Banaglore-based NSL Sugars Limited has acquired 100% stake in Jay Mahesh Sugar Industries Limited (JMSIL), a wholly owned subsidiary of Spray Engineering Devices Limited, for around Rs.231.2 Cr.

JMSIL is engaged in manufacturing and exporting sugar and various derivatives of other sugar products including sugar candy, sugar syrup and pharmaceutical sugar products.

Anand Rathi Advisors was the exclusive advisors to SEDL for thsi transaction.

Transaction Reference: Press Release

JMSIL is engaged in manufacturing and exporting sugar and various derivatives of other sugar products including sugar candy, sugar syrup and pharmaceutical sugar products.

Its plant located at Majalgaon in the Beed district of Maharashtra has a crushing capacity of 5,000 TCD and a Co-Gen project of 30 MW along with distillery plant of 100 KLPD is expected to be commissioned shortly.

NSL Sugars Limited was established as an associate company of NSL Group in the year 2003-04. NSL Group is a conglomerate engaged in agricultural seeds, textiles, sugar, power, and real estate and infrastructure businesses.

It has integrated sugar complexes producing co-generated power, ethanol and organic manure products.

Spray Engineering, a flagship company of Mohali-based SED Group, focuses on (re)designing and engineering of processes & equipments. It offers integrated, cost-effective EPC solutions for Sugar and other process industries. New Vernon Private Equity limited and Klondike Investments Limited joined SEDL as financial partners in 2006.

Anand Rathi Advisors, a part of Anand Rathi Group, is a leading investment bank focused on the middle-market in India. Anand Rathi Group has a pan India presence with over 300 offices (employing over 3500 professionals) as well as an international presence through offices in New York, Dubai, Hong Kong, Bangkok and Singapore.

Last August, Coromandel Sugars picked up an additional 4.9% stake in Ponni Sugars Erode in an off-market deal increasing its stake to 6.74% from 1.84%.

Previous Article

Asia Pacific Capital Invests $15 Mn In Birla Surya

Next Article

PE Backed Augere To Sell 4G Spectrum, Quit India Operations

KVEZAR VIEW

  DEAL TRACKER FOR

Date	Transaction	Type	Buyer	Size ($mn)
06/07/11	Spray Engineering - Jay Mahesh Sugar - NSL Sugars	M&A	NSL Sugars Limited	52.07

 

  Recent Transactions In The Sector

Date	Type	Buyer	Target	Size ($mn)	State
21/05/12	M&A	Vilmorin & Cie	Bisco Bio Sciences Private Limited	-	Completed
14/05/12	Venture Capital	Acumen Fund Advisory Services India Private Limited	BASIX Krishi Samruddhi Limited	2.00	Completed
30/04/12	M&A	Roquettee Freres	Riddhi Siddhi Corn Processing Private Limited	180.92	Completed
23/04/12	M&A	Rossell India Limited (Formerly Rossell Tea Ltd)	Namsang Tea Estate	5.44	Completed

 

  Profiles

Company
Name	Promoters	Office	Competitor	Website
Spray Engineering Devices Limited	Prateek Verma Vivek Verma Sanjay Gupta	Plot No-25, Industrial Area, Phase 2.		www.sedl.in
Jay Mahesh Sugar Industries Limited	NSL Sugars Limited	Village Pawarwadi, Taluka Majalgaon, Dist. Beed,		www.sedl.in
NSL Sugars Limited	Prabhakar Rao	No.60/1, 2nd Cross, Residency Road,		www.nslsugars.com

  Advisor

Anand Rathi Advisors Limited