Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: articles on VAT and GST in India :: VAT Audit :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARDS :: due date for vat payment :: VAT RATES :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: TDS :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
« Mergers and Acquisitions »
 Global Microdissection Market - Mergers and Acquisitions Becomes a Key Strategy
 How India's Bankruptcy Law Redo May Spur M&A Heyday
 Top 3 Procurement Mergers and Acquisitions of 2017 (and 2018, So Far)
 What is in store for mergers and acquisitions?
 Mergers and acquisitions a key factor in increasing the number of B.C. employees at top security firms
 Merger & Acquisition deals up 10 pct in 2017, but value declines
 OMA Emirates scouting for acquisitions in India’s fintech space
 India to see healthy M&A activity, says EY
 Digital payments gateway PayU eyes acquisitions to enter lending segment
 Top 5 mergers and acquisitions of 2017 in India
 Deals of the day-Mergers and acquisitions Jan 16, 2018

ICICI Bank to oversee mergers & acquisitions
July, 01st 2009

ICICI bank and its merchant banking arm, ICICI Securities (I-Sec), have entered into an agreement, whereby all M&A deals will be done out of ICICI Bank. The agreement goes on to define an M&A deal as one which involves change in management control.

This arrangement replaces the earlier practice of both I-Sec and ICICI Bank working together on M&A deals. Since a predominant number of people, who wish to be advised on M&A, also look for acquisition finance, it was decided that the business should be housed in the bank, I-Sec MD Madhabi Puri Buch told ET. Now, if a corporate is seeking a sell mandate or a buy mandate, where the transfer of controlling interest takes place, the deal will be done by ICICI Bank.

ICICI Bank had initially entered the investment banking space in 2006. Over the past couple of years, both the bank and its subsidiary have been vying for deals. The new deal has taken into effect between both the entities from April 1.

According to Ms Buch, acquisition funding has become one of the primary drivers of bagging M&A deals. How many investment banks can put their hand on their hearts and claim that they have done only pure advisory and are not linked to acquisition finance? All have provided some kind of funding, she said.

Many of the foreign banks have been using acquisition financing as a tool to enter the advisory space. I-Sec has decided to get out of most fund-based activities. I-Secs proprietary book is largely a result of arbitrage positions and not because of any view on markets. According to Ms Buch, one of the biggest learnings from the global financial crisis is that there should be a limit on leverage both on and off the balance sheet.

Earlier, the primary dealership business accounted for one of the biggest proprietary positions built by I-Sec. Now, with the PD business being farmed out into a separate subsidiary of ICICI Bank, most of I-Secs revenues are fee-based (brokerage). According to Ms Buch, each activity is housed in the institution, according to where the skill sets are. This is why private equity is with ICICI Ventures and funding is with the bank she added.

While the focus on fee-based income has left the banks earnings linked to the market, Ms Buch said I-sec is looking at entering new areas of business that are counter-cyclical.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Team

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions