VLS Finance Ltd. (“VLS”) is a large financial services
company in India with a diversified portfolio of strategic Proprietary
Investments spread across sectors like Media, IT & BPO, Healthcare,
Transport / Logistics, Real Estate, Consumer Goods (Footwear), FMCG etc.
Over the years proprietary investments have been one of
the principal sources of revenue at VLS. The Company is credited as one of the
pioneers of private equity investing in India and has made a series of
investments in private and public companies.
KEY INVESTMENTS at VLS
Accelya Kale Solutions Limited
THe leading solutions provider to the Airline and
Travel industry Globally
Kale Solutions Limited is part of the Accelya Group, the leader in airline
financial and Decision Support solutions,and are a leading solutions provider
to the Airline and Travel industry. Formerly known as Kale Consultants Limited,
the company became part of the Accelya Group in 2011.
part of the Accelya Group, they help over 200 airline customers streamline
their financial processes and gain insights on business performance using
decision support tools and data analytics.
expertise spans across Revenue Accounting, Audit & Revenue Recovery, Credit
Card Management, Miscellaneous Billing, F&A Processes and Decision Support
& Analytics. As a strategic partner to IATA, they deliver robust industry
solutions including BSP, BSP Link, Neutral Fare Proration (NFP) and Simplified
Interline Settlement (SIS).
in depth experience and knowledge of the airline industry enable them to
upgrade their clients’ processes to industry best standards. Their presence in
10 countries across 5 continents makes it easier for them to reach out to their
Accelya, their customers not only get a strong partner but also the best minds
in the industry working for you.
International Amusement Limited
Entertainment & Amusement Company in India
Amusement Limited (IAL) was incorporated on 15th September 1984 by Mr. Gian
Vijeshwar, a Sweden based NRI with the primary objective to conceptualize and
set up India’s first amusement park Appu Ghar, which was inaugurated on 19th
November 1984. Spread over 18 acres of land, it housed 20 rides and a water
park on its premises.
In the summer of 1998, Appu Ghar started its
next chapter with the addition of its first water park “O.Y.S.T.E.R.S”
consisting of a wave pool, rain dance, lazy river, and multiple water slides.
O.Y.S.T.E.R.S donned various avatars throughout its life time converting the
water park into a snow park as well as a heated water park in the winters. Appu
Ghar successfully operated this park for over two decades and because of an
excellent recall value, the park received an average of 1.4 million visitors
The company's local
understanding and success story motivated it to bring forth more exciting
projects to the Indian palate in the year 2000. This was the start of a 150
acre project with a mix of amusement and commercial activities in Noida.
Designed to be built in phases, the company
launched a world class Theme Park, Worlds of Wonder in 2005 and forayed into
the retail segment by unleashing India's first million square foot mall. The
Great India Place has been rated the best mall in the NCR in 2010 and enjoys
over 1 million footfalls a month. In its next phase, IAL will launch Garden's
Galleria, a 560,000 sq. ft. mall featuring some the best Indian and
International luxury brands.
APOLLO HOSPITALS ENTERPRISES LTD.
THE Largest Hospital Chain in India
is the largest private healthcare provider in Asia and the fourth largest in
the world. Its business interests cover a broad base of healthcare related
services including hospitals, clinics, pharmacies, telemedicine, project
consultancy and operations management, medical BPO services, education and
research. It is India’s largest corporate entity in healthcare and manages 38
hospitals in and around India today.
invested in Apollo Hospitals through open market purchases of listed stock. The
thesis was based on huge shortage of quality healthcare services in India.
Apollo had emerged as a pioneer in providing quality healthcare services
through world class hospitals. The company had a vision of creating India’s
largest healthcare company on the lines of established corporate healthcare
companies in the west. For-profit healthcare companies were still a novelty in
India and the company’s business model was not fully appreciated.
& Infrastructure Ltd
One of the Largest Real Estate
Developers in India
Properties is among India’s largest real estate development companies. Their
offerings cover a broad range including residential and commercial
developments, educational institutions and Hotels. They also offer facility
management and engineering design services. There are only a handful of scale
players in the Indian real estate sector and Ansal is one of the leading groups
in North India.
the time of VLS’ investment Ansal’s enterprise value represented a severe
undervaluation with respect to the company’s intrinsic value. VLS’ believed
that the company’s real estate asset portfolio and the development business
were worth a multiple of the enterprise value of the company. VLS acquired a
stake in the company through open market purchases of listed stock. It also
built a strong corporate finance relationship with the company and supported it
on multiple projects
of the largest tyre manufacturers in India
On the road since
1958, CEAT has run up to be one of the best tyre manufacturers in the business.
Ceat not only make trailblazing tyres, but also market tubes and flaps. Ceat
are young and revving to go; with a maturity that comes with years of market
presence. More than 3500 Cr annual turnover, an impressive list of clients and
OEMs, various awards and certificates are statistics that could speak for the
The Company believe
that tyres are not just accessories; they are the force that moves users’
aspirations. With a choice of a wide range of tyres that suit users’ needs and
vehicle type. Strength is one of the most important attributes of their products,
which complements ceat solid foundation as a part of RPG Enterprises. Ceat
produce over 6 millian tyres every year.
TELEVISION EIGHTEEN LTD
LEADING business Television Network in India
Television Eighteen (TV18) is a business and
consumer news broadcaster and a leading media content provider in India.
Besides that, it has, over the last decade, provided prime time television
content to almost all leading satellite channels in India including BBC, Star
Plus, Sony Entertainment Television, Zee, MTV and Discovery. TV18 went public
with listings on the Indian bourses in 1999. It is among the fastest growing
media companies in India with a CAGR of almost 100% since its inception in
1993. CNBC TV18 is India's leading business news channel. The channel is a
joint venture between CNBC Asia-Pacific and Television Eighteen India Ltd.,
with TV18 holding 90 percent of the stake.
VLS bought a stake in TV 18 through a
private transaction at a time when the company was on the anvil of transforming
itself. TV18 was moving beyond mere content creation to become a broadcaster.
The company had demonstrated its credentials in business related content
through customized content creation for leading global broadcasters. It
initially partnered with Asia Business News to form ABN India. It subsequently
formed a JV with CNBC to form CNBC India
Pharmaceuticals and Chemicals Ltd.
Largest CRAMS Company in India
Global Partnership Solutions
the global outsourcing partner for the pharmaceutical industry offering a
portfolio of development, scale-up and manufacturing services.
and services offered span customers’ needs from chemical development to
commercial manufacture and supply of active pharmaceutical ingredients. Dishman
provides a wide range of products to the global market, including an extensive
range of reagents, specialty chemicals, APIs and their intermediates.
Custom Services, comprising both the CARBOGEN AMCIS and Dishman CRAMS
businesses, offer the pharmaceutical industry a global partnership solution to
all of their intermediate and active pharmaceutical ingredient requirements.
They operate seamlessly across the entire lifecycle of a product, having an
ability to manage projects from preclinical through to commercial scale
domain of highly potent API development and manufacture Dishman have expertise
and capabilities that are unmatched in the CRAMS sector.
a relationship driven business model that improves its customers businesses by
providing a range of solutions at locations in Europe, China and India.
Housing Finance Corporation Limited
second largest private housing finance company
DHFL, India’s second largest private housing
DHFL was established in 1984 with the aim to
enable access to affordable housing finance to the lower and middle income
groups in semi-urban and rural parts of India. DHFL is the second housing finance
Company to be established in the country, however, with a unique mission, which
is today benchmarked as a model of financial inclusion in the Indian financial
While most experts lauded the Company’s
altruism, they posed pragmatic apprehensions on the possibility of this Vision
becoming a reality. However, that did not influence the Company’s mission. DHFL
disbursed funds from its own equity contribution and had a return of less than
8% at a time when interest rates were about 18%. But, what DHFL ascertained was
the difference between those who see things as they are and the visionaries who
see things as they can be.
Over 29 years have passed since the
Company’s inception and today DHFL stands strong as one of India’s largest
housing finance companies (and the second largest in the private sector). It is
profitably doing what its Founder intended it to do.
The Company has encouraged hundreds of
thousands of people to make that upward journey by simplifying financial access
and providing them with the privilege of home loan products, insurance services
and unique fixed deposit schemes tailor made to suit their needs.
Based in India’s commercial capital Mumbai,
DHFL strives continually to reach out to its customers through its extensive network
of over 165 Branches, 75 Service Centers, 31 Camps and 8 Regional Processing
Offices spread across the length and breadth of the country.
the Largest Mouth Freshener
Manufacturer in India - "Pan Parag"
Products is a leading FMCG company in India. Its principal product is a highly
popular mouth-freshner made to suit ethnic tastes. KPL’s brand Pan Parag is a
category leader and has become synonymous with the product category itself. The
brand is a household name, is highly habit forming and has one of the strongest
distribution networks in the country.
KPL had extremely strong cash flows and the
enterprise value did not truly factor in the company’s brand value and cash
flow based value. VLS acquired a stake in the company through open market
purchases of the company’s stock. VLS was also involved in the company’s IPO
and built a strong corporate finance relationship with the company
SUNAIR HOTELS LTD
International Hotel with State of the art Technology
provided private equity capital to Sunair Hotels Ltd. to set up the first
high-end hotel in India. Sunair set up the Metropolitan in the year 1999-2000
in collaboration with Nikko International Hotels of Japan. Metropolitan is a
five star deluxe hotel in New Delhi located near the city’s central business
district. VLS supported the venture in multiple ways.
investment thesis was based on the acute shortage of high-end hospitality space
in India especially in New Delhi. India’s hotel industry has grown
significantly in the last 10 years, with both inventories of rooms, occupancy
rates and ARR’s (average room rentals) on an upswing due to the widening gap
between demand and supply of rooms in the major cities in India.
1995 VLS invested in 7,000,000 Equity shares of Sunair Hotels Ltd. Subsequently,
in the year 2001, VLS subscribed to 2,594,824 Equity shares by way of Rights.
As on date VLS holds 9,594,824 Equity shares of the company which is about
24.15% of the total paid-up capital of Rs. 397.50 million.
The Metropolitan Hotel & SPA offers guests a unique blend of Indian and
Asian hospitality. Designed for the international business and upscale leisure
traveler, the hotel is distinguished by understated elegance. A five-star
deluxe international class luxury hotel combining hospitality and warmth with
Presently, The Metropolitan Hotel & SPA
a fine blend of style & substance, is a member ofGreat Hotels of the World,
Luxury Collection, an international hotel marketing brand. Looking at the
location of the Hotel in Lutyen’s Delhi, close to the main business district,
the present true intrinsic value of the Hotel Company may be much more so as to
make the investment of VLS a very profitable one.
NUCLEUS SOFTWARE EXPORTS
the leading Financial & Banking IT
provides software solutions to the Banking and Financial Services Industry.
They have developed solutions spanning from Retail Banking to Corporate
Banking, Cash Management, Trade Finance, Internet Banking and Credit Cards.
FinnOne™, the Flagship product of Nucleus is a comprehensive suite for Retail
Banking applications comprising of modules like Customer Acquisition System,
Loan Management, Delinquency and Recovery Management, Deposits and Finance
invested in Nucleus when India’s IT and software industry was poised for a take
off. Subsequently Indian IT exports have grown at a CAGR of 46% in 1999-2005
and are estimated to exceed USD 60 billion by 2010. Many Indian IT companies
have emerged as global leaders in quality in the software services arena.
Nucleus stands out as a product company and is one of the fastest growing
companies in this sector. Nucleus featured in Deloitte Technology’s ranking of
the Fast 500 companies in Asia Pacific for the third consecutive year in 2004.
VLS helped take the company public through an IPO.
RELAXO FOOTWEAR LTD
the Largest Footwear Manufacturer in
is a manufacturer of rubber and light weight slippers and sports, casual and
leather shoes. It is the second largest producer of footwear in India and the
largest manufacturer of light weight Hawaii slippers. Light weight Hawaii
slippers are the most widely used form of manufactured footwear amongst
consumers in the middle and bottom of the consumption pyramid. The investment
thesis was based on the growth in demand for low cost manufactured footwear
from bottom and middle of the pyramid customers who were developing
affordability for modern footwear. Relaxo is a household brand in India and is
synonymous with Hawaii slippers. VLS also helped take the company public through
Life Sciences Limited
research & life science company
Suven Life Sciences, in the business
of design, manufacture and supply of Bulk Actives, Drug Intermediates &
Fine Chemicals, catering to the needs of global Life Science Industry, is
committed to provide customers with products fulfilling customer's needs and
Suven provides world-class R&D
solutions for Global Life Science companies with quality, speed and in a cost
effective manner In search of new CNS therapies for better living,
Suven established presence across Contract Research And Manufacturing Services
(CRAMS) for NCE based intermediates. Seven has world class infrastructure,
equipment and models with over 800 employees.
With over 75% of revenues from US and
Europe, Seven has emerged as a full-fledged bio-pharmaceutical solutions
provider for gobal pharmaceutical companies.
TRANSPORT CORPORATION OF INDIA
India's leading Multimodal Integrated Supply Chain
Transport Corporation of India is
India's leading integrated supply chain and logistics solutions provider and a
pioneer in the sphere of cargo transportation in India. Leveraging on its
extensive infrastructure, strong foundation and skilled manpower, TCI offers
seamless multimodal transportation solutions. An ISO 9001:2008 certified
company, TCIL is listed with premier stock exchanges like NSE and BSE.
The company progressed from being a
"One Man, One Truck, One Office" set up to becoming India's leading
Logistics & Supply Chain Solutions provider with a Global presence. After
50 years, TCI moves 2.5% of India's GDP by value and is the proclaimed market
leader of the Indian Logistics Industry.
TCI Group has an extensive
network of over 1000+ company owned offices, a huge fleet of customized vehicles
and managed warehouse space of 9.75 million sq. ft. and a strong work force of
5000+. With its customer-centric approach, world class resources, State-of-Art
technology and professional management, the group follows strong corporate
governance principles and is committed to value creation for its stake holders
and its social responsibilities.
India's pioneer in Express Distribution and Supply Chain
Pioneering Express Distribution
services in India, since 1989, Gati has transformed the logistic industry in
India with many a path breaking revolutionary initiatives that paved the way to
an organized logistic industry. With an annual turnover of Rs 12895 Million,
Gati today offers an integrated Express Distribution and customized Supply
Chain Solutions to customers across diverse industry verticals.
Gati's advantage of seamless
connectivity across air, road, ocean and rail has resulted in a plethora of
offerings to the customers, unmatched in the industry. Gati operates a fleet of
4000 vehicles on road, 2 marine vessels and over 7000 plus business partners
A market leader in India, Gati has a
strong market presence in the Asia Pacific region and SAARC countries. Today,
Gati has offices in China, Singapore, Hong Kong, Thailand, Nepal and has plans
to foray into other markets.