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The Big Story
Chinese
travel service firm Ctrip invests $180-M in MakeMyTrip
China-based travel services firm Ctrip.com International Ltd has
invested about $180 million in Nasdaq-listed online travel
company
MakeMyTrip through convertible
bonds. In addition, MakeMyTrip has granted Ctrip permission to
acquire its shares in the open market, so that combined with
shares convertible under the convertible bonds, Ctrip may
beneficially own up to 26.6% of MakeMyTrip’s outstanding shares.
Ctrip will also acquire the right to appoint a director to the
MakeMyTrip board of directors. Morgan Stanley acted as
the exclusive financial advisor and Latham & Watkins
served as the legal advisor to MakeMyTrip on this transaction.
MakeMyTrip reported revenues of $62.5 million for the quarter
ended September 30, 2015, an increase of 3.2% over revenue of
$60.5 million in the quarter ended September 30, 2014.
Private
Equity Fund Investments
Zodius leads Rs.110-Cr
investment in FreshMenu
Economic Times
Online first restaurant FreshMenu has raised INR 110
crore in a new round of funding led by Zodius
Capital with participation from existing investor
Lightspeed Ventures. The deal values the startup at
around INR 300 crore ($45 million). The company will
use the funds to expand operations, hire more people
and build the brand.
From the Venture Intelligence
PE/VC Deal Database: K Ganesh,
Founder of incubation and angel investment firm
GrowthStory and also an LP in Zodius, is among the
earlier investors in FreshMenu.
Lightbox invests $5-M in
jewellery designer Melorra
Dealstreetasia
LightBox Ventures is to invest $5 million in
Bangalore-based August Jewellery Pvt Ltd, which
operates a jewellery design business under the brand
Melorra,. Melorra plans to create new designs every
week, which can be worn with latest clothing trends.
The average price of jewellery items at Melorra is
INR 16,000 and the company uses 14 carat gold to
make its products. Melorra’s design team is entirely
in-house, based out of Bangalore, the US and the UK.
From the Venture Intelligence
PE/VC Deal Database: In May 2015,
Lightbox Ventures II invested INR 9.55-Cr as a first
tranche in August Jewellery and agreed to make
further investments. Siddharth Talwar, Co-Founder &
Partner, Lightbox joined the company’s board.
(Subscribers to the database can login to view
additional deal structuring and other transaction
details.)
Endiya Partners invests in
Hansel, Innerchef
Economic Times
Early-stage investment firm Endiya Partners has
invested in Bangalore-based mobile app crash
analytics startup Hansel and food technology company
InnerChef founded by Rajesh Sawhney of GSF
Accelerator.
Liquidity
Events (Private Equity)
Quikr acquires property
marketplace CommonFloor
Economic Times
Online classifieds company Quikr is to merge
property portal CommonFloor with its real estate
vertical QuikrHomes. The deal values CommonFloor at
$100-120 million (INR 665-800 crore) - ie at a
discount to its last financing round.
From the Venture Intelligence
PE/VC Deal Database - Where you get
real numbers, not guesses and “from sources”:
CommonFloor has raised a total of INR 346.96 crores
across 7 rounds of funding from Accel India, Tiger
Global and Google Capital. In January 2015,
CommonFloor had raised INR 60.35 Cr. led by Google
Capital and at a post money valuation of INR 965
Cr.(Subscribers to the database can login to
view the valuation multiples, deal structuring and
other transaction details.)
Angel
Investments
Two wheeler taxi service
provider Bikxie raises funds
Inc42
Bikxie, a two wheeler taxi service provider, which
recently launched its services in Gurgaon, has
raised angel round funding from an investment banker
from the Middle East and a businessman based in
South India. The funds will be utilised in app
development, expansion of services in Haryana and
building marketing strategies. Bikxie had earlier
raised seed funding from individual investment
bankers. Founded in late 2015 by Mohit Sharma, Divya
Kalia and Dennis Ching, Bikxie, offers last-mile
connectivity to college students and office goers.
Other
Private Equity / Strategic Investments
Online education startup
Gyaanzone raises Rs.30 Lakhs from GBIM Tech
NextBigWhat
GBIM Technologies has invested INR 30 lakhs in
Gyaanzone, an online education portal. The GBIM’s
investment took place in December 2015. Gyaanzone
facilitates students with flexible learning
opportunities through access to Indian schools,
colleges, universities, exams, courses and other
distance learning programs. The funds will be used
to continue its services of providing updated and
enhanced educational functionalities with more
extensive program and course information, better
personalized services and other expanded student
services.
M&A
OnMobile divests speech
tech assets
Deccan Herald
Publicly listed OnMobile is to sell its speech
technology assets for Euro 6,50,000 to Voicebox
Technologies, France .
OnMobile had acquired the speech recognition
technology from Telisma in 2008, but is no longer
imperative for OnMobile’s new offerings, which are
focused on smartphone apps.
Endiya
Partners raises Rs 100-Cr for early stage fund
Economic Times
Early-stage investment firm Endiya Partners has raised Rs
100 crore in its first close. It will focus on startups in
technology, consumer internet services and healthcare.
Founded by managing partner of Ventureast Tenet Fund Sateesh
Andra, venture partner Ramesh Byrapaneni and investment
manager Abhishek Srivastava, the fund will be looking at
digital healthcare startups, medical devices and
point-of-care and chronic disease management solutions.
Financial institutions including SIDBI and family offices in
India are part of our fund. The corpus of Rs 200 crore will
be raised from five-six partners and will be utilised to
fund nearly 25 companies over the next three years. The
investments will range from Rs 8-10 crore for 10-20% stake
in the company. The fund will also participate in follow-on
rounds, with some of the limited partners co-investing with
the fund.
TA promotes Naveen
Wadhera, Dhiraj Poddar
TA Associates has promoted
Naveen Wadhera as Managing Director from Director. He is
based in the London office of TA Associates (UK), LLP,
focusing on investments in companies across Europe and the
Asia-Pacific region. He also serves as Co-Head of Asia.
The fund has also promoted Dhiraj Poddar to Director from
Principal. He is Co-Head of India and based in the Mumbai
office of TA Associates, focusing on investments in
companies in India and other emerging markets.
VI Updates
Highlighted Sponsor
"China has been at the centre of a lot of
controversy following its currency devaluation and the
sudden crash of the stock market. Many observers especially
in the developed world are accusing it of currency
manipulation to defibrillate exports and hence the economy.
In a talk delivered at the Indian Chemical Council, Mr.
Sridhar Venkiteswaran, Executive Director, Avalon
Consulting, explored these issues and their impact on both
China and India.
Click here to read more.
Connect with Avalon Consulting on Twitter, Facebook and LinkedIn to receive interesting insights and updates. |
PE/Strategic Investment
L&T Mutual
Fund looks to sell 49%
Economic Times
L&T Mutual Fund is looking to sell a 49% stake to
raise Rs 600-625 crore from a strategic partner. The
fund house is exploring various options, which
include a joint venture with an established mutual
fund, a merger with an existing one or selling stake
to a foreign player.
Other Deals
Govt may
dilute 11.7% in Axis Bank
Times of India
The government is considering diluting its 11.7%
stake in Axis Bank it holds through the Specified
Undertaking of the Unit Trust of India (SUUTI) to
meet shortfall in disinvestment proceeds and revenue
collection during the current fiscal. At the current
market price, the government could raise about Rs
11,240 crore by selling 27.48 crore shares. SUUTI
currently holds 11.7% stake in Axis Bank.
People
Cipla promotes CFO Vohra as COO, appoints Samina
Vaziralli as Global Head of M&A
Cipla Limited
announced the appointment of Umang Vohra,
currently the Global Chief Financial and
Strategy Officer, as its Global Chief Operating
Officer with immediate effect. He replaces
Sudhanshu Priyadarshi who has decided to pursue
interests beyond Cipla.
Cipla has also appointed Samina Vaziralli,
Executive Director as the company’s Global Head
for strategy, M&A, Cipla New Ventures and key
partner relationships.
Tatva Legal is a full service law firm with offices across five locations in Bengaluru, Chennai, Gurgaon, Hyderabad and Mumbai founded in 2010 with 16 Partners and 80 Lawyers. The firm acts for both national and international clients.
As a full service firm, Tatva Legal provides a broad range of legal services whilst focusing on its core areas of practice corporate advisory, private equity and mergers and acquisitions, banking and finance, infrastructure and real estate.
The M&A team has extensive experience in representing private equity players, venture capitalists and corporates (including several Fortune 500 companies) in a multitude of specialised and sophisticated transactions, in both domestic and cross border deals.
The firm has an active practice in advising Banks and Non-banking Financial Companies in their fund deployment including listed corporate bonds, mezzanine debt and lending.
The firm is highly recommended for Real Estate transactions and has advised Developers, Funds and End Users like Hotels & Hospitals, SEZ, IT Parks across India.
The other areas of Practice include Insurance, Competition / Anti Trust, Projects Technology & dispute resolution.
N.K.Dilip
E:
[email protected]
Tel. +91 80 43311433
"China has been at the centre of a lot of
controversy following its currency devaluation and the
sudden crash of the stock market. Many observers especially
in the developed world are accusing it of currency
manipulation to defibrillate exports and hence the economy.
In a talk delivered at the Indian Chemical Council, Mr.
Sridhar Venkiteswaran, Executive Director, Avalon
Consulting, explored these issues and their impact on both
China and India.
Click here to read more.
Founded in 1989, Avalon Consulting is an international management consulting firm that offers services in growth strategy, business transformation and transaction support to clients across a wide range of sectors including Agribusiness, Automotive, Chemicals, Construction, Education, Engineering, FMCG, Healthcare, Pharmaceuticals and Retail. It has offices in Mumbai, Delhi, Chennai, Bangalore and Singapore serving clients across India, Middle East, South East Asia, China, Europe and the US. Avalon Consulting is among the Top 15 Consulting Firms Overall in Asia (Vault List 2014).
Connect with Avalon Consulting on Twitter, Facebook and LinkedIn to receive interesting insights and updates.
Basiz is a high end and specialized fund accounting service provider with international footprints, with offices in Mumbai, Chennai and Coimbatore in India, besides Singapore, London and New York. Basiz primarily focuses on servicing Fund administrators, Hedge Funds, Mutual Funds, Private Equity / Venture Capital Funds, Family Offices, REIT Funds, Insurance Portfolios and Managed Accounts.
Contact Information
Sesh A.V ACA, Managing Director
Basiz Fund Services Pvt. Ltd
M: +918286008554, E:
[email protected]
http://www.basizfa.com
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