M&A Deal Summary

Kotak Mahindra Acquires ING Vysya Bank

On April 2, 2015, Kotak Mahindra acquired financial services company ING Vysya Bank from ChrysCapital, Kotak Private Equity Group and ICICI Venture

Acquisition Highlights
  • This is Kotak Mahindra’s 1st transaction in the Financial Services sector.
  • This is Kotak Mahindra’s 1st transaction in India.

M&A Deal Summary

Date 2015-04-02
Target ING Vysya Bank
Sector Financial Services
Buyer(s) Kotak Mahindra
Sellers(s) ChrysCapital
Kotak Private Equity Group
ICICI Venture
Deal Type Merger
Advisor(s) AZB & Partners (Legal)

Target

ING Vysya Bank

Bengaluru, India
ING Vysya Bank is one of the oldest private sector banks in India with an 81 year long history offering a wide variety of wholesale, retail and private banking products and services over two million customers. ING is amongst the top 10 largest private sector banks in India in terms of deposits and advances.

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Buyer(S) 1

Buyer

Kotak Mahindra

Mumbai, India

Category Company
Sector Financial Services
DESCRIPTION

Headquartered in Mumbai, India, Kotak Mahindra Bank is a financial services conglomerate with business interests in: retail and commercial banking, brokerage services, investment banking, auto financing, asset management services and life insurance services. The group has more than 6,000 employees in its various businesses and has a distribution network of branches, franchisees, representative offices and satellite offices across 216 cities and towns in India and offices in New York, London, Dubai and Mauritius.


DEAL STATS #
Overall 1 of 2
Sector (Financial Services) 1 of 2
Type (Merger) 1 of 1
Country (India) 1 of 2
Year (2015) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-07 Fincare

Bangalore, India

Fincare enables financial inclusion of the underbanked base of pyramid, mass retail and micro & small enterprise segments. Fincare was founded in 2007 and is based in Bangalore, India.

Buy -

Seller(S) 3

SELLER

ChrysCapital

Port Louis, Mauritius

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 5.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

ChrysCapital Management Co. is a private investment firm focused on opportunities in India. ChrysCapital looks for companies with revenues of $50 million to $1 billion and can commit up to $250 million of equity per transaction. Target sectors include business services, consumer goods and services, financial services, healthcare and pharmaceuticals. Prospective transactions include growth investments in private and listed companies, special situations, co-investments, and management buyouts/buy-ins. ChrysCapital was formed in 1999 and is based in Port Louis, Mauritius.


DEAL STATS #
Overall 21 of 32
Sector (Financial Services) 7 of 8
Type (Merger) 1 of 1
Country (India) 19 of 27
Year (2015) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-17 Parksons Packaging

Mumbai, India

Parksons Packaging is a manufacturer of folding paperboard cartons. It is an end-to-end packaging solutions provider, meeting packaging requirements from conceptualization to product delivery. The markets targeted by Parksons include the food, FMCG and pharma sectors as well as the emerging high growth sectors like apparel, beverages and mobile handsets. Parksons Packaging was founded in 1996 and is based in Mumbai, India.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-28 Mankind Pharma

New Delhi City, India

Mankind Pharma is a largest pharmaceutical company by number of prescriptions, and is 5th in the market by domestic sales. Mankind produces branded generic drugs sold throughout India, with a uniquely deep reach in rural and semi-urban markets. Mankind Pharma was founded in 1995 and is based in New Delhi, India.

Sell -
SELLER

Kotak Private Equity Group

Mumbai, India

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 1.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Kotak Private Equity Group (KPEG) is the private equity investment arm of financial services firm, Kotak Mahindra Group. KPEG looks to invest $20 to $40 million in a variety of mid-sized Indian companies to support expansion, acquisitions, or buyouts KPEG targets businesses with strong management and growth potential operating in fragmented industries. Sectors of interest include life science, retail, media/entertainment, light manufacturing, agriculture, food processing, healthcare, distribution, and IT/software. Kotak is based in Mumbai.


DEAL STATS #
Overall 7 of 9
Sector (Financial Services) 2 of 2
Type (Merger) 1 of 1
Country (India) 7 of 9
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-10-09 Four Soft

Hyderabad, India

Four Soft is a software products and solutions company offering enterprise solutions built on contemporary technologies to the transportation and logistics (T&L) industry and supply chain execution solutions to the manufacturing industry.

Sell $43M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-09-25 NSE India

Mumbai, India

NSE is the dominant equities exchange in India and is one of the leading equity derivatives exchanges in the world. Its market-leading position is driven by its advanced trading platform, corporate structure, top-tier management, and product offerings. NSE India is based in Mumbai, India.

Buy -
SELLER

ICICI Venture

Mumbai, India

Investor Investor Investor Investor Investor


Category Corporate Investor
Founded 1988
PE ASSETS 1.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

ICICI Venture is an India-focused investment firm that targets opportunities in private equity, real estate, and mezzanine finance with funds covering each investment strategy. ICICI's private equity practice looks for buyout and growth capital opportunities across sectors such as retail, media, information technology, consumer services, consumer goods, textiles, pharmaceuticals, biotech, oil, and non-consumer goods. ICICI Venture is a subsidiary of ICICI Bank and has offices in Mumbai and Bangalore.


DEAL STATS #
Overall 13 of 16
Sector (Financial Services) 4 of 4
Type (Merger) 1 of 1
Country (India) 12 of 15
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-27 KIMS Hospitals

Secunderabad, India

KIMS Hospitals provides medical and health care services. The company offers range of specialties, including cardiac, dental, neuro, oncological, orthopedic, renal, reproductive, and robotic sciences, as well as gastroenterology and hepatology, heart and lung transplant, organ transplantation, mother and child care, and paediatrics services. KIMS Hospitals was founded in 1973 and is based in Secunderabad, India.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-02 TeamLease

Bengaluru, India

TeamLease is a staffing company and has tied up with employment exchanges across 10 states in India. TeamLease was founded in 2002 and is based in Bengaluru, India.

Sell -