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 herewith the highlights of "India Private Equity Weekly Analysis Report"  from 16th to 28th February, 2014.Please note that the information is compiled from various sources and is intended purely for information purposes only. 

PE Industry News:

 

  • Niche real estate funds back small projects, eye quick exits

 

Corporate Deals:

  • Hitachi Picks Up Majority Stake In Micro Clinic
  • HDFC Life, Warburg Pincus To Invest In Capital First
  • Sanlam To Hike Stake In Shriram Capital
  • Promoter Gautam Thapar To Offload Stake In Crompton Greaves
PE Deals:  
  • Lifestyle Brand Mela Artisans Gets Funding From Aavishkaar
  • Polygenta Technologies To Raise Funds From Ventureast
  • IFC Invests In NephroPlus
  • Omidyar Network, Michael & Susan Dell Invest In IntelleGrow
  • IvyCap Ventures, Accel India Invest In Vinculum
  • Hello Curry Gets Seed Funding From SRI Capital
  • Oravel Stays Gets Funding From Lightspeed Venture
  • Smaaash, Techfront Secure Funding From FidelisWorld
  • Tano Capital Acquires Stake In Sanghvi Brands
  • PIFA FC Secures Funding From Ronnie Screwvala's Unilazer Ventures
  • iKure Gets Seed Funding From Japenese Impact Investor ARUN
  • Sweden's Kinnevik Leads Investment In Online Classifieds Quikr
  • KfW Bank To Invest In REC
  • National Collateral Management Receives Funds From NABARD
  • General Atlantic Partners To Pick Up Stake In CitiusTech
  • Mayfield Makes Follow-On Investment In Securens Systems
  • IAN, Others Invest In Startup Uniphore Software
  • KarmYog Media Gets Funding From Singapore Investors
  • Sports365 Gets Investment From Powerhouse Ventures
Mergers n Acquisitions:
  • Manipal Group To Acquire Stake In GMR Infra
  • Airtel, Safaricom To Acquire Essars' Kenyan Brand Yu
  • Narayana Health Acquires Jubilant's Hospital Business
  • Mcleod Russel India Acquires Vietnam Tea Factory
  • Swiss Firm Reichle & De-Massari Buys Advanced Fiber Systems
  • Singhi Advisors Buys Into I-Bankers Club Merger Alliance
  • Infotech To Buy US Based Softential Inc
  • Ybrant Digital May Invest In Israeli HR Solutions Provider JobooKit
  • Nirma To Acquire Dishman Pharma's Gujarat Land
  • Prime Focus' Technology Arm To Buy DAX
  • Mohandas Pai Backed BookAdda Acquires E-Tailer KoolSkool
  • Kuwait Petroleum To Buy Stake In IOC's Paradip Refinery
  • Chettinad Cement To Acquire Anjani Portland
  • Nichirei Sells Stake In Snowman Logistics To Gateway Distriparks
  • Ex Nielsen MD Sarang Panchal Acquires Stake In MRSS India
  • Indian Hospitality Group May Buy Coffee Chain Barista
  • Manappuram Finance Buys Milestone Home Finance From Jaypee Hotels
  • Rdio Acquires Music Streaming Service Dhingana
Fund Raise:
  • Nava Bharat Ventures To Raise Funds For Power Project
  • Dighi Port Plans Fund Raise
  • Apollo, ICICI Venture set to complete raising $750 million India fund
  • Country Club India Plans Fund Raise
  • Everstone’s Blue Foods to raise growth capital
  • Dhathri Ayurveda Plans PE Fund Raise
  • Viom Networks Plans PE Fund Raise
  • DataRPM Raises Series A Round
  • Kalyan Group Plans PE Fund Raise
  • L&T Finance Plans Fund Raise Through QIP
Targets n Plans:
  • Mumbai Angels Backed NowFloats Plans Fund Raise
  • CX Partners Backed SIS Security Plans Acquisition
  • Razorfish To Acquire Tech Companies In India
  • BackOffice Associates Plans India Acquisition
  • Neyveli Lignite To Acquire Coal Mines Overseas
  • Sun Pharma Looks For Partners, Acquisitions To Foray Into Japan
  • MOIL To Acquire Mining Assets Overseas
Corporate News:
  • IDBI To Divest Stake In Stock Holding Corporation
  • Carzonrent May Exit Self-Drive Car-For-Hire Business
  • Central Bank Divests Stake In CIBIL To Transunion
  • Blue Foods To Divest Stake To PE, Strategic Investors
  • Unitech Sells Land Parcels In South
  • Canaan Partners May Exit Three Investee Companies
  • Autoline May Divest Stake In American Subsidiary
  • NSR in talks with General Atlantic, Baring Asia
  • Autoline May Divest Stake In American Subsidiary
  • NSR in talks with General Atlantic, Baring Asia
PE Fund News:
  • Nexus Raises New Fund To Support Investees
  • Motilal Oswal Achieves First Close Of Realty Fund II
  • Ex-3i executive Anil Ahuja seeks $100m for India-focused hedge fund
 
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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