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July 06, 2011

Deal Alert: NSL Sugar acquires Jay Mahesh Sugar for Rs.231-Cr

Edited excerpts from the Advisor's Press Release:

NSL Sugars Limited, a part of the Nuziveedu Seeds group, has acquired 100% stake in Jay Mahesh Sugar Industries Limited (JMSIL), at an enterprise value of approximately Rs.231.2 crores. Prior to the transaction, JMSIL was a wholly owned subsidiary of Spray Engineering Devices Limited (SEDL), a specialist maker of sugar plant equipment. Anand Rathi Advisors was the exclusive advisor to SEDL Group for the transaction.

JMSIL's plant, located at Majalgaon in the Beed District of Maharashtra, has a crushing capacjavascript:void(0)ity of 5,000 TCD and a Co-Gen project of 30 MW along with Distillery plant of 100 KLPD is expected to be commissioned shortly. The Co-Gen project of JMSIL will be eligible for Carbon emission reduction. JMSIL was acquired by SEDL in September 2006 with an intention to showcase the latest equipments & energy efficient technologies developed by SEDL

Role of Anand Rathi:

* Preparing the business plan and marketing the deal opportunity with potential Investors / Buyers
* Negotiating the price and structure of the transaction, with the existing Investors and the Acquirer
* Managing the entire diligence process including legal, financial & technical due diligence & assisting in finalization of the closing documentation

About Spray Engineering Devices Limited:
Spray Engineering Devices Limited is a flagship company of SED Group, headquartered at Mohali (Chandigarh), is an Vision & Mission engineering Company, specifically focused on (re)designing and engineering of processes & equipments along with their
Strategic Intent automation ensuring highest energy efficiencies. Company offers integrated, cost-effective EPC solutions for Sugar and other process industries. New Vernon Private Equity limited & Klondike Investments Limited joined SEDL as financial partners in 2006.

About Anand Rathi Advisors Limited:
Anand Rathi Advisors Limited is a leading investment bank focused on the middle-market in India. ARAL is one of the group companies of Anand Rathi Group. Founded in 1994, Anand Rathi Group is a leading Indian financial services company and provides the entire range of financial and advisory services which include investment banking, wealth management, corporate advisory, brokerage & distribution of equities, commodities, mutual funds and insurance, structured products and is supported by powerful research teams. The Company has a pan India presence with over 300 offices (employing over 3500 professionals) as well as an international presence through offices in New York, Dubai, Hong Kong, Bangkok and Singapore. Anand Rathi Private Wealth adjudged Best Domestic Private Bank (India) by Asia Money Polls 2009, 2010 as well as 2011.

Further information about the Anand Rathi is available at www.rathi.com