PE l VC l M&A

April 28 May 04 2013

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

Deal Round up

Private Equity
S.No. 1 2 3 4 6 7 Announcement Date 2-May-13 2-May-13 2-May-13 2-May-13 30-Apr-13 29-Apr-13 Industry Banking & Finance Telecom Health care Cleantech Banking & Finance Cleantech Company Tata Capital PE Fund Bharti Airtel Medanta - The Medicity NSL Renewable Power Formation 8 NSL Renewable Power Pvt. Ltd Investor FII from North America, Asia & Middle East undiscliosed undiscliosed The Asian Development Bank Spice Global DEG, Proparco and others Deal Value (US$) 600 mn 1208.2 Mn 150 Mn 30 Mn undisclosed 60 Mn

Venture Capital
S.No. 1 5 8 Announcement Date 3-May-13 2-May-13 29-Apr-13 Industry Technology Retail Technology Company Bluegape Voylla.com Homeshikari.com Investor Aniket Khera, Rahul Bhatia Snow Leopard Technology Ventures undiscliosed Deal Value (US$) undisclosed 0.5Mn undisclosed

Merger & Acquisition

S.No. 1 2 3 4 Announcement Date 3-May-13 30-Apr-13 30-Apr-13 29-Apr-13 Industry Healthcare Technology Real Estate Transport & Logistics Company Smith & Nephew Plc Nucleus Software Sahara Group DTDC Courier & Cargo Ltd Investor Adler Mediequip Private Limited & Sushrut Surgicals Private Limited undiscliosed BPL Nikkos Logistics Pvt. Ltd Deal Value (US$) undisclosed undisclosed 27.7 Mn undisclosed

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Tata Capital raises funds from Foreign Investors Bharti Airtel plans to raise 6500 cr.

Avenue Capital may exit Medanta-The Medicity NSL Renewable Power raises US$ 30Mn. from The Asian Development Bank Spice Global invests in Formation 8 DEG, Proparco and others invest in NSL Renewable Power

Deal Concise Tata Capital raises funds from Foreign Investors

Announcement Date | 2 May 2013 Industry | Banking & Finance

Tata Capital has closed its private equity fund, Tata Opportunities Fund, after raising from marquee global investors around US$600 million, making it one of the largest debut private equity funds targeted at India. The fund involves Limited Partners that are global institutional investors from North America, Asia and West Asia, and span sovereign investors, financial institutions, global corporate and high net-worth families. The fund is sector and stage agnostic and provides longterm investors the ability to participate in Indian private equity investment opportunities.

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Deal Concise Bharti Airtel plans to raise 6500 cr

Announcement Date | 2 May 2013 Industry | Telecom

Bharti Airtel is planning to raising up to R 6,500 crore by issuing 20 crore fresh shares to investors abroad. The funds would be used to part-retire its Rs 65,000-crore consolidated debt and finance capital expenditure (may be used for renewal of licenses in India expiring in 2014 and to reduce its African debt) The promoters currently own 68.5 % stake in the company. With the issue of fresh equity, the promoter stake would come down marginally. Bharti is in talks with Standard Chartered Bank and Citibank, among others, to manage the issue. Bharti, which recently went to the market to raise funds via dollar bonds, has raised about $1.5 bn since early this year. The money was raised by its offshore arm, based in The Netherlands. Its second $500-million bond issue in March had attracted $2-billion bids from about 140 global investors. The company will also have to sell shares in its tower arm, Bharti Infratel before June to meet the SEBI public-shareholding norm.

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Deal Concise Avenue Capital may exit Medanta-The Medicity

Naresh Trehan lead Medanta - The Medicity is looking into options to provide an exit to Avenue Capital Group LLC. which holds 27.96% stake in the company. Medanta - The Medicity is owned by Global Healthcare, in which Trehan owns 54.84% holding and construction firm Punj Lloyd Ltd owns a 17.2% stake. There would be two local and one global investment bank on this deal which is pegged around $150 Mn, including returns worth nearly $100 Mn for Avenue Capital. Medanta is a multi-super specialty hospital located in Gurgaon . It is spread across 43 acres and includes a research centre, medical and nursing school. It has 1,250 beds and over 350

Announcement Date | 2 May 2013 Industry | Healthcare

critical-care beds with 45 operation theatres catering to more than 20 specialties. New York based Avenue Capital is a global investment firm focusing on distressed securities and private equity with regional teams focusing on opportunities in the United States, Europe and Asia.

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Deal Concise NSL Renewable Power raises US$ 30Mn. from The Asian Development Bank (ADB)
ADB will invest US$30 Mn. in NSL Renewable Power Private Limited to implement the 100-Mw Tidong run-of-river hydro power project in Himachal Pradesh and the 75 Mw Chilarwadi wind project in Maharashtra. This is ADBs first equity investment in a private sector renewable power generation company in India and the first private assistance to Indias hydro power sector also. Recently, the company raised $60 Mn from DEG, Entwicklungsgesellschaft from Germany, Proparco from France, Asia Clean Energy Ltd., a South Korean PE fund, GS Power Co. Ltd,. also from South Korea, IFC and FE Clean Energy. NSL Renewable Power currently has 185 MW of installed capacity, which include 148 MW of wind
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Announcement Date | 2 May 2013 Industry | Cleantech

power, 20 MW of solar power, 12 MW of biomass power and 5 MW of hydel power, with an additional 336 megawatts of renewable power under construction or in advanced development. ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth and regional integration.

Deal Concise Spice Global invests in Formation 8

Announcement Date | 30 April 2013 Industry | Banking & Finance

Spice Global has made an undisclosed amount of investment in Formation 8, a Silicon Valley based VC fund. The investment will help Spice Global identify early stage companies for investments. Formation8 will offer Spice Global the market knowledge, deployment expertise, sales channels, and relationships needed to expand into and thrive in the Si2i region. Spice Global is $2 Bn conglomerate with presence in various verticals including mobility, finance and entertainment. It includes businesses like Si2i Mobility (holding co. of Si2i Limited and S-Mobility Limited), Spice Studios, Wall Street Finance Limited and Paper Plus.

Formation 8 is a VC firm that provides financial and strategic capital to early growth smart Spice Global has been on an investment spree. It enterprise and energy technology companies in made an investment of R 400 crore in a new United States, China, Korea and Singapore. healthcare foray to launch multi-speciality Saket City Hospital in the capital

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Deal Concise DEG, Proparco and others invest in NSL Renewable Power
NSL Renewable Power Pvt. Ltd. has raised $60 Mn from a group of investors which include development finance institutions, DEG Deutsche Investitions- und Entwicklungsgesellschaft from Germany and Proparco from France, Asia Clean Energy Ltd., a South Korean PE fund and GS Power Co. Ltd,. also from South Korea. Existing investors, IFC and FE Clean Energy also participated in this round. IFC was also involved in providing a loan of $19 Mn to its subsidiary, NSL Wind Power Company Satara to part finance a project. FE Clean Energy Group had invested $40 Mn in the NSL Renewable in 2011. NSL Renewable Power intends to set up a wind power project of 75 MW in Chilarwadi village of

Announcement Date | 29 April 2013 Industry | Cleantech

Man Tehsil, Satara District of Maharashtra through a subsidiary NSL Wind Power. The company is part of the NSL Group, which has under it other notable companies like Nuziveedu Seeds Pvt. Ltd. and Regen Powertech Pvt. Ltd The Project will be implemented in two phases with 25.5 Mw to be implemented in the first phase. Construction period for each phase is expected to be 6 months.

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Bluegape Recieves Seed Funding Snow Leopard Technology Ventures invests in Voylla.com Homeshikari.com to raise funds for expansion

Deal Concise Bluegape recieves Seed Funding

New Delhi based Bluegape, an online fan merchandising store has raised a seed round from Aniket Khera, Rahul Bhatia and one more internet entrepreneur. The funding will be used to sign up with more brands for their fan merchandising rights and also improving on logistics & warehousing. Bluegape company was started in August 2011 by Sahil Baghla and Ayush Varshney. Bluegape is a platform for people to find and make customized T-Shirts, Mugs, Laptop Skins, Cushion Covers and many more. TLabs, the startup accelerator launched by Times Internet Group had invested a sum of R10 Lacs as seed funding to scale up their business.

Announcement Date | 3 May 2013 Industry | Technology

That money was used to launch more customized products like T-Shirts, Mugs, Laptop Skins, Cushion Covers and more. The team of Bluegape aspires to cross a figure of 5000 orders a day in online sales while in offline retail stores, the company is hoping to have independent 1000+ stores by the end of 2013.

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Deal Concise Snow Leopard Technology Ventures invests in Voylla.com

Snow Leopard Technology Ventures has invested R2.5 Cr in online designer jewellery and accessories portal Voylla.com. As a part of deal, Chris Kolenaty - Partner, Snow Leopard Technology Ventures, will join on Board of Directors of Voylla. The funds raised will be used for operations expansion and marketing spend. In 2012, Voylla raised angel investment from individual investor. Founded by Vishwas Shringi and Raj Uparkar, Voylla Retail is an online retailer that offers exclusive designer apparel, jewellery, and accessories with affordable pricing by partnering with esteemed designers.

Announcement Date | 2 May 2013 Industry | Retails

It sells semi-precious, precious metal, and gem stone jewellery and accessories for women. Snow Leopard Technology Ventures is a venture fund focused on being the partner to exceptional management teams. Snow Leopard provides early stage capital to build market leading internet and technology companies in India and found synergies with Voylla.

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Deal Concise Homeshikari.com to raise funds for expansion

Announcement Date | 29 April 2013 Industry | Technology

TTK Group's real estate ecommerce portal Homeshikari.com is planning to raise funds in order to expand into major cities. HomeShikari is an interactive platform to help people searching for homes to buy or rent, make informed choices based on their specific needs and preferences and also help home-owners showcase their residential properties to the right target audience. The company has 60-70 thousand unique visitors a month and get about 150- 200 individual listings from consumers every month; while there are close to 300 builders also list on the site.

HomeShikari is a division of TTK Services Private Limited, a member of the TTK Group of companies. Established in the year 2000, TTK services it has already two successfully running businesses, YourManInIndia.com and GetFriday.

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Smith & Nephew to buy Adler Mediequip & Sushrut Surgicals Nucleus Software plans Acquisitions Sahara buys BPL-Defaulted Land piece in South India DTDC entered into JV with Nikkos Logistics

Deal Concise Smith & Nephew to buy Adler Mediequip & Sushrut Surgicals
Smith & Nephew Plc, the London listed firm will acquire Adler Mediequip Private Limited and with it, the brands and assets of Sushrut Surgicals Private Limited, producer of orthopaedic trauma products. Sushrut Surgicals Pvt. Ltd was formed in 1973 and Adler Mediequip, was set up in 1993 with the objective of building on Sushruts experience in orthopaedic device business and bringing world-class orthopaedic medical devices to India. At present, Adler Mediequip is the exclusive manufacturing arm for the group's operations, with Sushrut Surgicals being the marketing arm. Its current portfolio of devices can be divided into three broad clinical areas viz. traumatology, spinal surgery and reconstructive orthopaedic surgery. Adlers 116 employees and Sushruts 50 employees (which include sales force that directly supports the Adler business) will also transfer as part of the arrangement.

Announcement Date | 3 May 2013 Industry | Healthcare

Smith & Nephew is engaged in global medical technology business with leadership positions in Orthopaedic Reconstruction, Advanced Wound Management, Sports Medicine and Trauma with presence in more than 90 countries. The acquisition of trauma business is a part Smith & Nephews expansion of its woundcare and minimally invasive surgery offerings into emerging markets and will give a well-established platform to provide and develop products for the mid-tier market in India and for export as well as entry point to India's trauma segment.

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Deal Concise Nucleus Software plans acquisitions

Nucleus Software Exports is planning for two acquisitions over the next one year in order to strengthen its offering for the banking and financial services. The company is looking at acquiring companies with intellectual property in the financial services area, which will enable Nucleus to deal with loan origination and loan servicing applications and also looking at acquiring players that have capabilities in the mobile banking space, BL stated. Nucleus Software provides software solutions for banks and financial institutions globally, specially in the retail lending and cash management divisions.

Announcement Date | 30 April 2013 Industry | Technology

It offers services to various banking and financial companies in 50 countries including the US, Europe, Asia Pacific and Africa with its flagship product called FinnOne Currently, it has 1500 employees and further plans to hire 250 people this financial year. The firm expanded its global foot print and entered into new major financial hubs of South Africa and Switzerland.

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Deal Concise Sahara Buys BPL-Defaulted land piece in South India

The Sahara Group has acquired a 25-acre plot in Bangalore (in the Whitefield region) previously owned by electronic goods maker BPL for R149 Cr.

Announcement Date | 30 April 2013 Industry | Real Estate

The land was bought from Asset Reconstruction Company of India (Arcil), which had got it under the SARFAESI Act from BPL lenders (banks and FIs), post default by BPL some years back. The Act allows banks and FIs to auction comprising of a hotel and an office tower on the properties when borrowers default and in turn land piece. reduce their NPAs. BS Appliances and BS Refrigerators, both BPL Bidding terms mandate the buyer to only make group companies, owned the land. commercial use of the land and Sahara is planning a mixed-use commercial building

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Deal Concise DTDC entered into JV with Nikkos Logistics

Courier and cargo company, DTDC has acquired majority stake in Nikkos Logistics Pvt. Ltd., based in South India. DTDC Courier & Cargo Ltd. will own 70% and Nikkos will have the balance 30% in the new JV entity In January this year, French government owned postal services company GeoPost was planning to acquire 40% stake in DTDC Courier & Cargo, giving an exit route to Reliance Capital, which had invested R70 Cr in the company in 2006. DTDC had last year made acquisitions in Eurostar Express in Dubai, Fast World Express of Australia and Kuwait Bayarek General Trading & Contracting Co. W.I.I. in Kuwait. Also a previous attempt to acquire 70% stake in Nikkos in 2011 was made by then Subhkam Ventures and Enam Securities-backed Aqua Logistics.

Announcement Date | 29 April 2013 Industry | Transport & Logistics

Nikkos Logistics is based Bangalore and was set up in 2011. It is involved in the business of complete logistics services by land, sea, air or by any other means, supply chain management service providers. Currently it caters to the diverse industry-wide client categories ranging from pharma, construction, aviation, food, agriculture and others. DTDC has a delivery network covering close to 10,000 Pincodes and international network spans over 240 global destinations supported by its own offices in US, UK, Dubai, Singapore, Canada, Bangladesh, Hongkong, Srilanka, Nepal and Turkey.

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INDEL Advisors LLP

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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.