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Overview

For its cutting edge research ideas and expertise in diverse areas, Elara Capital has become a much-sought after institution for the media in a short period. The global footprint, a closely knit team of professionals with expertise in research, stock markets, alternative fund raising, investment banking and a proactive approach to media requests guide Elara’s media policy. Besides using discretion about the request and the relevance, Elara believes in dispersing accurate and acute analysis to readers at large.

Media & Press Releases

Press Notes

Largest Vietnamese company, HAGL raises USD60mn through GDRs

Elara helps HAGL sell Vietnam’s surge to global investors

Hanoi: Hoang Anh Gia Lai Joint Stock Company (HAGLJSC), the largest private sector company in Vietnam with a market capitalization of US$1.23billion, has successfully raised USD60million through a GDR offering to international investors. The GDR will be listed on the London Stock Exchange (LSE) in the coming weeks. Elara Capital Plc, UK was the lead manager and global coordinator for the issue. This is the first ever overseas listing by a Vietnamese company, and to mark the occasion, LSE is hosting a special ceremony.
The issue received an overwhelming response from investors, majority being long only emerging market and frontier market funds, eagerly lapping up the explosive growth potential in the Vietnamese economy. Investors thronged in as the instrument provided an effective route to participate in one of the fastest growing frontier markets in the world without having to access the domestic equity market or take a direct exposure to the Vietnamese Dong.

HAGL is the largest private sector company in Vietnam. Since 2006, the company has seen an incredible growth in revenues from USD$32million to US$243.31million in 2009 and Profit after Tax from US$5million to US$72million. Analysts estimate that HAGL owes its aggressive growth to its strong real estate presence, and diversification into high margin businesses like hydro power, iron ore mining and rubber plantation. HAGL is projected to offer earnings CAGR of over 50% in the coming years.
Commenting on the successful issue of HAGL, Raj Bhatt, vice-chairman and CEO of Elara said his company was also talking to several Malaysian, Indonesian and Philippine issuers who are keen to list abroad, probably in the US, London or Singapore in 2011. Deutsche Bank Trust Company is the depository to the HAGL GDR issue and Sacombank Securities JSC Vietnam is the financial advisors to the company.

About Elara Capital: Elara Capital Plc is a full scale service investment bank, having a global foot print and offices across Mumbai, Singapore, New York, Dubai, Zurich, Mauritius, and continental Europe. Authorized and regulated by the Financial Services Authority (FSA) in UK and registered as a Category A investment bank, Elara caters to the funding requirements of growth hungry medium and large corporations from emerging markets. Elara has so far completed transactions worth USD2.5bn and has expanded the scope of its services to include M&A and Private Equity Advisory Practice, Broking Services and Asset Management.

Contacts:
Elara Capital Plc- Joseph Mammen – Head of Sales and Trading
: +4420 7467 5578, joseph.mammen@elaracapital.com

Elara Capital ensures overwhelming investor response to Prakash Industries Ltd FCCB issue

New Delhi, April 28, 2010:

The global appetite for the Indian paper seems to be steadily growing even amid fresh signs of an economic strain across Europe and the United States. Prakash Industries Ltd (PKI), a fully integrated steel manufacturer with captive iron ore, coal and power linkages, received an overwhelming response to its USD50 million Foreign Currency Convertible Bonds (FCCBs) issue from a large number of overseas institutional investors who committed more than USD100 million. The green shoe option of USD10 million was exercised, taking the total issue to USD60 million.

Prakash Industries is one of the first few mid-market Indian companies to tap international markets for fund raising after the global financial meltdown that spanned over 2008-09. The first tranche of the FCCB issue worth USD50 million in November 2009 had also received a similar response among these investors. Commenting on the closure of the books, Mr. V. P Agarwal, Chairman & Managing Director of PKI said, "We are very happy that investors continue to bestow their faith in our plans as we are committed on delivery, and carry that responsibility on our shoulders."

Proceeds from the issue will be used to part finance an addition of 675MW capacity (total at 775MW) to the captive power generation of the company. Of this, 625MW capacity will be based on thermal power generation for which it has already received the necessary coal mine allotment.

Elara Capital Plc, London was the Sole Lead Manager and Book runner for the issue. The bonds, to be listed on the Singapore Stock Exchange, will be due for conversion in April 2015. The issue had a green shoe option of a further USD10 million, pursuant to the Over-allotment Option, which was retained. The bonds received exceptionally good response from the investor base in Europe and US with a commitment of almost twice the issue size. “Besides our strong product knowledge and close ties with institutional investors, the renewed investor interest in mid-size companies overwhelmingly helped us close the issue at USD60 million,” said Ajay Pandey, Director and COO of Elara Capital Plc.

Elara Capital acts as financial advisor for Godrej's acquisition of Issue Group

We are pleased to announce that Elara Capital acted as the financial advisor to Godrej Consumer Products Ltd (GCPL) on its acquisition of Laboratorio Cuenca S.A., Consell S.A., Issue Uruguay and Issue Brazil (Issue Group). This is the first-ever acquisition in the Personal & Hair Care segment by an Indian FMCG Company in the South American Continent.

Issue Group enjoys a strong leadership position in the Argentine hair colour market & dominates the mass segment. The Issue brand enjoys volume leadership in Argentina with a market share in excess of 20% and is also a market leader in other Latin American countries like Paraguay, Peru and Uruguay with an emerging presence in Brazil.

The Group posted revenues of over USD33mn in 2009. The transaction is valued at approx. 8 times EBITDA. This acquisition provides a self-sustaining platform for GCPL’s portfolio of products – Hair care and Household insecticides throughout Latin America. The hair colorants market in Argentina is estimated to be around US$200mn growing at a CAGR of more than 22% over the last two years.

Adi Godrej, Chairman, GCPL said “the Issue Group provides us the perfect platform for establishing a strong presence in the fast growing hair colour markets in Latin America. Argentina and Brazil are leading vanguards of hair trends and innovations in hair care. The Issue Group enjoys market leadership in many countries in South America including a presence in Brazil. We also hope to use the strengths of the offerings of the Company and our own innovation funnel to create a sizeable business in hair colour in Brazil. Knowledge and exposure to these markets will also help strengthen our technology and product development funnel in India”.

A. Mahendran, Director, FMCG Portfolio Cell added “the Issue Group has a heritage of a quarter of a century in serving the needs of the Latin American consumer through innovative and complementary offerings. We also believe that the opportunities for capitalizing on the strengths of this business across our entire hair colors business are significant”.

Media & Press Releases

Elara Events

Elara Capital conducts periodical events such as high profile interactions, theme based conferences and road shows for a larger audience.

Deflation or Depression?

Deflation or Depression?

One such event was conducted was in March 2010 at Mumbai when Elara brought renowned authority on global currency markets, Avinash D Persaud and eminent economist Ila Patnaik to discuss the probable, possible and potential scenarios under the title :

Deflation or Depression? Inflation or Boom? What does the future hold for investors?


Morpheus at Mumbai and London

Morpheus at Mumbai and London

Morpheus at Mumbai and London

Elara Capital organized the global road show titled, Morpheus at Mumbai and London, finely structured to facilitate a far greater interaction between India’s booming middle level companies and the potential institutional investors in February and March 2010. Elara Capital has well ingrained relationships with more than 200 leading and emerging corporates. With over 300 global investor relationships and a robust sales and sales trading desk across asset classes and major geographies (UK, Singapore, US, and India), it is uniquely positioned to create a steadfast value for clients.

Deflation or Depression?

Related Links

Media & Press Releases

Godrej's Acquisition of Issue Group

We are pleased to announce that Elara Capital acted as the financial advisor to Godrej Consumer Products Limited (hereinafter referred to as “GCPL”) on its acquisition of...

Prakash Industries Ltd (PKI) receives impressive response to its USD50 million FCCB issue

The global appetite for the Indian paper seems to be steadily growing even amid fresh signs of an economic strain across Europe and the United States....