• Metropolis Healthcare completes acquisition of chain of labs in South India

Metropolis Healthcare Ltd has completed the acquisition of Dr. Ganesan’s Hitech Diagnostic Centre Pvt. Ltd. (Hitech) along with its subsidiary Centralab Healthcare Services Private Limited. Both share similar business ethos as Metropolis with focus on quality, accuracy, and highest level of customer service. This acquisition will enable Metropolis to gain market share as being focused on the premium end of the market, strengthen its leadership position in South Indian market as 2nd largest Diagnostics Company in India.

Read more at: http://surl.li/anplc

AAA Valuation Comments: The Metropolis Healthcare Ltd has acquired the diagnostic Labs chain for Rs. 636 crores consisting cash consideration. Hitech Diagnostic Centre has a network of 31 Labs including 3 NAVL and ICMR accredited and 68 collection centers in South India. This will increase the B2C share of the business with 65% revenue contribution from Hitech share. It’s a well-known diagnostics chain built over the last 35 years with widespread presence in south India and it is the second largest player in Chennai. The combined value will increase through cost synergies of both entity, estimated to hold around 30% of the market share in Chennai and become leaders in some tier-2 towns of South India.

• Healthtech platform Cloudphysician raises $4 million from Elevar Equity

Healthtech platform Cloudphysician, which focuses on providing affordable and quality critical care, has raised $4 million from Elevar Equity as part of its pre-Series A funding round.
The company will use the funds to expand its global footprint and invest in strengthening its teams across verticals such as commercial, medical, technology and data science, it said in a statement.

Read more at: http://surl.li/anfuy

AAA Valuation Comments: Cloudphysician founded in 2017, uses its proprietary technology platform, RADAR digitizes and analyses patient data and provides clinical decision support to super specialist doctors at the command center, ensure evidence based care of ICU patients. The Indian arm of Cloudphysician manages ICUs in over 40 hospitals in 15 states and has treated more than 30,000 critically ill patients and 5,000 COVID-19 cases since 2017. Cloudphysician has already unlocked up to 50% increase in revenue and 40% decline in mortality rate for client hospitals.

• Groww raises fresh funds as valuation triples in six months to $3 billion

Online investment platform Groww has raised $251 million in a new round of funding, tripling its valuation in barely six months to $3 billion, or about Rs 22,500 crore. The Bengaluru-based company had joined the unicorn club of privately held companies valued at $1 billion or more in April this year.

Read more at: http://surl.li/anfvu

AAA Valuation Comments: Groww founded in 2016, is an India-based Y Combinator backed online investment platform. Groww allows users to invest in mutual funds, stocks (including Futures and Options), digital gold and fixed deposits. Recently, the company has also launched a service for users to be able to invest in US stocks. Its total user base is over 20 million out of which around 70% come from tier-2 and 3 cities and monthly active users hover between 8-9 million. The company recorded a healthy surge in earnings which jumped 4.7X to a little over Rs 1 crore in FY20 from only Rs 20.14 lakhs in FY19 and tripled its valuation which is nearly $3 billion after this funding.

• 4. EaseMyTrip to buy travel marketplace Traviate in first ever acquisition

EaseMyTrip is set to make its first acquisition in Traviate, a business-to-business travel marketplace, even as the sector revives from a pandemic-induced shutdown. The board of directors of the listed company has considered and approved its plan to enter into a non-binding agreement offer with Traviate Online Pvt. Ltd. for acquisition, according to a filing on Thursday. The deal will add a new revenue stream, “fast-track” EaseMyTrip’s expansion into the B2B hotel and holiday space and result in higher cost efficiency.

             Read more at: https://cutt.ly/JRXi36O

AAA Valuation Comments: Founded in 2016, Traviate is India’s first B2B travel marketplace. It lists more than 1.2 million hotels and has enabled over two lakh transactions. Seventy percent of the company’s hotel inventory is sold by the B2B channel, which includes travel agents, hotels, tour operators, destination management companies, and other players in the travel ecosystem to connect and transact among each other. There is a synergy between the two companies it leverages “cutting-edge” technology to build a lean and efficient infrastructure. This will provide Easy Trip Planners access to exploring new opportunities in the Travel sector and to achieve the targets and promoting the same industry. 

• Chalo acquires office bus service Shuttl

Chalo, an app that helps track buses and get digital bus tickets across Indian cities, has acquired Shuttl, a premium bus service for officegoers backed by Amazon, for an undisclosed sum in an all-cash deal. The deal offers Chalo an opportunity to enter the premium bus service segment and expand overseas.

Read more at: http://surl.li/angau

AAA Valuation Comments: Bus technology platform Chalo has acquired Shuttl in an all-cash deal, amount is undisclosed. The combined companies will carry out more than 25 million rides a month and provide synergies for international expansion as well. Shuttl service will continue to use the brand name ‘Shuttl’, and all of its current team will continue under their current roles. Shuttl provide services across more than 50 routes with about 2,000 buses, averaging around 1,00,000 rides perday. It is already having an edge with international presence in Bangkok and it will help to achieve the aim for international expansion. The company’s revenue grew 48% from INR 101 Cr in FY2019 to INR 149 Cr in FY2020.

• CredAble bags $30 million in Series B funding

 CredAble, a fintech startup focused on supply chain financing, has raised $30 million in its Series B funding round co-led by Plutus Management LLP and existing investor Oaks Asset Management. The funding comes amid growing investor interest in fintech companies, with the sector attracting the most capital in the year to date. The company doesn’t lend from its own balance sheet but helps non-bank and banks with customer acquisition and origination.

Read more at: https://cutt.ly/MRXowQA

AAA Valuation Comments: CredAble combines technology, financing, deep learning, and analytics to create innovative supply chain financing products offers receivable exchange dynamically to vendors or corporate. The company has put only 2% of the overall loan books out of its own balance sheet. Current revenue run rate for FY22 is Rs 25 crore and expect it to be around Rs 100 crore by the end of FY23. CredAble disbursed Rs 3,500 crore to more than one lakh small businesses, and expects to disburse Rs. 5,000 crore amounts in the coming months. It has enabled over $2 billion annually in working capital for large, mid, emerging corporates, MSMEs, and financial institutions. Its platform hosts over 50 corporate customers, over 1 lakh borrowers, and over 25 large financial institutions and banks.

AAAVP Monthly Highlights

Knowledge sharing Sessions by Partner:

1. AIA VALUEXPERT organized a Webinar on ‘Valuation Report & Compliances with IVS’ on 16^th October, 2021, wherein our Partner CA. Ankit Goel featured as the Speaker to address the Session.
2. INVENTICON, organized a Webinar on ‘Intangible’s Valuation, Benchmarking and Arm’s Length Pricing (ALP)’ on 22^nd October, 2021, wherein we are registered as Silver Partner and our Partner CA. Ankit Goel featured as the Speaker to address the Session.
3. IOV RVF organized a Webinar on ‘Valuation of E-Commerce Companies’ on 31^st October, 2021, wherein our Partner CA. Ankit Goel featured as the Speaker to address the Session.

Valuation Assignment Received 

1. Secured assignment for valuation of assets of company engaged in the Construction Business.
2. Secured assignment for Equity share valuation of company engaged in providing Internet of Things (IOT) ecosystem and smart city solutions.
3. Secured assignment for valuation of assets of company engaged in the Real-estate and Renting Business with book value of assets worth more than Rs. 22 lakh.
4. Secured assignment for Equity share valuation of company engaged in Agriculture, Hunting & related activities.

Valuation Assignment Completed

1. Equity share valuation of company engaged in the Agriculture, Hunting & related activities.
2. Equity share valuation of company engaged in providing Internet of Things (IOT) ecosystem and smart city solutions.
3. Equity share valuation of company engaged in the Legal, accounting, book-keeping and auditing activities under FEMA Compliances.
4. Brand valuation of company engaged in the manufacturing of two wheelers & three wheelers.

Interesting Trivia

1. IPL introduced two new team franchise, RPSG Group picked Lucknow as their home base with a winning bid of Rs 7090 crores while CVC Capital Partners have opted for Ahmedabad with a bid of Rs 5625 crores. CSK Valuation pushed up to over Rs.7,200 crore.

• The vast majority of the planet’s currency exists in electronic form – banknotes and coins make up just 8% of the global total.

• China is the leader in filing of patents for the 6G technology.

• Wal-Mart averages a profit of $1.8 million every hour.