Private Equity Advisory
Demonstrated consistent leadership in transactions involving financial sponsors
Highlights
- Advised on ~ 30 successful transactions with a cumulative value of over US$ 3 bn over the past ~5 years
- Instrumental in getting several leading funds to make their first investment into India
Formed in 2005, the Financial Sponsors Group (FSG) provides the full suite of investment banking advisory & execution services to leading global & domestic private equity, sovereign, venture, buyout, mezzanine and hedge fund clients. Primarily, FSG helps its clients identify, evaluate and tap investment & exit opportunities, while leading all aspects of deal structuring and negotiations (‘buyside advisory’). The team also provides independent advisory services to unlisted & listed companies looking to raise capital from funds (‘sellside advisory’).
FSG is a trusted advisor to most leading funds investing into India and takes a relationship rather than a deal specific approach to building and nurturing its relationships. The team also helps its fund clients & corporates leverage the vast sector & technical product expertise of the wider Kotak Investment Banking and Kotak Group platform.
Key Recent Deals
Kotak Investment Banking has worked with some of the leading names in private equity.
- Aakash Educational Services: In 2019, Financial Advisor to Aakash for partnership with Blackstone to build India's largest digitally enabled, omni-channel education company.
- Varthana: In 2018, Series C Equity Fundraise from ChrisCapital, US$ 54 million
- Piramal: In 2017, Investment in structured QIP by CDPQ, US$ 175 million
- Bharti Infratel: In 2017, Stake purchase in Bharti Infratel by CPPIB for US$ 300 million
- State Bank of India: In 2016, Financial Advisor to State Bank of India for divestment of 3.9% stake in its subsidiary, SBI Life Insurance, to KKR and Temasek for US$ 264 million
- Au Financiers (India): In 2016, Advisor to Au Financiers and Selling Shareholders for sale of 15.7% stake in Au to domestic investors for a consideration of Rs 7.5 billion to comply with the RBI's SFB Regulations of having domestic shareholding greater than 51%.
- Ujjivan Financial Services: In 2016, Financial Advisor to Ujjivan for Pre-IPO Investment, US$ 43 mn
- Overcart.com: In 2016, Exclusive Financial Advisor to Overcart.com, India’s first marketplace for over-stock, unboxed, refurbished, and pre-owned products, for a Series A fund raise from Omidyar Network and JSW Group’s Family Office.
- Bandhan: In 2015, Exclusive Financial Advisor to Bandhan, the largest microfinance institution in India, for preferential allotment to GIC, IFC and SIDBI, US$ 251 mn
- TPG Capital: In 2015, Financial Advisor to TPG Capital for investment in Manipal Health Enterprises, US$ 150 mn
- Silicon Valley Bank: In 2015, Financial Advisor for strategic sale of Silicon Valley Bank’s Indian NBFC to Temasek, US$ 47 mn
- Apax Partners: In 2014, Exclusive Financial Advisor for preferential allotment of CCPS by Cholamandalam to Apax Partners, US$ 83 mn
- Varroc Engineering: In 2014, private equity fund raise by Varroc Engineering from Tata Capital Opportunities Fund; US$ 50 mn
- Temasek: In 2014, Investment in StarAgri Warehousing and Collateral Management Ltd by Temasek, US$ 42 mn
- Kotak Mahindra Bank: In 2013, exclusive financial advisor for preferential allotment of 2.6% stake by Kotak Mahindra Bank to GIC Singapore, US$ 236 mn
- Marico: In 2012, financial advisor to Marico for preferential allotment to Indivest Pte Ltd and Baring India Private Equity Fund III Listed Investments Limited, US$ 100 mn
- Trivitron Healthcare: In 2012, exclusive financial advisor to Trivitron for private equity investment by Fidelity Growth Partners India, US$ 75 mn
- Super Religare Laboratories: In 2012, financial advisor to Super Religare Laboratories for private equity investment by Jacob Ballas and International Finance Corporation (IFC), US$ 67 mn
- TVS Logistics: In 2012, exclusive advisor to TVS Logistics for private equity investment by KKR and Goldman Sachs, US$ 52 mn
- Ujjivan Financial Services: In 2012, exclusive advisor to Ujjivan Financial Services for private equity investment by Wolfensohn Capital Partners and Netherlands Development Finance Company (FMO), US$ 26 mn
- KKR: In 2011, financial advisor to KKR for growth equity investment in Magma Fincorp Ltd. led by KKR, alongside IFC, US$ 97 mn
- Endurance Technologies: : In 2011, Sole Advisor for sale of Standard Chartered Private Equity's stake in Endurance Technologies Ltd to Actis Private Equity, US$ 71 mn
- Super Religare Laboratories: : In 2011, financial advisor for private equity investment in Super Religare Laboratories by Avigo and Sabre Capital, US$ 30 mn
- Muthoot Finance: In 2010, Financial advisor for private placement to Matrix Partners and Kotak Private Equity
- The Mobile Store: In 2010, Exclusive advisor for private placement of shares to IL&FS Private Equity, US$ 22 mn
Previous Deals
- Keystone Realtors (‘Rustomjee’): In 2009, Financial advisor for entity level private equity by Sun Apollo India Real Estate, US$ 60 mn
- FIITJEE: In 2009, Exclusive advisor for private placement of shares to Matrix Partners, US$ 20 mn
- Mahindra & Mahindra: In 2008, Exclusive advisor for private placement of 3.68% stake to Goldman Sachs, US$ 175 mn
- Mahindra & Mahindra Financial Services: In 2008, Exclusive advisor for preferential allotment to TPG Axon Capital and Standard Chartered Private Equity, US$ 104 mn
- Allcargo Global Logistics: In 2008, Financial advisor for investment by the Blackstone Group, US$ 80 mn
- Punj Lloyd: In 2007, Joint Book Runner for QIP (subscription by blue-chip PE investors), US$ 200 mn
- Goldman Sachs: In 2007, Exclusive Advisor for majority buyout transaction in Sigma Electric, US$ 172 mn
- Gokaldas Exports: In 2007, Exclusive Advisor for acquisition of controlling stake in Gokaldas Exports by Blackstone and Manager to the related Open Offer, US$ 165 mn
- Oberoi Constructions: In 2007, Exclusive Advisor for largest apex level real estate transaction - Investment by Morgan Stanley Real Estate, US$ 152 mn
- Nagarjuna Construction Company: In 2007, Exclusive Advisor for Private Placement to Blackstone, US$ 150 mn
- CAMS: In 2007, Exclusive Advisor for sale of part equity stake to Advent International
- Apollo Hospitals: In 2007, Exclusive Advisor for Preferential Allotment to Apax Partners, marking the entry of Apax Partners in India, US$ 104 mn
- Divyasree: In 2007, Financial Advisor for acquisition of minority stake by TPG-Axon, US$ 104 mn
- Aster Teleservices: In 2007, Exclusive Advisor for private placement of minority stake to Jacob Ballas and New Silk Route, US$ 59 mn
- Aster Infrastructure: In 2007, Exclusive Advisor for private placement of majority stake to New Silk Route in a buyout transaction, US$ 57 mn
- Luminous: In 2007, Exclusive Advisor for acquisition of minority stake by CLSA Capital Partners, US$ 20 mn
- INX Media: In 2007, Exclusive Advisor for Private Equity Placement to Temasek, New Silk Route, New Vernon, Kotak and SREI
- INX News: In 2007, Exclusive Advisor for Private Equity Placement to multiple investors
- Sanghvi Movers: In 2007, Transaction Advisor for negotiated PIPE deal by CLSA Capital Partners, US$ 16 mn
- Mantri Developers: In 2006, Exclusive Advisor for first apex level real estate transaction - Investment by Morgan Stanley Real Estate, US$ 68 mn
- Vimta Labs: In 2006, Exclusive Advisor for private placement by five global investors, US$ 17 mn
- SAIF Partners: In 2006, Exclusive Advisor for a negotiated PIPE deal in Jindal Poly Films, US$ 13 mn
- SAIF Partners: In 2006, Exclusive Advisor for investment in Just Dial, US$ 12 mn
- Hindustan Motors: In 2005, Exclusive Financial Advisor for 30% stake sale in component business to Actis, US$ 98 mn
- Warburg Pincus: In 2002, Transaction Advisor for acquisition of 5.33% stake in Satyam, US$ 75 mn
- General Atlantic Partners & Citigroup: In 2002, Transaction Advisor for investment in Daksh, US$ 23 mn
