Infrastructure Advisory

Providing the entire gamut of investment banking solutions to companies in infrastructure development

Highlights

  • A dedicated infrastructure advisory practice exclusively focused on the sectors of Power, Transportation, Urban Infrastructure and Urban Transportation
  • The team comprises seasoned professionals who have extensive experience in infrastructure, a keen understanding of the sector and strong industry relationships

If India is to sustain its growth momentum into the next decade, developing world-class infrastructure facilities is of overriding importance. The significant demand for quality infrastructure projects across the country is driving the need for sophisticated and targeted financial advisory and fund mobilization services in this sector.

Kotak Investment Banking has formed a dedicated Infrastructure Group to provide the entire gamut of investment banking solutions to public and private sector corporates across sectors like Power (Generation & Associated Coal Mining, Transmission and Distribution), Transportation (Roads, Seaports, Airports & Railways), Urban Infrastructure (Car Parks and Water & Sewerage etc) and Urban Transportation (MRTS, LRTS, Hi-Speed Rail Links).

The infrastructure team has over 50 years of collective experience in the Infrastructure space and comprises professionals with a strong background in project level advisory, investment banking, resource mobilization, and development of infrastructure projects.

Key Recent Deals

  • National Collateral Management Services:In 2015, Exclusive Financial Advisor to NCML for sale of majority stake to Fairfax for an aggregate consideration of ~Rs 8 billion. This is the largest transaction in the agri-logistics space in India.
  • GMR:In 2013, GMR Highways Ltd. signed definitive agreements with Macquarie SBI Infrastructure Investments Pte Ltd and SBI Macquarie Infrastructure Trust to divest 74% stake in GMR Jadcherla Expressways Ltd (GJEL). GJEL is the concessionaire of the 58 km Farukhnagar - Jadcherla stretch in Andhra Pradesh on NH 7. Kotak Investment Banking was the exclusive financial advisor to GMR Highways Ltd on the transaction; US$ 38 million
  • Essar Ports Limited: In 2012, Essar Ports Limited signed a Strategic Alliance Agreement (SAA) with Port of Antwerp International (PAI) for long-term strategic alliance and placement of Global Depository Securities (GDS) aggregating Euro 25 mn (~ Rs. 175 cr) with PAI. The SAA allows both parties to develop joint initiatives worldwide and collaborate in the areas of consultancy, port planning & development and training. Kotak Investment Banking was the exclusive financial advisor to Essar Ports Limited.
  • BS Ispat Limited: In 2011, Oriental Iron Casting Limited, a subsidiary of OCL Iron & Steel Limited (OISL), acquired 100% stake in BS Ispat Limited. BS Ispat Limited is developing a 450 MW power plant, two captive coal blocks with capacity of ~70 million tonnes of coal and an associated sponge iron plant in the state of Maharashtra. OISL is a part of the Amtek Group, which is a leading global manufacturer of automotive components and assemblies with production facilities located across North America, Europe & Asia. Kotak Investment Banking was the exclusive advisor to the promoters of BS Ispat Ltd for the transaction.
  • GVK Energy Debt Mobilization for acquisition of Hancock Mines: In 2011, GVK Coal Developers (Singapore) Pte Ltd (promoted by GVK Group) successfully raised debt of USD 1 bn for part financing the acquisition of Hancock Mines in Australia. The Kotak Mahindra group along with a consortium of public sector banks arranged USD 500 mn out of the total USD 1 bn debt for the transaction. The fund raise is one of the largest acquisition financings by Indian banks for an overseas mineral resource asset.
  • Kalpan Hydro (Mauritius): In 2011, Neptune Infra Company Pte Limited acquired 100% stake in Kalpan Hydro Company (Mauritius). KHC is an aggregator of hydro power assets with operations in India. Kotak Investment Banking was the exclusive advisor to the promoters of Kalpan Hydro Company (Mauritius) for the transaction.
  • Tuticorin Coal Terminal Private Limited (TCTPL): In 2011, TCTPL (promoted by ABG – LDA Bulk Handling Pvt. Ltd.) successfully raised debt of Rs. 3,280 mn for part financing the North Cargo Berth-II Project at Tuticorin Port, including both funded (RTL) and non-funded (BG) facilities. The Kotak Mahindra group along with a public sector bank arranged the entire debt for the transaction. The debt was syndicated at a competitive interest rate at a time of high interest rate environment and liquidity crunch.
  • GMR Energy: In 2010, exclusive financial advisor for investment of Rs 9.3 bn by Claymore Investments (Mauritius) Pte. Ltd (a wholly owned subsidiary of Temasek Holdings) through compulsorily cumulative convertible preference shares. The deal is one of the largest private equity investments in India’s power sector and is Temasek’s first investment in the power generation sector in India.
  • Monnet Power Company Limited (MPCL): In 2010, exclusive financial advisor and arranger for investment of Rs 275 cr by Blackstone Capital Partners (Mauritius) Limited through subscription to equity shares of MPCL. This is Blackstone’s first investment in the power generation sector in India.
  • GMR Pochanpalli Expressways Limited: In 2010, GMR Pochanpalli Expressways Limited (a GMR Group Company) had successfully placed rated Non-Convertible Debentures (AAA SO) of Rs. 650 crores to refinance its existing loans. Kotak was the exclusive financial advisor for the transaction. This is the first long-term debt raise by way of a rated instrument by a private infrastructure project company in India.
Service Offerings
  • Bid Advisory Services
  • Partner Search and Strategic Alliances
  • Project Advisory Services
  • Debt/Quasi Debt Mobilization
  • Private Equity Mobilization
  • Project Level Acquisitions and Divestitures
  • Fundraising from Capital Markets
 

Team Leader

Joined Kotak Investment Banking in 2013.

Responsible for leading coverage across a number of sectors including large corporates, pharmaceuticals and healthcare, infrastructure and telecom/media. In addition, he also leads the Financial Sponsors Group (FSG) spearheading transactions involving leading private equity and hedge funds.

A highly experienced banker with close to 2½ decades of investment banking experience in India and globally, advising on M&A and capital market transactions across a wide range of industries.

Pankaj is a Chartered Accountant and an MBA from The Wharton School, University of Pennsylvania.

Leadership team