Mergers and Acquisitions
Successfully advised on some of the largest & most complex M&A transactions in India
Highlights
- Advised on some of the largest and most complex M&A transactions of every type in India.
- Consistently ranked high on the M&A advisory league tables.
Kotak Investment Banking has demonstrated its leadership in M&As by successfully advising on some of the largest and most complex M&A transactions of every type in India. The team has a wealth of experience and offers in-depth M&A advisory expertise and deal execution skills across a broad spectrum of products & services.
Kotak Investment Banking has significant experience in all types of M&A transactions including acquisitions, divestments, cross border transactions, restructuring advisory, buybacks, defence strategy advisory and open bidding.
To see a snapshot of our landmark M&A transactions, click here
Key Recent Deals
Some of Kotak Investment Banking recent deals are given below
Buy-side Transactions
- Bombay Stock Exchange: In 2010, exclusive advisor to BSE for acquisition of majority control in CDSL
- Mahindra: In 2010, exclusive advisor to M&M Limited for acquisition of ~5.5% stake in Tech Mahindra Limited from BT Telecommunication, US$ 101 mn
- Cipla: In 2010, exclusive advisor to Cipla Limited for acquisition of Meditab Private Limited, US$ 29 mn
- Tech Mahindra: In 2009, Tech Mahindra acquired Satyam Computer Services for US$ 591 mn. Kotak provided the entire suite of services from advisory and financing to execution and open offer management
Sell-side Transactions
- Ispat Industries: In 2010, exclusive financial advisor to Ispat Industries for strategic stake sale to JSW Steel through a preferential issue of shares, US$ 480 mn
- Kotak Mahindra Bank: In 2010, Financial Advisor for preferential allotment of 4.5% stake by Kotak Mahindra Bank to SMBC, a unit of Sumitomo Mitsui Financial Group, US$ 297 mn
- Cipla: In 2010, exclusive financial advisor to Cipla for sale of all Intellectual property rights in India related to Cipla’s "i-pill" brand to Piramal Healthcare for an aggregate consideration of US$ 21 mn
- Nelco: In 2010, exclusive financial advisor to Nelco for sale of Traction Electronics, SCADA and Industrial Drives businesses, as a going concern, to Crompton Greaves for approximately US$ 20 mn.
Restructuring Transactions
- Orient Paper & Industries Limited: In 2011, Exclusive Restructuring Transaction Advisor to Orient Paper & Industries Limited for the demerger of cement business
- Jubilant Organosys: In 2010, Business Restructuring and Fairness Opinion
- DLF: In 2009, transaction advisor and independent valuer for the integration of promoter held Caraf Builders & Constructions Private Limited (along with DLF Assets Private Limited - DAL) with DLF Cyber City Limited, a wholly owned subsidiary of DLF
- Reliance: In 2009, in the largest-ever M&A transaction in the history of corporate India, Kotak acted as transaction advisor for the amalgamation of Reliance Petroleum Limited with Reliance Industries Limited in a US$ 1752 mn deal
- Godrej Consumer Products: In 2009, transaction advisor and provider of fairness opinion for the consolidation of Godrej Group’s FMCG business into Godrej Consumer Products Ltd. Deal size worth US$ 160 mn
Cross-Border Transactions
- Kokuyo - Camlin: In 2011, Kokuyo Co., Ltd., a Japanese stationery and furniture products player, acquires a majority stake in Camlin. Kotak Investment Banking and GCA Savvian Corporation (GCAS) were the Exclusive Financial Advisors to Kokuyo for the transaction. Kotak and GCAS have an exclusive strategic co-operation agreement to advise Indian and Japanese companies on cross-border mergers and acquisitions between the two countries.
- SBS Holdings: In 2011, SBS Holdings Inc acquired 80% stake in Atlas Logistics Limited. Kotak Investment Banking and GCA Savvian (our alliance partner) jointly advised SBS Holdings on the transaction.
- Tube Investments of India: In 2010, Tube Investments of India (TII), a Murugappa Group company, acquired 77% stake in Sedis, a leading European manufacturer of industrial and auto chains based out of France. Kotak Investment Banking was the exclusive financial advisor to TII
- CRH: In 2008, managed the entry of buildings materials major, CRH, into India by acquiring a 50% stake in My Home Industries for US$ 448 mn
Open Offers /Delisting Transactions
- iGate: In 2011, manager to the open offer for Patni Computer Systems Limited consequent to acquisition of controlling stake, US$ 303 mn
- Camlin Ltd: In 2011, manager to the Open offer for Camlin Limited consequent to acquisition of controlling stake by Kokuyo Group, US$ 36 mn
- Tyco Electronics: In 2011, managed the Open offer for ADC Telecommunications Limited pursuant to global acquisition of ADC by Tyco
- Religare Enterprises: In 2010, managed Religare Enterprise’s open offer, US$ 465
- Nirma: In 2010, manager to the delisting offer for Nirma Limited in order to take the Company private, US$ 174
- Huber Group: In 2010, manager to the delisting offer for Micro Inks Limited, US$ 87 mn
- Tech Mahindra: In 2009, advised Tech Mahindra on its open offer for Satyam Computer Services in a deal worth US$ 240 mn
Buyback Transactions
- Piramal Healthcare: In 2010, Manager to buyback of equity shares, US$ 551 mn
- Zensar Technologies: In 2009, buyback of equity shares, US$ 9 mn
- Abbott Laboratories: In 3 separate years, Kotak Investment Banking conducted buyback of equity shares, to the tune of US$ 60 mn
Landmark Transactions
- Kokuyo - Camlin: Joint Venture between Kokuyo Ltd. and Camlin Ltd
- iGate: Open Offer for Patni Computer Systems Limited consequent to acquisition of controlling stake (US$ 303 mn)
- Ispat Industries: Preferential Issue of Equity Shares to JSW Steel; First of its kind partnership between two domestic steel majors (US$ 480 mn)
- Monnet Power Company: Private Placement of 12.5% stake to Blackstone Capital Partners (Mauritius) Limited
- GMR Energy: Private Placement of convertible shares to Temasek Holdings, the investment arm of the Singapore Government (US$ 200 mn)
- Zee: Zee Entertainment Enterprises Limited acquired 6 regional channels from Zee News Limited
- Tech Mahindra: Acquisition of control of Satyam Computer Services Limited by Tech Mahindra Limited through a competitive bidding process, US$ 591 mn
- Reliance Industries and Reliance Petroleum: Largest ever M&A transaction in the history of Corporate India, US$ 9.4 bn*
- Mahindra & Mahindra: Acquisition of 51% stake by M&M in China’s 3rd largest tractor company
- CRH: Entry of building materials major, CRH, into India, US$ 825 mn
- Thomas Cook: Acquisition of upto 74.9% stake (including Open Offer) in Thomas Cook (India) Limited and 100% stake in Thomas Cook Egypt and Thomas Cook Lebanon, US$ 382 mn
- Wal-Mart: Entry of Wal-Mart into India and JV with Bharti Group
- SREI - BNP Paribas: Largest M&A transaction in the NBFC sector
- Bombay Stock Exchange: First and only demutualization of stock exchange in India, US$ 500 mn
- Anchor - Panasonic: Largest Japanese investment in India at the time of the deal, US$ 480 mn
- Hutch - Vodafone: Largest telecom M&A transaction at the time of the deal, US$ 10,829 mn
*EV of Reliance Petroleum Limited
