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Showing posts from January, 2016

Morgan Stanley Tops League Table for Financial Advisor to Private Equity Transactions in 2015

PwC tops table inclusive of due diligence, other services; Unitus Capital tops by deal volume 

Morgan Stanley claimed the top position in the Venture Intelligence League Table for Transaction Advisor (Private Equity deals) for calendar 2015 acting as financial advisor to two qualifying PE investments worth $1,320 million during the year. The transactions advised by Morgan Stanley were the $1,150 million buyout of Senvion by Centerbridge Partners (from wind turbine maker Suzlon Energy) and the $170 million investments by Blackstone in IT Services firm IBS Software.  Arpwood Capital, which also advised the Senvion - Centerbridge Partners deal, stood next.

The Venture Intelligence League Tables, the first such initiative exclusively tracking transactions involving India-based companies, are based on value of PE and M&A transactions advised by Transaction and Legal Advisory firms.

Inclusive of its roles in due diligence and related advisory activities, PwC topped the league table for …

SBI Capital Markets Tops Transaction Advisor League Tables for M&A in 2015

Deloitte Tops Transaction Advisor status inclusive of due diligence, other services 

SBI Capital Markets topped the Venture Intelligence League Tables for Transaction Advisor to M&A transactions for 2015 advising M&A deals worth $2,233 million (across 2 qualifying deals) followed by Credit Suisse ($1,970 million across 2 deals) and Arpwood Capital ($1,917 million across 2 deals).

SBI Capital Markets advised M&A deals during the year were the Jaiprakash Power Ventures’ sale of its hydropower projects to JSW Energy for $1,466 million and the $767 million acquisition of Lafarge India’s two cement units by Birla Corporation. Credit Suisse advised deals were the $1,170 million acquisition of telecom tower firm Viom Networks by American Tower Corporation and the $800 million acquisition of women's health business of Famy Care by Mylan Laboratories.

Arpwood Capital advised M&A deals in 2015 were the $1,150 million acquisition of Senvion by Centerbridge Partners from wind …

Private Equity Exits that Stood Out in 2015

Venture Intelligence is India's longest serving provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to Sign Up for the FREE Weekly Edition of the Deal Digest: India's First & Most Exhaustive Transactions Newsletter.

Impact Investments witness 8% rise during 2015

Social VCs deploy $95 Million across 53 Deals; Focus on Cos Leveraging IT



AZB & Partners Tops League Table for Legal Advisors to M&A Transactions in 2015

Luthra & Luthra, Cyril Amarchand Mangaldas claim the No.2 & No.3 slots

AZB & Partners topped the Venture Intelligence League Tables for Legal Advisors to M&A transactions in 2015 advising deals with a value tag of $9224 million (across 64 qualifying transactions). AZB & Partners was followed by Luthra & Luthra which advised deals worth $6123 million (across 10 deals); Cyril Amarchand Mangaldas ($5459 million across 31 deals).

The Venture Intelligence League Tables, the first such initiative exclusively tracking transactions involving India-based companies, are based on value of PE and M&A transactions advised by Transaction and Legal Advisory firms.

AZB & Partners advised M&A deals during the period included the $1,170 million acquisition of telecom tower firm VIOM Networks by American Tower Corporation and the $800 million acquisition of women's health business of Famy Care by Mylan Laboratories. Transactions advised by Luthra & Luthra incl…

AZB tops Legal Advisor League Table for Private Equity Transactions in 2015

Cyril Amarchand Mangaldas, Khaitan & Co claim the No.2 & No.3 slots

AZB & Partners retained its status – for the sixth consecutive year – as the Top Legal Advisor (Private Equity) during 2015. According to Venture Intelligence League Tables, AZB advised PE deals worth $8,969 million (across 68 qualifying deals) during 2015. Cyril Amarchand Mangaldas ($3,943 million across 37 deals) and Khaitan & Co ($2,872 million across 31 deals) enjoyed the second and third spots.

The Venture Intelligence League Tables, the first such initiative exclusively tracking transactions involving India-based companies, are based on value of PE and M&A transactions advised by Transaction and Legal Advisory firms.

AZB advised deals during the period included the $383 million investment by Apax Partners into NBFC firm Shriram City Union Finance and the $500 million investment by Temasek, PremjiInvest, Softbank Corp and others into E Commerce firm Snapdeal. Transactions advised by Cyril Amarc…

ET-NOW - Venture Intelligence Funding Meter kicked off

ET-NOW - Venture Intelligence Funding Meter kicked off on the channel's Startup Central show.


Catch It Each Friday 6.30 pm on TV or etnow.tv

Venture Intelligence is India's longest serving provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to Sign Up for the FREE Weekly Edition of the Deal Digest: India's First & Most Exhaustive Transactions Newsletter.

Private Equity investments in Real Estate crosses $5-B in 2015 to Highest Level Since 2008

Year witnesses several JV platforms being created by large investors & established developers

Private Equity Real Estate (PERE) firms deployed over $5 billion in Indian Real Estate companies and projects – the highest since the financial crisis of 2008. According to research from Venture Intelligence, a provider of data on private company financials, transactions and their valuations, PERE firms made 90 investments in India during 2015. Of these, 85 transactions had an announced value of $5,061 million. While the activity level was 20% higher compared to the 75 investments in the previous year, the transaction values spiked significantly compared to 2014 (which had witnessed reporting of $2,214 million across 57 deals with announced value).


The Venture Intelligence study pointed out that 2015 witnessed several Joint Venture (JV) platforms being created between large investors and established developers. Standard Chartered announced that it will invest $302 million or INR 2,000 cro…

When Startup Hype Meets Bureaucratic Guile

How can start-ups complain when the Prime Minister makes the government machinery work on a Saturday evening to unveil plans for making the country more Start-up friendly?

The media coverage had set expectations high. Lowering of Capital Gains tax - including apparently plans to do away with it. And the Evil Startup / Angel Tax was as good as abolished. Unfortunately, The Devil, as they say, lies in The Details (Page 33 onwards to be specific).

Are you the founder of a company that's 5 years and 1 day old? Sorry old chap, your baby is no longer a Startup. Regardless of the age bias, it looks like most of the benefits under the #StartupIndia schemes will accrue only to companies that are a part of government supported / recognized incubators. Here's the extract from the official document:
In order for a “Startup” to be considered eligible, the Startup should:
• be supported by a recommendation (with regard to innovative nature of business), in a format specified by DIPP, from …

What does Foodtech & Hyperlocal Cos Giving Up on Tier II Cities mean?

One by one, well funded players in the foodtech and hyperlocal sectors - including leaders Zomato and Grofers - are announcing closing down of their operation in Tier II cities.

The withdrawal reminds one of the early days (2006 - 2008) of Private Equity Investing in Real Estate when PE-RE firms had spread out beyond the metros to invest in cities like Jodhpur, Kochi, Jaipur, Nagpur, Nashik, Mysore, Indore and Vishakhapatnam. The stats highlighting the boom across Tier II & Tier III towns were, of course, supporting.  But, come financial crisis, PE-RE investors turned allergic to Tier II and started to explicitly state that they would henceforth focus on Tier I markets only.

Does the Zomato and Grofers experience mean that the "pent up demand in small town India" phenomenon that works for big guys like Flipkart and Snapdeal, will not work for food and local delivery? At least until the road traffic in these cities and towns does not make going out to eat or to pick up g…

The Indian Venture Capital Funnel: Darwinism at Work?

Extract from the Venture Intelligence India Venture Capital Report 2015:

The Darwinian nature of the VC funding process means that there are several companies - at each funding stage - that struggle to raise their next round. And are hence ripe for acquisition.  Would you like a list of potential target companies - say, those that have not managed to raise additional funding for 18 months  - that you can cherry pick from? Contact Us with your specific request (Industry/Sector, Valuation, etc).

Venture Intelligence is India's longest serving provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to Sign Up for the FREE Weekly Edition of the Deal Digest: India's First & Most Exhaustive Transactions Newsletter.

Why don't Indian clones of Amazon care for its DNA?

Haresh Chawla has an biting beginning-of-the-year post for start-ups at Founding Fuel.
There are two Indias: the top 10% that can afford your clone offering, and the remaining 90% that can’t or simply won’t...The Indian consumer is value-driven, not convenience-driven. We have all the time in the world to research and find the best price. Most have time to find a competing offer. We hate paying for service. And loyalty—what is that? Indians will not pay for delivery, service or extra conveniences and will accept deals from your competitors with both hands. Does your clone-model account for this? Servicing the 90% can become a continuous drain on your business. There is no farming with them, only hunting. What I find utterly baffling is that while our startup entrepreneurs put up Amazon, Uber and Airbnb as their idols, they never focus on how these folks did it. They never tune into the fact that Amazon’s founder Jeff Bezos knows that he is playing a thin-margin game and winning depen…

The Most Active Venture Capital Investors in India Display Diverging Investment Patterns Across 2015. What Does it Mean for The New Year?

Will Uber (& Ola and Amazon & Flipkart) Investor Tiger Global's Going Cold on India in Q4' 15 Tell on VC investments in 2016?

Click Here or on the Image below to discuss Tiger Global's seeming Hibernation.

Private Equity investments surge 50% YoY to hit all time high of $16.8 B in 2015

Private Equity investments in India touched a record high of $16.8 billion in 2015 (across 661 deals), 16% higher than the previous high of $14.5 billion (across 529 deals) recorded in 2007 and a whopping 50% higher than the $11.2 billion (across 530 deals) invested during the previous year, according to early data from Venture Intelligence, India’s longest serving research service focused on private company financials, transactions and valuations. The surge was led by continued mega investments in consumer targeting Internet & Mobile Services companies that accounted for almost $5.3 billion or 31.5% of the investment pie during the year. (Note: Venture Intelligence’s figures on PE investments do not include investments in Real Estate.)

2015 witnessed 44 investments of $100 million or more, compared to only 19 such deals in 2014, the Venture Intelligence analysis showed. The average deal values climbed steadily till the third quarter before taking a breather in the last quarter.