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February 11, 2015

Khaitan & Co. Tops League Table for Legal Advisors to M&A Transactions in 2014

AZB & Partners, J Sagar Associates follow at Nos. 2 & 3 respectively

Khaitan & Co. topped the Venture Intelligence League Tables for Most Active Legal Advisor to M&A transactions for 2014 with 114 points (across 34 qualifying deals) followed by AZB & Partners with 112 points (across 30 deals) while J Sagar Associates came in next with 106 points (29 deals).
The Venture Intelligence League Tables, the first such initiative exclusively tracking transactions involving India-based companies, are based on volume of Private Equity and M&A transactions (combined with credits based on fulfilment of criteria) advised by Transaction and Legal Advisory firms.
Khaitan & Co. advised M&A deals during the year included Meiji acquisition of Medreich for $290 million and the $74 million acquisition of Transpole Logistics by SBS Holdings. AZB & Partners advised M&A deals during the year included the $2.43 Billion acquisition acquisition of ING Vysya Bank by Kotak Mahindra Bank and the $984 million acquisition of Lanco Infratech by Adani Power. J Sagar Associates advised M&A deals in 2014 included the $470 million acquisition of Reliance Mediaworks by Prime Focus and the $336 million acquisition of Positive Packaging Industries by Huhtamaki.
Other legal advisors who had advised a significant number of M&A deals during the year included Amarchand & Mangaldas (76 points, 21 deals), Trilegal (52 points, 13 deals) and ALMT Legal (46 points, 12 deals).
Amarchand & Mangaldas topped the table in terms of value of the deals advised. Amarchand & Mangaldas advised deals during the year included the $4 billion acquisition of Ranbaxy by Sun Pharma. Amarchand was followed by AZB & Partners and Luthra & Luthra in terms of deal advised by value.
Khaitan & Co. topped both Inbound and Domestic deals table with 18 deals and 16 deals respectively. While AZB & Partners came in second in Inbound deals with 17 qualifying deals, and J Sagar Associates came in second in Domestic deals with 12 deals. Nishith Desai Associates led the Outbound M&A deals advising three deals.
New Entrants to the Venture Intelligence M&A table for Legal Advisors during 2014 include NovoJuris, Agram Legal and iCounsel.
The full league table can be viewed online at http://ventureintelligence.in/leagues.php

Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

February 10, 2015

Ernst & Young Tops League Tables for Most Active M&A Transaction Advisor for 2014

Ernst & Young topped the Venture Intelligence League Table for the Most Active Transaction Advisor for Mergers & Acquisitions deals for calendar 2014 with 58 points (across 15 qualifying deals). ICICI Securities finished second with 36 points (across 9 deals) while Kotak, MAPE and PwC shares the third spot with 28 points (across 7 deals).
The Venture Intelligence League Tables, the first such initiative exclusively tracking transactions involving India-based companies, are based on volume of PE and M&A transactions (combined with credits based on fulfilment of criteria) advised by Transaction and Legal Advisory firms.
Transactions that Ernst & Young provided financial advise to during the year included the $470 M acquisition of Reliance Mediaworks by Prime Focus and the $114 acquisition of Jaypee Group cement units by Dalmia Cement. E&Y provided due diligence services to deals like Sun Pharma’s acquisition of Ranbaxy and Kotak Mahindra Bank’s acquisition of ING Vysya Bank.
BMR Advisors earned 26 points across 8 deals during the same period, while O3 Capital earned 24 points across 6 deals. Other transaction advisors who had advised a significant number of M&A deals during the year included Axis Capital (6 deals) and Signal Hill Capital (4 deals). Deloitte and Veda Corporate Advisors advised 3 deals each.
Some of the new entrants to this year’s M&A league tables included Trans Corporate Advisory and Equirus.
The full league tables can be viewed online at http://ventureintelligence.in/leagues.php

Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

February 09, 2015

AZB retains top ranking among Legal Advisors to Private Equity Transactions in 2014

AZB & Partners retained its status – for the fifth consecutive year - as the Most Active Legal Advisor for Private Equity transactions during 2014. According to the Venture Intelligence League Tables, AZB finished the year with 176 points (across 44 qualifying deals). IndusLaw and Impact Law Ventures vaulted to the second and third spot with 164 points (across 41 deals) and 132 points (33 deals) each.

The Venture Intelligence League Tables, the first such initiative exclusively tracking transactions involving India-based companies, are based on volume of PE and M&A transactions (combined with credits based on fulfilment of criteria) advised by Transaction and Legal Advisory firms.

AZB advised deals during the period included Warburg Pincus’ acquisition of minority stake in Kalyan Jewelers for $200 million; General Atlantics’ $100 million investment in Citius IT Solutions and the $210 million investment by Softbank Corp. and other investors in Olacabs. Transactions advised by IndusLaw included Snapdeal.com’s attracting $637 million investment from SoftBank Corp. and other investors while Impact Law Ventures advised Knowlarity Communications in its fund raising of $15 million from Mayfield and Sequoia Capital India.

AZB & Partners also topped the tables in terms of deals advised by value. Trilegal (which advised BlackRock in SoftBank and other investors deal in Snapdeal) came in second while IndusLaw finished third in terms of deals advised by value.
The year also saw a lot of new entrants like Impact Law Ventures and Agram Legal entered the Venture Intelligence Most Active Legal Advisors for Private Equity league table.

The full league tables can be viewed online at http://ventureintelligence.in/leagues.php

Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

February 07, 2015

Unitus Capital retains status as Most Active Financial Advisor for Private Equity Transactions in 2014

Ernst & Young retains Most Active Transaction Advisor status inclusive of due diligence, other services 

Unitus Capital retained the top position of the Venture Intelligence League Table for Most Active Transaction Advisor (Private Equity) for calendar 2014 acting as financial advisor to 17 qualifying PE investments during the year (and notching up 68 points). Among the transactions advised by Unitus were the $13 million investments by Fidelity Growth Partners and Aavishkaar in Milk Mantra and NMI investment in Satin Creditcare Network.

The Venture Intelligence League Tables, the first such initiative exclusively tracking transactions involving India-based companies, are based on volume of PE and M&A transactions (combined with credits based on fulfilment of criteria) advised by Transaction and Legal Advisory firms.

Ernst & Young came in second (for pure financial advisory) with 40 points (across 10 deals). Inclusive of its roles in due diligence and related advisory activities, Ernst & Young retained its status as overall Most Active Transaction Advisor for Private Equity deals in 2014 with 99 points (across a total of 69 deals). Ernst & Young advised deals included the investment of $50 million by ADB, DEG into Welspun Renewable Energy and the $31 million investment by Tata Capital into Sai Lifesciences.

Intellecap came in third with 32 points (across 8 deals) advising deals including Suryoday Microfinance’s fund raising from IFC, Aavishkaar Goodwell and Lok Capital and SME lender Intellegrow’s investment from Omidyar Network and Michael & Susan Dell Foundation.

O3 Capital and Spark Capital Advisors, which advised 6 deals each, completed the top five for 2014.

New entrants into the Venture Intelligence league table in the category during the 2014 included Think Capital, Intensive Fiscal Services and Dexter Capital.

The full league tables can be viewed online at http://ventureintelligence.in/leagues.php

Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

February 03, 2015

"Tutors are the True Heroes of the Indian Education System"

Interesting article in Forbes India by Meeta Sengupta:
If there is one system that is working to further rigour, accuracy and excellence (of sorts), it is the tutoring ecosystem...it is the tutoring system that has added the quality dimension to it. If the goal is better marks, the tuition system has delivered on it. If the goal is smaller classes, the tutoring system has delivered. If the goal is teacher accountability – again, the tutoring system has delivered excellence.
...Students are not necessarily becoming dumber or smarter; they are becoming more skilled at taking exams. This is what a tutor does – and they are good at it. Here is the interesting thing: the tutoring ecosystem has delivered on a national goal of improving standards (as measured by marks) without being organised, regulated, scaled or standardised.
There are lessons here for the schooling system – both in the public and private sectors. The tutoring system has been able to deliver much more than a traditional schooling system struggles with on a daily basis. Quality (as defined by goals set), time on task, efficiency, lack of absenteeism – tutoring scores. Tutoring is also a completely self funded system with little pressure on the exchequer. At the same time, the system remains flexible enough to deliver an affordable solution at each price point the market demands – the cost per child is monitored, managed and responsive to the needs of the group they serve. When one looks at delivering to standards, at standardised learning – again the tutorial system makes the grade. Or they go out of business.
Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

February 01, 2015

YoCAPTCHA - Yet another founder breakup - but thankfully managed success despite - story

From The Mint profile:
In June 2012, a clutch of investors—part of the Mumbai Angel Network—approached Gupta. However, the presence of a third dormant partner—Agarwal—remained a concern. Agarwal, who had not yet left the company on paper but was inactive in day-to-day operations, left the investors jittery. In the final stages of the term sheet being signed, a dispute between the three partners led investors to back out. It was a very stressful period, adds Gupta, explaining that there were times when he thought of giving up the venture.
By the end of 2012, it was very clear that Agarwal would not be returning to the venture. However, good news appeared in the form of a strong order book with advertisers such as Reliance 3G and Proctor and Gamble getting on board. Digital advertising networks such as Networkplay Media, then part of German media group Bertelsmann, became regular marketers of Yo!CAPTCHA. In May 2013, Networkplay offered to buy Yo!CAPTCHA, from Innovese. The acquisition was completed in June 2013.
...“Managing people was a key part of our business; also, don’t be focused on the money, it will come,” explains Gupta. And “start young”, no amount of education can teach you what a start-up can, he adds.
Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.