NEXGEN · NEXGEN Financial Solutions Private Limited Private & Confidential Page 1 of 19 1. Our Introduction NEXGEN is a “SEBI registered (Category - 1) Permanent Merchant Banker”

NEXGEN Financial Solutions Pvt. Ltd.Merchant Banker. SEBI Regn No. INM 000011682

www.nexgenfin.comWeb: Email id: [email protected]

NEXGEN 709, Madhuban Building, 55, Nehru Place, New Delhi – 110019

Tel.: + 91-11-30682000 , Fax : + 91-11-30682111

Financial Solutions Pvt. Ltd.together we can...

Corporate Write-up

NEXGEN Financial Solutions Pvt. Ltd.Category - 1 Merchant Banker. SEBI Regn No. INM 000011682


NEXGEN

NEXGEN An Introduction: NEXGEN Team’s Deals include:

709, Madhuban Building, 55, Nehru Place, New Delhi – 110019

Tel.: + 91-11-30682000 , Fax : + 91-11-30682111

Debt Syndication

Term Loan Syndication

Working Capital Syndication

Financial Restructuring

IPO & Pre IPO Advisory Services

Private Equity Syndication

Fair Valuation of Shares

Valuation for Equity Placement

Valuation Services

Valuation for Relisting Purposes

Portfolio Valuation for Investors

Fairness Opinion & Valuation for

M&A of Listed Companies

Advisory

Services

International

Capital Market Services

Domestic

Capital Market

Services

Domestic Market Offerings

Initial Public Offer , Follow on Public Offer,

Buy Back Offering, Delisting, Disinvestment

Qualified Institutional Placements

Corporate Bond Issue

Integrated services starting from planning

up to successful execution for the following:

ADRs/ GDRs/ AIM Listing

Foreign Currency Convertible Bonds

Rights Issue, Preferential Allotment

NEXGEN

International Market Offerings


.......................................................................

: Valuation of Global Corporates

Companies

SEBI Registered (Category - 1) Permanent Merchant Banker

NEXGEN Financial Solutions Pvt. Ltd.Merchant Banker. SEBI Regn No. INM 000011682


NEXGEN 709, Madhuban Building, 55, Nehru Place, New Delhi – 110019

Tel.: + 91-11-30682000 , Fax : + 91-11-30682111


Corporate Brief

NEXGEN Financial Solutions Pvt. Ltd. (“NEXGEN”) is a SEBI Registered (category - 1)Permanent Merchant Banker provides integrated Debt & Equity Solutions to power Sector, especially the Clean Energy Sector. NEXGEN’s track record includes:

@ More than Rs. 50,000 Cr (US $ 8 bn approx.) of Fund Raising during last decade including : § Gujarat State undertakings: Rs. 32,000 Cr. (approx.)

§ Private Sector : Rs.10,000 Cr. (approx.)

§ Other States : Maharashtra, Rajasthan, Andhra Pradesh, Himachal, Madhya Pradesh & others

@ Financial Advisory practice covering : § Power Generation§ Power Transmission & Distribution§ Roads & Highways

@ includes : § Financial Advisor to Gujarat Solar Mission - 2009.§ Largest Solar Power Financial Advisors With Financial Closure in excess of

400 MW (6% of India’s Solar Financing)

@ VALUATION ADVISOR to Global Leaders including :

@ PROUD about : Repeat business of all clients – Govt. & Private Sector

Renewable Energy Focus

ExxonMobil Corporation, USA Nestle, S.A. Schneider Electric, S.A LinkedIn Corporation, USA First Solar Inc., USA Parexel International Corporation, UKPearson Plc, UK Fabindia Overseas Pvt. Ltd., IndiaEvalueserve Limited, Bermuda NCR Corporation, USA

& others……

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(Now taken over by Microsoft)

NEXGEN Financial Solutions Private Limited

Private & Confidential www.nexgenfin.com Page 1 of 19

1. Our Introduction

NEXGEN is a “SEBI registered (Category - 1) Permanent Merchant Banker” with current focus on Infrastructure especially Clean Energy Sector. It provides following products and services:

1.1 Debt:

Debt Syndication - Syndicating Debt for the various State Govt., SLUs, Private & Public owned Corporations

Debt Restructuring - Restructuring the terms including the Interest Rate, Tenor & others to achieve desired efficiency by the borrower

Corporate Bond Issue & Placement

1.2 Equity:

Private Equity from PE Fund Managers

IPO & Pre IPO Advisory Services

Managing Public Offerings – IPO, FPO, Rights Issue, QIP, Preferential Allotment, etc.

1.3 Valuation Services:

Fair Valuation of Shares

Valuation for Equity Placement

Portfolio Valuation for Investors, Lenders etc

Fairness Opinion & Valuation for M&A of listed companies

Our team has to their credit a total experience of Fund Syndication in excess of Rs. 50,000 cr (more than US $ 8 bn) in the last few years for Infrastructure Sector.

NEXGEN’s, Team has served other various respected & reputed clients including:

State Govt. (Rs. 3,300 cr - Debt) (Andhra Pradesh, Rajasthan, Nagaland &

Himachal Pradesh), State Govt. Undertaking (38,000 cr – Debt & Rs. 2,000 cr – Equity)

Gujarat(Rs.31,075 cr.) : GSEG, GIPCL, GACL,GEB, GUVNL,GSECL,BECL, GPPC, GETCO

Financial Advisor to Gujarat Solar Mission since 2009

Maharashtra( Rs. 625 cr.) : MSEB, MSRDC



Madhya Pradesh( Rs. 650 cr.) : NHDC

Andhra Pradesh (Rs. 150 cr.) : HMWSSB

Himachal Pradesh ( Rs. 500 cr.) : HPSEB, HPIDB

Bihar (Rs 2114 Cr.) : BSPHCL, BSPGCL

Central Govt. Undertaking (Rs. 3,200 cr – Debt) : SJVNL

Private Sector Infrastructure Companies (Rs. 10000 cr.) (Jaypee Group, CSEC, OPG, HPPPL –formerly known as Moser Baer etc.)



2. Our Board of Advisors :

2.1 Mr. J.P Gupta, Chairman

He has done Ph. D (Polymer Engineering) from University of

Toronto, Canada & M. Tech (Process & Plant Design) from I.I.T, Delhi

He has 35 years of professional experience in India & abroad and seven

years teaching experience at University of Toronto

Presently serving as Chairman, Environmental Impact Assessment,

Ministry of Environment, Forest and Climate Change, Govt. of India

He is advisor at PHD Chamber of Commerce.

His more than 20 research journals are published & is author of Book

titled Selected Industrial Chemicals published by S. B. Publications

2.2 Ms. Mohua Mukherjee, Member

She holds a dual graduate degree from Harvard University & Boston

University, Boston.

Program Ambassador at International Solar Alliance & Former India

Energy Head, World Bank

27 years of experience as a Senior Development Economics professional

at the World Bank.

Extensive experience with policy issues plus project design and

implementation support as well as evaluation support for sustainable

development projects in forty-three (43) countries across six

geographical regions (LAC, ECA, MENA, AFR, SAR, EAP)

2.3 Mr. R. P. Gupta, Member

He is Bsc. (Civil Engineering) from Delhi College of Engineering & 1st

position holder in India in Indian Railway Service of Engineers in

1973

He served as Addl. Member (Works) in Railway Board

He has also served as Vice Chairman, Rail & Land Development

Authority & served more than 32 years in Railway



He has experience of dealing with International funding agencies such

as OECF/Japan, ADB and World Bank, for arranging funds for Rail

examination of their financial viability Projects ; Global Contracting ;

Public Sector Administration, Construction Management ; Real Estate

& Arbitration areas.

2.4 Mr. Hitender Mehta, Member

• He is a FCA, FCS, L.L.B • Former Chairman of NIRC ICSI – Calendar Year 2008

• Practicing lawyer in areas like Corporate, Tax and Business Advisory Services

• A recognized expert on SEZ Policy & Procedure

2.5 Mr. Anoop Murari, Member

• He is has done M.Sc. (Chemistry) from IIT, Bombay and MBA from IIM,

Calcutta

• He has over 30 years of rich work experience in India and abroad.

• He has worked with leading organisations, like Union Carbide India

Ltd., Shipping Corporation of India Ltd., W.J. Towell & Company,

Muscat, Killick Nixon Ltd., Apple Computers Inc. and Turner Morrison

Ltd.

2.6 Mr. B. L. Gupta, Member

He is MBA (Finance) from Kurukshetra University & CAIIB qualified professional.

He has done various trainings on Asset Liability Management from Euro Money (Paris) ; Derivatives from IIM, Ahmedabad ; Leadership Development from Kellogg School of Management, Chicago (USA) & IIM, Bangalore.

He has diversified Banking & Finance experience spanning over 37

years in Corporate & Project Finance and Banking Operations

He has expertise in managing FOREX operations, NRI business, Trade & Services viz., Imports & Exports, Bills (Discounting & Collections), LC & BG ; Large Corporate Advances of over ₹5,000 crs ; Strategic Business Planning; structuring Infrastructure Projects & appraisal of PPP and non-PPP.



2.7 Mr. Noha Schmidt, Member

He is MBA (Finance)from University of Washington

He is a Finance professional with a wealth of knowledge and experience in economics, capital markets and investment analysis

He is holding FINRA Series 7 License – investment securities representative & FINRA Series 63 License - uniform securities agent

He is serving as Senior research Analyst in Verus Investments, Seattle WA

Earlier he has served as Portfolio & Trading Analyst in Russell Investments, Seattle WA



3. Our Board of Directors

3.1 Mr. Sanjeev Gupta, Managing Director & Co- Founder

He is a Chartered Accountant with around twenty five years’ experience

in the Corporate Finance, Investment Banking & Advisory industry.

He has been trained in ‘Due-Diligence, Private Equity, Valuation of

Enterprise & Venture Capital Industry’ at a course conducted at

Singapore.

He is accredited with more than Rs. 50,000 Crores of Fund Raising in the

last few years itself.

Has been the Visualiser & Co-founder of an Indo – US Joint Venture

Company focused to launch a “Private Equity Fund” in India.

Has also been recommended by the NASSCOM (to their member

Companies) since 1995 for his capabilities to catalyse funds for the

growth of companies in the “hi-technology & knowledge” industry.

Have spearheaded raising of funds (Debt and equity) in excess of

Rs. 30,000cr (US$ 6 bn) both nationally and internationally.

4. 3.2 Dr. Dev Raj Goel, Director

He holds a Master's Degree in Arts and Education, Bachelor degree in

Law and Diploma in Planning and Management from National Institute

of Education Planning and Administration (NIEPA).

Mr. Dev Raj Goel is a retired Senior Government Official and has

served many prestigious positions during his tenure with Government

of Delhi. Apart from his excellent relationship skills, he has enviable

networking with many bureaucrats especially in banking and finance

industry.

3.3 Dr. Namita Gupta, Director

Qualified BHMS, with an experience of more than 8 year in Fund

raisings.

She has handled transactions in both debt & equity segment in excess of

2700 crs.



4. Our Team

4.1 Mr. Dhawal Maheshwari

He is a post graduate (MBA - Finance & International Business) from

Jaypee Institute of Information Technology (J.I.I.T.), Noida.

He is banking professional having an experience of 6 years in Financial

Management, Financial Planning & Analysis, Corporate Finance,

Financial Modeling, Financial Reporting, Operations Management,

Budget Management, Business Analytics, Debt Syndication, Debt

Restructuring, Investor Relations, Corporate Strategy and Mergers &

Acquisitions.

He is having a good experience of handling big teams on PAN India

basis. He has built teams and led them to consistently exceed stringent

goals in the competitive environment.

4.2 Mr. Atul Surana

He is a Chartered Financial Analyst (CFA) from Institute of Chartered

Financial Analysts of India (ICFAI) and PGDBA from Symbiosis, Pune,

He is having an experience of more than 4.5 years in Corporate Finance

– Debt Syndication, Valuation, Govt. Advisory, Origination and

Execution, Appraisal of Corporates for project finance, working capital, Lease

rent discounting, term loans, & other structured products of the Banks.

4.3 Mr. Vikas Luhach

He holds graduation degree from University of Delhi and masters from IIM

Shillong.

His current area of operations includes Debt Syndication, Financial Analysis,

Advisory and Market Research.

In the past, he has been involved in projects on Equity Research, Derivatives

Market and Credit Risk in banking sector.



4.4 Ms. Sonia Batra

She is an Associate Company Secretary having 2 Years of experience.

She is a Commerce Graduate from Shaheed Bhagat Singh College.

She possesses in-depth knowledge of Corporate Law affairs; proficient

in managing a vast array of secretarial issues, drafting/ vetting various

secretarial, commercial agreements and

legal documents and resolving critical

secretarial and legal issues.

She has expertise in providing advisory on India setup, incorporation

and structuring of entities, M&A deals, negotiations of contracts,

ESOP structuring, due diligences, FEMA matters, managing regulatory

and legal compliances, representation of corporates with various

government authorities like the Reserve Bank of India, Registrar of

Companies.

4.5 Mr. Mayank Aggarwal

He is a MBA (Finance + Marketing) from BVP Delhi, M.COM from

IGNOU.

He has experience in Debt Syndication, Private Equity, Market

Research, Advisory & Data base management and being directly

working under the mentorship of companies Managing Director for the

development of new financial products for Indian Industry.

4.6 Ms. Ankeeta Sharma

She is an Associate Company Secretary

She is a Law Graduate with over 3years of experience and has

worked with brands like Times Group.

She specializes in Corporate Law, Corporate Compliances, Company

Incorporation, Drafting and vetting of various Secretarial, Legal

Documents and Agreements. She has handled RBI and FEMA matters

and compliances, Listing Compliances, NBFC Compliances, Corporate

due diligence, resolving critical secretarial and legal issues,

representation and liasoning with various regulatory authorities like the

Reserve Bank of India, Registrar of Companies & SEBI.



Team NEXGEN’s Track Record with GOVT. of GUJARAT Companies

EXECUTIVE SUMMARY

NEXGEN’s deep relationship with GUJARAT & Our contributions to Gujarat’s

Energy Sector is summarized below:

Rs. 20,000 Crore + of Debt – Syndication

Helping the turnaround of Gujarat’s Energy Sector, since 2001 (losses being

Rs.20,000 Cr around) to 2013 (all Government of Gujarat Companies being Profit making NOW).

Helping “Key Strategic” thought process in “Gujarat’s Energy Sector” including :-

Increasing efficiency in the Transmission & Distribution Sector of Gujarat.

Cost Saving including interest saving in Gujarat Govt Companies since 2001, continuously.

‘Innovative Financial Structuring’ in ‘GoG’s Energy Sector.

Associating & Catalyzing Innovative thought Process at “Pandit Deendayal Petroleum University (PDPU)”, at Gandhinagar, Gujarat.

Catalysing the thought process for “An Innovation & Incubation Fund”, at PDPU, at Gandhinagar.

Financial Advisor to Gujarat Solar Mission - part of the ‘think-tank’ since 2009: contributions including evolution of Gujarat Solar Power Policy – 2009, funding of Charanka Solar Project & Financial closure of Solar Power Developers.

One of the “LARGEST” - Solar Power Debt Syndicator in with an aggregate Debt Syndication of Rs. 1,890 Cr. achieving Financial closure of 250 MW (spread over 14 SPVs):

being 23% of total 1,000 MW executed in Gujarat till 15.07.2015. and 6% (+) of total 4,096 MW executed in India till 15.07.2015.



GUJARAT Transaction Track Record

Company Name of the

Client Year

Amount

(Rs. in Cr.) Execution

Gujarat Energy

Transmission

Corporation

Limited

Total (Rs in Cr):

5010

Mar’14 2400

Term Loan Syndication

Mar’13 900

Sep’10 575

Mar’09 1135

Total

5010

Gujarat State

Electricity

Corporation

Limited

Total (Rs in Cr):

3531

Aug’11 500 Term Loan Syndication

Mar’08 1300 Loan Syndication – current

effective rate is 9.9%

Mar’08 700 Pvt. Equity size of Rs. 500

cr. to 700 cr.

May’07 947 Loan Syndication

Sep’05 25 IFCI Term Loan

Restructuring

Sep’05 59

IDBI Term Loan

Restructuring- savings of

Rs. 0.96 crore p.a

Total 3531

Gujarat Industries

Power Company

Limited

Mar’13 925 Debt Re-structuring to the

rate of 10.50% p.a.

Jul’04 1050

Loan Syndication – Parallel

Sanctions received @ 7.75%

from 2 institutions

Nov’03 700

Financial Restructuring

from 14% to 9%, thus

saving Rs. 35 Crore

2003-04 220

Book Building Issue –

Leader of team

coordinating pre issue

responsibility

2003-04

220

Financial Reengineering –

achieved premium of Rs.

7.5 Crore on bond sale



Total (Rs in Cr):

3115

Total 3115

Bhavnagar

Energy Company

Limited

Total (Rs in Cr):

259

Feb’11 259 Co- arranger for Loan

Syndication

GSPC Pipavav

Power Company

Limited

Total (Rs in Cr):

700

Jan’08 500 Private Equity

Jan’08 200 Loan Syndication

Total 700

Gujarat Electricity

Board

Total (Rs in Cr):

9328

Jun’05 127

REC Term Loan

Restructuring to cut costs

Jun’05 200

Loan @ 7.5% p.a. fixed in

increasing interest rate

scenario of March 05.

Jun’05 4046

Structured Interest Rate

Swap of Bond Liabilities of

GEB

Jan’05 2684

Restructured WC loans

from 12 banks- saved Rs.

12 cr. p.a.

Dec’04 1171

Term loan Restructuring

achieved from LIC & PFC

in record time of 1 month

Jun’04 100

Loan Syndication at 7%

p.a. fixed

Jan’04 1000

LIC in a path breaking

initiative restructured GEB

bonds

Total 9328



Gujarat Urja Vikas

Nigam Limited

Total (Rs in Cr):

673

Oct’05 160

Savings of Rs.3.2 crore p.a.

achieved from REC interest

rate of 10.5%

Sep’05 415

Unlocking Assets &

Reduction of Term Loan

Interest Rate from 9% to

7.5%

Apr’05 98 Bond Buyback of Rs. 98

crore

Total 673

Gujarat State

Energy Generation

Corp. Ltd.

Total (Rs in Cr)

437

2003-04 217 Debt Restructuring from

14.5% to 7% p.a

2003-04 220

Financial Restructuring-

Restructured from 13.25%

to 9.5%

Total 437

Gujarat Alkalies

and Chemicals

Ltd. Total (Rs in Cr):

800

2003-04 800

Corporate and Financial

Restructuring- Brought

interest rate from 14% to

7.23%

Tourism

Corporation

of Gujarat Ltd.

Evaluation of various

divestment options of the

properties

Total – Gujarat

Rs. In Cr. 23,853

23,853



Team NEXGEN’s Track Record

with PRIVATE Sector Companies

WORK Done under GUJARAT Solar Mission

Company Name of the Client Year Amount


Hindustan Cleanenergy Ltd.

Financial Closure of 250 MW Solar Power Project (Work done under Gujarat Solar Power Mission)

Mar’11-Till date

1890 Term Loan Syndication (14 SPVs)

OTHER Private Sector Companies

FACOR Power Ltd. Ongoing 510.98

Debt Restructuring

Adani Power Ltd. Feb’16 1000 Term Loan Syndication

Facor Power Ltd. Oct’14 50.86

Loan Syndication

NSL Nagapatnam Power

& Infratech Ltd.

Jul’16 –

Till date 125

Settlement of Dues & Monetization of Assets

SEW LSY Highways

Limited

Nov’13-

Till date

1824 Reappraisal of the project

(post Shift in COD)

260 Quasi Equity Syndicated

400

Take out funding (replacing existing Lenders)

343.53 VGF Funding

Total (Rs. In Cr.) 2827.53

SEW Infrastructures

Limited Nov’13 150

Quasi Equity Funds – For BOT Projects

OPG Power Gujarat Ltd. Nov’11 810

Term loan for 300 MW Solar Power Plant

Ganesh Housing Corporation Ltd.

Apr ’10-Apr ’11

49 Term Loan Syndicated



Swiss Park Vanijya Pvt. Ltd

Jan ’11 50 Term Loan for upcoming 5 MW Solar Power Plant under JNNSM

Total 5522.51

Team NEXGEN’s Track Record

with Other STATE GOVT. Companies

Company Name of the Client Year Amount


BIHAR TRANSACTIONS

Bihar State Power

Generation Company

Ltd.

Mar’13 1248

Debt Syndication -

Project Finance

North Bihar Power

Distribution Company

Limited

Jan’13 215

Financing under Part B

of R-APDRP Scheme

South Bihar Power

Distribution Company

Limited

Jan’13 651 Financing under Part B

of R-APDRP Scheme

HIMACHAL PRADESH TRANSACTIONS

Himachal Pradesh State

Electricity Board

2003-04 250 Loan Syndication

Himachal Pradesh

Infrastructure Dev.

Board


Satluj Jal Vidyut Nigam

Limited 2003-04 1300 Loan Syndication

Govt. of Himachal

Pradesh 2003-04 500 Loan Syndication

ANDHRA PRADESH TRANSACTIONS

Govt. of Andhra Pradesh 2003-04 1200 Loan Syndication



Hyderabad

Metropolitan Water

Supply and Sewerage

Board


RAJASTHAN TRANSACTIONS

Govt. of Rajasthan 2004-05 1200

Loan Syndication

NAGALAND TRANSACTIONS

Govt. of Nagaland 2003-04 407 Financial Restructuring

MAHARASHTRA TRANSACTIONS

Maharashtra State

Electricity Board 2003-04 160 Debt Restructuring

Maharashtra State

Road Development

Corp. Ltd.

2003-04 465

Loan Syndication of Rs.

250 crore for Bandra

Worli Sealink and Rs.

215 crore for Pune City

Integrated Road

Development Project

MADHYA PRADESH TRANSACTIONS

Narmada Hydro

Development

Corporation


KARNATAKA TRANSACTIONS

Krishna Bhagya Jal

Nigam Limited

Advisor for Financial

Restructuring – Existing

High Cost borrowings

swapped with Low Cost

Funds.

CENTRAL GOVERNMENT UNDERTAKING TRANSACTIONS



National Highway

Authority of India Aug’03

Financial Advisor – JV

Partner Search for

Jetpur- Rajkot Bypass

National Highway

Authority of India

Mar’04

Financial Advisor- JV

Partner Search for roads

on NH-3 &NH-33

Our VALUATION Track Record

Company Name of the Client Year Execution

ESOP VALUATIONS

LinkedIn Corporation, USA

(An Online Professional Network Website)

Nov’11-

Aug’16 34 Assignments

Axiom Global Inc., USA

(A leading law firm)

Jan’17-

June’17 2 Assignments

Fabindia Overseas Pvt. Ltd., India

(India’s largest Company for making

traditional and hand based products)

Mar’14 –

April’17 8 Assignments

Organic India Pvt. Ltd, India

(It is an internationally certified Organic Health

& Wellness Products Manufacturing and

Marketing Company)

Mar’15 –

April’17 3 Assignments

Nestle, S. A.

(World’s leading Nutrition, Health and

Wellness Company)

Mar’12-

Mar’16 6 Assignments

First Solar Inc., USA

(Global provider of Photovoltaic (PV)

Solar Energy solutions Company)

May’13-

March’17 5 Assignments

Parexel International Corporation, UK

(A Leading global bio/pharmaceutical

services organization)

Dec’13 –

March’17 7 Assignments



Pearson Plc, UK

(A World leading learning Company)

May’10-

Dec’13 6 Assignments

Evalueserve Limited, Bermuda

(A Global Specialist in knowledge

process)

Nov’13 –

July’15 7 Assignments

Schneider Electric, S.A

(Global Specialist in Energy Management)

Nov’13 –

June’17 12 Assignments

NCR Corporation, USA

(A Global Technology Company) Aug’13 3 Assignments

Quintiles Transnational Corp., USA

(Leading player in Global Pharmaceutical

services)

July’12 1 Assignment

ExxonMobil Corporation, USA

(World’s largest publicly traded

International Oil & Gas Company & also

the world’s largest Company by Revenue)

Dec’11 1 Assignment

EAST Limited, UK

(A Branded Fashion clothing for Women) Sep’11 1 Assignment

Avery Dennison Corporation, USA

(A Global manufacturer and distributor of

pressure-sensitive adhesive materials)

June’11 1 Assignment

ALCOA Inc, USA

(World’s 3rd largest producer of

Aluminum)

Mar’11 1 Assignment



Saviance Technologies Pvt. Ltd., India

(An IT Solutions Provider Company) Jan’11 1 Assignment

UNICON Financial Intermediaries Pvt. Ltd.,

India

(Investment Services Provider Company)

Dec.‘10 1 Assignment

CPP Group Plc, UK

(Assistance Business Provider Company) July’16 1 Assignment

FAIRNESS OPINION

Pearl Global Industries Limited

(A Multinational ready to wear apparel

Manufacturing Conglomerate)

Apr’13

Certificate in Scheme

of Amalgamation &

NOC from SEBI, NSE

& BSE for subsequent

listing

MINDA Industries Limited, India

(Manufacturer of Auto Electrical & Light

System)

May’10-

Oct’10

Fair Opinion Certificate

in Scheme of

Amalgamation

SPECIAL PURPOSE VALUATIONS

Asian Hotels North Limited

(One of the leading player in the Indian

hospitality industry operating under the

brand Hyatt Regency Hotels)

Apr’14 –

Aug’15

3 Assignments -

Under regulations

10(1)(v)(i) SEBI SAST

Regulations, 2011

Fabindia Overseas Pvt. Ltd., India

(India’s largest Company for making

traditional and hand based products)

Sep’12 Valuation as per FEMA



Saviance Technologies Pvt. Ltd., India

(An IT Solutions Provider Company) May’11

Private Equity

Valuation