Drawdown: A Private Equity Competition

IIM Bangalore's International Business Summit, Vista 2021, in association with PE-VC Society, presents Drawdown!

Your chance to grab the deal by showcasing business acumen and financial skills. If you can combine the two, returns should flow!

The task is simple – Assume the role of a private equity analyst (buy side analyst). Select a company out of the given list and draw an investment thesis from the perspective of a potential private equity investment opportunity. Your analysis should include both industry and company analysis and provide a compelling investment rationale.

Please choose one of these six companies for your Round 1 analysis from the perspective of a potential private equity investment opportunity. Other details remain unchanged as mentioned below.

• Nazara Technologies Ltd. - Tech
• NIIT Ltd. - Tech
• Narayana Hryudalaya Ltd. – Healthcare
• Krishna Institute of Medical Sciences Ltd. - Healthcare
• Mrs. Bectors Food Specialities Ltd. - Consumer food
• Barbeque Nation Hospitality Ltd. - Consumer food

Rounds:

Important: Each team must pick only one of the six firms mentioned above for the pitch (the same company needs to be picked for Round 1 and Round 2).

Round 1: Industry Overview

• Teams need to submit the industry analysis of one of the six chosen firms.
• It should focus on past and present industry dynamics, competitive environment of industry, merits and demerits of investing in the industry. Quantitative analysis is not necessary for Round 1.
• Round 1 submission is a maximum 2 page PDF document including appendix but excluding cover page on Dare2Compete.

Round 2: Investment Proposal

• Teams need to submit their investment proposal of the same firm they chose in Round 1 and present it to a panel of judges live during Vista 2021 online (Further details on this will be shared with shortlisted companies).
• Round 2 presentation (a PPT deck of max 10 slides) will be more detailed and build on the Round 1 analysis. It should include proposed private equity transaction details (investment overview, financial projections, assumptions, returns on investment, IRR, any other), potential growth opportunities (top line, bottom line) over a time horizon of ~ 5 years, and exit opportunities.
• Round 2 submission is a maximum of 10 slides PPT presentation excluding cover page & table of contents and including an appendix on Dare2Compete.

 Rules:

• Each team can comprise of a minimum of 3, and a maximum of 5 participants
• An institute can have any number of teams participating. However, if a team member is found participating as a part of more than one team, all such teams shall be disqualified
• The decisions of the organizers will be final and binding on all participants
• Round 1 submission (maximum 2 page document) to focus on past and present industry dynamics, competitive positioning of industry, merits, and demerits of investment, and investment structure
• Round 2 presentation (a PPT deck of max 10 slides) to include round 1 analysis, and transaction details (investment overview, financial projections, assumptions, returns on investment, any other)
• Decisions taken by the panel of judges will be final and binding

 Suggestions/ References:

1. Please carefully annotate all references and sources in the presentation. Although not mandatory, a working excel model for the analysis may come in handy during Q&A with the judges.
2. Below are some information sources (the list is again directional and not exhaustive) that the teams can leverage for the analysis:
   • Industry Databases -
     • Capital IQ
     • Bloomberg
     • Passport Euromonitor
     • Factiva
     • Thomson - SDC - Mergers & Acquisitions
     • Venture Intelligence (Private Equity Deal Database, Capita M&A)
   • Industry Research -
     • Moneycontrol
     • Economic Times
     • Gartner
     • Frost & Sullivan
     • CMIE
     • Crisil Research
     • ICRA Industry Reports
   • Equity Research Reports (e.g. - ICICI Securities, HDFC, Motilal Oswal, etc.)

Note: The participants must carefully read through and agree to the following:

• Terms & Conditions: All decisions in matters of eligibility, authenticity, and final judgments will be with the organizing committee of Vista, Indian Institute of Management Bangalore. The format and structure of events on campus could be subject to change before the actual beginning of the event.
• The decisions of the organizers will be final and binding on all participants.