Gateway Financial Services Ltd ("Gateway") was founded in the year 2006 by two professionals with more than forty years of combined experience in the financial services industry in India and GCC .

The Company was set up, primarily, to leverage on the working relationships the promoters had developed over the years with reputed financial institutions, corporate groups, and private family offices globally.

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FortNightly PE Update

Dear Sirs,

Please find attached herewith the "India Private Equity Fortnightly Analysis Report"  from 1st to 15th October, 2014.Please note that the information is compiled from various sources and is intended purely for information purposes only. The highlights are as under:

Corporate Deals:

  • Mahindra To Acquire Majority Stake In Peugeot Motocycles
  • ICICI Banks Picks Up Stake In Hindustan Motors
  • Amulya Leasing Buys Additional Stake In Apollo Pipes
PE Deals:  
  • Qualcomm Ventures Invest In Traffic Info App Maker Birds Eye Systems
  • Matrix Partners Leads Investment In Restaurant Management Portal LimeTray
  • KKR To Invest In Wadhwa, Bhartiya Group's Realty Projects
  • Blackstone, Embassy Group Buys Four Season Hotel; Goldman Sachs Exits
  • Matrix Partners Invests In Referral Hiring Startup GrownOut
  • IFC To Back Everstone Capital Fund III
  • Tattva Spa Secures Funding From IAN
  • Helion Ventures Invests In Recruitment Platform TalentPad
  • Update: Senco Gold Raises Funding From Saif Partners
  • Temasek acquiring stake in India’s Devyani International
  • Zippr Secures Funding From Indian Angel Network
  • Ventureast Tenet Fund Invests In Healthcare Startup MediAngels
  • CarTrade Raises Funding From Warburg Pincus, Others
  • Azim Premji Invests In NEA Backed FSS
  • Hyderabad Angels, Others Invest In OnlinePrasad
  • Sapience Analytics Raises Series B Round From Orios Venture
Mergers n Acquisitions:
  • Minda Corp Acquires Majority Stake In JV Minda Furukawa Electric
  • Lyka Labs Sells Tarapur Manufacturing Unit
  • Japan's Sumitomo Acquires Carzonrent's Auto Lease Business
  • Sudarshan Chemical Industries Buys Promoter Rathi Family's Two Units
  • Ipca Labs Acquires Alpa Laboratories' Oral Solid Dosage Manufacturing Plant
  • MPS Limited Acquires American Content Creator Electronic Publishing Services
  • Cognizant Buys American Digital Marketing Agency Cadient Group
  • L&T Technology To Acquire Dell's Engineering Service Business
  • DaVita HealthCare Partners Invests In Express Clinics
  • Nihilent Technologies Buys US Tech Firm GNet Group
  • Indovation Technologies To Acquire Stake In Two Companies
  • PayUMoney Buys Mobile PoS Payment Provider Eashmart
  • Binatone Group Acquires Connovate Technology
  • Trivitron Healthcare Buys Kiran Medical, Imaging Products India
  • New Generation Infra To Acquire Three Toll Projects From Valecha
Fund Raise:
  • Ujjivan plans to raise Rs300 crore by Dec, aims to triple loan book in two years
  • Educational Activity Kit Maker Flinto Secures Funding
  • Karvy Financial Plans PE Fund Raise
  • Realty Developer Amit Enterprises To Raise Funds From PE
  • Restaurant Guide Zomato Plans Fresh Fund Raise; Aims A Billion Dollar Valuation
  • IDG Backed Mobile Big Data Firm Vserv Digital Looks To Raise Funds
  • GemPundit Gets Seed Funding From Angel Investors
  • ShieldSquare Secures Angel Investment
PE Fund News:
  • ASK Group To Raise New Realty Fund
  • IDFC Alternatives Announces Final Close Of India Infra Fund II
Statistics:
  • PE deals in realty soar in 2014
PE Industry News:
  • Global VC activity boosted by increased India, China dealmaking
PE Exit:
  • IDFC Alternatives Exits IDFC Office Fund
Corporate Exit:
  • Kesoram Industries To Exit Birla Tyres
 
 
 
 
 
Chaitali Neogy

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Research Analyst GATEWAY CAPITAL LIMITED
 
 
 
 

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Next Trillion Dollar Opportunity Fund

 Dear Sirs,

We are pleased to share with you the update as at August 31, 2013,  on the "Next Trillion Dollar Opportunity Fund" ("NTDOP"), a joint initiative with Gateway Capital & Motilal Oswal AMC, Mumbai. The Fund's investment strategy is managed by Motilal Oswal AMC. The Fund aims to invest primarily into mid & small cap companieswith a focus on identifying emerging sectors/stocks which are part of the Next Trillion Dollar GDP Growth Opportunity in India
Please find attached 
---Monthly Fact Sheet as at September 2013 
---September Newsletter  with updates on the portfolio companies of the fund
The Fund has significantly outperformed its benchmark (in USD terms), the CNX Midcap Index, across all time frames barring the last 3 months, since its inception in Sept 13, 2012:
  • Since its inception the fund has returned -17.74% vis a vis -24.52% by the benchmark index.
  • Fund Portfolio has a beta of 0.52 vs 1 thereby exhibiting lower volatility.
Performance Update:
During August 2013, Indian equities had a volatile period in Aug with the benchmark index Nifty losing 4.7% overall to end the month at sub-5500 level. The quarterly earnings season concluded mid-month with a mixed bag of results. 
On the global front, the Syrian crisis added to the INR's woes as the Brent spiraled up. With the INR continuing to depreciate, the RBI and Government took various measures to supppport the INR including the opening of forex swap windows to meet $ requirements for crude oil imports. Meanwhile, the National Spot Exchange (NSEL) payment crisis hit markets in early Aug as the commodities exchange suspended trading amidst fears of a default.
On the macro front, India's 1QFY14 GDP growth recorded a sharp deceleration, coming in at 4.4%. Over the month, two important Bills were passed in the Lower House of the Parliament - the Food Security Bill and the Land Acquisition Bill. The month also saw the appointment of Dr. Raghuram Rajan as RBI Governor from Sep 4.
Sector wise, banking, industrials and telecom were the worst hit while materials and IT were sectors significantly in the green. Flow-wise, August saw significant outflows from FIIs, who remained net sellers for the third consecutive month while DIIs switched to net buyers. On a positive side, FDI into India increased by 24.2% Y-o-Y to $3.95 bn in April-May 2013 vs. $3.18 bn of FDI in April-May 2012 according to data from the Department of Industrial Policy and Promotion (DIPP).
On the organisational front,
GlaxoSmithKline Consumer Healthcare, the makers of Horlicks, is revamping the £20.3m brand with new packaging, updated on pack claims and reformulation to help change the perception of the £143m malt category. 
Bosch has acquired 97 acres of land in Bidadi for the construction of this new manufacturing facility and is investing over Rs 250 crores for the initial development of the facility. The plant will be ready for commencement of production by the third quarter of 2015 with re-location of around 850 employees. The new Bidadi facility will house the production of several components of diesel fuel injection systems.
 
Fund Holdings and sector allocation:
The top five holdings of the funds as of date are as under:
  • Page Industries.
  • Pidilite Industries.
  • Eicher Motors.
  • GSK Consumer Healthcare.
  • Bosch Ltd.
Top three sector allocation are:
  • FMCG - 33.22%.
  • Banking and Finance - 21.64%.
  • Auto & Auto Ancillaries - 17.34%.
Market Outlook:
Market & Fund Outlook: 
As per the Fund Managers - 
September will keenly test the Government’s resolve to undertake some hard reforms as well such as a large quantum of diesel hike, pension and insurance bills and speeding up disinvestments which are key to repair the recent market damage and restore some government credibility. In the month, the Fed's meeting will be keenly watched for to provide further light on QE tapering plans even as the market will likely contend with the developments on Syria. The first RBI credit policy meet under the new Governor will also be an event which will be keenly watched for with regards to understanding future policy direction. 
We believe that while the current economic environment is challenged, there are certain concerns such as on the Current Account Deficit and Fiscal Deficit seems way overdone and do not warrant such adverse reaction for both the equity and currency markets.
We look forward to your participation in the fund with a 3 - 5 year time horizon, and a targeted return of around 15 - 20% p.a. While the portfolio comprises of high quality stocks, dollar cost averaging can be used a strategy to manage the volatility in Indian markets.
Best Regards,
Chaitali Neogy

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Research Analyst GATEWAY CAPITAL LIMITED
 

 

 

 

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