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Niren Patel

Partner at Khaitan & Co

Lawyer

Mumbai

Deal Bio

Total Deals25

Valued Deals16

Total Value£ 3.37 B

Avg. Deal Size£ 211 M

Market Context

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16 Jan 2020|India|Building Materials: Other

$Calderys India Refractories$

Target: HIL (CALCIUM SILICATE INSULATION PRODUCTS DIVISION)

Bidder: CALDERYS INDIA REFRACTORIES LIMITED

5 Service Providers

3 Bidder | 2 Vendor

13 Dealmakers

4 Bidder | 9 Vendor

£ 9 M

Value

21 Aug 2020|India|Asset Managers and Custodians

Target: YES TRUSTEE LIMITED

Bidder: WHITE OAK INVESTMENT MANAGEMENT PRIVATE LIMITED

5 Service Providers

2 Target | 2 Bidder | 1 Vendor

21 Dealmakers

2 Target | 17 Bidder | 2 Vendor

n/a

Value

03 Jan 2020|Germany|Specialty Chemicals

Target: TRAXIT INTERNATIONAL

Bidder: FREUDENBERG CHEMICAL SPECIALTIES

7 Service Providers

1 Target | 6 Bidder

34 Dealmakers

3 Target | 31 Bidder

n/a

Value

10 Jan 2020|India|Full Line Insurance

Target: DHFL GENERAL INSURANCE LIMITED

Bidder: NAVI TECHNOLOGIES

3 Service Providers

1 Bidder | 2 Vendor

6 Dealmakers

1 Bidder | 5 Vendor

£ 20 M

Value

15 Jul 2020|United States|Software

Target: AVATAR INTEGRATED SYSTEMS INC

Bidder: SIEMENS AG

3 Service Providers

1 Target | 2 Bidder

6 Dealmakers

1 Target | 5 Bidder

n/a

Value

01 Mar 2021|India|Pharmaceuticals

Target: ANTHEM BIOSCIENCES PVT LTD

Bidder: TRUE NORTH

3 Service Providers

1 Target | 2 Bidder

18 Dealmakers

1 Target | 17 Bidder

n/a

Value

20 May 2021|India|Digital Services

Target: LARSEN AND TOUBRO (NXT DIGITAL BUSINESS)

Bidder: MINDTREE

3 Service Providers

1 Bidder | 2 Vendor

6 Dealmakers

1 Bidder | 5 Vendor

n/a

Value

02 Aug 2021|India|Cement

Target: JSW CEMENT

Bidder: APOLLO GLOBAL MANAGEMENT INC

4 Service Providers

2 Target | 2 Bidder

37 Dealmakers

30 Target | 7 Bidder

£ 151 M

Value

04 Oct 2021|India|Pharmaceuticals

Target: INTEGRACE PRESS

Bidder: TEMASEK HOLDINGS LIMITED

5 Service Providers

2 Target | 1 Bidder | 2 Vendor

21 Dealmakers

2 Target | 1 Bidder | 18 Vendor

£ 53 M

Value

16 Sep 2021|India|Machinery: Specialty

Target: AVTEC (OFF-HIGHWAY TRANSMISSION PORTFOLIO AND OFF-HIGHWAY COMPONENT MACHINING BUSINESS)

Bidder: ALLISON TRANSMISSION INC

3 Service Providers

1 Bidder | 2 Vendor

12 Dealmakers

4 Bidder | 8 Vendor

£ 19 M

Value

18 Jan 2022|India|Paints and Coatings

Target: SHALIMAR PAINTS

Bidder: INFRA.MARKET

3 Service Providers

1 Target | 2 Bidder

15 Dealmakers

15 Bidder

£ 27 M

Value

12 Aug 2022|India|Insurance Brokers

Target: ADITYA BIRLA HEALTH INSURANCE

Bidder: ABU DHABI INVESTMENT AUTHORITY (ADIA)

6 Service Providers

2 Target | 4 Bidder

35 Dealmakers

12 Target | 23 Bidder

£ 69 M

Value

27 May 2022|Germany|Electrical Components

Target: SIEMENS (LARGE DRIVES APPLICATIONS)

Bidder: SIEMENS LARGE DRIVES INDIA PRIVATE LIMITED

2 Service Providers

2 Vendor

7 Dealmakers

7 Vendor

£ 46 M

Value

20 Jan 2022|India|Renewable Energy Equipment

Target: FLUENCE ENERGY / RENEW POWER JV

Bidder: FLUENCE ENERGY LLC

3 Service Providers

3 Bidder

8 Dealmakers

8 Bidder

n/a

Value

28 Dec 2022|India|Consumer Lending

Target: AVANSE FINANCIAL SERVICES

Bidder: KEDAARA CAPITAL

5 Service Providers

3 Target | 2 Bidder

39 Dealmakers

7 Target | 33 Bidder

n/a

Value

26 Jun 2023|India|Specialty Contracting

Target: STRATA GEOSYSTEMS

Bidder: INFRA.MARKET

4 Service Providers

3 Target | 1 Bidder

14 Dealmakers

13 Target | 1 Bidder

£ 87 M

Value

12 Jan 2023|India|IT Services: Other

Target: L&T (SMART WORLD & COMMUNICATION BUSINESS)

Bidder: L&T TECHNOLOGY SERVICES

5 Service Providers

2 Bidder | 3 Vendor

26 Dealmakers

14 Bidder | 12 Vendor

£ 77 M

Value

29 Sep 2023|India|Life Insurance

Target: NIVA BUPA INSURANCE

Bidder: BUPA

7 Service Providers

1 Target | 3 Bidder | 3 Vendor

32 Dealmakers

1 Target | 21 Bidder | 10 Vendor

£ 266 M

Value

06 Oct 2023|United States|Digital Services

Target: ILINK DIGITAL

Bidder: TRUE NORTH

8 Service Providers

4 Target | 4 Bidder

39 Dealmakers

16 Target | 26 Bidder

£ 61 M

Value

14 Oct 2023|India|Life Insurance

Target: NIVA BUPA INSURANCE

Bidder: TEMASEK HOLDINGS LIMITED

5 Service Providers

2 Target | 3 Bidder

25 Dealmakers

22 Target | 3 Bidder

£ 79 M

Value

15 Nov 2023|India|Diversified Industrials

Target: SIEMENS LTD INDIA

Bidder: SIEMENS AG

7 Service Providers

1 Target | 3 Bidder | 3 Vendor

48 Dealmakers

1 Target | 12 Bidder | 35 Vendor

£ 1.83 B

Value

30 Nov 2023|India|Cement

Target: KESORAM INDUSTRIES (CEMENT BUSINESS)

Bidder: ULTRATECH CEMENT LIMITED

7 Service Providers

5 Bidder | 2 Vendor

29 Dealmakers

25 Bidder | 4 Vendor

n/a

Value

28 Jul 2024|India|Cement

Target: INDIA CEMENTS

Bidder: ULTRATECH CEMENT LIMITED

5 Service Providers

1 Target | 4 Bidder

26 Dealmakers

1 Target | 25 Bidder

£ 366 M

Value

16 Aug 2024|India|Household Furnishings

Target: EBCO PRIVATE LIMITED

Bidder: WARBURG PINCUS LLC

5 Service Providers

3 Target | 2 Bidder

29 Dealmakers

25 Target | 4 Bidder

£ 208 M

Value

11 Nov 2024|United States|Software

Target: INTELLISWIFT SOFTWARE

Bidder: L&T TECHNOLOGY SERVICES

5 Service Providers

2 Target | 3 Bidder

15 Dealmakers

1 Target | 14 Bidder

n/a

Value