Dealtracker Providing you with M&A and Private Equity deal insights TH ANNUAL EDITION 2016 2 Dealtracker 2016 | M&A DEALS M&A DEALS Dealtracker 2016 | M&A DEALS 3 Acquirer Target Sector US$ mn Type Stake Domestic Tata Sons Ltd AirAsia India Pvt. Ltd Aerospace & Defense N.A. Increasing stake 10% to 51% Yara Fertilizers India Pvt Ltd Tata Chemicals Ltd- urea and customised Agriculture & Forestry 400.00 Acquisition 100% fertiliser business ITC Ltd Technico Agri Sciences Ltd India Agriculture & Forestry 18.10 Acquisition 100% Rallis India Ltd Metahelix Life Science Agriculture & Forestry 11.28 Increasing stake 19% to 100% Patanjali Ayurved Ltd RH Agro Overseas (P) Ltd's rice mill in Agriculture & Forestry 10.45 Acquisition 100% Sonipat Joonktollee Tea & Industries Ltd Keshava Plantations Pvt Ltd-Azizbagh Tea Agriculture & Forestry 4.10 Acquisition 100% Estate Rallis India Ltd Zero Waste Agro Organics Pvt Ltd Agriculture & Forestry 2.91 Increasing stake 26% to 100% Mahindra CIE Automotive Limited Bill Forge Pvt Ltd Automotive 198.69 Acquisition 100% Musale Family Classic Stripes Pvt. Ltd Automotive 53.73 Controlling 51% Stake Badve Engineering Pvt. Ltd Escorts Ltd- OEM and export business of Automotive N.A. Acquisition 100% auto products division Minda Industries Ltd ROKI Minda Co. Private Limited Automotive 6.41 Strategic Stake 49% HDFC ERGO General Insurance Co. Ltd L&T General Insurance Co. Ltd Banking & Financial Services 82.24 Acquisition 100% 4 Dealtracker 2016 | M&A DEALS Acquirer Target Sector US$ mn Type Stake Hero Group Hero FinCorp Ltd Banking & Financial Services 44.78 Controlling N.A. Stake Kotak Mahindra Bank Ltd BSS Microfinance Pvt. Ltd Banking & Financial Services 20.78 Majority Stake 99% Axis Bank Ltd Max New York Life Insurance Company Ltd. Banking & Financial Services 14.00 Increasing stake 5% to 5.99% Dr Reddy's Laboratories Ltd Imperial Credit Pvt. Ltd Banking & Financial Services 5.37 Acquisition 100% Axis Bank Ltd Asset Care and Reconstruction Enterprise Banking & Financial Services 3.39 Minority Stake 14% Ltd Inditrade Capital Ltd Edel Commodities Trading Ltd Banking & Financial Services 1.94 Acquisition 100% DCB Bank Ltd Annapurna Microfinance Private Limited Banking & Financial Services 1.50 Minority stake 6% IDFC Bank ASA International India Microfinance Pvt Ltd Banking & Financial Services 1.30 Acquisition 100% Corporation Bank National Payment Corporation of India Banking & Financial Services 0.77 Minority Stake 1% Swastika Investmart Ltd. TradingBells Banking & Financial Services 0.29 Minority Stake N.A. Kotak Mahindra Bank Ltd Institutional investor Advisory Services India Banking & Financial Services 0.15 Minority Stake 10% Limited. Life Insurance Corp. of India National Stock Exchange Banking & Financial Services N.A. Minority Stake 2% Undisclosed Buyer Indian Energy Exchange Banking & Financial Services N.A. Minority stake 4% IIFL Wealth Management Ltd Chephis Capital Markets Ltd Banking & Financial Services N.A. Acquisition 100% Dealtracker 2016 | M&A DEALS 5 Acquirer Target Sector US$ mn Type Stake Yes Bank Ltd Institutional investor Advisory Services India Banking & Financial Services N.A. Minority stake 5% Limited. Edelweiss Asset Management Ltd JPMorgan Asset Management India Pvt. Ltd- Banking & Financial Services N.A. Acquisition 100% Mutual fund business Yes Bank Ltd Receivables Exchange of India Limited Banking & Financial Services N.A. Minority Stake 8% IDFC Bank Ltd Grama Vidiyal Micro Finance Ltd Banking & Financial Services N.A. Acquisition 100% Scale Ventures Guerrilla Ventures Banking & Financial Services N.A. Acquisition 100% JM Financial Products Ltd India Home Loan Ltd Banking & Financial Services N.A. Strategic Stake 25% Essel Finance Advisors and Managers Llp Peerless Fund Management Company Banking & Financial Services N.A. Acquisition 100% Limited and the Peerless Trust Management Company Limited Quikr India Pvt. Ltd. Commonfloor.com - Maxheap Technologies E-commerce 200.00 Acquisition 100% Pvt Ltd BrainBees Solutions Pvt ltd- Firstcry Mahindra Retail Pvt. Ltd- Babyoye.com E-commerce 54.04 Acquisition 100% Titan Co Ltd Caratlane.com -Carat Lane Trading Pvt. Ltd. E-commerce 53.32 Majority Stake 62% Aditya Birla Fashion and Retail Ltd Forever 21- online and offline rights of E-commerce 26.00 Acquisition 100% Indian Bussiness Info Edge India Ltd. Canvera Digital Technologies Pvt Ltd. E-commerce 2.58 Increasing stake N.A. (canvera.com) to 57% Info Edge India Ltd. Happily Unmarried Marketing Pvt Ltd E-commerce 0.74 Increasing stake 4% to 48% 6 Dealtracker 2016 | M&A DEALS Acquirer Target Sector US$ mn Type Stake Next Education India Pvt. Ltd InOpen Technologies Pvt. Ltd E-commerce N.A. Acquisition 100% Cross Roads India Assistance Pvt Ltd Amoeba Webware Pvt. Ltd- MeriCAR.com E-commerce N.A. Acquisition 100% Freshdesk Technologies Framebench Technologies Pvt. Ltd E-commerce N.A. Acquisition 100% Wings Travels Management Pvt Ltd- LiveMinds Solutions Pvt Ltd -Bookmycab. E commerce N.A. Acquisition 100% wingstravels.in com Applied Life Pvt Ltd- Sheroes.in Gharkamai E-commerce N.A. Acquisition 100% 1mg Technologies Pvt. Ltd Angels Health Private Limited-MediAngels E commerce N.A. Acquisition 100% Undisclosed Buyer Vidya Mandir Classes Limited Education 13.00 Controlling 67% Stake Navneet Education Ltd Encyclopaedia Britannica India Pvt Ltd Education 12.70 Acquisition 100% Rise India Padhopadhao.com Education 0.22 Majority Stake 60% Spice Digital Limited (Spice Mobility) Sunstone Eduversity Private Limited Education N.A. Strategic Stake 23% FitKids Education and Training Pvt. Ltd ThinkLABS Technosolutions Pvt. Ltd Education N.A. Acquisition 100% Chatur Ideas Pvt. Ltd Nurture Talent Academy Education N.A. Acquisition 100% Tata Power Renewable Energy Ltd Welspun Renewable Energy Pvt. Ltd. Energy & Natural Resources 1,380.45 Acquisition 100% JSW Energy Ltd Jindal Steel and Power Ltd(1000 MW power Energy & Natural Resources 606.06 Acquisition 100% plant in Chhattisgarh) JSW Energy Ltd Jaiprakash Power Ventures Ltd -Bina Energy & Natural Resources 400.00 Acquisition 100% Thermal Power Plant Dealtracker 2016 | M&A DEALS 7 Acquirer Target Sector US$ mn Type Stake Chubb Alba Control Systems Ltd (United EcoEnergy - Wipro Ltd Energy & Natural Resources 70.00 Acquisition 100% Technologies Corporation) Bharat Petroleum Corporation Limited Petronet CCK Limited Energy & Natural Resources 11.81 Increasing Stake 26% to 99.99% Oilmax Energy Pvt Ltd Asian Oilfield Services Energy & Natural Resources 4.48 Majority Stake 56% Prism Cement Ltd BLA Power Pvt Ltd Energy & Natural Resources 3.13 Minority Stake 15% Thermax Ltd First Energy Pvt Ltd Energy & Natural Resources 0.90 Minority Stake N.A. Adani Transmission Ltd Reliance Infrastructure Ltd- three power Energy & Natural Resources N.A. Acquisition 100% transmission projects Ostro Energy Pvt. Ltd Prathamesh Solarfarms Ltd Energy & Natural Resources N.A. Strategic Stake 49% India Power Corp. Ltd Meenakshi Energy and Infrastructure Energy & Natural Resources N.A. Majority Stake 89% Holdings Pvt Ltd Tata Power Renewable Energy Ltd Indo Rama Renewables Jath Limited Energy & Natural Resources N.A. Acquisition 100% Suzlon Energy Ltd Gale Solarfarms Private Limited, Energy & Natural Resources N.A. Acquisition 100% Tornado Solarfarms Private Limited, Abha Solarfarms Private Limited, Aalok Solarfarms Private Limited and Shreyas Solarfarms Private Limited. Adani Transmission Ltd Maru Transmission Services Ltd Energy & Natural Resources N.A. Majority Stake 74% Adani Transmission Ltd Aaravalli Transmission Services Ltd Energy & Natural Resources N.A. Strategic Stake 49% Embassy Property Developments Pvt. Ltd Mac Charles Hotels Pvt. Ltd Hospitality & Leisure 96.00 Majority Stake 73% 8 Dealtracker 2016 | M&A DEALS Acquirer Target Sector US$ mn Type Stake SAMHI Hotels Pvt Ltd Ascent Hotels Pvt Ltd- Hyatt Regency & Hospitality & Leisure N.A. Acquisition 100% 102 serviced apartments Yatra Online Pvt Ltd Travel-logs India Pvt Ltd Hospitality & Leisure N.A. Acquisition 100% InnerChef Pvt Ltd EatOnGo Food Services Pvt Ltd Hospitality & Leisure N.A. Acquisition 100% InnerChef Pvt Ltd ANRV Flavour Food & Experience Labs- Hospitality & Leisure N.A. Acquisition 100% Flavour labs Piveta Estates Private Limited Riga Foods Hospitality & Leisure N.A. Controlling 51% Stake Essel Infraprojects Ltd Patel KNR Infrastructure Ltd and Patel KNR Infrastructure Management 126.87 Acquisition 100% Heavy Infrastructure Ltd Cube Highways and Infrastructure Pte Ltd Western UP Tollway Ltd Infrastructure Management 88.46 Acquisition 100% Ace Urban Developers Ltd L&T Infocity Ltd Infrastructure Management 28.80 Majority Stake 89% Oriental Structural Engineers Pvt Ltd GMR OSE Hungund Hospet Highways Pvt. Infrastructure Management 12.50 Increasing stake 51% Ltd to 61.16% Dhampur Sugar Mills Limited DETS Limited Infrastructure Management 0.21 Controlling 51% Stake HCL Technologies Ltd Geometric Ltd IT & ITeS 190.00 Acquisition 100% Bharat Petroleum Corporation Limited FINO PayTech Ltd IT & ITeS 37.60 Minority Stake 21% Nihilent Technologies Limited ICRA Techno Analytics Limited IT & ITeS 10.30 Acquisition 100% Dealtracker 2016 | M&A DEALS 9 Acquirer Target Sector US$ mn Type Stake Infibeam Incorporation Ltd Avenues India Pvt Ltd- CCAvenue IT & ITeS 8.90 Strategic Stake N.A. Solvy Tech Solutions Pvt Ltd - zopper.com Upsilon Consulting Pvt Ltd- EasyPOS IT & ITeS 5.00 Acquisition 100% TeamLease Services Ltd NichePro Technologies Pvt Ltd IT & ITeS 4.40 Acquisition 100% UPL Ltd Weather Risk Management