BT-Ernst and Young Deal Watch

PE firms Bain Capital and TPG Capital acquired an undisclosed stake in Lilliput Kidswear—manufacturer, retailer and exporter of children's apparel—for close to Rs 385 crore. Lilliput will utilise the capital to fund its expansion plans. Currently, Lilliput operates around 235 exclusive brand outlets in India and 30 overseas.

TARGET	Acquirer/Industry	TYPE	DEAL VALUE (Rs crore)	STAKE (%)
Avnija Properties	KKR & Co LP/Cement and building products	Private Equity	750.0	21
National Stock Exchange of India	Temasek Holdings/Capital markets	Private Equity	670.9	5
Tech Mahindra	Unnamed Buyer/Technology	Investment	652.8	7
Spheris India	CBAY Inc. and MedQuist Inc/Technology	Acquisition	517.0	100
Lilliput Kidswear	Bain Capital and TPG Capital/Retail and consumer products	Private Equity	385.0	NA
Road and highway projects to be developed by TRIL Roads	Actis LLP/Infrastructure	Private Equity	344.7	NA
Aziz Pipe	Welspun-Gujarat Stahl/Metals and mining	Acquisition	258.8	100
Flyjac Logistics	Hitachi Transport System/Logistics	Acquisition	250.0	100
Convexity Solutions	CX Partners/Financial services	Private Equity	210.0	NA
EIH Holdings	EIH/Real estate, hospitality and construction	Acquisition	202.2	46
Famy Care	AIF Capital/Healthcare	Private Equity	175.0	NA
Pathways World School	Reliance Equity Advisors (India)/Education	Private Equity	100.0	NA
Ernst & Young is a leading M&A advisor in India. The data is based on media reports and company announcements. Any decision on the basis of this information should be taken only after professional advice. Business Today or E&Y do not undertake any responsibility with regard to any such decision. * As on May 10, 2010. This list is not a complete list.