January, 2008 | Dalal Street

Private Equity + VCs Activity in 2007

January 17, 2008April 19, 20203 min read

Our Analyst tracking the IPO market has done an excellent job by maintaining a spreadsheet of all the IPOs which were backed by Private Equity and Venture Capital players.

Other than Genpact [Indian company but IPO was in the US] all the following companies were funded by either PE or VC or Both.

Edelweiss Capital:
Edelweiss had raised $50 million via a pre-IPO placement in July from Sequoia Capital India, Lehman Brothers, Galleon Partners and Shuaa Capital. GIC and Galleon Partners have been investing into the company since 2006. Greater Pacific Capital’s investment in October 2005 provided exit for a prior investor Connect Capital. Americorp is another early investor in Edelweiss. (more…)

Breaking Corporate India Earnings News

Patel Logistics MOU with Eicher Motors

January 17, 20081 min read

Patel Integrated Logistics (PILL) has announced that the company has entered into an exclusive MOU with Eicher Motors, to initially purchase 225 trucks for a consideration of about Rs 20 crore for various types of vehicles ranging from 3 tonners to 16 tonners. PILL will also be additionally acquiring & strengthening its own fleet in line with its vendor acquisition strategy in India.

The MOU also entails acquisition of additional trucks for its 126 vendors who supply about 756 vehicles, which is exclusively deployed for PILL’s requirements. PILL will have an understanding with its vendors to only use mainly Eicher Trucks for all its new routes, which is being contemplated & implemented. Further more, PILL will ensure that any trucks over 3 – 4 years will be replaced with new Eicher Trucks, for all its long haul routes. This will make Eicher Motors our preferred supplier of vehicles, for the range of vehicles manufactured by them Vehicles being purchased from Eicher Motors.

India IPO Reviews and Updates

Anil Ambani’s Dirty Power IPO – Energy Bubble

January 17, 20082 min read

Indians are blind and mad about the Reliance brand. At a time when the Western world is increasingly protesting against Dirty Coal Plants, Anil Ambani’s Reliance Power wants to establish half a dozen such coal plants in India, making our lives a HELL. Google board member, John Doerr is willing to fund any alternative energy that can shut down coal plants. Anil Ambani must sacrifice his greed [to beat Mukesh Ambani’s Wealth] which he has carefully put across Indians as Roti, Kapda, Makaan aur Power/Bijli and cheating the Indian investor by raising Rs 11,000 crore. (more…)

India IPO Reviews and Updates

Future Capital – 133 times subscribed

January 16, 20081 min read

The IPO of Future Capital Holdings was oversubscribed in a MAD RUSH by FIIs and Retailers by more than 133 times at 21:30 hours on the closing day.

1 Qualified Institutional Buyers (QIBs) 180.7221 Times
2 Non Institutional Investors 84.3815 Times
3 Retail Individual Investors (RIIs) (more…)

Equity Research

Exide Industries – Powering Your Portfolio

January 16, 20081 min read

The company expects to benefit from decline in lead price in LME to US$2,532/t in Dec07 from a peak rate of US$3,666/t in Oct07 from Jan08 onwards.The company expects its average cost lead to be benchmarked to around US$2,500/t in Q4FY08E, which is 21% lower than its average benchmark cost of US$3,200/t.

Q3FY08 PAT at Rs552mn, is up 58% y-o-y, about 8% below our estimate. The company absorbed the impact of 115% y-o-y increase in lead cost and improved its EBITDA margin by 20bp y-o-y to 15.1% thanks to pricing power. (more…)

Breaking Corporate India Earnings News

Gandhi Special Tubes Stock Split

January 16, 20081 min read

The board meeting of Gandhi Special Tubes will be held on 23 January 2008 to consider and approve the un-audited financial results for the quarter ended on 31 December 2007. They will also consider and declare interim dividend for the financial year ending on 31 March 2008 and to consider stock split.

The board meeting of Anjani Synthetics will be held on 18 January 2008 to allot bonus equity share in proportion of 1:1 to the shareholders of the company.

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