VCCircle Private Equity Exits Conference 2014
Discovering the roadmap for high quality private equity exits in India
Private Equity exits, one of the core pieces of any PE business, has become the centre of discussions and strategies in the Indian PE industry today.
The majority of PE commitments to India have gone into 2005-08 vintage funds, which have translated into a huge portfolio of companies today. This coupled with - unexpectedly poor exit avenues, less support from promoters, continued pressure to return capital to LPs and the need for GPs to raise more funds - have shifted the Indian PE industry’s lens to focus on achieving immediate high quality private equity exits.
With Indian capital markets being disappointing for exits as compared to other markets, the local ecosystem has been gearing up for more and larger exits via secondary PE and M&A transactions. With some of the recent deals in these 2 categories, the trend is catching up across majority of all sectors and portfolio companies.
To debate and discuss the roadmap for generating high quality private equity exits, VCCircle presents this unique 1-day conference with participation from thought leaders, leading investors and the most active dealmakers in the ecosystem.
The full day summit will focus on: How do India private equity funds achieve high quality exits in 2014? What is the state of current portfolio companies in India - how are they rated in quality? Of the various exit strategies, which are the ones most suited for the India market and how will they evolve in the future? What are the growing opportunities for exits via PE secondaries and M&A transactions? Which are the sectors that will see most of these exits over the next 2 years? How do fund managers and companies prepare for exits from day 1 of the investment? Where do the deals get stuck - how to overcome them?
Join us for this full day summit as we discover the road map for high quality private equity exits in India.
For registrations , write to: Sandeep/ Shikhil at register@vccircle.com / 0120-4171111
For unique sponsorship opportunities, write to: vijay@vccircle.com ;
For suggestions on content / agenda / speakers, write to komal.shah@vccircle.com
8:30am – 9:30am
Tea & Registration
9:30am – 9:40am
Introduction Note
9:40am – 10:30am
Panel I: Where Are Indian Private Equity Exits Stuck?
How do India private equity funds achieve high quality exits in 2014? What is the state of current portfolio companies in India - how are they rated in quality? Of the various exit strategies, which are the ones most suited for the India market and how will they evolve in the future? Which are the sectors that will see most of these exits over the next 2 years? How do fund managers and companies prepare for exits from day 1 of the investment? Where do the deals get stuck - how to overcome them? What can the private equity investors do to improve its company’s exit prospects? What creates the best promoter-investor partnerships? How can an investor have its company’s corporate governance in control?
Shashank Singh - Partner, Apax Partners India Advisers Private Limited
Shomik Mukherjee - Partner, Actis Advisers Pvt. Ltd
Vikram Nirula - Partner, India Value Fund
Darshika Kothari - Partner, AZB Partners (Moderator)
Sector Focus Panels
Our special sector focus panels will cover the exit strategies suitable for each? How do you build companies for exits under each sector? What are the most suited exit strategies for each sector among M&A, PE secondaries, Capital markets, Promoter buyback and other options?
10:30am - 11:10am
Sector Focus I: Healthcare
Dr. Om Manchanda - CEO, Dr. Lal PathLabs Pvt. Ltd
Rajiv Sharma - CEO, Sterling Hospitals
Dr. B. S. Ajai Kumar - founder-chairman & CEO, HealthCare Global Enterprises Ltd.
Shantanu Rastogi - Principal, General Atlantic Pvt. Ltd (Moderator)
11:10am – 11:40am
Tea & Networking Break
11:40am – 12:25pm
Panel II: Capital Markets & Other Innovative PE Exit Strategies
Amid the uncertainty that we see at a global macroeconomic level, the only certainty ahead is that capital markets will continue to fluctuate. The pressure on GPs to exit will only grow in the coming year. What are the factors hindering the most favorable option-IPO exits? What can revive the lost flavor of PE-backed IPO exits? What is the scope for structured exits back to promoter? Are PIPEs in India here to stay as several attractive assets are unable to find the liquidity they need through public channels? Quick peek on: Break-ups, roll up, portfolio sale. Will India witness such mode of exits in coming years? What set of PE investors would wish to adopt such non-typical exit route and what are the pros and cons affecting these exit options?
Sanjay Kukreja - Managing Director, ChrysCapital Advisors Pvt Ltd
Anup Bagchi - MD & CEO, ICICI Securities Ltd (Moderator)
12:25pm – 12:55pm
Presentation: Tax & Regulation - Conquering The Final Frontier
Gautam Mehra - Executive Director, PricewaterhouseCoopers Private Limited
Harshal Kamdar - Associate Director - Tax and Regulatory Services, PricewaterhouseCoopers
12:55pm – 2:00pm
Lunch & Networking
2:00pm – 2:40pm
Sector Focus II: Infrastructure & Manufacturing
Hetal Gandhi - MD, Tano India Advisors Pvt Ltd
Abhinav Grover - DGM - M&A, Mahindra & Mahindra Ltd
Bobby Pauly - Partner, Tata Capital (Moderator)
2:40pm – 3:20pm
Sector Focus III: IT & Consumer Internet
Sharad Sanghi - CEO & MD, NetMagic Solutions Pvt. Ltd.
Krishnan Ganesh - Founder & Ex-CEO, TutorVista Global Pvt. Ltd
Subrata Mitra – Partner, Accel Partners (Moderator)
3:20pm – 3:50pm
Tea & Networking
3:50pm – 4:35pm
Panel III: Private Equity Secondaries
What is the total pool of funded portfolio companies suitable for secondaries? Which sectors do they lie in? What is the quality of these assets? What are the hurdles to some of these deals – how can investors overcome them? At what valuations are these deals available - are they justified? Do existing portfolio companies really have corporate governance in control? When is the right time to exit for a secondary transaction?
Rajiv Sahney - MD, New Vernon Private Equity
Bala Deshpande - Sr. MD, NEA (India) Pvt Ltd
Sunish Sharma - Managing Partner & Co-Founder, Kedaara Capital Advisors LLP
Raghunath T V - MD & CEO, Kotak Mahindra Capital Company (Moderator)
4:35pm – 5:20pm
Panel IV: Private Equity Exits Via Promoter Buyback
Are several PE funded companies taking recourse to a buy back strategy? What are the average returns investors can expect? When should promoters/investors consider buyback? Are management teams willing to utilize profit to fund the buy back? How can the promoter/management finance this strategy?
Rajiv Sharma - CEO, Sterling Hospitals
Shyam Sundar - Partner, IDFC Alternatives
Rajesh Shrivastava - Chairman & MD, Rabo Private Equity (Moderator)
5:20pm – 5:30pm
Concluding Remarks
5:30pm – 6:30pm
VCCircle Wine & Cheese
Continue the discussion & networking of the day with more social time with top investors, promoters and dealmakers over wine & cheese.
PwC helps organisations and individuals create the value they’re looking for, in a changing world. We’re a network of firms in 157 countries with more than 195,000 people who are committed to delivering quality in assurance, tax and advisory services. Tell us what matters to you and find out more by visiting us at www.pwc.com.
PwC India’s dedicated private equity practice, led by Sanjeev Krishan, comprises of over 20 partners and directors across service lines, supported by Gautam Mehra (Tax) and Dinesh Anand (Forensics). This practice provides services to cover every aspect of the private equity investment cycle and acts as a single point for services including background checks, financial and tax due diligence, transaction structuring, getting regulatory approvals and dispute resolution. What differentiates PwC's PE team is the core regulatory expertise, in-depth forensic capabilities intertwined with dedicated diligence practice with sector knowledge, for the PE life cycle.
In India, PwC has offices in Ahmedabad, Bangalore, Chennai, Delhi NCR, Hyderabad, Kolkata, Mumbai and Pune. For more information about PwC India's service offerings, please visit www.pwc.in.
Contacts:
Sanjeev Krishan
Leader, Private Equity & Transaction Services
sanjeev.krishan@in.pwc.com
Mobile: +91 98100 70689 / +91 98202 79123
Gautam Mehra
Leader, Financial Services - Tax & Regulatory Services
Gautam.mehra@in.pwc.com
Mobile: +91 9867033822, Land line: +91 22 66891155
Dinesh Anand
Leader, Forensic Services
dinesh.anand@in.pwc.com
Mobile: +91 9818267114
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.
Trident Nariman Point, Mumbai
Address:
Nariman Point, Mumbai
Maharashtra
Ph.: 022 6632 6310
Premier rooms available @ INR 7500 inclusive of breakfast
Drop us a line and we will call you.
