Introduction

News Corp VCCircle Mergers & Acquisitions Summit 2017
Are We A Mergers Over Acquisitions Market?

After the rollercoaster ride of 2016 that threw up bumps such as Brexit, Donald Trump’s victory in the US elections and Narendra Modi government’s demonetization drive, the year 2017 began with a big bang with two of the largest telecom companies in India joining hands for one of the largest and most strategic M&A deals in the recent years. Vodafone Group’s merger of Vodafone India with Idea Cellular kicked off the M&A activity in the first quarter that saw inbound deals going up 49% in comparison with the same period last year. The trend, indeed, boosts investor confidence in India as an M&A destination. The prominent sectors, this year so far, have been telecommunications, electronic components, pharmaceuticals, auto-parts and equipment.

Unlike last year where M&A exits superseded Open Market exits, the beginning of 2017 saw an opposite trend.

Moving beyond the headlines, the overarching drift of M&A activity in the recent past has been more about 'mergers' than 'acquisitions'. Year 2016 saw several Indian companies consolidating to add resources, build scale, stabilize and reduce the number of players fighting for the same share of pie as against overseas acquisitions, which haven’t seen much success. With the abolishment of FIPB, Indian government has signaled it will welcome foreign investors with open arms facilitating opportunities for growth and consolidation. In the coming months, as the government rolls out GST and there is more clarity on FDI regulation, not to forget our resilient economy and buoyant capital markets, the rest of 2017 seems promising for investors.

In the wake of this positivity, News Corp VCCircle is presenting its second edition of Mergers & Acquisitions Summit in July 2017, bringing together Corporates, Strategic Acquirers, Private Equity funds, Buyout & Stressed Assets Experts, Legal, tax & Due-Diligence experts under one roof to decode the M&A outlook for 2017 and delve on what it holds in store for businesses, investors and industry in general.

Key topics for discussion:
  • Consolidation at the Top Tier: What it means for Old & New Economy Businesses across sectors.
  • A patchy record of overseas acquisitions: Is string of pearls M&A strategy a better move?
  • Valuations menace: Many large MNCs are selling off their businesses in India and not pursuing any aggressive inorganic expansion. Is valuation to blame for the trend?
  • Strategic M&A vs PE buyouts: What would you pick?

Block your calendar for News Corp VCCircle’s yet again marquee conference defining M&A trends for 2017. Send in your interest at register@vccircle.com


Agenda

09:00am - 10:00am
Registrations & Networking

10:00am - 11:00am
Inaugural Panel: Are We a Mergers Over Acquisitions Market?
Merger & Acquisition activity in India perked up in the year 2016 thanks to a few multi-billion-dollar deals that companies struck either to slash debt or consolidate their market share. The number of M&A deals remained robust with 1,002 deals, with the corresponding deal value of $61.4 billion, hitting a five year high – a jump of 2.6 times in value from 2015. The largest M&A deals of 2016 were the acquisition of Essar Oil Ltd by Rosneft, Max Life Insurance Co. Ltd by HDFC Standard Life Insurance Co. Reliance & Aircel announcing the merger of their telecom business for $7.3 billion.

Trends indicate that the deal making in recent past has been more about 'mergers' than acquisitions. Deals such as HDFC Life and Max Life, Videocon d2h & Dish TV, Vodafone & Idea indicate companies consolidating to add resources, build scale, stabilize and reduce the number of players fighting for the same share of pie.

  • What does this mean for the deal making in 2017?
  • How will it impact the market leaders in core sectors?
  • What does this consolidation mean for old & new economy businesses?
  • How are regulatory reforms enabling these fast-track mergers?

Rahul Desai - Senior Vice President – Treasury, M&A & Investor Relations, Aditya Birla Fashion & Retail
Ananya Tripathi - SVP Planning and Strategy, Myntra
Mitesh Shah - Head of Finance, BookMyShow
Anand Bhadkamkar - Chief Financial Officer South Asia, Dentsu Aegis Network
Tarun Katial - CEO, Reliance Broadcast Network Limited
Anubhav Kapoor - General Counsel & Company Secretary, Tata Technologies
Shivani Bhasin Sachdev - MD&CEO, India Alternatives Investment Advisors (Moderator)

11.00am - 11.15am
Networking Break

11:15am - 12:15pm
Panel: A patchy record of overseas acquisitions: Is string of pearls M&A strategy a better move?
India’s business czars who made some of the biggest acquisitions in the last decade saw sacrificing their share of money invested in the foreign assets due to lack of business synergies and post integration challenges. But the recent trends suggest a stronger demand for domestic mergers resulting in consolidation within the respective industry. Havell’s acquisition of Lloyds’ in their consumer durables business, which promises double digit growth due to increased urbanization is a recent example reinstating our faith in consolidation among domestic players joining forces to serve the aspirational and expanding middle class. Can the string of pearls strategy support growth while increasing strategic agility and responsiveness to this unpredictable global environment? One and done strategy Vs String of pearls strategy is this the difference in approach between the Old and the New Economy?

While viewing inorganic growth as a portfolio of activities what are the things that organizations have in their mind today?

Shafaq Uraizee Sapre - Executive Partner, Lakshmikumaran & Sridharan attorneys
Sunil Mishra - Group Chief Strategy Officer, Housing.com, PropTiger.com & Makaan.com
Padma Parthasarathy - Senior VP & Global Head Consulting, Tech Mahindra
Chandru Chawla - Head - Corporate Strategy, M&A and New Ventures, Cipla
Anirudh A Damani - Managing Director, Artha India Ventures (Moderator)

12:15pm - 12:35pm
Special Address: M&A in Banking and Financial Services
Vishal Mahajan - President - Investment Banking, YES Securities

12:35pm - 12:55pm
Special Address: M&A in Information Technology Services
Sandeep Mantri, CFO, Datamatics Global Services

12:55pm - 02:00pm
Networking Lunch

02:00 pm - 02:45pm
Panel: Managing Human Resources during M&A
In the process of M&A, with all of the legal and financial issues to deal with, human resources are sometimes ignored, leading to decrease morale, productivity and exodus of key talent. Further, the new corporate entity is faced with challenges such as assuring current employees of the reason for M&A, integrating the corporate culture, avoiding duplicity in roles and functions and making exits easy and fair. This discussion will have some leading HR personnel narrating how to go about difficult aspect of acquiring, retaining and letting employees go.

Nivedita Nanda - CHRO, Kaya
Babu Vittal - Head HR, Shopclues
Ruhie Pande - CHRO, Godrej Properties
Sukhmeet Singh - Principal Career (Talent)Consulting and M&A Transaction Services Leader - India, Mercer
Nisheeth Jankar - Associate Partner - Strategic Advisory, Aon Hewitt (Moderator)

02:45pm - 03:05pm
Special Address: Accommodating cultural mix: How to get the best of both the entities
Tanushree Bagrodia - Chief Financial Officer& VP - IT, NRB Bearings

03:05pm - 03:25pm
Networking Break

03:25pm - 03:45pm
Special Address: From an investor's eye: M&A in Infrastructure: Renewable Energy, Roads & Highways
Aditya Aggarwal - Managing Director - Infrastructure Private Equity Fund and Head - Renewables, IDFC Alternatives

03:45pm - 04:30pm
Panel: Strategic M&A vs. PE/VC Buyouts
With the tables turned in the favour of PE/VC firms in a deal making process, how are they able
to achieve higher synergies compared to strategic buyers who understand the industry better? PEs/VCs are showing a preference for control deals as they believe they have the operational experience to show higher returns and guide outcomes though their implementation strategy and then exit. While India has been a minority growth market, PEs/VCs see this as a window of opportunity as the corporate world is over leveraged and promoters pare stakes in the company to cut their debts. What are the advantages that PE/VC firms bring during an investment process allowing them to win competitive auctions over strategic buyers? How do we this emerging in 2017 with the current situation of stressed assets?

Pritesh Vinay - Vice President - Finance & Group Investor Relations, JSW Group
Satish Kishanchandani - Co- Founding Partner, DSK Legal
Imran Jafar - General Partner, Gaja Capital (Moderator)


Speakers

Image

Aditya Aggarwal

Managing Director - Infrastructure Private Equity Fund and Head – Renewables, IDFC Alternatives
Image

Anand Bhadkamkar

CFO South Asia, Dentsu Aegis Network
Image

Anirudh A Damani

Managing Director, Artha India Ventures
Image

Ananya Tripathi

SVP Planning & Strategy, Myntra
Image

Anubhav Kapoor

General Counsel and Company Secretary, Tata Technologies
Image

Babu Vittal

Head HR, Shopclues
Image

Chandru Chawla

Head - Corporate Strategy, M&A and New Ventures at Cipla, Cipla
Image

Imran Jafar

General Partner, Gaja Capital
Image

Mitesh Shah

Head of Finance, BookMyShow
Image

Nisheeth Jankar

Associate Partner, Aon Hewitt
Image

Nivedita Nanda

CHRO, KAYA Ltd
Image

Padma Parthasarathy

Senior VP & Global Head Consulting, Tech Mahindra
Image

Pritesh Vinay

Vice President - Finance & Group Investor Relations, JSW Group
Image

Rahul Desai

Senior Vice President - Treasury, M&A & Investor Relation, Aditya Birla Fashion & Retail
Image

Ruhie Pande

CHRO, Godrej Properties
Image

Sandeep Mantri

CFO, Datamatics Global Services
Image

Satish Kishanchandani

Co- founding Partner, DSK Legal
Image

Shafaq Uraizee Sapre

Executive Partner, Lakshmikumaran & Sridharan attorneys
Image

Shivani Bhasin Sachdeva

MD & CEO, India Alternatives Investment Advisors
Image

Sukhmeet Singh

Career (Talent) Consulting and M&A Transaction Services Leader – India, Mercer
Image

Sunil Mishra

Group Chief Strategy Officer, Housing.com, PropTiger.com and Makaan.com
Image

Tanushree Bagrodia

CFO & VP- IT, NRB Bearings
Image

Tarun Katial

CEO, Reliance Broadcast Network Limited
Image

Vishal Mahajan

President - Investment Banking, YES Securities

Our Sponsors & Partners

Session Partner

Want to be part of it?

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.


Venue :

Four Seasons Hotel, Mumbai

Date: July 31, 2017
Venue: Four Seasons Hotel, Mumbai


Do you have any queries?

Drop us a line and we will call you.