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 November, 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:

  • Ultratech Acquires Majority Stake In Omani Gypsum Mining Firm Awam Minerals
  • JSW Group Buys Back Eton Park's Stake In JSW Infrastructure
  • Amtek's Overseas Unit Raises Funds From KKR
  • Navratna PSU Concor Picks Up Stake In Angul Sukinda Railway Project
  • HPCL To Pick Up Stake In Petronet's Gangavaram LNG Terminal
  • Ruchi Soya Sells Majority Stake In Gemini Edibles To Golden Agri Resources
  • Sula Shipping Picks Up Stake In Jindal ITF
  • Ratan Tata Invests In Furniture E-Tailer UrbanLadder
PE Deals:  
  • Affiliate Marketing Firm 3.14Digital Leads Investment In Education Portal CollegeDunia
  • Rajasthan Angel Network Backs Three Jaipur Startups - Blue Box Media, Locus Transit, Kidswids
  • Nazara Technologies Leads Series A Round In Social Gaming Startup HashCube
  • Tiger Global Invests In SaaS Based Warehousing Solutions Firm Unicommerce
  • Google India Head Rajan Anandan, Others Invest In Lifestyle Fashion Blog POPxo
  • Temasek buys 10.16% stake in Intas Pharmaceuticals
  • Amplus Capital Invests In Jain Height's Bangalore Project
  • Online Community For Travellers Tripoto Secures Seed Investment
  • Wearable Processor Maker Ineda Secures Funding From Cisco Investments
  • Total Environment Building Systems Raises Funds From Peninsula Brookfield
  • Last Mile Logistics Startup Blowhorn Secures Investment From Unitus Seed Fund
  • NLPCaptcha Secures Investment From YourNest Angel
  • Online Marketplace For Digital Content Instamojo Raises Series A From Kalaari Capital, Others
  • VoxPopClothing Raises Funding From Blume Ventures
  • Forum Synergies, Others Invest In Ethnic Fashion Portal Cbazaar
Mergers n Acquisitions:
  • IKYA Group Acquires Parent Fairfax Financial's Stake In MFXchange Holdings
  • Sami Labs Acquires KCP Biotech; Plans More Buys
  • Associated Stone Industries Acquires UAE based Al Rawasi Rocks And Aggregates
  • Alibaba Backed Quixey Acquires App Developer Dexetra Software
  • Hollingsworth & Vose Company Buys Raman FibreScience
  • GVK Biosciences Acquires CRO Firm Vanta Biosciences
  • Publicis' Arm MSLGroup To Acquire Independent PR Agency Perfect Relations
  • Times Internet Acquires Majority Stake In CricBuzz
  • VC Backed Bookmycab Acquires Peer CabOnClick
  • Bharti Infratel May Acquire Vodafone, Idea Towers
  • Cognizant Acquires Australian Digital Solutions Firm Odecee
  • Aurobindo Pharma Acquires US Based Natrol Inc In Bankruptcy Auction
  • Atulya Mittal's Papa John's May Take Over Pizza Corner
  • Infosys May Acquire Airbus' Engineering Services Unit CIMPA
  • NMDC Led Consortium To Acquire Stake In Russian Potash Firm Acron
  • VC Backed Incubator Antfarm Acquires Food Delivery Venture Meals On Wheels
  • Apollo said to bid for GlaxoSmithKline’s mature drugs
Fund Raise:
  • IT Consulting Firm MindChipps Plans Fund Raise
  • Kalaari Capital Leads Series A Round In Accomodation Listing Portal GrabHouse
  • GoQii Founder Vishal Gondal Backs Artist Raghava KK's Flipsicle
  • Employability Assessment Startup Aspiring Minds Plans Fresh Fund Raise
  • IFC Backed Equitas Holdings To Raise Fresh Funds
  • Power Management Solutions Provider VigyanLabs Plans PE Fund Raise
  • Flipkart Plans Another Billion Dollar Fund Raise
  • Online Furniture Store Pepperfry Plans PE Fund Raise
  • SAIF Partners Backed Travel Search Engine Ixigo Plans Fund Raise
  • Logistics Firm ColdEX Plans PE Fund Raise
PE Fund News:
  • Centrum Capital, Former Indiareit Head Ramesh Jogani Float Realty Fund
  • Former Wells Fargo Realty Team To Float PE Fund
  • Reliance AIF Achieves First Interim Close; Invests In Four Projects
  • ICICI Venture launches $500m-targeting Fund IV
  • Indiabulls to launch private equity fund
Targets n Plans:
  • Savaari Car Rentals Plans Third Round Of Funding
  • Digital Marketing Firm Lycos Internet Plans Overseas Acquisition
  • Indian Pharma Majors Plan Brand Acquisitions For Strengthening US Presence
Corporate News:
  • Bain Capital sells 4.27% stake in Hero MotoCorp worth $400 million
PE Exit:
  • Motilal Oswal PE Exits Godrej Buildwell
  • Fairwinds PE Seeks To Exit International School Chain Pathways World
Corporate Exit:
  • Financial Technologies To Exit IEX
  • People Group To Exit Real Estate Portal Makaan.com
  • Central Bank Of India To Exit Housing Finance Business
Statistics:
  • Top private equity firms step up India investments
Best Regards,
Chaitali Neogy

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Research Analyst GATEWAY CAPITAL LIMITED (Licenced  by Financial Service Commision, Mauritius) Associate : Capitalcorp Consulting #208, The Business Centre, Nr. Burjuman Center P 0 Box 117465, Dubai ,UAE
 
M +971 50 4239009 
T +971  4 3795200, F +971 4 3795300 E mail: chaitalim@gatewayamc.com 
Website:www.gatewayamc.com
Private Equity    .  Strategic Advisory    WE HAVE MOVED TO OUR NEW OFFICE. PLEASE NOTE THE NEW ADDRESS.
 
 
 
 
 

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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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