P. Morgan to search for a foreign strategic partner, according to ET. This deal will help GoAir to expand and reach global destinations through the partner airline's network. The company is in talks with German carrier Lufthansa and Dubai-based Emirates and Qatar Airways. GoAir is a low-fare airline with a market share of about 7%, based in Mumbai and owned completely by the Wadia Group. It operates domestic passenger services to 21 cities with over 200 daily flights and approximately 1092 weekly flights and has a current fleet of 13 aircrafts. Last year, GoAir was planning to raise $200 Mn in equity to pare debt.

Announcement Date | 09 May 2013 Industry | Airlines / Autos

After the government allowed foreign carriers to own up to 49% in Indian passenger carriers, many Indian carriers have been searching for foreign strategic partners. Jet Airways became the first Indian airline to benefit from the relaxed norms by selling nearly 24 % stake to Etihad Airways for $379 Mn and at present Qatar Airways in is talks with Indian carrier IndiGo for a codesharing agreement.

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Deal Concise

Announcement Date | 09 May 2013 Industry | Leisure/Hotel

Ceebros Hotel Acquires Chennai Project Divison From Viceroy Hotel

Ceebros has acquired the entire 'Chennai Project Division' comprising of 'Chennai Hotel Project and 'Chennai Residential Project' from Viceroy Hotel, Chennai for a total consideration of R480 Cr. The hospitality chain has been in the process of reducing its debt by roping in strategic partners for couple of its projects and divesting stake in others. Hyderabad based, Viceroy Hotels develops hotels, restaurants, and food and beverage concepts. The company owns and operates luxury hotels under the Marriott Hyderabad, J W Marriott Chennai, Renaissance Bangalore, and Renaissance Vizag names; and a business hotel under the Courtyard Hyderabad name. In April, 2012 Rakesh Jhunjhunwala has acquired additional 3.43% stake in Viceroy Hotels and in the same month Viceroy Hotels had sold its Chennai hotel project in MRC Nagar to Chennai based Mahal Hotels.
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Ceebros is a Chennai based property developer and is into real estate, hospitality(Raintree Hotels ) and wind energy generation. Imperiale and Belvedere are its upcoming residential projects in Chennai. Raintree Hotels operates two hotel properties in Chennai one on St. Mary's Road and other on Anna Salai Road. Its has installed wind turbines at Govindapuram, Udumalpet and Kanyakumari district which provide electricity to Raintree Hotels.Publishing company S Chand & Co was close to selling its Chennai hotel property, Atlantic Hotels, to Ceebros Property Development for about R180 Cr.

Deal Concise Servion Global Buys JAMS UK

Servion Global Solutions has entered into definitive acquisition agreement with JAMS UK and JAMS India, which develops software products used in contact centers. The acquisition will enable Servion to widen its footprint and network in UK and it will also give a new development center in Pune. Post acquisition JAMS becomes a fully owned subsidiary of Servion. JAMS Technologies is a software development company engaged in developing software products used in Call Centers that are integrated with Cisco IP Contact Centers Product Suite. JAMS provide services in all the aspects of Software Development Life Cycle. It specializes in developing software products used in Contact Centers and comes with ready skill-sets that are complementary to Servions skill-sets in the CIM space.
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Announcement Date | 09 May 2013 Industry | Technology

Founded in 1991, Servion is engaged in providing end-to-end Customer Interaction Management (CIM) solutions and IP based solutions in the contact centre space. With over 600 customers and 1000 installations in more than 60 countries, Servions products and solutions handle in excess of 7 Bn voice / fax / ACD / Web / e-mail interactions per year. Servion Global offers its solutions majorly to banking and telecom sectors and plans to hire around 150 people this fiscal.

Deal Concise Wipro Buys Minority Stake In Opera Solution

Wipro has signed an agreement to enter into a strategic partnership and take a minority position for $30 Mn in Opera Solutions, LLC a global big data science company. With this deal, Opera Solutions aims to capture the increasing demand for big data analytics. The strategic partnership would help Wipro to expand in big data analytic space. The acquisition will help Wipro customers to maximize the ROI of Big Data analytics implementation through faster adoption. Last month Wipro had announced that it was seeking to acquire companies. Opera Solutions, LLC is a technology and analytics company mainly focused on capturing profit growth opportunities emerging from big data. The firm uses a combination of analytics, technology, machine learning science, large-scale data

Announcement Date | 08 May 2013 Industry | Technology

management, and human expertise to build and deliver analytics solutions to large and mid-sized clients in a number of sectors, including financial services, investment firms, consumer goods, retail, manufacturing, distribution and government. Opera Solutions is backed by PE players such as Silver Lake Sumeru, Accel-KKR, JGE Capital, Tola Capital and New York based Invus and it had raised $84 Mn in September 2011 from them. this fiscal.

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Deal Concise Metropolis Plans Acquisition In Africa

Announcement Date | 07 May 2013 Industry | Healthcare

PE backed Metropolis Healthcare is planning buyouts in East and West African to expand its global footprints, BS States. The diagnostic chain is currently in talks with diagnostic centres in Nairobi, Lagos, Rwanda and Zambia with revenue of $1- $5 Mn. It is also eyeing four to five buyouts radiology and imaging services, hospital in India in 2013-14. Post buyouts, Metropolis planslaboratory management and remote pathology to do tests at its collection centres in the African testing services. markets for 70-80% samples, while the rest that need detailed studies will be sent to India. It has 55 labs spread across India, Sri Lanka, UAE, South Africa, Bangladesh and Seychelles. In 2010, Warburg Pincus invested $85 Mn in the Recently, Westbridge Capital along with TA company, which provided exit to ICICI Venture, Associates invested $44 Mn in Pathology Chain which had invested $7.5 Mn for a 25% stake in Dr Lal Pathlabs for minority stake. Metropolis in 2006 through its India Advantage Fund Series I. Metropolis Healthcare offers a range of services including laboratory medicine,

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Deal Concise Global Edge Buys Dearborn Electronics

Global Edge Software has acquired Dearborn Electronics India Private Limited, specialising in automotive and automotion control, communication and information solutions space, BS Stated. The acquisition will help Global Edge's focus on automotive electronics and industrial automotion embedded systems. Founded in 2000, Dearborn Electronics provides solutions for design, development and testing of control and network systems using our unique service delivery models, re-usable technology components and rich Automotive and Automation experience. The company caters to large OEMs and tier I suppliers providing embedded software solutions and services focusing on diagnostics, ECU software systems and control systems for the automotive and industrial automation segments.

Announcement Date | 07 May 2013 Industry | Technology

Global Edge Software is an embedded solutions and services company focused on wireless communications, Telecom and IP Networking domains. In 2005, it acquired Ionic Microsystems, another Bangalore-based technology provider for wireless LAN and broadband residential gateways.

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Deal Concise

Announcement Date | 07 May 2013 Industry | Basic Industries

Amcor May Acquire Murugappa Group's Packaging Biz - Tuflex

Australia's Amcor plans to buy Murugappa Group's Packaging business Tuflex to expand its operations. Murugappa Group wants to divest smaller noncore assets, thus leading to this deal. Established in 1985, Tuflex India has attained the leadership position in the polymer net and knitted fabric manufacturing industry. Its product line includes agro products, garden landscaping products, mosquito proofing products, packaging products and geosynthetic products. Recently, Murugappa Groups Coromandel Acquired Liberty Phosphates and Murugappa Group's E.I.D. - Parry (India) Limited purchased the entire stake of its JV partner Cargill Asia Pacific Holdings PTE.

Amcor is a multinational packaging company with operations in operating across 30 countries and 89 plants. Amcor Flexibles operates as two independent business groups across two regions Flexibles Europe and Americas and Flexibles Asia Pacific. Last year Amcor acquired Uniglobe Packaging Private Limited, a packaging firm for $20.7 Mn to expand market in India developer of TestersDesk.com.

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Deal Concise Suzlon To Exit Non Core Assets

Suzlon Energy is planning to raise up to $400 Mn by selling 15 of its non-core assets to partly retire the debt of nearly R14,600 Cr. The company, which got a lifeline from its lenders in January with R9,500 Cr debt restructuring, has planned to reduce debt and interest by selling non-core assets and cut its fixed costs by nearly 20%. The company has already initiated the process to sell stake in its wholly-owned Chinese subsidiary Suzlon Energy Tianjin, through which it will realise $60 Mn and the entire proceeds from these planned sales will go into retire debt. Suzlon is also planning to sell stake in its forging business SE Forge and selling some of their components manufacturing facilities in the country.

Announcement Date | 06 May 2013 Industry | Cleantech

The company this March raised $647 Mn in overseas bond sale, which was guaranteed by its lead banker SBI as part of its plan to retire its $650 Mnforex loans. Late January Suzlon managed a R9,500 Cr CDR out of its R14,568 Cr loans from 19 lenders led by State Bank of India. Following the CDR, 21 banks and other financial institutions would hold 32.1% stakes. Last year Suzlon Energy Limited has raised 750 Mn Euros for its wholly owned subsidiary RePower Systems SE.

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Deal Concise HCC To Sell Non Core Asset To Repay Debt

HCC aims to raise up to R1,000 Cr by selling stake in real estate and non- core infrastructure assets for paring some of its debt and reducing the strain on its balance sheet. Last year, the company got approval to restructure term loans of R3,200 Cr and the company had a debt of R4,600 Cr. The company has put on the block land parcels in Mumbai and Pune. It is also looking at selling stake in 247 Park, an office property in Mumbai's Vikhroli area, in which it holds 26% equity stake. The company hopes to sell stake in some of their existing BOT (build-operate transfer) projects this year. It is considering selling further stake in its infrastructure subsidiary, which owns infrastructure development projects totaling R7,000 Cr.

Announcement Date | 06 May 2013 Industry | Infrastructure

The group had raised R240 Cr by selling 14.5% in this arm to Singapore-based Xander Group in September 2011. Analysts said that the debt recast would provide some relief to HCC as it has lowered the interest rate but added that debt reduction, meeting equity requirement for road projects and delay in monetization of Lavasa project would continue to pose challenges

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Deal Concise Pramati Buys WaveMaker Assets from VMware

Pramati Technologies, a software engineering firm in Hyderabad has acquired certain assets of the US firm WaveMaker owned by VMware for an undisclosed amount. Terms of the transaction were not disclosed. WaveMaker is a rapid application development platform that helps developers reduce time in writing codes. Pramati is planning to use this WaveMaker offers a RAD (rapid application development) platform that can be used to develop Java applications for the cloud, using a visual interface that reduces the amount of code that needs to be written from scratch. The company has generated a developer community of more than 35,000 participants.

Announcement Date | 04 May 2013 Industry | Technology

WaveMaker simplifies the process of building enterprise Java applications to boost both developer productivity and quality, without compromising flexibility. Its applications are cloudready, highly scalable, multi-device, and backed by a strong developer community. VMware purchased WaveMaker in 2011 for simplifying the construction of enterprise Java applications and made it part of its SpringSource business unit.

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

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