Kotak Investment Banking

1. General Information
Kotak Investment Banking is a subsidiary of Kotak Mahindra Bank Limited, one of India’s leading banking
and financial services organizations with a consolidated net worth of Rs 71.29 billion (approx USD 1.5 bn)
as on Sept. 30, 2009.

Kotak Investment Banking offers the complete breadth and depth of high-quality financial advisory
services and capital market solutions to domestic and multinational clients across sectors. Our services
include Equity and Debt Capital Market issuances, M&A Advisory, Private Equity Advisory, Restructuring
and Recapitalization services, and Infrastructure Advisory & Fund Mobilization. The firm has a deep
understanding and strong domain knowledge of all major industry sectors through a team of dedicated
sector experts.

2. History

The Kotak Mahindra group is a financial organization established in 1985 in India. It was previously
known as the Kotak Mahindra Finance Limited, a non-banking financial company. In February 2003,
Kotak Mahindra Finance Ltd, the group's flagship company was given the license to carry on banking
business by the Reserve Bank of India (RBI). Kotak Mahindra Finance Ltd. is the first company in the
Indian banking history to convert to a bank.

3. Revenue Stream (for 3 FY10) 331 crores

Fee Income 13%
Financing Activity 38%
Others 2%
Premium Income 29%
Treasury/Investments 18%

4. Ranking

 Best Investment Bank in India by FinanceAsia, 2010, 2009, 2008, 2007 & 2006
 Best Domestic Equity House by Asiamoney, 2010, 2009 & 2008
 Best Equity House in India by FinanceAsia, 2010 & 2008
 India Equity House of the Year by IFR Asia, 2008
 Best Investment Bank in India by Global Finance, 2010, 2009 & 2008
 Best Domestic Investment Bank by Asset Asian Awards, 2009, 2008, 2007 & 2006

5. Lead Transaction in last 3-4 years

In FY2010, Kotak Investment Banking has been the lead manager to ten out of the fifteen IPOs (above Rs.
2.5 billion) accounting for ~73% of the total money raised in these IPOs. We have also recently completed
the first-ever QIP issuance in India where a simultaneous but unlinked offering of NCDs and Warrants was
made to investors. We have helped companies raise ~ US$ 5.45 billion through QIPs and IPOs in FY2010
YTD. Some of the recent transactions include:
IPO

 Jaypee Infratech: In 2010, Book Running Lead Manager, Rs. 22.3 bn

 DB Realty: In 2010, Book Running Lead Manager, Rs. 15 bn
 Hathway: In 2010, Book Running Lead Manager, Rs 6.7 bn
  Nitesh Estates: In 2010, Book Running Lead Manager, Rs. 4.1 bn
 Jubilant FoodWorks: In 2010, Sole Book Running Lead Manager, Rs 3.3 bn
 Vascon Engineers: In 2010, Book Running Lead Manager, Rs 1.8 bn
 NHPC: In 2009, Book Running Lead Manager, Rs. 60.4 bn
 Adani Power: In 2009, Book Running Lead Manager, Rs. 30.2 bn
 JSW Energy: In 2009, Book Running Lead Manager to the IPO of Rs. 27 bn
 Pipavav Shipyard: In 2009, Co-book Running Lead Manager, Rs. 5 bn
 Godrej Properties: In 2009, Global Coordinator and Book Running Lead Manager, Rs 4.7 bn
 DB Corp: In 2009, Book Running Lead Manager, Rs. 3.8 bn
 Mahindra Holidays & Resort: In 2009, Global Coordinator and Book Running Lead Manager, Rs 2.8 bn

Indian Depository Receipts (IDRs)

 Standard Chartered: In 2010, Book Running Lead Manager – first-ever issuance of an IDR, Rs. 24.8 bn

FPOs

 NMDC: In 2010, Book Running Lead Manager, Rs. 99.3 bn

 NTPC: In 2010, Book Running Lead Manager, Rs 84.8 bn
 Rural Electrification Corporation: In 2010, Book Running Lead Manager, Rs 35.3 bn

QIPs

 Bharat Forge: In 2010, Joint Global Coordinator and Book Running Lead Manager - first-ever
simultaneous yet unlinked issuance of Equity and Non-Convertible Debentures + Warrants in India, Rs 6.2
bn
 Jubilant Organosys: In 2010, Book Running Lead Manager, Rs. 3.9 bn
 Mahindra Forgings: In 2010, Book Running Lead Manager, Rs. 1.8 bn
 HDFC: In 2009, Book Running Lead Manager - QIP of NCD with Detachable Warrants, Rs. 43 bn
 Housing Development & Infrastructure: In 2009, Joint Global Coordinator and Book Running Lead
Manager, Rs. 16.9 bn
 GVK Power & Infrastructure: In 2009, Joint Global Coordinator and Book Running Lead Manager, Rs. 7.2
bn
 Cipla: In 2009, Global Coordinator and Book Running Lead Manager, Rs. 6.8 bn
Rights Issues
 Piramal Glass: In 2009, Lead Manager, Rs. 1.9 bn
 State Bank of India: In 2008, Lead Manager, Rs. 167 bn

Landmark Transactions
 Standard Chartered: First ever issuance of an Indian Depository Receipt
 Bharat Forge: First eversimultaneous yet unlinked Issuance of Equity and Non-Convertible Debentures +
Warrants in India
 HDFC: First ever QIP of NCD with detachable warrants, Rs. 43 bn
 NHPC: Largest ever PSU IPO, Rs. 60.4 bn
 State Bank of India: Largest ever Equity Issuance in India, Rs. 167 bn
 Reliance Power: Largest IPO in India till date, Rs. 115.6 bn
 DLF: Largest Real Estate IPO in India till date, Rs. 91.9 bn
 GMR: Largest QIP transaction till date, Rs. 39.7 bn
 Mahindra Gesco: First QIP transaction exceeding, US$ 100 mn
 Hughes Software Systems: First Book Built IPO

6. USP

 A solid reputation for unmatched advisory services and deal execution skills, which is reflected in our
continued leadership on the league tables for both Equity offerings and M&A transactions
 An in-depth understanding of the local market and intimate knowledge of industry verticals through
dedicated sector experts
 Our values focused on maintaining the highest ethical standards and our approach in always keeping our
clients’ interests first
 The ability to leverage the Group’s intellectual capital and wide-ranging experience to customize
innovative solutions for our clients
 Strong relationships with all the leading business houses in India cultivated through several years of client
servicing

7. Future Landscape

Six months ago, India’s Kotak Investment Banking, a subsidiary of the powerful Kotak Mahindra group,
joined forces with Russia’s leading investment bank Renaissance Capital to tap new business opportunities
in the emerging markets. The alliance aimed to use Renaissance’s franchise in Russia, Africa and the
former Soviet Union and Kotak’s Indian experience to help big companies from those countries buy into
each other’s markets. Kotak was looking for a new partner after Goldman Sachs pulled out of a joint
venture in 2006 and opened its own offices in Mumbai.

The lure of new opportunities in Africa acted as an additional spur to compel Kotak to focus on emerging
markets. Middle-market M&A activity both in and out of India is driving the country's investment banks to
forge alliances abroad. Great expectations for Africa have been behind recent strategic tie-ups.