Deal Communique June Volume-01

7/28/2019 Deal Communique June Volume-01

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PE l VC l M&AJune Volume 01

[May 27- June 02 , 2013]

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


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

The Deal Communiqu is an INDEL Advisors initiative to present a weekly

insight of deals related to private equity, venture capital and merger &acquisition announced during the week in India.

This report captures the details of deals announced based on the

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. Wehave taken utmost care while bringing the deal details through this report,

however, neither INDEL Advisors LLP nor any other member of 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 Deal Communiqu.

On any specific matter reference should be made to the appropriate

advisors.

In case you require any further information on the matter covered in this

report or wants to provide your feedback - please mail us at

[email protected] . Your feedback is important to us.


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Private Equity

Private Equity

Snap Fitness to raise $10 mn to fund expansion

UCX may sell 5% stake to bullion trader Harish Pawani

IL&FS, Kotak PE looking to exit Bangalore based BFW

Financial Technologies plans to reduce stake in IEX

Nava Bharat Venture plans strategic investment in Odisha Unit

Mantri Developers in talks with Morgan Stanley to raise PE

IL&FS, StanChart PE plan to launch $600 mn Infra Fund

HRH Group Of Hotels Plans To Raise Funds For Expansion


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2013 INDEL Advisors LLP. All right reserved

Deal Concise

Snap Fitness to raise $10 mn to fund expansion

Bangalore-based Snap Fitness India, the Indian

master franchisee of Minneapolis, US-based

fitness chain Snap Fitness, is in the process of

raising a $10-million growth fund to fuel its

expansion in the country and has approached PWC

to manage the fund raising exercise.

Snap Fitness, represented by Force Fitness India

Pvt Ltd (Master franchisee) entered India in 2008

and at present, the company operates 4 company-

owned and 36 franchisee-run fitness centers in

India. Of these, 30 are located in Bangalore with

the remaining centers spread across New Delhi,

Mumbai, Hyderabad and Chennai. It has 2,200centers worldwide.

It plans to use the funds to meet its mandate of

opening 300 centers - 100 company owned and

200 franchisee operated in the next five years,

including 10 each in Hyderabad and Chennai.

This year the company was looking at opening 40

centers pan-India. Snap Fitness centers, in sizes of

3,000 sft, 4,000 sft and 5,000 sft, typically entail

an investment of between R1.2 Cr and Rs 1.5 Cr

each. The company follows a 'hub-and-spoke'

model, where it will have one company owned

centre and close to four franchise run locationsbuilt around that area. While the operational

break even happens from day one, each centre

reaches a cash positive stage once it gets at least

600 members in three to five months' time

frame.

Announcement Date | 31 May 2013

Industry | Healthcare


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Deal Concise

UCX may sell 5% stake to bullion trader Harish Pawani

Universal Commodity Exchange (UCX) is planning to

sell 5% stake in the exchange to Dubai based

bullion trader Harish Pawani.

If the deal goes through, UCX will issue 50 lakh

fresh shares (5% stake) to Pawani's company - Bin

Sabt, raising the paid and subscribed shares toR10.5 Cr from R10 Cr. The proceeds from the stake

sale would be used to upgrade trading technology.

Pawani promoted UAE based Bin Sabt is a

supplier of bullion bars to nominated agencies like

MMTC, HHEC, PEC and STC.

The exchange went live last month with Commex

Technology as the anchor investor with 40% stake,

REC and Nabard owns 16% each, IFFCO holds 15%

and IDBI Bank holds 10%. It has trading in 11

contracts across nine commodities - gold, silver,

crude oil, chana, RSS4 rubber, mustard, soyabean,

refined soya oil and turmeric with and an average

daily turnover of 400 Cr- FMC data for thefortnight ended 15.05.13 showed.

UCX will have to inform FMC of the sale, to ensure

that the expanded capital base does not reduce

stipulated PSU holding in a commex below the

26% threshold. Government rules require

promoters of a new commodity exchange to bring

in Rs.100 Cr as equity capital to start operations.

It also allows the main promoter or anchor

investor in a new commex to hold up to 40% and

to bring this down to 26% within five years of

commencement


Industry | Banking/Financial Services



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Deal Concise

IL&FS, Kotak PE may exit Bangalore based Bharat Fritz Werner

PE funds IL&FS and Kotak Private Equity are

looking to exit Bangalore-based machine tools

maker Bharat Fritz Werner (BFW)

The PE investors are eyeing a valuation of around

$100- 120 MN and are currently in talks withinvestors in Asia and Europe for stake sale. The

two PE funds had jointly invested 25 crore for an

undisclosed stake in BFW in 2005 which was

utilized for expansion of its facilities, setting up

an Export Oriented Unit at Bangalore and to

penetrate European and American markets.

The unlisted machine tools maker, which has a

turnover of more than 450 crore, has several

overseas clients in Italy, Germany, France,

Netherlands, Oman, Russia, Sri Lanka, Saudi

Arabia, UAE and Thailand and it counts carmakers

- Honda Motors, Maruti Suzuki, Kirloskar Toyota

and auto component-maker Bosch among its

clients.

Bharat Fritz Werner is a part of the Kothari

Group. It was setup in 1961 with German techno

commercial collaboration. BFW manufactures

conventional milling machines in the country and

its products cater to aerospace, automobile,

defence, forging and pharmaceutical segments.

In 2011, it acquired majority stake in Germany

based machine tool manufacturer - Matec

Machunenbau GmBH.


Industry | Engineering



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Deal Concise

Nava Bharat Venture Plans Strategic Investment In Odisha Unit

Hyderabad-based Nava Bharat Ventures Limited

plans to create separate SPV for power and ferro

chrome operations of Odisha unit and shall rope in

strategic investors for it.

In February, the company had commissioned and

synchronised with the Odisha power grid two 64

Mw power units at Kharagprasad village in

Dhenkanal district where it has a 75,000-tonne

p.a. capacity ferro chrome plant. Its Odisha unit

comprising of ferro chrome operations and

captive/independent power generation, have

been affected on and off by regulatory restrictions

concerning sale of power and supply of chrome

ore aside from un-remunerative merchant powerrates and volatility in ferro chrome market.

It proposes to offer equity in both the SPVs to

make them captive units for the investors under

the prevailing regulations.

Nava Bharat Ventures is involved in power

generation, ferro alloys, mining and agri-business

with operations spread over India, South East

Asia and Africa. The company witnessed a

growth of 31.80% in net profit.

Last November, Lehman Brothers Holdingsubsidiary Kingfisher Capital CLO Limited has

exited from Nava Bharat Ventures. The fund sold

around 45,33,135 shares (5.08%) for R195 per

share aggregating to R88.40 Cr, through bulk

deal on NSE.


Industry | Energy / Utilities



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Deal Concise

Mantri Developers in talks with Morgan Stanley to raise PE

Mantri Developers is planning to raise PE

investment and has started discussions with

Morgan Stanley, BS stated.

The company plans to use the funds for its

projects. In 2006, Morgan Stanley had invested

$68 Mn for 17.68% stake in the company.

In 2010, the Bangalore based developer raised $89

Mn from Xander group in two mixed-use projects

in Bangalore and Chennai. Last year, ASK Property

Investment Advisors acquired a majority stake for

R100 Cr in a project at Bangalore undertaken by

Mantri Developers.

Incorporated in 1999, Mantri Developers is theflagship company of the Mantri Group. Sushil

Mantri holds 74.29% along with Malpani family

holding 8.25% of the total shareholding in the

company.

At present, Mantri has 6.75 msf space under

development through five projects in residential

and three projects in commercial segments The

company has another 5.26 msf of upcoming

residential development in the short term.

Earlier in May, Mantri Developers launched atechno-residential project, Mantri Web City, in

Bangalore which offers homebuyers 2-BHK and 3-

BHK homes including penthouses in sizes ranging

from 965 sq ft to 1,835 sq ft.


Industry | Real Estate



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Deal Concise

IL&FS, StanChart PE plan to launch $600 Mn. Infra Fund

IL&FS Investment Managers Ltd and Standard

Chartered Plcs private equity arm Standard

Chartered Private Equity Ltd are raising a new

infrastructure fund that is estimated to be

around $600 million (Rs 3,344 crore). The fund

plans to raise investment from investors of its

previous funds and is likely to close within a year.

The new fund would also be looking to invest in

Middle East nations as plenty of infrastructure

projects are coming up in the region.

Standard Chartered IL&FS Asia Infrastructure

Growth Fund was the previous fund these two

companies launched together in 2008. It was a

$658 Mn pan-Asia infrastructure fund with focusin India and China. It has invested in IL&FS

Transportation Networks Ltd and Malakoff

Corporation Bhd, among others.

Standard Chartered IL&FS Asia Infrastructure

Growth Fund Company was planning to pick up

17% equity in Hyderabad-based infrastructure

company Navayuga Road Projects (NRPPL) forR360 Cr.


Industry | Infrastructure



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Venture Capital

Edukart Gets USD 500K as Seed Investment From Kima Ventures

Inventus Capital, Mumbai Angels invested USD 2mn in eDreams

Edusoft

Rajan Anandan, Blume Ventures Invest In Socialblood

Invictus Oncology raises Rs.10.5 crore from Navam Capital, Aarin

Capital

SaaS startup Unicommerce raises funds from Nexus Venture Partners


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Deal Concise

Edukart Gets USD 500K as Seed Investment From Kima Ventures

Delhi based e-learning startup, Edukart has raised

USD 500K in seed funding from institutional and

angel investors. The round was lead by French

origin Kima Ventures and other includes Amit Patni

and Arihant Patni, Shiven Malhotra of AKM

Systems, Vibhor Mehra (ex-partner of SAIF

Partners) a Stanford Alumni. The funds raised will

be used to accelerate EduKarts growth, launchnew courses in partnership with both Indian and

international institutions, and strengthen its

franchisee network.

Edukart was founded in 2011 by alumni of Stanford

University, Ishan Gupta and Mayank Gupta (IIM). It

had previously raised funds from One97Communications founder Vijay Shekhar Sharma

and Providence Capital Director Manish Kheterpal.

The company offers both short certification

courses and degree programmes for which it has

partnered with institutions such as

the London School of Business & Finance, Indian

and Mobile Association of India, Mahatma

Gandhi University and Retailers Association inIndia. EduKart.com helps students get degrees

through online programs in MBA, MCA and BBA

and certificate courses in areas of retail, finance,

digital marketing, programming languages and

project management. It currently has a team of

25 people and 40 franchise partners across the

country.This is the second investment made by Kima

Ventures in e-Learning startups in India. The first

investment of $150,000 came in Codelearn,

online learning startup for programmers.


Industry | Learning



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Deal Concise

Inventus Capital, Mumbai Angels invested USD 2mn in

eDreams EdusoftBangalore based education technology company,

eDreams Edusoft has raised $ 2 million from

Inventus Capital Partners in its second round of

funding, with participation of existing investors

Mumbai Angels which invested INR 5 crore this

year in January.

Founded in 2010, by Rajeev Pathak, an alumnus

of BITS Pilani and an ex employee of Wipro,

eDreams Edusoft is an education technology

company with its products driven by innovation

across technologies such as Artificial Intelligence

(AI), Machine Learning, NLP and Speech

processing. The company has invented anintelligent and adaptive personal tutor FunToot

for K-12 education. Funtoot is an intelligent

personalized tutor that teaches children in a fun

and interactive manner.

Having more than 10,000 clients for Funtoot in

India, the company plans to take it global.

Partnered with several educational and research

organisations, eDreams has won Bloomberg

Pitch Award 2011-12 and Marico Innovation

Foundation Award 2012.

Inventus capital partners is a venture firm and

has backed companies such as Dhingana, Power

2SME, Funds India and others.


Industry | Learning



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Deal Concise

Rajan Anandan, Blume Ventures Invest In Socialblood

Bangalore based Socialblood, a social network

that connects blood donors, has raised an

undisclosed amount from multiple investors,

medianama states. These investors include Google

India MD Rajan Anandan, Karthik Reddy of Blume

Ventures, and Ravi Gururaj and Ramesh Shah of

Harvard Business School Alumni Angels.

Founded by Karthik Naralasetty in 2011,

Socialblood is a social network that connects

blood donors and recipients of the same blood

type through Facebook. One just needs to login

with their Facebook account to use the website.

The platform asks permission to access ones

public profile, friend list, email address, birthday,

current city, website, personal description and

friends current cities.

After logging in, it collects information such as

blood type and whether you can donate blood.

It then maps the location of the donor on Googlemaps and notifies if anyone in their Facebook

network requests for their blood type. One can

also check all blood requests from friends,

requests based on criticality, among others. The

company claims that it currently has about 863

blood donors. Other than blood requirements

one can also request for plasma or red blood

cells by submitting information such as patient

name, date of requirement, units, hospital

address, hospital name, and description. It then

sends notification to blood donors who can fulfill

the requirement.





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Deal Concise

Invictus Oncology raises Rs.10.5 crore from Navam Capital,

Aarin CapitalInvictus Oncology Pvt. Ltd has raised R10.5 Cr for

development of platinum chemotherapies

from Navam Capital and Aarin Capital in its first

round of fund-raising.

Platinum chemotherapies is used in the treatment

of several types of cancer, including lung,

testicular, colorectal, and childhood cancers.

It is developing chemotherapy models that would

be more effective and less toxic than the current

treatment available. It plans to accelerate the pre-

clinical development of its antibody-drug

conjugate platform technology that uses a

proprietary technology.

Aarin Capital is led by Ranjan Pai and T.V.

Mohandas Pai invests in companies offering

innovative healthcare, life sciences and

technology-based products or services.

Navam Capital is a venture capital arm of GPSK

Investment Group, focused on making seed

and early-stage investments in energy,

technology and health Care.

Before this deal Aarin Capital and Navam

Capital along with IndoUS Venture Partners

made an investment of R18.5 Cr in

dermatology company - Vyome Biosciences in

September 2012.

Announcement Date |28 May 2013




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Deal Concise

SaaS startup Unicommerce raises funds from Nexus Venture Partners

Delhi-based Unicommerce eSolutions, a provider

of SaaS based order management and fulfillment

solutions, has raised an undisclosed amount in

funding from Nexus Venture Partners. The

companys platform used by ecommerce

companies and retail businesses, as well vendors

who supply to them.The funds raised will be

utilized to increase sales and marketing efforts

and build its product and infrastructure. As part of

investment, Anup Gupta from NVP will be joining

the board.

Founded in 2012 by Ankit Pruthi, Karun Singla and

Vibhu Garg, Unicommerce flagship product-

Uniware is a web based solution that manages the

complete order fulfillment lifecycle.

The company is already working with ecommerce

players like Snapdeal and Jabong. It have clients in

different verticals like Grocery Mygrahak,

Jewellery Bluestone, Apparels

DoneByNone and Highstreetlabels.

Unicommerce manages over 1.5 million

product shipments per month across 50+

warehouses and 1000+ concurrent users

globally.

Last month, Nexus Venture Partners along

with Avalon Ventures invested $4.5 Mn in

Indix, an Indian and American located firm that

is into big data, analytics, visualization and

application serving to optimize product and

services companies offerings.

Announcement Date |28 May 2013

Industry | Technology



18/32Merger & Acquisition

Blue Star Infotech makes strategic investment in Activecubes

Balmer Lawrie to acquire domestic Tour & Travel Company

Snapdeal buys Sequoia backed - Shopo.in

TVS Logistics buys US based Wainwright Industries

Healthcare Global acquires majority stake in BACC

Sumitomo Rubber set to take over Apollo Tyres South Africa


19/32Merger & Acquisition

Cigniti Technologies acquires Gallop Solutions

Micro Technologies to divest stake in two Subsidiaries

Walmart to buy 49% stake in Cedar Support

Rajapalayam Mills plans to sell its Biotech Unit

GIC May acquire Lloyds Syndicate Member

Concert Care acquires Novel Infosolutions


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Deal Concise

Blue Star Infotech makes strategic investment in Activecubes

Blue Star Infotech Limited, a software services and

solutions provider has made investment

in Activecubes Solutions India Pvt. Ltd., a global

firm operating in the Decision Management

Space, according to BSE filings.

Both Blue Star Infotech and Activecubes have a

strong presence in the US, with significant areas ofsynergy and leverage.

Incorporated in 2007, Activecubes provides

Business Intelligence and Analytical services and

provide solutions to global clients across financial

services, consumer packaged goods, retail,

telecom and health care.Part of the Blue Star Group, Blue Star Infotech

caters to the IT and software R&D needs of

enterprises globally, and offers a broad spectrum

of services ranging from Application Development

and Management, Product Engineering, Package

Implementation and Testing to new age

solutions such as Analytics/Business

Intelligence, Mobility and Cloud Computing. The

company has operations in USA, Europe, India

and Singapore.

Last June, Blue Star Infotech acquired Infostack

Solutions Pte Ltd in Singapore through its

subsidiary Blue Star Infotech (Singapore) Pte. Ltd

which is a Consulting & IT services firm

specializing in providing value chain

management solutions.





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Deal Concise

Balmer Lawrie to acquire domestic Tour & Travel Company

Government of India enterprise, Balmer Lawrie &

Co Ltd is planning to acquire tour operating

Company to its travel services arm, Balmer Lawrie

Tours and Travel and is in talks with an operator

that runs tour packages to Europe, the Far East

and South Africa.

Its tours and travel arm is well established in

ticketing segment. The ticketing business accounts

for almost 90% of its total revenues from the

travel segment. Balmer Lawrie has offices in 19

cities in India and provides travel and tour related

services to all major Central Government

Ministries, PSUs, Semi-government, Autonomous

Bodies and Corporate.

It has seven Strategic Business Units also in India

and abroad Industrial Packaging, Greases &

Lubricants, Performance Chemicals, Logistics

Infrastructure, Logistics Services, Tea and

Refinery & Oilfield Services. The company has

plans to invest R500 Cr over next two-to-three

years in new projects including the setting up of

a logistics hub near Kolkata and Vishakhapatnam

and a steel barrel plant in Navi Mumbai.

At the same time it is set to acquire 55 acres of

land for setting up the logistic hub near Kolkata.

The estimated investment on the project is closeto R150 Cr. The company has also entered into a

JV with Visakhapatnam Port Trust for developing

another logistic hub at an estimated investment

of R200 Cr.


Industry | Retail / Leisure/ Travel



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Deal Concise

Snapdeal buys Sequoia Backed - Shopo.in

Snapdeal.com has acquired the assets of Shopo.in,

an online marketplace for Indian designer and

handcrafted products for undisclosed amount.

With this acquisition, Snapdeal will provide these

unique products at great prices to its 20 Mn

members, and will provide Shopo's sellers to

leverage Snapdeals nationwide reach.

In 2011, Shopo.in had raised seed funding from

Sequoia Capital, SRI Capital, Seeders, Sashi Reddi,

and other angel investors. Shopo was founded by

Theyagarajan S and Krithika Nelson in 2011. The

online store that sells Indian products across

categories such as apparel, accessories, home

dcor etc.

Recently in April, Snapdeal raised of $50 Mn from

eBay and existing investors - BVP, Nexus Venture

and IndoUS Venture Partners. In March it raised

term loan of R8 Cr from SVB India Finance.

Snapdeal, founded in 2010 by Kunal Bahl andRohit Bansal, started as a group buying site

featuring heavily discounted deals on local

services. Snapdeal has 18 Mn registered users,

transacts 25,000 units a day and employs more

than 1500 employees.

It raised $40 Mn from Bessemer along withNexus and IndoUS in July 2011 which followed

the investment of $12 Mn by Nexus and IndoUS

in January the same year. It recently acquired

online sports goods retailer - esportsbuy.com.





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Deal Concise

TVS Logistics buys US based Wainwright Industries

TVS Logistics has made its second acquisition in

US by acquiring Wainwright Industries for R50.

With this deal, TVS has equipped itself with

complete end-to-end production supply chain

solutions such as 'cross docking' and sub-

assembly for manufacturers and will be able to

offer complete outsourcing model to its

customers. TVS has made an initial payment ofR25 Cr and will pay the rest over two years on

condition that the US-based company meets

various financial targets. The employees of the

company will be retained.

Founded in 1947, Missouri based Wainwright

Industries operates six facilities in three stateswith manufacturing and services two core

competencies. TVS is aiming to have a total

turnover of R2400 Cr, its UK-dominated overseas

operations contributing more than 60% of

revenue.

TVS had made its first acquisition in USA when it

acquired Manufacturers Equipment and SupplyCompany in 2011. Three months back, TVS

acquired 85% stake in Rico Logistics for R100 Cr.

Wainwright is the fifth overseas acquisition by

TVS Logistics. Earlier it had acquired two UK

based companies, Multipart Holding in 2009

and CJ Components in 2005.

US buyout firm KKR & Co. LP invested $50 Mn in

TVS Logistics in April last year. Goldman Sachs

Group Inc., which had provided initial funding of

R100 Cr in 2008, pumped in another R26.6 Cr

last year.


Industry | Transport/ Logistics



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Deal Concise

Healthcare Global acquires majority stake in BACC

HealthCare Global Enterprises (HCG) has acquired

a majority stake in Bangalore Assisted Conception

Centre (BACC), a leading provider of fertility care

for undisclosed amount, BS stated. Post deal,

BACC will be known as Milann The Fertility

Center. The new entity will now expand into many

towns and cities, including Tier-II and Tier-IIItowns.

Founded in 1990 by Kamini A. Rao, BACC operates

four fertility centers across Bangalore. In addition

to an accredited fellowship program, Milann also

runs CREST, the only training centre for

embryologists and fertility specialists in India. It

has treated over 15,000 patients.

Recently in March, Temasek Holdings invested

R140 Cr in HCG which gave exit to Evolvence

Capital. It had plans to double its network to 50

centers in India and Africa and also enter themulti-specialty space with the new funds.

Founded in 1989, Bangalore-based HCG owns

and manages a network of cancer treatment

centers in India. It focuses on cancer care,

diagnostics, imaging, research, and clinical

trials services.

It has more than 23 cancer centers across India

and in Africa providing cancer care treatment,

imaging, laboratory services, clinical trials and

research services..





25/32

Deal Concise

Sumitomo Rubber set to take over Apollo Tyres South Africa

Sumitomo Rubber Industries is set to take over

Apollo Tyres South Africa including the Ladysmith

Tyre plant and Dunlop Brand rights in Africa, BSE

states. The acquisition would cost Sumitomo $60

Mn and the deal is expected to conclude in next

four months.

Sumitomo Rubber Industries is a Japan basedmanufacturer of automotive tyres and industrial

rubber products. It has factories in Japan, China,

Indonesia, Malaysia, Vietnam, Thailand and Brazil.

Apollo Tyres had acquired the Durban, South Africa

headquartered Dunlop Tyres International in 2006,

and renamed it Apollo Tyres South Africa Pty Ltd.

With this deal, Sumitomo will get a manufacturing

location on the continent and control over the

Dunlop brand, which it can also use in many other

countries across the world.

Apollo holds the rights to sell the Dunlop brandin 32 countries of Africa. The company will retain

the Durban plant, through the Holding Company

of ATSA, which manufactures truck and bus

radial tyres and off highway tyres and all

employees attached to it. It will continue to sell

the Apollo, Vredestein and Regal brand tyres in

Africa while focusing on creating andstrengthening its own sales and distribution

network across the continent. Apollo is looking

forward to expand its domestic and international

operation and has allotted R500 Cr to it.


Industry | Airlines /Autos



26/32

Deal Concise

Cigniti Technologies acquires Gallop Solutions

Cigniti Technologies has entered into an

agreement for acquisition of Gallop group

companies which are engaged in software testing

activities, BSE filing states. The Gallop group

companies include India based Gallop Solutions

and USA based Gallop Solutions Inc. The

acquisition will enable Cigniti Tech to augmenttesting capabilities and bring in new clients and

geographical areas. Akasam Consulting was the

sole advisor to the transaction.

Gallop Solution is engaged in providing software

solution to the enterprises. The company focuses

on providing software ALM solutions to the HPsoftware. It offers various services like verification

and validation, application development, oracle

fusion and erp solutions, strategic staffing, global

sourcing and Microsoft share point.

Recently in March, Cigniti Technologies

announced its plan to raise R54 Cr eitherthrough preferential allotment to existing

shareholders or through a private equity

placement to fuel its inorganic growth plans.

In 2011, Chakkilam Infotech acquired American

firm - Cigniti Inc and rebranded itself as Cigniti

Technologies Limited. Cigniti is an IndependentSoftware Testing Services Company. Cigniti has

expertise and proprietary frameworks to

accelerate testing for improved time to market

for its clients. It has global delivery centers in

US, India, London, and Colombia.





27/32

Deal Concise

Micro Technologies to divest stake in two Subsidiaries

Micro Technologies India is planning to divest

stake in two subsidiaries in order to raise R 300 Cr

to cut down its debt, BL stated.

The proceeds of the stake sale would be used to

bring down overall debt of R300 Cr and unlock

value in group companies.

In 2011, Micro Tech raised R20 Cr from HT Media

Limited by issuing 5 lakh CCD's for R400 each,while in 2007 Bennett Coleman & Co Ltd invested

R6.26 Cr by subscribing to 250,000 shares at

R250.8 per share. As on March 2013, HT Media

holds 6.92% stake and BCCL holds 1.47%.

The company has plans to divest 35% stake in its

Micro Secure Solutions and Micro Retail andcurrently in talks with PE players. Micro tech plans

to raises R150 Cr each in Micro Secure and Micro

Retail. Further, the company plans to list both the

units in next three to five year.

Micro Secure Solutions is engaged in range of

Premises security products for commercial &

residential premises and caters to diversesectors such as Retail, Corporate, Household,

PSUs in India and across Middle East. Micro

Retail is engaged in the area of retailing the

range of Electronic Security, Software and

messaging Products for vehicle, premises, and

other assets.

Founded in 1992, Micro Technologies offers

security devices, life style and support systems

and web-based software. It has more than 350

security products across various segments with

presence in over 30 countries.





28/32

Deal Concise

Walmart to buy 49% stake in Cedar Support

Walmart Stores will soon convert CCDs it owns in

Cedar Support Service, the holding company for

Bharti Retail in equity shares. With this conversion

the retail company would have 49% stake in Cedar

Support Service worth R455.8 Cr.

These CCDs which it had purchased in March 2010would be converted to 42.6 Cr equity shares by

September. The conversion will help Cedar infuse

fresh equity in its step-down subsidiary, Bharti

Retail, which has plans to nearly triple its retail

stores to 638 by December 2018, from 228 and

will roll out 104 stores by December 2013.

Bharti Retail plans to raise R1,085 Cr as equity and

R2,782 Cr debt over six years to fund its expansion

plans.

Bharti Retail operates through 'easyday Market'

'easyday Hyper'. Presently, there are over 220

stores in cities across Punjab, Haryana, Uttar

Pradesh, Uttarakhand, Madhya Pradesh,

Rajasthan, Himachal Pradesh, Chhattisgarh,

New Delhi, Jammu & Kashmir, Maharashtra,

Karnataka and Andhra Pradesh. The stores

comprise over 190 easyday Supermarkets and

about 23 easyday Market and easyday Hyper

stores.





29/32

Deal Concise

Rajapalayam Mills plans to sell its Biotech Unit

Rajapalayam Mills is planning to sell, lease or

dispose the assets of the tissue culture division,

Shri Ramco Biotech in order to focus on core

business - Textile, BSE states.

Established in 1995, Shri Ramco Biotech produces

tissue culture plants. It has set up a lab in

Bangalore, with a built-up area of 2,600 Sq.m and

a capacity to deliver 5 Mn plants p.a. The unit also

produces Anthurium, Banana, Gerbera and

Orchids for the domestic market. Twelve acres of

verdant fertile land surrounding the lab is used of

green house hardening facility, R&D trials and

demonstration.

Rajapalayam Mills Ltd. was established in 1938,

with 6800 Spindles imported from England.

Rajapalayam Mills today produces 11 Mn kgs of

yarn per year, employs more than 1000 workers.

At present it has 1,21,856 Spindles (including

56,080 compact spinning spindles, 11568 Eli-Twist

spindles and 2400 Slub Yarn Spindles) and also has

2000 Rotors in Rajapalaiyam and around 2000

Rotors in Andhra Pradesh.

It export 80% of its spinning capacity to the highly

quality-conscious markets like Japan and also to

other countries like Korea, China, Hong Kong,

Malaysia, Indonesia, Thailand, Pakistan, Dubai,

Bahrain, Italy and Spain etc.Its annual net profit has grown from R1.32 Cr in

the year ending March12 to R23.77 Cr in the year

ending March13. Its annual sales have witnessed

a growth of 12.54% from R298.80 to R336.28 Cr in

the period.





30/32

Deal Concise

GIC May acquire Lloyds Syndicate Member

India's national reinsurer General Insurance

Corporation plans to acquire a Lloyds Syndicate

member to meet its goal of being among the top

five reinsurers globally, TOI states.

Ashok Roy, Chairman GIC believes organic growth

would take many years and acquisitions were

under the company's consideration. Being a

member at Lloyds, it would provide the company

with the platform to operate in 60 countries

across the world.

Lloyds is the specialist insurance market. Unlike

many other insurance brands, Lloyd's is not a

company, is more like an insurance exchange; it's a

market where members join together assyndicates to insure risks. The risk Llyods cover

can be grouped into seven main categories:

casualty, property, marine energy, motor, aviation

and reinsurance.

Lloyds accredits companies that individually

underwrite insurance business from all over the

world.

GIC of India (GIC Re) is a reinsurance company

with over three decades of experience with

branches in London, Dubai and Kula Lumpur.

GIC Re has been ranked 15th among

international reinsurers by S&P.

Besides expanding in London, GIC is also lookingto expand its aviation reinsurance business in

the US.The company is planning to send

representatives to an aviation reinsurance event

in Bermuda to tap the US market


Industry | Airlines/Autos



31/32

Deal Concise

Concert Care acquire Novel Infosolutions

Concert Care Healthcare Solutions, a Birmingham

based healthcare software provider has acquired

Novel Infosolutions in Chennai.

With this acquisition, Concert Care will receive the

roughly eight or nine clients that Novel has in

Australia, Sweden and the U.S. Novel Infosolutions

15 member team will be added to Concert Care,

Business Journal states.

Novel Infosolutions is a specialized provider of

software services and solutions for process

automation to all Industries. It is a full service

provider, offering products, custom application

development, testing, operations support etc. Itspecialize in application integration, web

development, web-enabled solutions, groupware

solutions, mobile solutions, and business process

consulting to help build secure intranet, extranet,

and internet business applications.

Founded in 2012 by Tanveer Patel, Concert Care

is an international Healthcare services firm that

provides business solutions for healthcare

organizations. It helps medical groups increasetheir net revenue, enhance physician

satisfaction, take full advantage of Health IT and

strengthen their strategic position. Concert Care

plans two more acquisition this year





32/32

www.indelglobal.com

INDEL Advisors LLPINDEL is a global business advisory and consulting firm led by experienced professionals withentrepreneurial skills dedicated to serve middle-market companies in their Tax, Audit, Legal,

Transaction and Advisory services. 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. At INDEL we live through our people. INDEL is about a collective vision with

a common goal that allow its people to stand together. Founded in 2009, the firm is

headquartered in New Delhi and has offices located in major financial centers.

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Deal Communique June Volume-01

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