NMIMS MBA Capital Markets presents the one Stop magazine for all about the latest in Indian Capital Markets News and analysis. For more information, visit us at: http://www.investocraft.com/
September 16, 2012
September 16, 2012 INVESTOCRAFT CIRCUIT BREAKER
MOVEMENTS IN EQUITY MARKETS 3.50% 3.00%
BSE Sensex
2.50%
NSE Nifty
2.00% 1.50%
Dow
1.00%
NASDAQ
0.50%
Nikkei
0.00% -0.50%
Mon
Tue
Wed
Thur
Fri
Hang Seng
-1.00% Indian Markets: It was a splendid week for the Indian Equity Markets. The BSE and the Nifty scaled 7th Month Highs on the backdrop of fuel price revision and expectation of reforms in the coming days. Globally too, things have improved considerably with Europe, China and the US unleashing fresh stimulus to spur growth. Markets for the week cheered the stimulus measures by fed with splendid rally of more than 4% and closed convincingly above 5550 mark th
The BSE Sensex was up 4.41% W-o-W to end at 18464.27 points as on Friday, 14 September 2012 The NSE Nifty was up 4.41% W-o-W to end at 5577.65 points as on Friday, 14th September 2012. All sectoral indices, except Healthcare ended in the green. Equity Market Mon
BSE Sensex
NSE Nifty
Dow
NASDAQ
Nikkei
17,766.78
5,363.45
13,254.29
3,066.96
8,869.37
Hang Seng 19,827.17
Tue
17,852.95
5,390.00
13,323.36
3,075.06
8,807.38
19,857.88
Wed
18,000.03
5,416.70
13,333.35
3,069.27
8,959.96
20,075.39
Thur
18,021.16
5,435.35
13,539.86
3,135.81
8,995.15
20,047.63
Fri
18,464.27
5,577.65
13,593.37
3,136.42
9,159.39
20,629.70
Asian Markets: Other Key Asian indices too rallied in the week to close 2% to 4.5% higher W-o-W.
th
The Hang Seng was up 4.18% W-o-W as on Friday, 14 September 2012 The Nikkei was up 3.24% W-o-W as on Friday, 14th September 2012
US Markets:
The Dow was up 2.15% W-o-W as on Friday,14th September 2012. The Nasdaq Composite was up 2.26% W-o-W as on Friday, 14th September 2012.
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September 16, 2012 INVESTOCRAFT CIRCUIT BREAKER
FII AND DII DATA Rs (Crores)
1000 800 600 400 200 0 -200 -400 -600 -800
FII (Debt) Mon
Tue
Wed
Thur
Fri
-318.32
-365.8
-55.76
-156.05
-688
FII (Debt)
164.6
-139.3
257.5
142.1
63.1
FII (Equity)
515.5
727
556.3
580
407.6
DII
DII
FII (Equity)
FII were Net Buyers of 2786.40 crores in the equity markets FII were Net Buyers of 488.00 crores in the debt markets DII were Net Sellers of Rs. 1583.93 crores
COMMODITIES 2.50% 2.00% 1.50% 1.00% Crude Oil
0.50%
Gold
0.00% -0.50%
Mon
Tues
Wed
Thurs
Fri
USD/INR
-1.00% -1.50% -2.00%
Brent Crude was up 2.10% and closed at $116.7/barrel Gold was flat to close at Rs 31899/10 gms The Rupee gained 1.35% to the dollar to close at 54.26
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September 16, 2012 INVESTOCRAFT CIRCUIT BREAKER
Currency Movements 3.00% 2.00% 1.00% 0.00% -1.00%
Monday
Tuesday
Wednesday
Thursday
Friday
-2.00% -3.00% USD/INR
EUR/USD
GBP/USD
USD/JPY
Monday
Tuesday
Wednesday
Thursday
Friday
USD/INR
54.989
55.2056
55.2416
55.1227
54.2461
EUR/USD
1.28
1.28
1.28
1.29
1.29
GBP/USD
1.60
1.60
1.60
1.61
1.6118633
USD/JPY
78.22
78.25
78.04
77.85
77.65
LIBOR Data LIBOR
12-Sep
Month Ago
Year Ago
1 Mnth
0.23
0.24
0.23
3 Mnth
0.4
0.44
0.35
6 Mnth
0.69
0.72
0.5
1 year
1.02
1.05
0.82
OTHER IMPORTANT INDICATORS NMIMS, Mumbai | MBA Capital Markets
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September 16, 2012 INVESTOCRAFT CIRCUIT BREAKER Week Ended 01 Sep
Week Ended 07th Sep
2,90,461.60
2,92,040.20
CRR
4.75%
4.75%
SLR
0.23
0.23
9.00%
9.00%
Forex
Bank Rate
July
August
6.87%
7.55%
Core Inflation
5.58%
6.14%
Food Inflation
10.06%
9.14%
WPI
G-SEC DATA AND YIELDS Indian GSecs 1 Yr
07-Sep
3 Yrs
8.01%
5 Yrs
8.21%
10 Yrs
8.18%
7.88%
MARKET FORECAST
Markets may react sharply to the reforms introduced by the Government for Foreign Direct Investments. Sectors to look for would be Aviation, Retail and Media RBI policy meet on 17th September is an important event to look forward to Markets may continue their upward movement due to positive sentiments building up on expected reforms.
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PE DEALS
EVERSTONE CAPITAL IS PLANNING INVEST IN HINDUJA FINANCE Sector: Banking/Financial Services
Limited: It is a subsidiary of Tata Sons and is committed towards developing the nation by building world-class real estate and infrastructure with main focus on real estate opportunities, airports, urban infrastructure, special economic zones, roads, expressways, bridges and logistics parks. TO
Business of Hinduja Leyland Finance: Hinduja Leyland finance is a conglomerate of "HINDUJA GROUP" and provides customized finance for the widest range of utility vehicles, tractors, cars, two wheelers and other commercial vehicles, focusing on the semi-urban and rural sector. It is promoted by Ashok Leyland Limited for providing fund support to AL vehicles. Business of Everstone Capital: Everstone Capital is an India focused investor with dedicated private equity and real estate funds. Funding: Everstone Capital is planning to invest Rs.150Cr. in Hinduja for 10% stake in the company. According to ET, Temasek Holdings and AIF Capital are also planning to invest in the company. Rationale: The Company aims to raise its AUM to $1Bn this fiscal and has appointed Spark Capital to raise the funds.
TATA REALTY PLANS TO RAISE FUNDS TO SET UP MALL CHAIN Sector: Real Estate Business of Tata Realty and Infrastructure
Funding: The Company plans to raise around R300 Cr of domestic origin to invest in malls and a foreign fund of approx. $500 Mn for creating 'FDIcomplaint retail assets'. It is also planning to invest in residential development, roads, logistics and hotels. Rationale: The Company aims to raise funds for acquisition and creation of malls to form a small chain.
CLSA PARTNERS INVESTS IN EARTH WATER Sector: Cleantech Business of CLSA Capital Partners: CLSA Capital Partners is the alternative asset management arm of CLSA Asia-Pacific Markets, Asia's leading independent brokerage and investment group. Business of Earth Water Group: It is a group which was established to addresses key issues like Infrastructure Development, Quality of Water, Water Conservation and Environmental Protection and provides technological and business innovation in the area of water management to bridge the gap between supply and demand of water. Funding & Rationale: CLSA Capital Partners has invested $15Mn in Earth Water Group for 20% stake in the company. Rationale: The funds will be used to strengthen existing
September 16, 2012 INVESTOCRAFT CIRCUIT BREAKER core initiatives and for acquiring attractive and complementary business.
FII STAKE BUY TRIGGERS BIOTEK DE-LISTING
TRANSGENE
Funding: It is planning to raise around $500Mn. Rationale: The Company is planning to raise fund for expansion and to pay debt of its some companies. According to Bloomberg, it may also use the funds for satellite television service Dish TV, cable operator Siti Cable Network and schools operator Zee Learn.
Sector: Healthcare Business of Transgene Biotek Limited: It is one of the first true Biotechnology companies in India and comprises of life manufacturing, selling diagnostic kits, drug delivery, oncology and biotech research. Funding: Transgene Biotek is about to divest an undisclosed amount of stake to a FII and therefore will be delisted from all the Indian stock exchanges. Rationale: According to MD K.K.Rao, this action is triggered by a bid from an FII to join hands with the company on a long-term basis to support the drug discovery activity in exchange for equity participation and certain rewards on drug licensing or sale.
ESSEL GROUP IS PLANNING TO RAISE FUNDS Sector: Media Business of Essel Group: Essel Group is a leading business conglomerate having diverse business presence across media, entertainment, packaging, infrastructure, education, precious metals and technology sectors
SIVA TO EXIT TATA TELE SERVICES Sector: Retail/Textile Business of Tata Teleservices: Tata Teleservices Limited (TTL) spearheads the Tata Group's presence in the telecom sector with a bouquet of telephony services encompassing the GSM, CDMA and 3G platforms, offering Mobile Services, Wireless Desktop Phones, Public Booth Telephony and Wireline Data Services across one unified and integrated brand-Tata DOCOMO. About Chinnakannan Sivasankaran: He is the Chairman of Siva Group (Sterling group), Siva Industries & Holdings and Siva Ventures having a net worth of more than $4 Bn. He is accounted for the personal computer revolution in India in the 80s during which he introduced the PCs at one third the cost and was also vital to the introduction of Wi-max and DSL broadband technologies in India. Rationale: Sivasankaran is planning to sell his stake in Tata Teleservices to raise funds to put them in attractive/undervalued ventures during the slowdown period.
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September 16, 2012 INVESTOCRAFT CIRCUIT BREAKER second phase of the residential project in Bangalore. MOTILAL OSWAL PE TO LAUNCH REALTY FUND Sector: Real Estate Business of Motilal Oswal PE: It is the PE arm of Motilal Oswal Financial Services Limited (“MOFSL”) and provides financial, strategic and operational assistance to emerging companies in the Mid Market (“MMEs”) space and Real Estate sector. Funding & Rationale: It is planning to raise around Rs.500-600Cr for its new fund and will invest in residential projects in large cities.
RELIANCE CAPITAL INVESTS IN CENTURY REAL ESTATE Sector: Real Estate Business of Reliance Capital: Reliance Capital Limited is a financial services company and part of a Reliance Anil Dhirubhai Ambani Group. It has interests in asset management, mutual funds, life & general insurance, private equity and proprietary investments, stock broking, depository services & financial products, consumer finance and other financial services. Business of Century Real Estate: It is an integrated full-service real estate development company headquartered in Bangalore and its development portfolio is more than 10 Mn sq.ft comprising hotels, office buildings, residences, educational institutions and integrated townships. Funding: Reliance Capital invested Rs.40Cr. in Century Real Estate. Rationale: The funds will be utilised for development of the
ASK PE ACQUIRES STAKE DEVELOPERS’ PROJECT
IN
MANTRI
Sector: Real Estate Business of ASK Property Investment Advisors Private Limited: ASK Property Investment Advisors (ASK PIA) is a venture of the ASK group set up to manage and advise real estate dedicated funds. Business of Mantri Developers Limited: It is one of India's leading real estate developers building world class residential properties, IT parks, shopping complexes, commercial buildings and educational institutions. Funding: ET states that the fund acquired 50% in the project and the project is expected to fetch revenues worth R450 Cr. The PE firm also plans to come up with a $200 Mn (R1100 Cr) international real estate fund next month with a target for initial closure by March 2013 and final closure in the 12 months following that.
SONATA FINANCE GETS SERIES D FUNDS FROM CREATION INVESTMENTS Sector: Banking/Financial Services
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September 16, 2012 INVESTOCRAFT CIRCUIT BREAKER Business of Sonata Finance Private Limited: Sonata Finance operates as a micro-finance company in Allahabad. It undertakes group lending having a strength of around 10-20 women members and accounts them as the ultimate guarantor of each of its members. Business of Creation Investments: Creation Investments is an alternate investment management company which aims to fight global poverty through investments in businesses promoting economic development. Funding: According to yourstory.in, Sonata Finance Private Limited of Allahabad raised R35 Cr from a consortium of investors led by Creation Investments. Unitus Capital was the financial advisor and arranger to Sonata and its shareholders.
Funding: Peepul Capital LLC may invest R500-1000 Cr in Deccan Chronicle Holdings Limited. The PE firm mentioned that the investment will be made from the $700 Mn fund (of which $100 Mn is their own money) and added that it would be in combination from the domestic and foreign currencies.
AVIGO INFUSES MORE FUNDS IN SRL Sector: Healthcare Business of Avigo Capital Partners: It is an Indian private equity fund manager which focuses on Private Equity Investments in the SME sector in India. It has a cumulative experience of over 200 years in Private Equity, Investment/Corporate Banking, Consulting, and Operations.
PEEPUL CAPITAL MAY INVEST IN DECCAN CHRONICLE
Business of Super Religare Laboratories: It is a unit of Fortis Healthcare and is the veritable pioneer of medical diagnostics in India. It has been imbued with a mission to deliver Gold Standard Diagnostic services, both in the field of radiology and pathology.
Sector: Media
Funding:
Business of Peepul Capital: Peepul Capital LLC is an Institutional Investor that partners with companies and helps them grow fundamentally stronger and better through its extensive operating and entrepreneurial experience. Between its three Funds, it manages a corpus of approximately $700Mn of growthoriented investments that are India-centric.
Avigo is increasing its stake from 9.27% in SRL by pumping in $4 million.
Business of Deccan Chronicle Holdings Limited: DCHL is the publisher of largest circulated English Newspaper in South India – ‘Deccan Chronicle’ with a circulation of over 1.45 Million Copies per day across India.
THYROCARE IN TALKS WITH NORWEST VENTURE PARTNERS TO RAISE FUNDS
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September 16, 2012 INVESTOCRAFT CIRCUIT BREAKER Sector: Healthcare Business of Thyrocare Technologies Limited: Thyrocare Technologies Limited is the industry leader, trend setter and innovators in Indian Diagnostic industry. Its laboratory is certified ISO 9001-2008, accredited by NABL (National Accreditation Board for Testing and Calibration Laboratories) and to keep it ready to take on the global market, in 2007, it has been accredited by the College of American Pathologists (CAP), a global accrediting organisation. Business of Norwest Venture Partners: NVP is a global venture and growth equity investment firm. It makes early to late stage venture and growth equity investments across a wide range of sectors including: information technology, business services, financial services, infrastructure, technology enabled services and consumer. Funding: According to sources, Thyrocare is planning to sell its 10% stake which is going to be bought up by Norwest Venture Capital.
Rationale: The funds will be used to set up a 50 MW solar power project in Rajasthan, according to BS. This January, Welspun signed a power purchase agreement (PPA) with NTPC Vidyut Vyapar Nigam. Welspun Energy through its subsidiary-Welspun Solar AP Private Limited has bagged this project for developing 50 MW solar energy plant at Rajasthan. The 50 MW solar project in Rajasthan is expected to be commissioned in the first quarter of 2013.
INFO EDGE INVESTS IN 99LABELS.COM Sector: Technology Funding: Rs. 5 crores through fully convertible cumulative redeemable unsecured debentures Business of 99Labels.com: Indian leader in online event based sales. Members only prices up to 90% off on top branded merchandise.
Rationale: Through this fund, Thyrocare is planning to fund its expansion of Nuclear Healthcare.
DEBT DEALS
EXIM BANK RAISES FUNDS THROUGH MTN Sector: BFSI Funding: $500 MN via 4% 5-year notes under MTN program. The Notes were issued under Reg S of the United States Securities Act of 1933.
WELSPUN ENERGY RAISES FUNDS FOR SOLAR PROJECT
Business of EXIM Bank: Export-Import Bank of India is the premier export finance institution of the country, set up in 1982 under the ExportImport Bank of India Act 1981.
Sector: Cleantech Funding: Raised Rs. 335 crores from a consortium of lenders comprising of three public sector banks and one infrastructure finance firm.
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September 16, 2012 INVESTOCRAFT CIRCUIT BREAKER Funding: Vyome Biosciences Private Limited has raised R18.5 Cr series A round of funding led by IndoUS Venture Partners, with Aarin Capital and Navam Capital as co- investors. JINDAL SAW ISSUES NCDS TO YES BANK Sector: Engineering Funding: INR100 Cr with divisions into three Series (1,II and III) at 10.5% of R10 lakh each at par with redemption periods of year 6th,7th and 8th of the numeric Series respectively.
Rationale: The fund will be deployed to advance the clinical development of its lead antidandruff products, and to accelerate the preclinical development of its anti-acne products. Vyome is developing creative approaches that will transform how skin diseases will be treated in the future.
Business of Jindal Saw: Jindal SAW Ltd. is the flagship company of the US $ 15 billion O.P. Jindal Group. The company is in a commanding position in India's tubular market, being the undisputed leader with s turnover in excess of Rs. 7500 crores. It is one of the country's largest producers of SAW pipes, which is widely used in the energy sector for the transportation of oil and gas. Seedfund took two new startups under its wrap- DailyObject and Social Deal Factory
VENTURE CAPITAL DEALS
IndoUS Venture invests in Vyome Biosciences Sector: Healthcare About Vyome Biosciences: Vyome Biosciences is a biopharmaceutical company developing best in class drugs for dermatology care. It brings together strengths in innovation, a differentiated and diverse product pipeline and an outstanding team to emerge as a global leader in dermatology. Business of IndoUS Venture Partners: IndoUS Venture Partners (IUVP) is a leading venture capital firm which provides early and mid-stage funding to new or growing businesses in India.
Sector: Retail / Leisure/ Travel/ Textile About Seedfund: Seedfund is an early-stage venture capital fund in India. It has operations in the cities Bombay, Bangalore and New Delhi. Seedfund was founded in 2006 by Bharati Jacob, Mahesh Murthy and Pravin Gandhi. Since then, Seedfund has grown in repute and has made some high-profile investments including Redbus.in, CarWale, EduSports, Jeevanti Healthcare, RedBus, ThinkLabs and Vaatsalya About DailyObjects: DailyObjects is an online retailer for accessories in India. Its online shop stocks products from well known and popular brands. About Social Deal Factory: Social Deal Factory is engaged in creating deals for those who want to market their products/services. Rationale: This takes Seedfund's incubating companies to five so far this year. Earlier it announced three deals – Donebynone, Innoz Technologies and Jeeves Consumer Services. NMIMS, Mumbai | MBA Capital Markets
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September 16, 2012 INVESTOCRAFT CIRCUIT BREAKER
MERGERS AND ACQUISITIONS DEALS
Infosys to acquire swiss consultancy firm Lodestone Sector: IT Business of Infosys: Infosys was started in 1981, Infosys provides business consulting, technology, engineering and outsourcing services in over 30 countries. Infosys is the second largest Indian IT company and one of the leaders globally. Business of Lodestone: Incorporated in 2005 and headquartered at Zurich, Lodestone Holding AG, is a global consulting firm advising international companies on strategy and process optimization as well as IT information. The firm has presence over 17 countries on five continents. Lodestone advisory services is primarily geared to the life science, chemical, and financial services industries as well as the investment , automotive and consumer goods sector. Funding: Infosys is acquiring Lodestone for around $350 Mn (CHF 330 Mn). The transaction is expected to be completed by October end. Infosys has huge cash on their balance sheet of around R20,968 Cr. Hence it is likely that they will not look for external funding for the acquisition. Rationale: The acquisition is expected to strengthen Infosys’ management consulting and systems integration capabilities and will also lead to
expand presence in continental Europe by adding more than 750 experienced consultants and 200 clients.
Godrej to divest stake in Godrej-Hershey’s JV Sector: Consumer Goods Business of Godrej Industries: GIL is a member of the Godrej Group, which was established in 1897. Godrej Industries is India's leading manufacturer of oleochemicals and makes more than a hundred chemicals for use in over two dozen industries. It also manufactures edible oils, vanaspati and bakery fats. Besides, it operates real estate. Business of Hershey’s: Incorporated in 1894, The Hershey Company, known until April 2005 as the Hershey Foods Corporation and commonly called Hershey's, is the largest chocolate manufacturer in North America. Its headquarters are in Hershey, Pennsylvania. Funding: Godrej Industries is divesting its 43% stake in JV Godrej Hershey Limited to Hershey Company for an undisclosed consideration. The transaction is expected to close by the end of October. Rationale: Hershey company is also acquiring 6% stake from minority stake holders. Post the transaction the company will become a wholly-owned subsidiary of the Hershey Company. This comes at a time when consolidation is happening across the Indian confectionary industry.
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September 16, 2012 INVESTOCRAFT CIRCUIT BREAKER
NIIT acquires Sabre’s Development Centre
Max India sells polypropylene business to Treofan Sector: Basic Industries Business of Max Speciality Films: Established in 1990, Max Specialty Films (MSF) manufactures flexible polymer films for multitudinous applications in food, non food, and industrial packaging, leather coating films. Business of Treofan: Treofan develops and sells BOPP films in over 90 countries and has production facilities in Europe and the America. Funding: Max India is selling its polypropylene business – Max Specialty Films by selling it to Treofan Germany GmbH & Co., KG for an enterprise value of Rs. 540 Cr. Rationale: Max India wants to focus on portfolio of service oriented businesses and the transaction is in line to exit its non-core business.
Phillippines
Sector: IT Business of Sabre: Sabre Holdings is a global technology company serving the world’s largest industry - travel and tourism. It provides software to travel agencies, corporations, travelers, airlines, hotels, car, rail, cruise and tour operator companies, through its four businesses – Sabre Airline Solutions, Sabre Hospitality Solutions, Sabre Travel Network and Travelocity. Business of NIIT: NIIT Technologies is a IT solutions organization, servicing customers in North America, Europe, Middle East, Asia and Australia. It offers services in Application Development and Maintenance, Managed Services, IP Asset or Platform Solutions, and BPO to organizations in the Financial Services, Travel & Transportation, Manufacturing/Distribution, Healthcare and Government sectors. Funding: The value of the deal remains undisclosed. Rationale: With this acquisition the NIIT Technologies’ global delivery capability will be enhanced. Sabre being located at Manila which is a proven destination for BPO services. NIIT Technologies will provide services to Sabre and its other customers from this Manila center, which has a capacity of 200 seats provides a better opportunity for expansion.
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September 16, 2012 INVESTOCRAFT CIRCUIT BREAKER (10%), INPEX (10%), Statoil (8.6%), ExxonMobil (8%), TPAO (6.8%), Devon (5.6%) and ITOCHU (3.9%).
OVL enters Azerbaijan: Acquires Hess Corp’s stake in AGC oil field Sector: Oil and Gas Business of ONGC Videsh: ONGC Videsh Limited (OVL) was rechristened on 15th June 1989 from the earstwhile Hydrocarbons India Private Limited, which was incorporated on 5th March, 1965. Over a period of time, OVL has grown to become the secondlargest E&P company in India both in terms of oil production and oil and gas reserve holdings. Business of Hess Corp: Hess is an American global independent energy company engaged in the exploration and production of crude oil and natural gas, as well as refining and marketing of petroleum products, natural gas and electricity. Funding: ONGC Videsh Limited completed the acquisition of American firm Hess Corporation’s stake in Azeri, Chirag and Guneshli (AGC) group of oil fields in Azerbaijan for $1 Bn. Hess Corp. held 2.72% stake in the oil field in the Azerbaijan sector of the Caspian basin and the deal agreement also includes OVL buying Hess' 2.36% stake in Baku-Tbilisi-Ceyhan (BTC) export pipeline. Rationale: The buying of oil asset is in line with the company’s changed strategy to invest in politically less risky countries after it faced hurdles from the Western sanctions in the Iran region. The operation of the fields is under British firm BP Plc. with 34.1% stake and other partners comprise of Chevron (10.2%), SOCAR
IntelleCash buys Arohan Financial Services Sector: Financial Services Business of IntelleCash: IntelleCash Microfinance Network is a subsidiary of investment banking services and advisory firm Intellectual Capital Advisory Services Pvt. Ltd. Intellecash provides integrated support to start up entrepreneurs and work with them for a period of typically 3 years to help them achieve scale, size and stability while preserving the independence of each partner MFI. Business of Arohan Financial Services: Arohan Financial Services is a MFI which focuses to provide financial services to the urban and semi-urban poor. As on May 2012, Arohan had operations in 93 branches across 19 districts of West Bengal, Bihar and Assam, with a portfolio size of Rs. 45.85 crore. Arohan offers credit to economically backward women by offering varied products to suit their requirements. Its key focus is the group loan, for which it replicates the Grameen Bank model of lending. Funding: The entire deal is values at Rs. 52 Crore. The acquisition was executed by IntelleCash through a combination of transactions including fresh investment from Aavishkaar Goodwell II and the NMIMS, Mumbai | MBA Capital Markets
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September 16, 2012 INVESTOCRAFT CIRCUIT BREAKER purchase of stakes from an investor in Arohan, Bellwether Microfinance Fund.
US hospitals as its clients and the transaction will provide HGS Inc access to these hospitals.
Rationale: The acquisition is a part of normal business for IntelleCash.
Hinduja Global buys Healthcare BPO business from Delloite Sector: Healthcare Business of Hinduja Global Solutions: HGS, a part of Hinduja Group, provides outsourcing solutions that include back office processing, contact center services and customized IT solutions. It serves over 100 clients through its 32 delivery centres in India, US, UK, Canada, Mauritius and Philippines and employs over 19,500 people worldwide. Business of Delloite BPO: Delloite is a conglomerate of firms providing services ranging audit, consulting, financial advisory, analytics, etc. The BPO is a part of the consulting business. The healthcare BPO provides back end support to hospitals. Funding: Hinduja Global Solutions Limited has executed an asset purchase agreement with with Deloitte to purchase its healthcare revenue cycle outsourcing business (EBOS) for an undisclosed amount through its US subsidiary – Hinduja Global Solutions Inc. Rationale: The EBOS business comprises of accounts receivable processing services and insurance eligibility verification services. EBOS has several
Tata Motors sells majority Norwegian cleantech firm Electrovaya
stake MBG
in to
Sector: Engineering/Manufacturing Business of Tata Motors: Tata Motors Limited is India's largest automobile company, with consolidated revenues of INR 1,65,654 crores (USD 32.5 billion) in 2011-12. It is the leader in commercial vehicles in each segment, and among the top three in passenger vehicles with winning products in the compact, midsize car and utility vehicle segments. It is the world's fourth largest truck and bus manufacturer. Business of MBG: Set up in 1997, MBG manufactures battery and energy storage parts for electric cars and other applications. It has developed lithium-ion battery systems for the automotive industry and NMIMS, Mumbai | MBA Capital Markets
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September 16, 2012 INVESTOCRAFT CIRCUIT BREAKER is working on new applications, to be used in electrically powered ferries and other marine transportations. Business of Electrovaya: Electrovaya designs and manufactures proprietary li-ion SuperPolymer batteries, battery systems and battery-related products for clean electric transportation, utility-scale energy storage and smart grid power, consumer and healthcare markets.
Funding: The value of the deal is undisclosed. Rationale: This deal will enable Electrovaya to expand into Europe, acquire a large portfolio of battery patents and other intellectual property, acquire plant and machinery and add a product portfolio targeted at energy storage, marine and electric vehicles markets while adding a strong technical team with many years of li-ion battery systems experience.
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September 16, 2012 INVESTOCRAFT CIRCUIT BREAKER
DISCLAIMER Circuit Breaker is an activity of Investocraft, by students of MBA Capital Markets, NMIMS, Mumbai. The data sources are approved Govt sites, as well as other sites respected by the investor community like MoneyControl, VCCircle, etc For more information, please contact: Deepti Bawiskar: deepti.bawiskar@gmail.com, 9158892161 Madusudanan Ramani: madusudanan.svr@gmail.com, 992015949
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September 16, 2012 INVESTOCRAFT CIRCUIT BREAKER
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