VCCircle Dealmakers’ Conclave 2011
Mergers and acquisitions (M&As), which stands at the top-end of the deal activity food chain, is a barometer of many corporate trends such as ambition, scale, size, consolidation, geographic reach, market access, capital-raising, foreign direct investment and so on.
Seen as mark of maturity, M&As constitute a significant landmark in any corporate’s life cycle as this is, often times, the only way to take the big leap as opposed to incremental growth. M&A triggers could be manifold: consolidation, market access, exit for investors, a solution to succession planning, foray into a new sector or unlocking value of assets and so on.
Once the strategic intent is established, a myriad deal-making situations and challenges come to the forefront right from finding the right candidate to due diligence to valuations to negotiations to deal closure to, most importantly, integration. Many a time, there have been regulatory and business environment concerns that have come in the way of blockbuster deals. So, clearly, all elements have to be in place for a deal to go through.
Over and above the complexity in deal-making, the global economic slowdown in the post-September 2008 period completely eroded corporate confidence sending deal activity to the lowest in the last four years at $16 billion in 2009. According to VCCedge data, there have been 576 deals valued at $47 billion in 2010 (till October) so far, three times the value in 2009, indicating that M&A activity is on a comeback trail posting its best performance in the last four years. Besides, there are still two months to go this calendar. Telecom, pharma and lifesciences and energy continue to account for blockbuster deals while M&A activity has gained phenomenal momentum across sectors as it comes after a period of lull.
Besides M&A, this slowdown has also placed increased impetus on the need for restructuring and deleveraging books. So, there is an uptrend in hiving off non-core assets, restructuring debt and reorganizing business. This, in turn, is adding to the M&A momentum.
In keeping with this dominant trend in the global and Indian market place, VCCircle is coming up with its pioneering forum for deal-makers in the M&A and restructuring space. The forum will not only discuss the latest trends and strategies in the M&A and restructuring world but will also be a structured opportunity to meet and network with best practitioners in the Industry.
8:30am to 9:30am
Tea & Registration
9:30am - 9:45am
Introduction Note
9:45am-11:15am
Panel I: The Big Deal Story: What does it take?
When are you ready for the bulge-bracket acquisition? How to find the right candidate? How to raise finances? How to swallow a big bite when you buy into a larger firm? How to tackle integration challenges? Does India Inc have a great appetite for large deals? How to tackle cross-border regulatory, human capital and cultural differences? How is restructuring and unlocking assets by India Inc triggering M&A activity?
Sanjay Bansal - MD, Ambit Corporate Finance (Moderator)
Rajesh Sahwney - President, Reliance Entertainment
Rajiv Saxena - Head M&A, Essar Group
Aditya Sanghi - MD, Investment Banking, Yes Bank Ltd.
Sumant Sinha - Chairman, Savant Advisers
11:15am - 11:45am
Tea & Networking Break
11:45am - 1:00pm
Panel II: Private Equity-Backed M&As: The beginning of the ‘control deals’ phase in India
-Leveraged buyouts/management buyouts: Are they on the rise and why?
-How do you compete with strategic investors who offer a greater premium?
-How critical is role of M&A for PE exits? How do you maneuver it?
-Will PE-backed control deals rise if the regulations are eased?
-Challenges of being on the driver seat in Indian companies.
Bhavesh Shah - Executive Director, JM Financial (Moderator)
Amit Chandra - MD, Bain Capital India
Sandeep Naik - Co-Head, Apax Partners
Carlton Pereira - MD, Tano Capital
Ashwani Khare - Director, Corporate Finance, KPMG India
Krishnava Dutt - Managing Partner, Argus Partners
1:00pm - 2:30pm
Lunch & Networking Break
2:30pm-3:45pm
Panel III: Mid-market Deals: The sweet-spot of India’s M&A story
- Not headline-creating, but is this the real M&A market?
- Family owned and first generation businesses in tier II and III cities are on the M&A radar. How to negotiate the challenges and complexities in such deals?
- What is the outlook on cross-border deal activity in the mid-market space? Which sectors will lead the trend?
- First generation entrepreneurs selling out businesses. Complexities in structuring deal particularly earn-outs in the case of management buyouts.
- Deal making is as much about valuations as about culture and DNA. How to tackle the softer side?
Gopal Srinivasan - MD, TVS Capital Funds Ltd. (Moderator)
C. Venkat Subramanyam - Founder, Veda Corporate Advisors
S. Balasubramanianm - CFO, Zensar Technologies
Annand Sarnaaik - Chairman & MD, Glodyne Technoserve Ltd.
Dr. Om Manchanda - CEO, Dr Lal Pathlabs
Vivek Gambhir - Chief Strategy Officer, Godrej Industries
3:45pm - 4:00pm
Tea & Networking Break
4:00pm-5:15pm
Panel IV: Initial Public Offering - Are we on a rebound?
- After touching a five year low in 2009, is Indian IPO market on a rebound?
- How long will the FII inflows continue to buoy Indian IPOs?
- Are retail investors sitting on the fence?
- An inside look at the book running and merchant banking in India
Munesh Khanna - MD, Investment Banking, Centrum Capital (Moderator)
Dr. S Subramanian - Head, Investment Banking, Enam Securities
Abhay Pandey - MD, Sequoia Capital
Yash Ashar - Partner, Amarchand Mangaldas
5:15pm onwards
VCCircle Unwind
VCCircle introduces Unwind, an informal networking zone over cocktails.
KPMG in India has a premier market position with private equity (PE) funds and we combine professionals from our Audit, Tax and Advisory practices and across industry sectors to serve more than 100 PE clients and more than 500 portfolio companies.
We combine a global perspective and in-depth knowledge to be a meaningful value-added partner with an array of service capabilities. Our PE group is well positioned to support PE funds on their India transactions, offering extensive services which include deal origination and support, valuations, financial, tax, integrity, business and commercial due diligence and creating progressive and efficient transaction structures.
Reflecting the needs of the current times, our PE Group is experienced in providing a range of services to nurture portfolio companies to create value. The wide range of post deal services includes accounting, risk and controls assessment, corporate governance, IT advisory, corporate and debt restructuring and cost optimisation.
KPMG in India has over 100 partners and more than 5900 employees in India across ten offices.
To access our 2011 India report "Returns from Private Equity", please visit www.kpmg.com/IN/en/IssuesAndInsights/ArticlesPublications/Pages/Returns-from-Indian-Private-Equity.aspx
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.
ITC Grand Central, Mumbai
ITC Grand Central, Mumbai
Contact: Business Attire
Distance: Dr Babasaheb Ambedkar Road, Parel, Mumbai
Drop us a line and we will call you.
