Mergers & Acquisitions Summit 2019
Dealmaking in India hit a record high last year, crossing the psychological milestone of $100 billion for the first time ever. This was led by mergers and acquisitions (M&As). Rising appetite of not just established companies but also venture funded startups looking for newer growth planks, opportunity thrown up by the stressed assets piece as well as PE funded platforms created with a buy-to-build strategy is expected to drive M&A momentum in the future as well.
One notable feature of the recent M&As has been the wide sectoral spread straddling internet, telecom, petrochemicals, metals, pharmaceuticals, renewable energy, IT, consumer goods and engineering sectors. This has added more vibrancy to the dealmaking ecosystem compared to the past where large deals in selective sectors like telecom and energy among few others used to dominate.
Another factor has been the rise of more buyouts and emergence of PE vs strategic buyers contest for M&As.
As more stressed assets come under the hammer, strategic acquisitions will also get a leg up, especially in the mid-market space.
Since January, large M&A deals have been struck in housing finance, IT, textiles, pharma, dairy, education, internet, auto parts among other spaces. There has been 282 M&A deals worth over $11 billion, according to VCCEdge, the data platform of Mosaic Digital.
To discuss the emerging opportunities and challenges, learnings from past moves that worked as well as those that didn’t, Mosaic Digital, the corporate banner behind VCCircle.com, is organising its next edition of M&A Summit on 26th June at Hotel Four Seasons in Mumbai.
8:30AM- 10:00AM
Registration & Networking
10:00AM - 10:05AM
Opening Address
Shalil Gupta, CBO, News Corp Mosaic Digital
10:05AM - 10:35AM
In Conversation: Serial entrepreneur Yogesh Mahansaria on build and buy strategy
Yogesh Mahansaria, Serial Entrepreneur (Co-founder Alliance Tire Group, Mahansaria Tyres; former co-promoter Balkrishna Inds) in conversation with Ranjani Raghavan, Associate Editor, VCCircle
10:35AM – 11:20AM
Panel Discussion: Crystal gazing: Big buy or string of pearls
As Indian companies grow big they face the question of whether to buy a large asset in a developed market or strike a number of smaller deals domestically. Big asset catapults the size but comes saddled with the challenge of low growth thereafter and an inherent risk of sinking the mother ship. How should companies balance investor expectations with these two choice sets? Inbound M&A interest has been declining as MNCs focus on their core markets but then Walmart makes its biggest ever acquisition in India. Is it an outlier? How to read the inbound acquisition interest of MNCs?
Anil Raibagi, Senior Vice President and Global Head– M & A, Wipro Limited
Manas Datta, Group CFO, Wockhardt
Subrata Kumar Nag, Group CEO & Executive Director, Quess Corp Limited
Vijay Paradkar, VP - Mergers & Acquisitions, Mahindra & Mahindra Ltd.
Moderator: Bruhadeeswaran R, Assistant Editor, VCCircle
11:20AM - 11:45AM
Networking over Tea/Coffee
11:45AM - 12:30PM
Panel Discussion: Due diligence
One of the most critical factors determining the success of an M&A deal is how clearly the acquirer has mapped out strategic benefit from the acquisition and the red herrings of the target. What are the new due diligence tools to make a stronger business case for an acquisition? What are the more common emerging factors to watch out before giving a clean chit for a deal?
Devki Nandan, SVP & Head - M&A, JSW Infrastructure Ltd.
Vikas Wadhawan, CFO, Proptiger
Roopal Kulsrestha, Partner - M & A, Private Equity & General Corporate, Shardul Amarchand Mangaldas &Co
Moderator: Varsha Jhawar, Head - M&A and Investment Banking, Alantra India
12:30PM - 01:15PM
Panel Discussion: PE buyout vs strategic M&A contest
As buyouts gather pace, PE firms are often pitched against strategic buyers. What differentiator can a PE firm bring to the table as against a natural fit from a strategic buyer? How does such a contest affect valuation? Are PE firms at a natural disadvantage? Some buyout firms are also increasingly partnering strategic partners for M&As, is that a trend to watch out for?
Gautam Gode, Co-Founder & MD, Samara Capital
Vikram Narula, Co-MD, The Carlyle Group
Sumit Jalan, MD, Credit Suisse Asia Pacific
Iqbal Khan, Senior Partner - Private Equity, M & A & General Corporate, Shardul Amarchand Mangaldas &Co
Sourav Das, Sr Finance Manager – Mergers & Acquisitions, Hindustan Unilever Limited
Moderator: Ankit Doshi, Special Correspondent, VCCircle
01:15PM -03:00PM
Networking Lunch & Close of Conference
Yogesh Mahansaria started his career in 1993 as an industrial trainee at Balkrishna Industries Ltd. Thereafter, he was given responsibility for business development at the tire business, wherein he identified the opportunity to enter the global market for Off-Highway Tires and was then tasked with implementing this strategy.
In 2000, he was appointed CEO of the tire business, a position he held till 2006; during this time, he drove the increase in revenues for the tire business from $20 million to $125 million, and increased profitability significantly. In 2006, Yogesh and his father got together with Warburg Pincus LLC to establish Alliance Tire Group, with the acquisition of Alliance Tire Company, in Israel. This was followed by the establishment of ATC Tires Pvt. Ltd, to set up a greenfield Off Highway
tire manufacturing plant in South India, and subsequently, the Group acquired the Off-Highway Tire distribution assets and brands of GPX International Tire Co of the USA in 2009.
In a short span of time, Yogesh has been able to build the Group from an idea into one of the world leaders in Off-Highway tires, with revenues approaching $600Mn, a team of 5000 employees and network of over 2200 customer across 120 countries. On 1st July 2016, The Yokohama Rubber Co. Ltd, Japan, one of the world’s leading tire & rubber group acquired 100% equity of ATG from KKR, the Mahansaria Family & other shareholders.
Presently, in addition to managing his Family Office, he has also incubated a new venture – Mahansaria Tyres Private Limited (MTPL), to focus on manufacturing opportunities in tire and rubber space. He also serves as a Director on the Boards of – Avendus Capital Pvt Ltd (Leading financial services provider, focussing in areas of financial advisory, capital markets, wealth management and alternative asset management) FSN E-Commerce Ventures Pvt Ltd (Operator of online beauty & wellness store, nykaa.com) 321 Education Foundation (Philanthropic organization, focused on improving the quality of education for children of low-income communities)
Vijay Madhav Paradkar is Vice President for Mergers and Acquisitions at Mahindra & Mahindra Ltd where he is responsible for all M & A, JV, Disinvestments, and PE investment of the company. He has 32 years of experience in the areas of Institutional & Corporate Finance, Fund Management, PE Investment, Investment Banking and M&A. Vijay has handled famous transactions like Kinetic Motors asset disinvestment, acquisition of Reva Electric Car co., restructuring of Renault JV and many cross border transactions in countries such as Australia, Italy, UK, Spain, Japan etc.
Vijay is also part of visiting faculties at renowned management institutes such as BSE Training Institute, JBIMS, MET & Welingkar Institute. A Mechanical Engineer by profession, Vijay also holds a Masters in Management Studies.
@paradkar_vijay
Mr. Anil Raibagi is Vice President and Global Head of Mergers and Acquisitions at Wipro Technologies. In this role, he is responsible for crafting as well as implementing Wipro’s inorganic growth Strategy. He is based out of Wipro’s corporate office in Bangalore.
In a diverse career spanning over 20 years, Anil has made a significant contribution to multiple roles across sales, operations, finance, P&L management, strategy and M&A. In his prior role, Anil had an opportunity to run a Wipro’s newly acquired company in financial services space. He was based in US as a CEO of this company and grew the business over 200% of its original size, in a short span of 3 years. He joined Wipro 10 years back, in year 2002 and has been a poster boy of blending business understanding with finance acumen. He was instrumental in building Wipro’s total outsourcing business from scratch and led a sales team which secured over US 1.2 Billion in contact value for Wipro.
Anil also worked with IBM and Ceat financial services Ltd. prior to joining Wipro. At IBM, he was part of Global financing as well as Strategic Outsourcing business and worked on financial structuring & asset solutions as part of large IT Outsourcing contracts. Ceat financial was his first job where he began as management trainee in 1992. When he left Ceat, he was heading the most profitable southern region and oversaw various corporate and mid - market financing projects.
Anil has done Master of Business Administration in Finance and graduation in Advanced Statistics.
Subrata Kumar Nag is the Group CEO & Executive Director of our Company. A seasoned finance professional with over three decades of experience, he is responsible for implementing the Company's overall long and short term strategies.
He has been a part of Quess since 2008. Prior to joining us, he was the Vice President – Finance and Company Secretary of Ilantus Technologies Private Limited. He holds a Master’s Degree in Business Management from the University of Calcutta and is qualified from the Institute of Company Secretaries of India (ICSI).
Manas Datta, Group CFO of Wockhardt has rich experience of 30 years in the field of Corporate Finance, Treasury, M&A, Taxation etc. in large Indian conglomerates like AV Birla Group, Chambal Fertilisers, The Oberoi Group.
Mr. Datta has been instrumental in Transformational Change Management in MIS, Business Planning and reporting in Wockhardt and has extensive experience in capital / debt raising in Domestic and international markets.
A Cost Accountant by training and Alumnus of IIM (Ahmedabad) Mr. Datta is also an avid reader and loves to watch Soccer. He is also an ardent fan of Kishore Kumar.
Consecutively in March 2016, March 2017 & March 2018, Mr Datta has been conferred with "Role of Honour for CFO 100" for exceptional calibre and contribution to the world of finance by CFO India. He was conferred with “Most Influential CFOs of India” by Chartered Institute of Management Accountants (CIMA) in June 2016. Mr. Datta has also been awarded the “Best CFO With Exemplary All Round Performance - 2016 ” in Asia CFO Excellence Award presented by CMO Asia on 5th August 2016 in Singapore. Mr. Datta has also been awarded the ‘Super Achievers Awards for CFO Of The Year - 2016’ by the Stars in the Industry Group on November 2016 and also October 2017. He was also honoured with ‘Indira Brand Slam CFO Leadership’ award on 26th September 2017 at a glittering ceremony at Indira Group of Institute – Pune.
Mr. Datta has also been awarded the “Best CFO With Exemplary All Round Performance” - 2018 in Asia CFO Excellence Award presented by CMO Asia on 1st August 2018 in Singapore.
Vikas is a Chartered Accountant and CPA (USA) with extensive experience in Mergers & Acquisitions, Business Partnering, Fundraise, Capital Structuring & Investor Relations. He is an innovative results driven leader in the digital industry and has a sharp strategic vision and simultaneously embraces the financial and commercial elements of running a business.
Joined PropTiger.com as part of the founding team in 2011, Vikas has 17+ years of experience in financial management. He has been instrumental in the organic and inorganic growth of Elara Group. He has extensive exposure in fostering robust growth and transforming brands through strategic thinking and restructuring. In the Last 11 years he has been associated with the tech start-ups and participated in scaling the business from the early stage.
Sumit Jalan is a Managing Director of Credit Suisse in the Asia Pacific Division, based in Mumbai. He is Co-Head of Investment Banking and Capital Markets, India.
Mr. Jalan is responsible for Corporate Coverage, Origination and Execution for M&A, Equities and Financing in India. Mr. Jalan joined Credit Suisse in 2010 from Bank of America Merrill Lynch, where he was responsible for origination in Equity Capital Markets. Prior to that, he worked at CLSA for over 5 years and with Goldman Sachs in London and New York.
Mr. Jalan holds a Master’s Degree in Business Administration from the Indian Institute of Management, Ahmedabad, India.
Varsha Jhawar heads the India of Office of Alantra - a leading global investment bank, focusing on the mid-market, with offices across Europe, the US, Latin America and Asia. Alantra has more than 500 professionals across the globe providing independent advice on Mergers & Acquisitions, Debt Advisory, Financial Restructuring, Credit Portfolio and Capital Markets Transactions.
Varsha has over 13 years of experience across services in investment banking - M&A, private equity fund raising, debt capital raising, valuations and due diligence. She has been with Alantra since 2012 (as part of C.W.Downer & Co) and prior to that was working with BDO Consulting. She has worked on transactions across industries like Packaging, BPO, IT Services, Industrials, Logistics, Food and food Ingredients, Automotive and Aerospace Components, Consumer Products and Services, etc. She is a Chartered Accountant by profession.
Vikram Nirula is a Managing Director of the Asia Buyout advisory team, focusing on investment activities in India. He is based in Mumbai.
Prior to joining Carlyle, Mr. Nirula was a Partner at True North Managers LLC (formerly India Value Fund Advisors) for over 18 years. As part of True North’s founding team, Vikram was involved with the firm strategy, building its team and managing investor relationship. He led investments across diverse industries, including consumer, financial services and industrials and served on the Boards of several portfolio companies.
Vikram has received his post-graduate diploma in management from the Indian Institute of Management in Bangalore and has a Bachelor's Degree in engineering (computer science) from Birla Institute of Technology.
Roopal Kulsrestha, is a Corporate, M&A and PE Partner based out of the Mumbai office of the Firm. She has extensive experience in cross border M&A / private equity deals across a range of sectors including insurance, real estate, hospitality and infrastructure. Roopal has also advised clients in public M&A acquisitions in listed Indian companies.
Roopal actively represents various private equity funds and large corporate clients on transactional and advisory matters. Her key clients include, Brookfield Asset Management, Blackstone (real estate), L Catterton, Liberty Mutual Group, Tyson Inc., IKEA and Sumitomo Chemicals Co Limited.
Roopal has featured in RSG India Report, 2017 and been recommended for “Corporate” and described as “having ‘a keen eye for detail’ with ‘a fantastic grip over all the moving pieces of a transaction”. She has also been called a ‘reliable lawyer’ with good legal expertise. Recent articles include, “Issues in reclassification of listed companies’ promoters”, “Conundrum of funding for insurance companies” both published in the Asia Business Law Journal.
Iqbal has a J.D. from the Columbia Law School, New York, and an LL.B. from the London School of Economics and Political Science, England. After graduating and before moving to India and helping Shardul build the Mumbai office, he worked at Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, and then at Kirkland & Ellis LLP, New York for approx. 6+ years, respectively.
At SAM, Iqbal represents some of the largest global PE funds, such as TPG, Rise, Apax, Temasek, Varde and Goldman Sachs, and strategics in India, such as L&T, Asian Paints and Sumitomo. Iqbal has also done the largest LBO deal in India till date (Apax’s PIPE transaction in iGate and the follow-on acquisition of Patni (approx. USD 2.6 billion)), and over the last year he has done one of the: (i) largest direct FDI deals in India (represented L&T in its divestiture of the Electrical and Automation business through a competitive auction process to Schneider (transaction value approx. USD 2.2 Billion)); (ii) largest medical devices transaction in India (represented TPG in its sale of Healthium to Apax (approx. USD 300 million)—India’s first successful dual track exit); and (iii) one of the largest healthcare portfolio acquisitions globally (represented TPG and Rise in its acquisition of Abraaj’s global healthcare portfolio and in the Care Hospital sponsor buy-out).
Vijay is the Vice- President & Head of Mergers and Acquisition at Corporate Mahindra & Mahindra Limited, where he is responsible for all M&A, JV, Disinvestments, and PE Investments activities of the Group.
At M&M, Vijay has handled various IB transactions like acquisitions of Kinetic Motors, Reva Electric Car Co., Ssyangyong Motors, Pininferina, Engines Engineering, BSA, Jawa Brand, Gippsland Aero, Aerostaff Australia, Peugeot Motocycles, Sampo Rosenlaw ( Ag Equipment), 2 Tractor Cos in Turkey, HCR (largest time sharing resort in Europe), Largest Fruit Distributor in Europe etc spanning over other countries such as in Australia, Italy, France, UK, Spain, Japan, S Kores, Finland, Netherland, China, Brazil etc., JVs with Mitsui & Sanyo for Steel business, JV with Chinese Co for Steel Processing, Restructuring of Renault JV, Mergers / Demergers of 2 Wheeler, PV, Trucks & Buses businesses. Invited PE investments in the Sectors/ Businesses such as Aerospace, Insurance Broking, Used Cars, Steel, Agri etc. He led the team which completed over 130 deals over past 12 years involving a commitment of funds of over $ 5 Billion
He has 35 years of experience in the areas of Institutional & Corporate Finance, Funds Management of Proprietary Fund & Venture Fund, Investment Banking and M&A. Represented on the board of few listed & unlisted Cos. Curious Student of Stock markets.
He is also a Visiting Faculty at Prestigious Management Institutions.
He is a Mechanical Engineer by profession and also holds a Masters in Management Studies. He has also undergone Executive Programs of American Institutions such as Ross Michigan School of Business, Harvard Business School & New York Institute of Finance.
Shardul Amarchand Mangaldas, founded on a century of legal achievement, is one of India’s leading full service law firms. Our mission is to enable business by providing solutions as trusted advisors through excellence, responsiveness, innovation, and collaboration.
\r\n\r\nWe are one of India’s most well recognised firms, and are known globally for our integrated approach. We are one of India’s most well recognised firms, and are known globally for our integrated approach. Our 520 lawyers including 111 partners provide exceptional services across practice areas which include General
\r\n\r\nCorporate, Merger & Acquisition, Private Equity, Banking & Finance, Insolvency & Bankruptcy, Competition Law, Dispute Resolution, Projects & Project Finance, Capital Markets, Tax, Intellectual Property and Venture Capital.
\r\n\r\nWe are at the forefront of global and Indian M&A and private equity transactions, cutting edge high risk litigation and advice on strategically important matters across a spectrum of practices and industries for our multi-jurisdictional clients.
\r\n\r\nWe have a pan India presence, with offices in seven cities across India – New Delhi, Mumbai, Gurugram, Bengaluru, Chennai, Ahmedabad and Kolkata.
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\r\n\r\n• General Corporate
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\r\n• Projects and Project Finance
\r\n• Capital Markets
\r\n• Tax
\r\n• Intellectual Property
\r\n• Venture Capital
VCC Events opens up the avenues for participation. Join hands to be a part of India’s largest gathering of alternative investments leaders, industry stakeholders and Asia’s influential limited partners, general partners and marquee advisors. Your chance to actively participate and augment yourself as thought leaders.
Four Seasons Hotel, Mumbai
Date: June 26, 2019
Venue: Four Seasons Hotel, Mumbai
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