Investment Banks | Banking and advisory services company In India

Our SERVICES

WE ACHIEVE BUSINESS GOALS, EXEMPLIFY VALUES AND‘LEAD TO WIN’

INVESTMENT BANKING

The financial analytics team is the right mix of experience and education in the areas of consultancy and financial advisory with honorary academics from IITs, IIms, ICAI, CFA[USA] etc. Our fund placement services are in three parts: Pre-Placement,
Placement & Post-Placement. We thrive to provide you with low-cost funding and get the best deal for you.

Private Equity Syndication

Private Equity, Venture Capital, Sector Agnostic

Springforth Capital has eminent understanding of PE/VC transactions and has exhibited the same in closing several deals within the first few years. through the seasoned team, who have collective experience of over 50 capital market transactions.

Our expertise and the detail oriented process helps us in pre-empting the issues in capital raising and this build efficiency behind our engagement and optimise the resources spent.. We place paramount importance to the symbiotic Client-Investor relationship and play the role to ensure an optimum framework of engagement.

Sectors of Interest: Healthcare, Pharma, Logistics, Food & Agri, FMCG and Consumption.

Our strengths match the fund raise sizes of USD 5mn – USD 50mn.

Venture Capital Fund Syndication

Springforth has successfully raised funds for Venture Capital funds in India. The funds are sourced from banks, financial institutions and also from limited partners.

Springforth has good network with FIs and family offices and can help upcoming venture funds to raise capital.

Debt & Structured Finance

Structured/Mezzanine Finance, Project Finance, Promoter Funding

Springforth has helped companies get project finance, working capital loans etc, to the tune of $20 mn. Our focus is to help clients getting the best structure in terms of security and interest rates.

Sectors of interest: Power, Infrastructure, Pharma & Healthcare, Real Estate.

Mergers & Acquisitions

Over time, Springforth has developed strong relations with large corporates and buyout funds who are looking at opportunities of inorganic growth/portfolio augmentation. We maintain periodic dialogue with such entities to share and discuss opportunities.

Sectors of Interest: Pharma & Healthcare, Logistics and IT/ITES.

STRATEGIC CONSULTING

Springforth is equipped with the desirables to provide competent services in Financial Consulting and Strategic Consulting. Our Advisory Board aims to simplify the complexity
of today's environment by bringing together a world class team with multi-disciplinary advisory expertise and insight.

External CFO Services

Springforth is advising various growing companies on a retainer basis as external CFO team. The idea for companies is to get the best quality service in early stage where they can’t afford a professional CFO on board with a team.

This works as a win-win situation for the client in terms of getting contemporary professional advice and for Springforth as a retainer client with recurring opportunities of fund raise.

Business Advisory

Business Plans, Implementation Plans, Information Memorandum, Valuation Reports etc.

Springforth has a strong analyst team guided by the founders. We can produce best deliverables from the promoters’ and investor’s perspective and in shorter timeframe.

SCM Advisory Services

Springforth co-founder and director, Mr Maheen Kannu has 30+ years of experience in logistics industry holding various leadership positions. Mr Maheen alongwith SCM sector experts has advised corporates in:

Warehouse Design
SCM Cost optimization
Transport network planning and implementation
Business scale up advisory for logistics companies

Our team dissects the current SCM practices in the client companies, identifies the leakages and weaker sections and augments the same by introducing new processes and forging new tie ups. We also monitor the implementation and make sure that desired results are delivered to the Clients.

TReDS

The MSME’s contributes 8% of the GDP, and 45% of total manufacturing output, lastly 40% of the exports from the country. Despite the important role played by MSMEs in India’s overall economic growth, they continue to face constraints in obtaining adequate finance, particularly in terms of their ability to convert their trade receivables into liquid funds.
To overcome this obstacle, the Reserve bank of India facilitated setting up of Electronic Bill Factoring Exchanges, according to the guidelines issues related to Trade Receivable e-Discounting System (TReDS) on December 3, 2014.

Why TReDS

1.TReDS is an institutional mechanism for facilitating the financing of trade receivables of MSMEs through multiple financiers
2.TReDS will facilitate by creating an electronic platform / Electronic Bill Factoring Exchanges, whereby MSME bills against large companies can be accepted electronically and auctioned, to ensure prompt realisation of receivables at competitive rates.
3. MSME sellers, corporate and other buyers, including the Government Departments and PSUs, and financiers (both banks and NBFC factors) will be direct participants in the TReDS.

Salient Features of TReDS

1. Unified platform for Sellers, Buyers and Financiers
2. Eliminates Paper
3.Easy Access to Funds
4.Transact Online
5.Competitive Discount Rates
6.Seamless Data Flow
7.Standardised Practices

Our NEWS & INSIGHTS

WE ACHIEVE BUSINESS GOALS, EXEMPLIFY VALUES AND‘LEAD TO WIN’

We keep a close eye on market movements and dynamics playing across our focus sectors. In Insights, we bring the latest news on the industry which have widespread impact. Periodically, we post our own research in this segment.

May022015

AVIS Hospitals acquires Beams Hospitals Hyderabad operations

AVIS Hospitals is one of the upcoming hospital brand in Hyderabad promoted by Dr. K. V. Rajah who is an eminent interventional radiologist. AVIS acquired Beams Hospitals� Hyderabad center in Jubilee Hills and is rebranding the same into AVIS Hospitals. Funded by Ambit Pragma fund in 2009, Beams Hospitals focuses on laparoscopy surgeries in segments including gynaecology, urology and ENT and has recently also started doing cosmetic surgeries. With the new management taking over upon acquisition, AVIS will focus on high end surgeries and treatments and provide cost effective solutions to the patients. Springforth advised the buyer across the transaction from negotiating the deal, deal terms, structuring and documentation.

May252015

Zoi Hospitals Acquires Eesha Hospitals in Hyderabd

TIn an all cash deal, Dr K. Ramesh Chandra acquired Eesha Hospital in Hyderabad. This is a 100 bedded hospital in the prime area of Hyderabad. The hospital is being rechristened as Zoi Hospital now. Zoi Hospital is a multi speciality hospital with key focus on Orthopaedics and related specialities. Springforth Capital was exclusive advisors to the buyers and helped them in negotiating and structuring the transaction. Springforth Capital also helped the buyers to build the details business plan and is retained to help with future opportunities.

Sep302014

Vivimed Labs achieves financial closure for its maiden Vaccine manufacturing plant

The promoters of Vivimed Labs have embarked on a new venture called Sanvita Biotech with aim to dominate the veterinary vaccines market. The company is setting up the first facility in Sangareddy, a place near Hyderabad. Initially the company will manufacture and market Foot & Mouth Disease (FMD) Vaccine followed by Rabies and other vaccines. Springforth Capital was the exclusive advisor to the company in arranging debt of $9 Mn. The transaction got closed recently with one of the leading nationalised bank. With the achievement of financial closure, the company is looking to commence sale of products in 30 months. Company is backed by strong operational and scientific team. The Chairman, Dr Manohar Rao, founder of Vivimed Labs, is himself a doctorate in the Veterinary Science field.

Sep302014

Helio Ventures Invests in dental care chain Denty s

Dental care company Today 's Healthcare India Pvt. Ltd, which has multiple clinics under the name Denty s Dental Care, said on Monday that it raised Rs.27 crore ($4.5 million) from Helion Venture Partners. The money will be used to set up more clinics. Today�s Healthcare, based in Hyderabad, runs 10 clinics in five cities in Andhra Pradesh and Tamil Nadu, which have fully digitized logging of patient data and electronic medical records. We are impressed by the founders� focus on clinical excellence combined with repeatable and scalable operational processes. Customers across five different cities enthusiastically recommend the clinics to their friends and families, giving us confidence in the team�s ability to create a high-quality dental practice nationwide,� said Sanjeev Aggarwal, senior managing director, Helion Venture Partners. The first clinic was launched in Vijayawada by two doctors, Sekhar Chennupati and Rajesh Nandipati, in 2009. The clinics offer comprehensive dental services ranging from basic to advanced treatments across all specialities in dentistry. > �The funding from Helion will fuel the replication of our proven, scalable model across the country, enabling us to reach out to a larger population. There is an acute need for standardized delivery of dental care and the existing infrastructure is only touching the periphery of this opportunity,� Chennupati, co-founder and managing director, F�s Dental Care, said in a statement. Dental care chains that have come up in the last five years, mainly in bigger cities, include Dentistree, Stardental Centre Pvt. Ltd under the name Clove Dental, Total Dental Care Pvt. Ltd under the name MyDentist, Apollo Hospitals group�s Apollo White Dental, Axiss Dental and Swiss Smile Dental Clinic.

Sep302012

OSR Infra raises $7 Mn from HNIs

Springforth Capital advised the company raise $7 Mn from High Net-worth Individuals. The funding will help provide the required the equity capital for implementation of projects and receive debt funding from the banks. It can be noted that agri warehousing, being a priority sector for India enjoys preferred lending norms. The transaction was structured in order to get the prescribed government incentives and also tax effective for the investors. Given the high wastage of grains in the ill-equipped government warehouses and lack of storage facilities, the agri warehousing and bulk grain handling is a high growth and sustainable business. Various private equity investors such as IDFC PE, IL&FS, and Rabo PE have taken large bets in this sector.

Commodity warehousing firms tap PE funds for expansion

Apart from stocking commodities and issuing receipts against them, modern commodity warehouses provide services such as procurement, maintenance, collateral management and financing. Photo: Bloomberg Companies operating commodity warehouses that are a vital link in the agriculture supply chain are looking to raise private equity (PE) capital as they expand their business and create new growth verticals.

Logistics Sector Attracts Investor Interest

PE investors rushed to pick up equity in firms in India last year as they sought to increase exposure to consumer technology, healthcare sectors Mumbai: Global private equity (PE) investors, including many who had shunned India in the past, rushed to pick up equity in private and public firms in the country last year as they sought to increase exposure to the fast-growing consumer technology and healthcare sectors. According to Bain and Co.�s India Private Equity Report 2015, shared exclusively with Mint, the number of funds investing in India rose by 30% in 2014 compared with a year ago. Some 440 funds invested in India last year. Close to 50% of these were doing so for the first time or after a long gap. Investors who invested after a gap of two years have also been included in this category. �There are quite a few new investors who are investing in India including some who were dormant for the past few years. A new class of investors has now come to India, particularly on the early stage and growth side,� said Arpan Sheth, the head of Bain�s India PE practice and lead author of the report. Some of the new funds that invested in India last year include DST Advisors, Greenoaks Ventures, Steadview Capital, Tybourne Capital, Brookfield Asset Management Inc., Saama Capital India Advisors Llp, Baillie Gifford and Co., Myriad Asset Management, PSP Investments and Canada Pension Plan Investment Board. Many of these investors participated in some of the largest transactions last year�infusing money into Flipkart, Snapdeal, Unitech Corporate Parks and Kotak Mahindra Bank Ltd, among others. �General partners (GPs) were always keen on investing in India but due to the poor investment environment very few people invested between 2009 and 2013. After the change in government at the centre, limited partners have become bullish about India and they are allocating capital to certain GPs,� said Prakash Nene, managing director at Multiples Alternate Asset Management Pvt. Ltd. Multiples is currently on the road to raise $600 million from global and domestic investors. Limited partners are investors who commit capital to a PE fund. GPs are the managing partners in the fund. Other firms which have raised capital over the past six months and have allocated capital for India include Baring Private Equity Asia, I Squared Capital, Caryle Group LP. The number and value of deals also increased in 2014. According to the report, PE and venture capital (VC) deals worth $15.2 billion were closed last year, an increase of 28%. This was the highest in the past five years and came close to the 2007 peak of $17.1 billion. Deal volumes rose 14%, with early- and growth-stage deals accounting for 80% of all deals last year. To be sure, deal activity surged across the Asia-Pacific region, except in Japan. The value of deals concluded (excluding real estate, infrastructure and deals less than $10 million) in the Asia-Pacific, excluding Japan, rose 63%. Spurred by a number of billion-dollar mega deals, Greater China saw a 180% year-on-year rise in deals. The highest number of investments came into the consumer technology (CT), real estate and banking, financial services and insurance (BFSI) sectors. The Bain report noted that deals in CT firms led in both deal value and volume, accounting for 31% of overall PE deal value and 35% of deal volume. Investments in the sector rose from $1.2 billion in 2013 to $4.7 billion in 2014, as the number of deals grew by 18% to 280. The burgeoning activity in the CT space led to a surge in valuations of these assets. Most fund managers agreed that valuations were high, but still expected a 10-25% increase in valuations in 2015. Sheth said investors were now keenly evaluating firms which act as enablers for CT firms, such as those that provide logistics and other services. �These enablers are very important for the ecosystem and the growth of e-commerce companies. From an investor perspective, the enabler companies are a way to play the market and not take a bet on a particular segment in e-commerce or any one particular company,� he said.

Private equity push to India sees many first-timers

With food production growing, India needs more storage and transportation capacity, writes Paramita Chatterjee Homegrown company in the Indian agri-warehousing sector, Sohan Lal Commodity Management, recently raised its fourth round of funding - about Rs 100 crore - from private equity firm Creation and existing investor, Everstone Capital. These are not the only ones. There is a burgeoning list of companies - both startups and established companies in the logistics space - that are increasingly attracting investor interest as the importance of augmenting India's storage capabilities gets critical. Currently, there is a paucity of warehouses in India, especially in the agriculture sector. In fact with the increase of food production in the country, the marketable surplus of agricultural produce exceeds India's storage capacity. For instance, if the country had approximately 159 million metric tonnes of food grains as marketable surplus in 2013-14, it is yet to have the combined storage capacity to handle the additional quantity. It is this wide gap that is giving rise to a business opportunity which in turn is prompting risk capital investors such as private equity and venture capital funds to invest in the sector. What's more, while established companies in the agri-logistics and cold chain industry are receiving funding from investors to expand their business, even those who focus on providing back-end support in the ecommerce rush are increasingly evincing investor interest. Recently, Peepul Capital made over six-fold a return on its investment that it had made in logistics firm Ecom Express. Corporate lawyers on condition of anonymity reveal there are quite a few private equity deals that are in advanced stages of discussion in the logistics space. For instance, ColdEX Logistics, a cold chain company that provides support and distribution services to well-known international brands including Burger King, Subway, Domino's Pizza and Starbucks, is currently in talks with a host of private equity investors to raise about $80 million. In December 2010, it had raised $10 million from India Equity Partners in lieu of a significant minority stake. Investments indeed have started picking up in this sector. Starting 2012, private equity investors have infused around $275 million in the sector, as per data available with research firm Venture Intelligence. Recently, Canadian investment giant Fairfax invested $126 million in National Collateral Management Services Ltd, a private-sector agricultural commodities storage company headquartered in Gurgaon. Other prominent deals in the sector include Temasek's $40 million investment in Star Agriwarehousing and Collateral Management, a post-harvest solutions company focused on empowering farmers and Mandala Capital Fund's $25 million funding in logistics firm Gati Kausar. The company, which has a network of cold warehouses, transports refrigerated goods across sectors including healthcare, meat, poultry, and bio-pharma, among others.

M&A deals involving Indian companies jump to $7.7 billion in September quarter

NEW DELHI: The total value of merger and acquisition deals involving Indian companies rose to $ 7.7 billion in the September quarter from the year-ago period, according to global consultancy EY. With cross-border transactions being a significant driver of the M&A (merger and acquisition) activity during the previous quarter, it reflects "increased business confidence of global players in the Indian economy and domestic companies", EY said today. As many as 233 deals involving Indian companies with a cumulative deal value of $ 7.7 billion were disclosed in the three months ended September. "While this represents an 18 per cent increase in terms of aggregate disclosed value (vs $ 6.5 billion in Q3 of 2014), the deal volume remained at the same levels (232 deals in Q3 2014). "The technology sector continued to dominate the M&A sector tables in terms of volume, accounting for 36 deals, as companies remained focused on acquiring firms specialising in SMAC (social media, mobile, analytics and cloud) capabilities," EY said in a statement. Amit Khandelwal, Partner and National Director (Transaction Advisory Services) at EY, said M&A activity on the domestic front, though subdued, is expected to pick up over the next few months as the economy continues to improve. During the latest September quarter, there were 116 cross-border M&A deals with a cumulative disclosed value of $ 6.6 billion, accounting for 85 per cent of the total disclosed deal value. The surge can be attributed to three outbound big-ticket transactions -- those worth $ 500 million and above -- and two in-bound deals totaling $ 3.6 billion. "Of the top 10 deals of the quarter in terms of value, 50 per cent were outbound and drove the significant increase in value to $ 3.6 billion in Q3 of 2015 compared with $ 0.3 billion in Q1 and $ 0.5 billion in Q2 of 2015. "These transactions marked an end to a prolonged absence of big-ticket out-bound transactions from the M&A activity in India since 2012," Khandelwal said.

Indian M&A transactions on rise, reflect global trends

New Delhi, 30 August 2014: A stable economic recovery across the Eurozone, steady growth in the US and a moderating yet firm growth in China have paved the way to an improved M&A environment. Mega blockbuster deal announcements during the year led to a rise in global M&A values in FY14, while volumes declined marginally, says EY�s Transactions 2014, its annual review of the M&A landscape. Corporate boards today are more confident than before and their ability to execute transactions is now matching their intent. The global M&A trend was somewhat replicated in India. In FY14, the Indian M&A market registered an aggregate disclosed deal value of US$22.6 billion, representing an increase of 12% against the US$20.1 billion seen last year. The number of M&A transactions involving Indian companies was relatively muted in FY14, which stood at 674, down by 20% against 843 deals seen in FY13. Amit Khandelwal, National Director and Partner, Transaction Advisory Services, EY, says, �FY14 has been an encouraging year for the global business environment. Amidst the gradually stabilizing economic scenario, corporate organizations internationally have adopted a more selective approach towards M&A, with boards now prioritizing quality over quantity. A similar sentiment was witnessed across the Indian M&A market. The country continues to be a major attraction for global players, as evinced by their continuing interest in the country�s growth story. We remain optimistic about the M&A outlook as it continues to stabilize over the next year�.

Agriculture allied sectors on private equity firms radar

In the last five years, funds have allocated more than $1 bn in food and agri businesses in India As per VCCEdge, the financial research platform of VCCircle, since January, four firms in the food and agriculture sector have raised $71 million. Photo: Pradeep Gaur/Mint MUmbai: Private equity and venture capital firms are warming up to investments in agriculture and allied sectors�a trend that started with warehousing companies but is now extending to other segments like crop care. IDFC Private Equity, the PE fund of IDFC Alternatives Ltd and infrastructure financier IDFC Ltd, is among those looking at incubating and investing in such businesses. IDFC PE is in the process of conceptualizing a crop-care business, which will manufacture and market third-party products, such as fungicides and biopesticides, under its brand name. It will also manufacture specific products. �We are trying to build a platform on the crop-care products side. Focus is on creating products, which do not cause harm to farmers or any person administering them, while being safe for consumption, as opposed to chemical pesticides,� said Girish Nadkarni, partner, IDFC Alternatives. According to Nadkarni, one of the reasons the fund decided to incubate a crop-care firm was the unorganized nature of agriculture and allied businesses. �Most of the businesses are fragmented, and many run as mom-and-pop shops. There are no systems, processes, controls, governance mindsets. Most agri-businesses are cash businesses, so if you don�t have process and governance standards, it becomes extremely difficult to manage them,� said Nadkarni. Zephyr Peacock India, a private-equity arm of the New York-based Zephyr Management Lp, is looking to incubate a firm in agri-input business and plans to acquire smaller, unorganized businesses under this platform. Zephyr Peacock India, at present, is deploying capital from its second fund, which has a corpus of $70 million. �We were looking for an existing sizeable business to invest in, but we could not find the right fit. Hence, we decided that we will build a scaled business by building the business bottom-up with a good management team,� said Mukul Gulati, co-founder and managing partner, Zephyr Peacock India. IDFC PE and Zephyr Peacock declined to share details of their investments. As per VCCEdge, the financial research platform of VCCircle, since January, four firms in the food and agriculture sector have raised $71 million. This compares with $68 million raised by 10 firms in 2014. Over the last five years, funds have allocated more than $1 billion towards food and agri businesses in the country. In June, George Soros�s The Aspada Investment Co., which provides early-stage capital, invested $3.3 million in EM3 AgriServices Pvt. Ltd, which manufactures farm machinery. In March, Aspada invested $3.18 million in an agriculture products firm INI Farms Pvt. Ltd. �There is an increasing pressure on growing more food in India. This has created an opportunity to marry the trends of rising incomes, the need to grow more food and using the latest technologies around farm productivity, which have become economically viable to be deployed in a large way,� said Kartik Srivatsa, managing partner, Aspada Investments. Since 2011, the fund has made six investments in the agri space, committing almost $25 million of capital. �In order to upscale and modernize, companies in these sectors need capital infusion. Also, companies have to set up vast distribution networks to reach out to the large, but scattered, farmer population, which again needs a lot of capital investment,� said Dhanraj Bhagat, partner, Grant Thornton India Llp, adding that the market for agriculture products and services is huge and largely untapped by organized firms. To be sure, interest in agri-allied sectors, such as warehousing, has been strong. On 21 July, Fairfax India Holdings Corp. acquired a 74% stake in National Collateral Management Services Ltd (NCMSL) for about Rs.800 crore. NCMSL is a private-sector agriculture warehousing firm. Another such firm, Sohanlal Commodity Management Pvt. Ltd, is in the process of going public. �The rising income levels and changing lifestyles are creating an increasing demand for processed and healthy lifestyle agri products, which require large production and warehousing facilities. Also, with a huge entry barrier in this unorganized sector, it becomes pertinent that bigger investors come in and increase capacity in the sector,� said an investment banker involved in one of the transactions mentioned above.

CAREERS

WE ACHIEVE BUSINESS GOALS, EXEMPLIFY VALUES AND‘LEAD TO WIN’

Investment banking career requires a high level combination of analytical and interpersonal skills. We ensure rigorous process in hiring a new professional onboard. At the same time, we provide great exposure to the people on board in terms of analytical strength and client exposure. Given a small organization we provide great growth prospects with desired freedom with responsibility.

Please write to us on hr@springforthcap.com for any queries regarding career opportunities with us.

Springforth’s Investment Banking Internship Programme (SIBIP)

SIBIP is an uniquely crafted program for young graduates/CAs/MBAs and CFA pass outs to get an exhaustive experience into investment banking industry.

The candidates are first exposed to the analysis part wherein they work on real life case studies of fund raise and M&As. After they are able to become independent in this part, then they are given opportunities to interact with the industry stakeholders.

They get exposure with various investment funds, promoters, banks and FIs. This helps them boost the confidence levels in performing IB role.

If you are interested in learning more, please write to hr@springforthcap.com

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