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23 March 2007
Evolvence India Holdings Plc
Fairfax I.S. PLC acted as lead financial adviser and broker to the $65m placing and AIM IPO of Evolvence India Holdings Plc
Evolvence India Holdings Plc (EIH) is an Isle of Man based private equity fund of funds holding company which principally targets investments in the Indian subcontinent. EIH is part of the Dubai based Evolvence Capital group of companies. The public listing of EIH will give investors access to a diversified Indian private equity portfolio while mitigating issues usually associated with private equity investments, such as a lack of liquidity and relatively large minimum investment size.
EIH intends to invest funds raised through its flotation within 90 days of Admission. It is proposed that funds raised (net of all applicable fees and expenses) will be invested in the following approximate proportions:
• 70 per cent. of the Investible Funds to the Evolvence India Fund;
• 10 per cent. of the Investible Funds to the Evolvence India Life Science Fund; and
• 20 per cent. of the Investible Funds to Direct Investments.
The Directors intend to use the following principal investment criteria in making their investment choices: (i) a primary focus on India; (ii) a proven track record of achieving investment returns; (iii) a stable fund management team (teams that have been established for at least three years); (iv) a deal pipeline; and (v) a willingness to share co-investment opportunities.
Evolvence India Fund
EIF currently has already committed or invested funds in 54 companies held through six underlying private equity funds in which EIF has invested directly or indirectly, as well as making co-investments in four of these companies on a co-investment basis. The EIF investment portfolio provides exposure to 38 unlisted companies and 16 publicly listed companies covering a number of industry sectors.
Evolvence India Life Sciences Fund
EILSF is being created to make private equity investments in life sciences businesses that are based in India, as India’s share in the global pharmaceutical industry is growing at 10 per cent. per annum, which is faster than the underlying industry growth of 7 per cent.
Exchange: AIM
Listing Date: 23 March 2007
Funds Raised: US $65m
Nominated Adviser: Seymour Pierce Limited
Nominated Broker: Fairfax I.S. PLC
Evolvence India Holdings Plc (EIH) is an Isle of Man based private equity fund of funds holding company which principally targets investments in the Indian subcontinent. EIH is part of the Dubai based Evolvence Capital group of companies. The public listing of EIH will give investors access to a diversified Indian private equity portfolio while mitigating issues usually associated with private equity investments, such as a lack of liquidity and relatively large minimum investment size.
EIH intends to invest funds raised through its flotation within 90 days of Admission. It is proposed that funds raised (net of all applicable fees and expenses) will be invested in the following approximate proportions:
• 70 per cent. of the Investible Funds to the Evolvence India Fund;
• 10 per cent. of the Investible Funds to the Evolvence India Life Science Fund; and
• 20 per cent. of the Investible Funds to Direct Investments.
The Directors intend to use the following principal investment criteria in making their investment choices: (i) a primary focus on India; (ii) a proven track record of achieving investment returns; (iii) a stable fund management team (teams that have been established for at least three years); (iv) a deal pipeline; and (v) a willingness to share co-investment opportunities.
Evolvence India Fund
EIF currently has already committed or invested funds in 54 companies held through six underlying private equity funds in which EIF has invested directly or indirectly, as well as making co-investments in four of these companies on a co-investment basis. The EIF investment portfolio provides exposure to 38 unlisted companies and 16 publicly listed companies covering a number of industry sectors.
Evolvence India Life Sciences Fund
EILSF is being created to make private equity investments in life sciences businesses that are based in India, as India’s share in the global pharmaceutical industry is growing at 10 per cent. per annum, which is faster than the underlying industry growth of 7 per cent.
Exchange: AIM
Listing Date: 23 March 2007
Funds Raised: US $65m
Nominated Adviser: Seymour Pierce Limited
Nominated Broker: Fairfax I.S. PLC