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Some of the news-making transactions in which PKC provided significant value add to the client through its advisory services include:
Ventureast invests in Orion Edutech
Orion Edutech Pvt Ltd., an India based BPO training provider, has raised funding from Ventureast Funds for a significant minority stake. Established in 2006, Orion presently has over 150 training centres across India, Bangladesh & Bhutan under their brand Orion Calltech.
PKC was the exclusive advisor to Orion on this deal. PKC assisted Orion right from the preparatory stage of fund raising to deal closure. PKC advised the client in finalizing their business plan, preparing detailed financial model and Information Memorandum. In the fund raising stage, PKC shortlisted the potential investors, solicited their interest, arranged for meetings and presentations along with Orion and assisted in addressing the investor queries. In the final stage, PKC assisted the Client in discussion on valuation, deal negotiation and closing.
KIPCO completes US$ 500mn bond issue
Assistance to Kuwait Project Co. Holding (KIPCO) in issuing a debt of US$ 500 mn under its EMTN program
KIPCO was looking at tapping the international markets to raise US$500 mn under its EMTN program. PKC assisted KIPCO in the debt raising exercise by providing support at all stages during the issuance process. PKC assistance started with the selection of Investment Banks by way of participation in calls, evaluation of proposals submitted and by providing market updates on recent happenings . In addition, PKC managed preparation process for the prospectus as well as co-ordination with auditors and legal counsel on documentation. PKC also assisted in both business and legal due diligence together with data room preparation and management as well as response coordination to due diligence queries.
PKC then assisted KIPCO in preparing road show presentations and provided off-site road show support, including addressing investor queries. PKC was earlier involved in the establishment and annual update of the EMTN program. The services provided by PKC helped KIPCO to achieve a successful issue which was oversubscribed by more than six times
Qtel Buys 51% Stake in Wataniya
Advisory Assistance to Kuwait Projects Co. (KIPCO) in Wataniya’s Stake Sale
PKC played a vital role in advising KIPCO through the entire process of divesting its stake in Wataniya, a leading telecom operator of MENA region, from inception to closing stage, along with the investment bankers. The scope of work included benchmarking of operational and financial KPIs, formulating detailed business plan and financial modeling of the telecom company’s operations in various countries. Further PKC assisted the investment bankers in preparation of teasers and information pack to be sent to potential buyers and valuation of the company to support KIPCO’s negotiations with the potential buyers. PKC was also instrumental in setting up the virtual data room and addressing buyer queries. PKC’s speed of execution and quality of deliverables assisted in the smooth closing of the transaction in record time with QTel acquiring a controlling stake in the company.
Showtime Announces Merger with Orbit
Transitioning Assistance to Showtime’s Merger with Orbit
PKC provided advisory support to Showtime, a leading Pay-TV operator in MENA region, during negotiation and finalization of the merger deal with Orbit, another pay-TV operator in the region. The scope of work included preparation of detailed business plan and financial modeling with projections and valuation of the Merged Company and assistance in updating/modifying the financial model, as the process progressed. PKC also provided constant support in coordination among the Merger Committees (like Marketing, Sales & Distribution, Technology/Platform Security, Finance/Legal, etc.), ensuring that the decision and plans of all the Committees were linked and got incorporated in the Merged Company business plan and model. PKC further assisted the Client with evaluation of key strategic issues during the course of the integration and setting up of the virtual data room.
GTT Raises $8 Mn in 1st Phase of Funding
Assistance in Raising Funds for Global Talent Track (GTT)
GTT is a Greenfield education venture founded in 2008 by Dr. Uma Ganesh, a veteran of the Education industry & provides vocational education services in India & abroad and runs vocational training centres in India. Its advisory board includes luminaries like former Nasscom chairman and CEO of Zensar, Dr. Ganesh Natarajan; former president of Nasscom, Mr Kiran Karnik and Prof Bob Eccles of Harvard Business School.
PKC provided end-to-end assistance to GTT in fund raising, at various stages of the transaction, starting from preparation of business plan to closing the deal. PKC assisted in preparation of detailed business plan, including the financial model with projections & valuation and detailed Information Memorandum. PKC presented the detailed business plan to the interested PE/VC funds along with GTT and lead discussions which included responding to queries raised by the potential investors, assistance in negotiating with the interested PE/VC funds on valuation, analyzing term sheets from interested PE/VC funds and assistance in deal structuring. PKC also provided coordination support for the proposed venture’s legal & financial due diligence & finalizing the closure of Shareholder & Share Subscription Agreements.
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