Appendix A Respondent Companies in Survey - Springer978-981-10-2203-6/1.pdf · Appendix A...
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Appendix A Respondent Companies in Survey Sr. No. Company name 1 20 Microns Ltd. 2 3I Infotech Ltd. 3 A B B Ltd. 4 A C C Ltd. 5 Aban Offshore Ltd. 6 Abbott India Ltd. 7 Accentia Technologies Ltd. 8 Aditya Birla Nuvo Ltd. 9 Aftek Ltd. 10 Alchemist Ltd. 11 Alembic Ltd. 12 Allsec Technologies Ltd. 13 Alok Industries Ltd. 14 Anant Raj Industries Ltd. 15 Ansal Properties & Infrastructure Ltd. 16 Apollo Tyres Ltd. 17 Asahi India Glass Ltd. 18 Ashok Leyland Ltd. 19 Asian Paints Ltd. 20 Associated Alcohols 21 Aurionpro Solutions Ltd. 22 Aurobindo Pharma Ltd. 23 Axis-I T & T Ltd. 24 Bajaj Electricals Ltd. 25 Bajaj Hindusthan Ltd. 26 Ballarpur Industries Ltd. 27 Balrampur Chini Mills Ltd. 28 Batliboi Ltd. (continued) © Springer Science+Business Media Singapore 2016 N. Rani et al., Mergers and Acquisitions, India Studies in Business and Economics, DOI 10.1007/978-981-10-2203-6 191
Transcript of Appendix A Respondent Companies in Survey - Springer978-981-10-2203-6/1.pdf · Appendix A...
Appendix ARespondent Companies in Survey
Sr. No. Company name
1 20 Microns Ltd.
2 3I Infotech Ltd.
3 A B B Ltd.
4 A C C Ltd.
5 Aban Offshore Ltd.
6 Abbott India Ltd.
7 Accentia Technologies Ltd.
8 Aditya Birla Nuvo Ltd.
9 Aftek Ltd.
10 Alchemist Ltd.
11 Alembic Ltd.
12 Allsec Technologies Ltd.
13 Alok Industries Ltd.
14 Anant Raj Industries Ltd.
15 Ansal Properties & Infrastructure Ltd.
16 Apollo Tyres Ltd.
17 Asahi India Glass Ltd.
18 Ashok Leyland Ltd.
19 Asian Paints Ltd.
20 Associated Alcohols
21 Aurionpro Solutions Ltd.
22 Aurobindo Pharma Ltd.
23 Axis-I T & T Ltd.
24 Bajaj Electricals Ltd.
25 Bajaj Hindusthan Ltd.
26 Ballarpur Industries Ltd.
27 Balrampur Chini Mills Ltd.
28 Batliboi Ltd.(continued)
© Springer Science+Business Media Singapore 2016N. Rani et al., Mergers and Acquisitions, India Studiesin Business and Economics, DOI 10.1007/978-981-10-2203-6
191
(continued)
Sr. No. Company name
29 Bayer Cropscience Ltd.
30 Bharat Forge Ltd.
31 Bharat Heavy Electricals Ltd.
32 Bharti Airtel Ltd.
33 Bhuwalka Steel Industries Ltd.
34 Bilcare Ltd.
35 Biocon Ltd.
36 Bliss Gvs Pharma Ltd.
37 Bombay Rayon Fashions Ltd.
38 Brigade Enterprises Ltd.
39 Cable Corpn. Of India Ltd.
40 Cadila Healthcare Ltd.
41 California Software Co Ltd.
42 Ceat Ltd.
43 Chowgule Steamships Ltd.
44 Ciba India Ltd. [Merged]
45 Clariant Chemicals (India) Ltd.
46 Colgate-Palmolive (India) Ltd.
47 Control Print Ltd.
48 Core Education & Technologies Ltd.
49 Coromandel International Ltd.
50 Cranes Software Intl. Ltd.
51 Crisil Ltd.
52 Crompton Greaves Ltd.
53 Cyber Media (India) Ltd.
54 D C M Shriram Consolidated Ltd.
55 Dabur India Ltd.
56 Datamatics Global Services Ltd.
57 Deepak Fertilisers & Petrochemicals Corpn. Ltd.
58 Dolphin Offshore Enterprises (India) Ltd.
59 Dr. Reddy’S Laboratories Ltd.
60 E I D-Parry (India) Ltd.
61 EdServ Softsystems Ltd.
62 Educomp Solutions Ltd.
63 Elder Pharmaceuticals Ltd.
64 Escorts Ltd.
65 Essar Steel Ltd.
66 Essel Propack Ltd.
67 Exide Industries Ltd.
68 Firstsource Solutions Ltd.(continued)
192 Appendix A: Respondent Companies in Survey
(continued)
Sr. No. Company name
69 Forbes & Co. Ltd.
70 Fortis Healthcare Ltd.
71 Fulford (India) Ltd.
72 Future Retail Ltd.
73 G T L Ltd.
74 Gateway Distriparks Ltd.
75 Geometric Ltd.
76 Gitanjali Gems Ltd.
77 Glaxosmithkline Pharmaceuticals Ltd.
78 Glenmark Pharmaceuticals Ltd.
79 Glodyne Technoserve Ltd.
80 Godrej Consumer Products Ltd.
81 Grasim Industries Ltd.
82 Great Eastern Shipping Co. Ltd.
83 Greaves Cotton Ltd.
84 Greenply Industries Ltd.
85 GV Films Ltd.
86 H C L Technologies Ltd.
87 Havells India Ltd.
88 Hercules Hoists Ltd.
89 Hexaware Technologies Ltd.
90 Hindalco Industries Ltd.
91 Hinduja Ventures Ltd.
92 Hindustan Unilever Ltd.
93 Hitech Plast Ltd.
94 HOV Services Ltd
95 I T C Ltd.
96 Idream Film Infrastructure Co. Ltd.
97 Indian Hotels Co. Ltd.
98 Infosys Ltd.
99 J C T Ltd.
100 J S W Ispat Steel Ltd.
101 J S W Steel Ltd.
102 Jaiprakash Associates Ltd.
103 Jindal Drilling & Inds. Ltd.
104 Jindal Poly Films Ltd.
105 Jubilant Life Sciences Ltd.
106 Jyothy Laboratories Ltd.
107 K S B Pumps Ltd.
108 Kale Consultants Ltd.(continued)
Appendix A: Respondent Companies in Survey 193
(continued)
Sr. No. Company name
109 Kamat Hotels (India) Ltd.
110 Kohinoor Broadcasting Corpn. Ltd.
111 Larsen & Toubro Ltd.
112 Lupin Ltd.
113 Maharashtra Seamless Ltd.
114 Mahindra & Mahindra Ltd.
115 Mahindra Forgings Ltd.
116 Mahindra Ugine Steel Co. Ltd.
117 Manugraph India Ltd.
118 Marico Ltd.
119 Marksans Pharma Ltd.
120 Maruti Suzuki India Ltd.
121 Mastek Ltd.
122 Maxwell Industries Ltd.
123 Moser Baer India Ltd.
124 Motherson Sumi Systems Ltd.
125 N I I T Technologies Ltd.
126 Navneet Publications (India) Ltd.
127 Oil & Natural Gas Corpn. Ltd.
128 Omaxe Ltd.
129 Opto Circuits(India)Ltd.
130 Paramount Communications Ltd.
131 Patel Integrated Logistics Ltd.
132 Patni Computer Systems Ltd.
133 Pfizer Ltd.
134 Pidilite Industries Ltd.
135 Pioneer Embroideries Ltd.
136 Piramal Healthcare Ltd.
137 Plethico Pharmaceuticals Ltd.
138 Polaris Software Lab Ltd.
139 Premier Energy & Infrastructure Ltd.
140 Pricol Ltd.
141 Prime Focus Ltd.
142 Punj Lloyd Ltd.
143 Punjab Chemicals & Crop Protection Ltd.
144 R P G Cables Ltd.
145 R Systems International Ltd.
146 Rajesh Exports Ltd.
147 Rallis India Ltd.
148 Ranbaxy Laboratories Ltd.(continued)
194 Appendix A: Respondent Companies in Survey
(continued)
Sr. No. Company name
149 Reliance Communications Ltd.
150 Reliance Industries Ltd.
151 Rolta India Ltd.
152 Ruchi Soya Inds. Ltd.
153 Ruttonsha Intl Rectifier Ltd.
154 Saksoft Ltd.
155 Shilpa Medicare Ltd.
156 Shree Renuka Sugars Ltd.
157 Siel Ltd.
158 Siemens Ltd.
159 Silverline Technologies Ltd.
160 Spentex Industries Ltd.
161 SQL Star International Ltd.
162 Standard Industries Ltd.
163 Sterlite Industries (India) Ltd.
164 Sun Pharmaceutical Inds. Ltd.
165 Sundram Fasteners Ltd.
166 Supreme Industries Ltd.
167 Suzlon Energy Ltd.
168 Tata Chemicals Ltd.
169 Tata Communications Ltd.
170 Tata Consultancy Services Ltd.
171 Tata Global Beverage Ltd.
172 Tata Motors Ltd.
173 Tata Power Co. Ltd.
174 Tata Steel Ltd.
175 Technocraft Industries(India)
176 Thermax Ltd.
177 Thomas Cook (India) Ltd.
178 Tilaknagar Industries Ltd.
179 Tips Industries Ltd.
180 Tricom India Ltd.
181 Triton Corp Ltd.
182 United Phosphorus Ltd.
183 V I P Industries Ltd.
184 Videocon Industries Ltd.
185 Voltas Ltd.
186 Wanbury Ltd.
187 West Coast Paper Mills Ltd.
188 Wipro Ltd.
189 Wockhardt Ltd.
Appendix A: Respondent Companies in Survey 195
Appendix BSample Companies in Event Study(Cross-Border Complete Acquisitions)
© Springer Science+Business Media Singapore 2016N. Rani et al., Mergers and Acquisitions, India Studiesin Business and Economics, DOI 10.1007/978-981-10-2203-6
197
Sr.No.
BSE
code
Acquirername
Targetname
Ann
ouncem
ent
date
Target
type
Paym
ent
metho
dCou
ntry
150
0024
Assam
Co.
Ltd.
Dun
canMacneill
NaturalResou
rces
Ltd.
14-Jun
-06
Unlisted
Cash
Germany
250
0092
CRISIL
Ltd.
Econo
Matters
Ltd.
17-D
ec-03
Unlisted
Cash
UK
5000
92CRISIL
Ltd.
CoalitionDevelop
mentLtd.
1-Jun-12
Unlisted
Cash
UK
350
0093
Crompton
Greaves
Ltd.
MicrosolHolding
sLtd.
28-M
ay-07
Unlisted
Cash
Ireland
450
0093
Crompton
Greaves
Ltd.
SocieteNou
velle
DeMaintenance
Transform
ateurs/Son
omatra
2-Jun-08
Unlisted
Cash
France
550
0093
Crompton
Greaves
Ltd.
MSEPo
wer
System
sInc.
15-Sep-08
Unlisted
Cash
USA
650
0124
Dr.Reddy
’sLaboratories
Ltd.
TrigenesisTherapeuticsIn
6-May-04
Unlisted
Cash
USA
750
0124
Dr.Reddy
’sLaboratories
Ltd.
Betapharm
Arzneim
ittel
GmbH
6-Mar-06
Unlisted
Cash
Germany
850
0135
Essel
Prop
ackLtd.
AristaTub
es5-Aug
-04
Unlisted
Cash
UK
950
0135
Essel
Prop
ackLtd.
TelconPackaging
12-A
pr-05
Unlisted
Cash
UK
1050
0160
GTLLtd.
GenesisCon
sultancyLtd.
17-O
ct-06
Unlisted
Cash
UK
1150
0160
GTLLtd.
Ada
Cellworks
Sdn.
Bhd
.15
-Nov
-07
Unlisted
Cash
Malaysia
1250
0171
GH
CLLtd.
ROSE
BYS
31-Jul-06
Unlisted
Cash
UK
1350
0171
GH
CLLtd.
BEST
MANUFA
CTURIN
G12
-Feb-07
Unlisted
Cash
USA
1450
0184
Him
adriChemicals&
Inds.
Ltd.
Team
Paramou
ntLtd.
26-Sep-06
Unlisted
Cash
Hon
gKon
g
1550
0189
Hindu
jaVenturesLtd.
Source
One
Com
mun
ications
Inc.
1-Oct-04
Unlisted
Cash
USA
1650
0189
Hindu
jaVenturesLtd.
AFF
INA
9-Jan-07
Unlisted
Cash
USA
1750
0209
InfosysTechn
olog
iesLtd.
Exp
ertInform
ationServices
PtyLtd.
18-D
ec-03
Unlisted
Cash
Australia
1850
0209
InfosysTechn
olog
iesLtd.
Mainstream
Com
putin
gPtyLtd.
1-Apr-08
Unlisted
Cash
Australia
1950
0209
InfosysTechn
olog
iesLtd.
McC
amishSy
stem
sLLC
12-N
ov-09
Priv.
UNKNOWN
UnitedStates
2050
0209
InfosysLtd.
Lod
estone
Managem
ent
10-Sep-12
Priv.
CASH
OSw
itzerland
(con
tinued)
198 Appendix B: Sample Companies in Event Study …
(con
tinued)
Sr.No.
BSE
code
Acquirername
Targetname
Ann
ouncem
ent
date
Target
type
Paym
ent
metho
dCou
ntry
2150
0209
InfosysLtd.
Panaya
Inc.
16-Feb-15
Priv.
CASH
OUnitedStates
2250
0219
Jain
Irrigatio
nSy
stem
sLtd.
ChapinWatermatics
3-May-06
Unlisted
Cash
USA
2350
0219
Jain
Irrigatio
nSy
stem
sLtd.
Aqu
ariusBrand
sIn
15-Feb-07
Listed
Cash
USA
2450
0227
Jind
alPo
lyFilm
sLtd.
Rexor
23-Sep-03
Unlisted
Cash
France
2550
0241
Kirloskar
BrothersLtd.
SyncroFloInc.
5-Mar-14
Priv.
Cash
UnitedStates
2650
0257
Lup
inLtd.
Hormosan
PharmaGmbh
30-Jul-08
Unlisted
Cash
Germany
2750
0257
Lup
inLtd.
LaboratoriosGrinSA
deCV
27-M
ar-14
Priv.
Cash
Mexico
2850
0257
Lup
inLtd.
GAVIS
PharmsLLC,Nov
elLabs
23-Jul-15
Priv.
Cash
USA
2950
0302
Piramal
Health
care
Ltd.
AveciaPh
armaceuticals
27-O
ct-05
Unlisted
Cash
UK
3050
0302
Piramal
Health
care
Ltd.
MinradInternationalInc.
22-D
ec-08
Unlisted
Cash
USA
3150
0303
AdityaBirla
Nuv
oLtd.
MinacsWorldwideInc.
26-Jun
-06
Public
CASH
OCanada
3250
0303
AdityaBirla
Nuv
oLtd.
Com
pass
BPO
Ltd.
10-M
ar-10
Priv.
Cash
UK
3350
0304
NIITLtd.
ElementK
27-Jul-06
Unlisted
Cash
USA
3450
0308
NirmaLtd.
SearlesValleyMineralsCo
27-N
ov-07
Unlisted
Cash
USA
3550
0325
RelianceIndu
stries
Ltd.
Trevira
GmbH
24-Jun
-04
Unlisted
Cash
Germany
3650
0331
PidiliteIndu
stries
Ltd.
Pulvitecdo
BrasilIndu
stria
4-Jul-07
Unlisted
Cash
Brazil
3750
0339
RainCom
mod
ities
Ltd.
RCUSA
3-Mar-06
Listed
Cash
USA
3850
0359
Ranbaxy
Laboratories
RPG
Aventis
13-D
ec-03
Unlisted
Cash
France
3950
0359
Ranbaxy
Laboratories
Mun
dogenFarm
aSA
18-Jul-06
Unlisted
Cash
Spain
4050
0359
Ranbaxy
Laboratories
Terapia
SA28
-Mar-06
Unlisted
Cash
Rom
ania
4150
0359
Ranbaxy
Laboratories
Be-TabsPh
armaceuticalsLtd.
8-May-07
Unlisted
Cash
SouthAfrica
4250
0366
Rolta
IndiaLtd.
Piocon
Techn
olog
iesInc.
29-D
ec-08
Unlisted
Cash
USA (c
ontin
ued)
Appendix B: Sample Companies in Event Study … 199
(con
tinued)
Sr.No.
BSE
code
Acquirername
Targetname
Ann
ouncem
ent
date
Target
type
Paym
ent
metho
dCou
ntry
4350
0366
Rolta
IndiaLtd.
Whittm
anHartCon
sulting
29-Jul-08
Unlisted
Cash
USA
4450
0376
Satyam
Com
puterServices
Ltd.
Bridg
eStrategy
Group
21-Jan-08
Unlisted
Cash
USA
4550
0403
Sund
ram
FastenersLtd.
Peiner
UnformtechnikGmbh
,10
-Nov
-05
Unlisted
Cash
Germany
4650
0403
Sund
ram
FastenersLtd.
PU
TGrund
stucks
Gmbh
2-Aug
-07
Unlisted
Cash
Germany
4750
0420
Torrent
PharmaceuticalsLtd.
HeumannPh
armaGmbH
&Co
27-Jun
-05
Unlisted
Cash
Germany
4850
0440
HindalcoIndu
stries
Ltd.
Straits
(Nifty)Pty.
Ltd.
25-Jan-03
Unlisted
Cash
Australia
4950
0440
HindalcoIndu
stries
Ltd.
Nov
elisInc.
12-Feb-07
Listed
Cash
USA
5050
0464
UcalFu
elSy
stem
sLtd.
AMTEC
PrecisionProd
ucts,Inc,
(AMTEC)
2-Apr-05
Unlisted
Cash
USA
5150
0470
TataSteelLtd.
NatSteelLtd.
16-A
ug-04
Unlisted
Cash
Sing
apore
5250
0470
TataSteelLtd.
Corus
Group
PLC
17-O
ct-06
Listed
Cash
UK
5350
0483
TataCom
mun
ications
Ltd.
TycoGlobalNetwork
1-Nov
-04
Listed
Cash
USA
5450
0483
TataCom
mun
ications
Ltd.
Teleglobe
IntlHldgLtd.
25-Jul-05
Listed
Cash
Bermud
a
5550
0493
BharatFo
rgeLtd.
CarlDan
Pedd
ingh
usGmbh
22-N
ov-03
Unlisted
Cash
Germany
5650
0493
BharatFo
rgeLtd.
CDPAluminiumtechnikGmbH
&Co
11-D
ec-04
Unlisted
Cash
Germany
57 5850
0493
BharatFo
rgeLtd.
FederalFo
rgeInc.
29-Jun
-05
Unlisted
Cash
USA
5004
93BharatFo
rgeLtd.
Imatra
Kilsta
AB
22-Sep-05
Unlisted
Cash
Sweden
5950
0510
Larsen&
Tou
broLtd.
ThalestLtd.
4-Apr-12
Priv.
CASH
OUnited
Kingd
om
6050
0520
Mahindra&
MahindraLtd.
Tractorul
UTB
SA16
-Sep-05
Gov
tCash
Rom
ania
6150
0520
Mahindra&
MahindraLtd.
GR
Grafica
Ricerca
DesignSR
L8-Jan-08
Unlisted
Cash
Itlay
6250
0550
Siem
ensLtd.
MorganCon
structionCom
pany
2-Jan-08
Unlisted
Cash
USA (c
ontin
ued)
200 Appendix B: Sample Companies in Event Study …
(con
tinued)
Sr.No.
BSE
code
Acquirername
Targetname
Ann
ouncem
ent
date
Target
type
Paym
ent
metho
dCou
ntry
6350
0570
TataMotorsLtd.
Daewoo
Com
mercial
Vehicle
Co
5-Nov
-03
Unlisted
Cash
SouthKorea
6450
0570
TataMotorsLtd.
Hispano
Carrocera
SA25
-Feb-05
Listed
Cash,
call
optio
nSp
ain
6550
0570
TataMotorsLtd.
CedisMechanicalEng
g.Gmbh
12-Jan-06
Unlisted
Cash
Germany
6650
0570
TataMotorsLtd.
Jagu
arCarsLtd.
26-M
ar-08
Unlisted
Cash
UK
5005
70TataMotorsLtd.
LandRov
er26
-Mar-08
Unlisted
Cash
UK
6750
0770
TataChemicalsLtd.
General
Chemical
Indl.Prod
uctsInc.
31-Jan-08
Unlisted
Cash
USA
6850
0770
TataChemicalsLtd.
CheshireSaltHolding
sLtd.
20-D
ec-10
Priv.
Cash
United
Kingd
om
6950
0800
TataTea
Ltd.
Goo
dEarth
Teas
13-O
ct-05
Unlisted
Cash
USA
7050
0800
TataTea
Ltd.
JEMCA
2-May-06
Unlisted
Cash
UK
7150
0820
Asian
PaintsLtd.
Taubm
ans,Fiji
11-Sep-03
Unlisted
Cash
Fiji
7250
0850
Indian
HotelsCo.
Ltd.
Cam
pton
PlaceHotel,CA
3-Apr-07
Unlisted
Cash
USA
7350
0875
ITCLtd.
Techn
icoPtyLtd.
17-A
ug-07
Unlisted
Cash
Australia
7450
0877
Apo
lloTyres
Ltd.
Dun
lopTyres
InternationalLtd.
30-Jan-06
Unlisted
Cash
SouthAfrica
7550
0900
SterliteIndu
stries
(Ind
ia)
Ltd.
AsarcoLLC
2-Jun-08
Unlisted
Cash
USA
7650
2742
Sintex
Indu
stries
Ltd.
NiefPlasticsSA
30-O
ct-07
Unlisted
Cash
France
7750
2742
Sintex
Indu
stries
Ltd.
NeroPlastics
3-Dec-07
Unlisted
Cash
USA
7850
3806
SR
FLtd.
ThaiBarod
aInds.Ltd.
27-M
ay-08
Unlisted
Cash
Thailand
7950
3806
SR
FLtd.
Indu
stex
Holding
s(Pty)Ltd.(IH)
15-Jul-08
Unlisted
Cash
SouthAfrica
8050
4067
ZensarTechn
olog
iesLtd.
PSIHolding
Group
Inc.
22-N
ov-10
Priv.
CASH
OUnitedStates
(con
tinued)
Appendix B: Sample Companies in Event Study … 201
(con
tinued)
Sr.No.
BSE
code
Acquirername
Targetname
Ann
ouncem
ent
date
Target
type
Paym
ent
metho
dCou
ntry
8150
5200
EicherMotorsLtd.
DesignIntent
Eng
ineering
Inc.
30-Jun
-05
Unlisted
Cash
USA
8250
5200
EicherMotorsLtd.
Hoff&
Associates
25-A
pr-07
Unlisted
Cash
USA
8350
5255
GM
MPfaudler
Ltd.
Mavag
AG
24-D
ec-07
Unlisted
Cash
Switzerland
8450
5324
Manug
raph
IndiaLtd.
Dauph
inGraph
icMachinesInc.
7-Nov
-06
Unlisted
Cash
USA
8550
5854
TRFLtd.
HR
IntlCrushing&
Screening
22-M
ar-10
Priv.
CASH
OUnited
Kingd
om
8650
6618
Punjab
Chemicals&
Crop
Protectio
nLtd.
Pevo
belN.V.andGevob
elN.V
27-A
ug-07
Unlisted
Cash
Netherland
8750
7315
Sakthi
Sugars
Ltd.
INTERMETEurop
eGmbH
&Co
30-A
pr-07
Unlisted
Cash
Germany
8850
7315
Sakthi
Sugars
Ltd.
ArvikaGjuteriAB
22-Feb-08
Unlisted
Cash
Sweden
8950
7315
Sakthi
Sugars
Ltd.
Sakthi
AutoMauritiu
sLtd.
31-M
ar-11
Priv.
Cash
Mauritiu
s
9050
7685
Wipro
Ltd.
New
Log
icTechn
olog
iesAG
19-D
ec-05
Unlisted
Cash
Austria
9150
7685
Wipro
Ltd.
cMango
Inc.
20-Feb-06
Unlisted
Cash
USA
9250
7685
Wipro
Ltd.
QuantechGlobalServices
Ltd.
15-M
ay-06
Unlisted
Cash
USA
9350
7685
Wipro
Ltd.
Hyd
rautoGroup
AB
28-Sep-06
Unlisted
Cash
Sweden
9450
7685
Wipro
Ltd.
OKITechn
oCentreSing
aporePteLtd.
28-Sep-07
Unlisted
Cash
Sing
apore
9550
7685
Wipro
Ltd.
Opu
sCapitalMarkets
2-Dec-13
Priv.
CASH
OUnitedStates
9650
8976
Spanco
Ltd.
Great
ITPteLtd.
5-Feb-08
Unlisted
Cash
Sing
apore
9750
9472
CravatexLtd.
BB(U
K)Ltd.
10-M
ar-11
Priv.
Cash
United
Kingd
om
9850
9480
BergerPaintsIndiaLtd.
Bolix
SA29
-Apr-08
Unlisted
Cash
Poland
9950
9550
Gam
mon
IndiaLtd.
Sofinter
SpA
10-Sep-08
Priv.
CASH
OItaly
100
5113
89VideoconIndu
stries
Ltd.
EncanaBrasilP
etroleoLim
itada
(EBPL
)13
-Sep-07
Unlisted
Cash
Brasil
(con
tinued)
202 Appendix B: Sample Companies in Event Study …
(con
tinued)
Sr.No.
BSE
code
Acquirername
Targetname
Ann
ouncem
ent
date
Target
type
Paym
ent
metho
dCou
ntry
101
5116
58Nettlinx
Ltd.
Nettlinx
Inc.
28-Jan-06
Unlisted
Cash
USA
102
5116
58Nettlinx
Ltd.
HostDepartm
ent,LLC
3-Sep-07
Unlisted
Cash
USA
103
5116
58Nettlinx
Ltd.
Ancho
rSy
stem
sPty.
Ltd.
14-M
ay-08
Unlisted
Cash
Australia
104
5120
70UnitedPh
osph
orus
Ltd.
AG
Value,Inc.
5-Nov
-04
Unlisted
Cash
USA
105
5120
70UnitedPh
osph
orus
Ltd.
REPO
SOS.A.I.C
31-O
ct-05
Unlisted
Cash
Argentin
a
106
5120
70UnitedPh
osph
orus
Ltd.
Adv
anta
Netherlands
Holding
sB
V14
-Feb-06
Unlisted
Cash
Netherland
107
5120
70UnitedPh
osph
orus
Ltd.
Cropserve
9-Aug
-06
Unlisted
Cash
SouthAfrica
108
5120
70UnitedPh
osph
orus
Ltd.
Evo
farm
sGroup
ofCos
18-Feb-08
Unlisted
Cash
Colom
bia
109
5120
93CranesSo
ftwareIntl.
Ltd.
Eng
ineering
Mechanics
Research
Corpo
ratio
n(EMRC)
23-M
ay-05
Unlisted
Cash
USA
110
5120
93CranesSo
ftwareIntl.
Ltd.
Analytix
System
sPv
t.Ltd.
27-Jul-06
Unlisted
Cash,
ESO
PUSA
111
5120
93CranesSo
ftwareIntl.
Ltd.
Eng
ineering
Techn
olog
yAssociatesIn
7-Jan-08
Unlisted
Cash
USA
112
5120
93CranesSo
ftwareIntl.
Ltd.
Cub
ewareGmbH
24-Jul-08
Unlisted
Cash,
stock
Germany
113
5125
79Gujarat
NRECok
eLtd.
Gujarat
NR
EResou
rces
NL
31-A
ug-07
Listed
Stock
Australia
114
5140
43Him
atsing
kaSeideLtd.
DWIHolding
sInc.
19-O
ct-07
Unlisted
Cash
USA
115
5171
95O
RG
Inform
aticsLtd.
DG
ITSo
lutio
nsPte.
Ltd.
3-Jan-07
Unlisted
Cash
Sing
apore
116
5173
34Motherson
SumiSy
stem
sLtd.
Empire
Rub
ber
15-M
ay-07
Unlisted
Cash
Australia
117
5173
44Mindteck(Ind
ia)Ltd.
ISSCon
sultantsInc.
3-Apr-06
Unlisted
Cash
USA
118
5173
44Mindteck(Ind
ia)Ltd.
Prim
etechSo
lutio
nsInc.
2-Apr-08
Unlisted
Stock
USA
119
5173
54HavellsIndiaLtd.
Greek
ElectricalCom
pany
4-Oct-05
Unlisted
Cash
Greece
120
5173
54HavellsIndiaLtd.
SLISy
lvania
13-M
ar-07
Unlisted
Cash
Netherland
(con
tinued)
Appendix B: Sample Companies in Event Study … 203
(con
tinued)
Sr.No.
BSE
code
Acquirername
Targetname
Ann
ouncem
ent
date
Target
type
Paym
ent
metho
dCou
ntry
121
5175
18Lloyd
Electric&
Eng
ineering
Ltd.
Luv
ataCzech
SR
O14
-May-08
Unlisted
Cash
Czech
Repub
lic
122
5200
77AmtekAutoLtd.
KetlonLtd.
7-Nov
-07
Unlisted
Cash
UK
123
5200
86SicalLog
isticsLtd.
BergenOffshoreLog
isticsPte
27-Sep-06
Unlisted
Cash
Sing
apore
124
5210
82Sp
entexIndu
stries
Ltd.
Tashk
entTo’yetpaTekstilLLC
27-Jul-06
Gov
t.Cash
Uzbekistan
125
5210
82Sp
entexIndu
stries
Ltd.
Scho
ellerLitv
inov
ks3-Jul-07
Unlisted
Cash
Czech
Repub
lic
126
5220
04Batlib
oiLtd.
Quickmill
Inc.
26-M
ar-07
Unlisted
Cash
Canada
127
5222
95Con
trol
PrintLtd.
Liberty
Chemicals(Pv
t)Ltd.
8-Apr-11
Priv.
Cash
SriLanka
128
5232
04AbanOffshoreLtd.
Row
anTexas
5-Sep-05
Unlisted
Cash
USA
129
5232
04AbanOffshoreLtd.
WestAfricaDrilling
N.V
4-Feb-06
Unlisted
Cash
Netherland
130
5232
83Su
perhou
seLeathersLtd.
Linea
DeSegu
ridadSL
20-Sep-12
Priv.
Cash
Spain
131
5237
04MastekLtd.
System
sTaskGroup
IntlLtd.
10-M
ar-08
Unlisted
Cash,
future
cash
earn
USA
132
5238
20Neo
CorpIntl.
Ltd.
Europ
lastLtd.
26-Jun
-08
Unlisted
Cash
UK
133
5244
04MarksansPh
armaLtd.
HaleGroup
31-D
ec-07
Unlisted
Cash
UK
134
5244
04MarksansPh
armaLtd.
Relon
chem
Ltd.
28-A
ug-08
Unlisted
Cash
UK
135
5244
04MarksansPh
armaLtd.
Tim
e-Cap
LabsInc.
30-Jun
-15
Priv.
Cash
UnitedStates
136
5247
15Su
nPh
armaceutical
Indu
stries
Ltd.
Chattem
ChemicalsInc.
27-N
ov-08
Unlisted
Cash
USA
137
5247
94MatrixLaboratoriesLtd.
Docph
armaNV,
19-Jun
-05
Listed
Cash
Belgium
138
5248
04Aurob
indo
PharmaLtd.
Milp
harm
Ltd.
10-Feb-06
Unlisted
Cash
UK
139
5248
04Aurob
indo
PharmaLtd.
Pharmacin
InternationalB.V.
29-D
ec-06
Unlisted
Cash
Netherland
140
5248
04Aurob
indo
PharmaLtd.
TAD
ItalyIP
24-M
ar-08
Unlisted
Cash
Itlay (con
tinued)
204 Appendix B: Sample Companies in Event Study …
(con
tinued)
Sr.No.
BSE
code
Acquirername
Targetname
Ann
ouncem
ent
date
Target
type
Paym
ent
metho
dCou
ntry
141
5261
37Sh
etronLtd.
ShetronSo
bemiEurop
eN.V.
14-N
ov-07
Unlisted
Cash
Belgium
142
5262
99Mph
asiS
BFL
Ltd.
PrincetonCon
sulting
Ltd.
14-Feb-05
Priv.
CASH
OUnited
Kingd
om
143
5264
07Ritesh
Indu
stries
Ltd.
CatalinaBay
Inc.
27-Jun
-07
Unlisted
Cash
USA
144
5264
33A
SM
Techn
olog
iesLtd.
EnterpriseSo
ftwareResou
rces
(ESR
)29
-Nov
-07
Unlisted
Cash
USA
145
5267
97GreenplyIndu
stries
Ltd.
GIL
Intercon
tinentalPteLtd.
28-Jul-06
Priv.
Cash
Sing
apore
146
5268
53BilcareLtd.
ProC
linical
Inc.
15-Jul-05
Unlisted
Cash
USA
147
5268
53BilcareLtd.
DHPLtd.
19-Sep-06
Unlisted
Cash
UK
148
5268
53BilcareLtd.
Sing
ular
IDPteLtd.
4-Jan-08
Priv.
Cash
Sing
apore
149
5300
07JK
Tyres
&Indu
stries
Ltd.
Com
paniaHuleraTornelSA
11-A
pr-08
Priv.
CASH
OMexico
150
5300
19Jubilant
Organosys
Ltd.
TargetResearchAssociatesInc.
5-Oct-05
Unlisted
Cash
USA
151
5300
19Jubilant
Organosys
Ltd.
HollisterstierLaboratoriesLLC
25-A
pr-07
Unlisted
Cash
USA
152
5305
49Sh
ilpaMedicareLtd.
Lob
aFeinchem
ie31
-Mar-08
Unlisted
Cash
Austria
153
5305
55Paramou
ntCom
mun
ications
Ltd.
AEICablesLtd.
4-Sep-07
Listed
Cash
UK
154
5307
03Info-D
rive
SoftwareLtd.
BhariInform
ationTechn
olog
iesSD
NBHD
(BITECH)
13-Sep-07
Unlisted
Cash
Malaysia
155
5311
31MasconGlobalLtd.
ebusinessw
areInc.
15-M
ay-08
Unlisted
Cash
USA
156
5315
00RajeshExp
ortsLtd.
Valcambi
GoldRefineries
Hldg
2-Jul-15
Private
CASH
OSw
itzerland
157
5316
42MaricoLtd.
Enaleni
PharmaceuticalsCon
sumer
Division(Pty)Ltd.
31-O
ct-07
Unlisted
Cash
USA
158
5316
75Tricom
IndiaLtd.
Tricom
Docum
entManagem
entInc.
23-Jul-04
Priv.
Cash
UnitedStates
159
5318
16Pano
ramic
Universal
Ltd.
Future
Travels
24-D
ec-07
Unlisted
Cash
USA (c
ontin
ued)
Appendix B: Sample Companies in Event Study … 205
(con
tinued)
Sr.No.
BSE
code
Acquirername
Targetname
Ann
ouncem
ent
date
Target
type
Paym
ent
metho
dCou
ntry
160
5318
16IT
HospitalityInc.
Holiday
InnHotel,Hud
son,Ohio
31-O
ct-05
Priv.
Cash
UnitedStates
161
5318
47Asian
Star
CoLtd.
InterGem
sDMCC
28-A
pr-08
Unlisted
Cash
Dub
ai
162
5318
97Accentia
Techn
olog
iesLtd.
GSR
System
sInc.
2-Jul-07
Unlisted
Cash,
stock
USA
5318
97Accentia
Techn
olog
iesLtd.
GSR
Physicians
BillingService
2-Jul-07
Unlisted
Cash,
stock
USA
163
5321
29Hexaw
areTechn
olog
iesLtd.
FocusFram
eInc.
7-Nov
-06
Unlisted
Cash
USA
164
5321
33IFGLRefractoriesLtd.
Mon
ocon
IntlRefractoriesLtd.
5-Aug
-05
Listed
Cash
UK
164
5322
49SQ
LStar
InternationalLtd.
TalentFuseInc.
17-A
pr-07
Priv.
Cash
UnitedStates
165
5322
54Po
larisSo
ftwareLab
Ltd.
Seec
Inc.
30-Sep-08
Unlisted
Cash
USA
166
5322
68KaleCon
sultantsLtd.
ZeroOctaUK
Ltd.
7-Aug
-07
Unlisted
Cash
UK
167
5322
81H
CLTechn
olog
iesLtd.
CapitalStream
Inc.
20-Feb-08
Unlisted
Cash
USA
168
5322
81H
CLTechn
olog
iesLtd.
Con
trol
PointSo
lutio
ns,Inc.
25-A
ug-08
Unlisted
Cash
USA
169
5322
82AmtekIndiaLtd.
Sigm
aCastGroup
Ltd.
7-Feb-05
Unlisted
Cash
UK
170
5322
83KaashyapTechn
olog
iesLtd.
Log
isticsSo
lutio
nsInc.
4-Jul-07
Unlisted
Cash
USA
171
5322
96Glenm
arkPh
armaceuticals
Ltd.
LaboratoriosKlin
ger
2-Apr-04
Unlisted
Cash
Brazil
172
5323
00Wockh
ardt
Ltd.
CPPh
armaceuticalsLtd.
8-Jul-03
Unlisted
Cash
UK
173
5323
00Wockh
ardt
Ltd.
Pinewoo
dLaboratoriesLtd.
3-Oct-06
Unlisted
Cash
Ireland
174
5323
00Wockh
ardt
Ltd.
NegmaLeradsSA
S3-May-07
Unlisted
Cash
France
175
5323
01TataCoffeeLtd.
Eight’O
Clock
CoffeeHolding
sInc.
25-Jun
-06
Unlisted
Cash
USA
176
5323
11Amex
Inform
ation
Techn
olog
ies
Siacom
22-D
ec-03
Unlisted
Stock
UK (c
ontin
ued)
206 Appendix B: Sample Companies in Event Study …
(con
tinued)
Sr.No.
BSE
code
Acquirername
Targetname
Ann
ouncem
ent
date
Target
type
Paym
ent
metho
dCou
ntry
177
5323
12GeometricLtd.
TekSo
ftInc.
4-Jan-05
Unlisted
Cash
USA
178
5323
18Gem
iniC
ommun
icationLtd.
PointRed
Tech
14-Jun
-06
Unlisted
Cash
USA
179
5323
21Cadila
Health
care
Ltd.
QuimicaeFarm
aceuticaNikkh
odo
BrasilLtd.
25-Jun
-07
Unlisted
Cash
Brazil
180
5323
21Cadila
Health
care
Ltd.
LaboratoriesCom
bix
30-M
ay-08
Unlisted
Cash
Spain
181
5323
21Cadila
Health
care
Ltd.
EtnaBiotech
Srl
11-N
ov-08
Unlisted
Cash
Itlay
182
5323
21Cadila
Health
care
Ltd.
Nippo
nUniversal
Pharm
20-A
pr-07
Unlisted
Cash
Japan
183
5323
22Elder
PharmaceuticalsLtd.
Max
Health
care
Ltd.
1-Jul-13
Priv.
Cashless
United
Kingd
om
184
5323
41Log
ixMicrosystem
sLtd.
PrizeCorp-Recko
nUpProd
Line
2-Aug
-07
Unlisted
Cash
USA
185
5323
47Helios&
Matheson
Inform
ationTechn
olog
yLtd.
Maruthi
Info
TechInc.
31-A
ug-04
Unlisted
Cash
USA
186
5323
47Helios&
Matheson
Inform
ationTechn
olog
yLtd.
vMok
shaTechn
olog
iesIncUSA
12-A
pr-05
Unlisted
Cash
USA
187
5323
48Su
bexLtd.
Alcatel’s
FraudManagem
entGroup
28-Jul-04
Unlisted
Cash
France
188
5323
48Su
bexLtd.
Azure
Solutio
nsLtd.
25-A
pr-06
Unlisted
Cash,
stock
UK
189
5323
48Su
bexLtd.
Synd
esisLtd.
18-Jan-07
Unlisted
Cash
Canada
190
5323
68LG
SGlobalLtd.
Lanco
GlobalSy
stem
sInc.
14-D
ec-05
Unlisted
Stock
USA
191
5323
72VirinchiTechn
olog
iesLtd.
KSo
ftSy
stem
sInc.
27-A
ug-05
Priv.
Cash,
preferential
shares
UnitedStates
(con
tinued)
Appendix B: Sample Companies in Event Study … 207
(con
tinued)
Sr.No.
BSE
code
Acquirername
Targetname
Ann
ouncem
ent
date
Target
type
Paym
ent
metho
dCou
ntry
192
5323
86CaliforniaSo
ftwareCo.
Ltd.
InternationalInno
vatio
nsInc.
13-N
ov-07
Unlisted
Cash
USA
193
5323
91OptoCircuits
(Ind
ia)Ltd.
Eurocor
GmbH
20-O
ct-05
Unlisted
Cash
Germany
194
5323
91OptoCircuits
(Ind
ia)Ltd.
CriticareSy
stem
sInc.
25-Feb-08
Listed
Cash
USA
195
5323
91OptoCircuits(Ind
ia)Ltd.
Cardiac
Science
2-Dec-10
Listed
Cash
USA
196
5323
95IT&
TLtd.
AxisInc.
19-D
ec-03
Unlisted
Cash
USA
197
5324
00K
PITCum
mins
Infosystem
sLtd.
PanexCon
sulting
Inc.
25-A
ug-03
Unlisted
Cash,
ESO
PUSA
198
5324
07Moschip
Semicon
ductor
Techn
olog
yLtd.
Verasity
Techn
olog
iesInc.
20-M
ar-03
Listed
Stock
USA
199
5324
11ViseshInfotecnicsLtd.
OpentechThaiNetwork
7-Nov
-03
Priv.
Cash
Thailand
200
5324
24God
rejCon
sumer
Prod
ucts
Ltd.
God
rejGlobalMid
EastFZE
1-Oct-07
Unlisted
Cash
Sharjah
201
5324
24God
rejCon
sumer
Prod
uctsLtd.
ArgencosSA
3-Jun-10
Priv.
Cash
Argentin
a
202
5324
32UnitedSp
irits
Ltd.
Why
te&
MackayGroup
Plc.
16-M
ay-07
Unlisted
Cash
UK
203
5324
40M
PSLtd.
InteractiveCom
positio
nCorpn
.6-Mar-06
Unlisted
Cash
USA
204
5324
66OracleFinancialServices
SoftwareLtd.
SuperSolutions
Corp
16-D
ec-03
Unlisted
Cash
USA
205
5324
79ISM
TLtd.
StructoHyd
raulicsA
B5-Jun-07
Unlisted
Cash
Sweden
206
5325
17PatniCom
puterSy
stem
sLtd.
ZAiQ
Techn
olog
iesInc.
29-Jun
-06
Unlisted
Cash
USA (c
ontin
ued)
208 Appendix B: Sample Companies in Event Study …
(con
tinued)
Sr.No.
BSE
code
Acquirername
Targetname
Ann
ouncem
ent
date
Target
type
Paym
ent
metho
dCou
ntry
207
5325
17PatniCom
puter
System
sLtd.
Cym
balCorp
12-O
ct-04
Priv.
Cash
UnitedStates
208
5325
17PatniCom
puter
System
sLtd.
Taratec
Develop
mentCorp
23-Jul-07
Priv.
CASH
OUnitedStates
209
5325
21Fo
urSo
ftLtd.
Com
exFron
tierLtd.
27-M
ay-05
Unlisted
Cash
Sing
apore
210
5325
21Fo
urSo
ftLtd.
Transaxiom
Holding
A/S
20-D
ec-06
Unlisted
Cash,
stock
Denmark
212
5325
26Dishm
anPh
arma&
Chem
Ltd.
CARBOGEN
AMCIS
AG
22-A
ug-06
Unlisted
Cash
Switzerland
213
5325
26Dishm
anPh
arma&
Chem
Ltd.
Solvay
Pharmaceuticals-Fine
8-Jul-07
Unlisted
Cash
Netherland
214
5325
26Dishm
anPh
arma&
Chem
Ltd.
Synp
rotecLtd.
20-A
pr-05
Priv.
Cash
United
Kingd
om
215
5325
31StridesArcolab
Ltd.
Haw
ParHealth
care
1-Sep-06
Unlisted
Cash
Sing
apore
216
5325
31StridesArcolab
Ltd.
DiaspaSPA
6-Aug
-07
Unlisted
Cash
Itlay
217
5325
31StridesArcolab
Ltd.
DrugHou
sesof
Australia(A
sia)
1-Sep-06
Sub.
CASH
OSing
apore
218
5325
40TataCon
sultancyServices
Ltd.
Finl
NetworkSv
csPtyLtd.
20-O
ct-05
Unlisted
Cash
Australia
219
5325
41N
IITTechn
olog
iesLtd.
Roo
mSo
lutio
nsLtd.
8-May-06
Unlisted
Cash
UK
220
5325
41N
IITTechn
olog
iesLtd.
Softec
Gmbh
28-Feb-08
Listed
Cash
Germany
221
5326
07Ontrack
System
sLtd.
IntellisysTechn
olog
yLLC
17-M
ay-06
Unlisted
Stock
USA
222
5326
07Ontrack
System
sLtd.
IQ
Techn
olog
iesLLC
1-Aug
-08
Unlisted
Cash
USA
223
5326
283I
Infotech
Ltd.
Regulus
Group
LLC
29-A
pr-08
Unlisted
Cash
USA
224
5326
43Sh
reeGaneshFo
rgings
Ltd.
Hertecant
NV
(OutoK
umpu
grou
p)9-Apr-07
Unlisted
Cash
Belgium
(con
tinued)
Appendix B: Sample Companies in Event Study … 209
(con
tinued)
Sr.No.
BSE
code
Acquirername
Targetname
Ann
ouncem
ent
date
Target
type
Paym
ent
metho
dCou
ntry
225
5326
63Sasken
Com
mun
ication
BotniaHightechOy
26-Jul-06
Priv.
CASH
OFinland
226
5326
67Su
zlon
EnergyLtd.
Eve
Holding
NV
17-M
ar-06
Priv.
CASH
OBelgium
227
5326
68AurionP
roSo
lutio
nsLtd.
SENA
System
sInc,
USA
4-Mar-08
Unlisted
Stock
USA
228
5326
72Glody
neTechn
oserve
Ltd.
Links
Group
InternationalInc.
29-M
ar-07
Unlisted
Cash
USA
229
5326
72Glody
neTechn
oserve
Ltd.
Fron
tOffice
Techn
olog
iesInc.
31-O
ct-07
Unlisted
Cash
USA
230
5326
94Bartron
icsIndiaLtd.
Prox
imities
Inc.
29-Jan-08
Unlisted
Cash
USA
231
5327
15GitanjaliGem
sLtd.
Rog
ersLtd.Inc.
20-N
ov-07
Unlisted
Cash
USA
232
5327
15GitanjaliGem
sLtd.
Crownaim
Ltd.
5-Dec-11
Priv.
Cash
Hon
gkon
g
233
5327
15GitanjaliGem
sLtd.
JapanJewel
KK
5-Mar-12
Priv.
Cash
Japan
234
5327
35RSy
stem
sInternationalLtd.
SentoEurop
e28
-Dec-07
Unlisted
Cash
France
235
5327
35RSy
stem
sInternationalLtd.
Com
putarisInternationalLtd.
13-D
ec-10
Priv.
CASH
OUnited
Kingd
om
236
5327
35RSy
stem
sInternationalLtd.
WebCon
verse,
Inc.
24-A
ug-06
Unlisted
Cash
USA
237
5327
35RSy
stem
sInternationalLtd.
IBIZCSGroup
Pte.
Lim
ited,
Sing
apore
1-May-15
Priv.
Cash
Sing
apore
238
5327
48Prim
eFo
cusLtd.
PostLog
icStud
ios
28-N
ov-07
Unlisted
Cash
USA
Prim
eFo
cusLtd.
Frantic
Film
sCorp-Visual
28-N
ov-07
Unlisted
Cash
USA
239
5327
49Allcargo
GlobalLog
istics
Ltd.
FCLMarineAgencies,Rotterdam
18-D
ec-13
Unlisted
Cash
Netherlands
240
5327
49Allcargo
GlobalLog
istics
Ltd.
Econo
caribe
Con
solid
atorsInc.
27-Sep-13
Priv.
Cash
UnitedStates
(con
tinued)
210 Appendix B: Sample Companies in Event Study …
(con
tinued)
Sr.No.
BSE
code
Acquirername
Targetname
Ann
ouncem
ent
date
Target
type
Paym
ent
metho
dCou
ntry
241
5327
49Allcargo
GlobalLog
istics
Ltd.
China
Con
solid
ationServices
Shipping
Ltd.andNingb
oStar
Exp
ress
Shipping
Co.
Ltd.
25-O
ct-10
Unlisted
Cash
Sing
apore
242
5327
61Hov
Services
Ltd.
Lason
Inc.
26-Feb-07
Sub.
Cash
UnitedStates
243
5327
61HOV
Services
Ltd.
SOURCECORPInc.
14-M
ar-11
Sub.
Stock
UnitedStates
244
5327
83LTFo
odsLtd.
Kusha
Inc.
24-D
ec-07
Priv.
cash
UnitedStates
245
5327
91Py
ramid
Saim
iraTheatre
Ltd.
FunA
sia
30-O
ct-07
Priv.
Cash
UnitedStates
246
5328
01Cam
bridge
TechEnt
Ltd.
Com
creatio
nInc.
28-M
ay-07
Priv.
CASH
OUnitedStates
247
5328
01Cam
bridge
TechEnt
Ltd.
Reilly
&AssociatesInc.
19-Jul-07
Priv.
Cash
UnitedStates
248
5328
08PearlGlobalIndu
stries
Lim
ited
FXIm
portsLtd.
6-Dec-07
Priv.
Cash
United
Kingd
om
249
5328
32IndiabullsRealEstateLtd.
Dev
Prop
erty
Develop
mentPL
C28
-Feb-08
Listed
Stock
UK
250
5328
34Cam
linFine
ChemicalsLtd.
BorregaardItalia
16-D
ec-10
Unlisted
Cash
Italy
251
5328
35ICRA
Ltd.
Sapp
hire
InternationalInc.
20-M
ar-09
Sub.
Cash
UnitedStates
252
5328
56Tim
eTechn
oplastLtd.
GulfPo
werbeat
WLL
27-D
ec-07
Priv.
Cash
Bahrain
253
5328
66Quintegra
Solutio
nsLtd.
PACorp
3-Dec-07
Priv.
CASH
OUnitedStates
254
5329
27eC
lerx
Invesm
entsLtd.
AgilystInc.
12-A
pr-12
Priv.
CASH
OUnitedStates
255
5329
27eC
lerx
Services
Ltd.
CLX
Europ
eSp
A31
-Mar-15
Priv.
Cash
Italy
256
5329
67KiriHolding
Sing
aporePv
tLtd.
DyS
tarTextilfarben
GmbH
4-Feb-10
Sub.
Cash
Germany
(con
tinued)
Appendix B: Sample Companies in Event Study … 211
(con
tinued)
Sr.No.
BSE
code
Acquirername
Targetname
Ann
ouncem
ent
date
Target
type
Paym
ent
metho
dCou
ntry
257
5900
41KavveriTelecom
Prod
ucts
Ltd.
DCIDigitalCom
mun
ications
Ltd.
25-A
pr-07
Unlisted
Cash
Canada
258
5900
41KavveriTelecom
Prod
ucts
Ltd.
SpotwaveWirelessInc.
17-Jan-08
Unlisted
Cash
Canada
259
5900
51SaksoftLtd.
AcumaGroup
Ltd.
3-Oct-06
Priv.
CASH
OUnited
Kingd
om
260
5900
51SaksoftInc.
ElectronicDataProfession
als
1-Jan-13
Priv.
Cash
UnitedStates
212 Appendix B: Sample Companies in Event Study …
Appendix CSample Companies in Event Study(Cross-Border Partial/Majority ControlAcquisitions)
© Springer Science+Business Media Singapore 2016N. Rani et al., Mergers and Acquisitions, India Studiesin Business and Economics, DOI 10.1007/978-981-10-2203-6
213
Sr.
No.
BSE
code
Acquirername
Targetname
Ann
ouncem
ent
Date
Stake
acqu
ired
Target
type
Paym
ent
metho
dCou
ntry
150
0024
Assam
Co(India)Ltd.
Austin
Exp
loratio
nLtd.
15-M
ay-06
51Unlisted
Cash
Australia
250
0096
Dabur
IndiaLtd.
African
Con
sumer
CareLtd.
24-Jul-04
90Unlisted
Cash
Nigeria
350
0102
Ballarpur
Indu
stries
Ltd.
SabahFo
restIndu
stries
(SFI)
SdnBhd
,5-Jun-06
97.8
Unlisted
Cash
Malaysia
450
0135
Essel
Prop
ackLtd.
Medical
Eng
ineering
&Design
5-Sep-08
74Unlisted
Cash
USA
550
0171
GH
CLLtd.
S.C.BegaUpsom
S.A
7-Dec-05
65Unlisted
Cash
Rom
ania
650
0179
HCLInfosystem
sLtd.
NTSGroup
8-Jul-10
60Priv.
cash
Utd
Arab
Em
750
0189
Hindu
jaVenturesLtd.
Customer
Con
tactCentre(c3)
30-O
ct-03
51Unlisted
Cash
Philipp
ines
850
0219
Jain
Irrigatio
nSy
stem
sLtd.
Tho
mas
MachinesSA
20-N
ov-06
69.75
Unlisted
Cash
Switzerland
950
0219
Jain
Irrigatio
nSy
stem
sLtd.
Cascade
Specialties
Inc.
3-Mar-08
51Unlisted
Cash
USA
1050
0257
Lup
inLtd.
PharmaDyn
amics
18-Sep-08
60Unlisted
Cash
South
Africa
1150
0257
Lup
inLtd.
MulticarePh
arm
Philipp
ines
26-M
ar-09
51Priv.
Cash
Philipp
ines
1250
0331
PidiliteIndu
stries
Ltd.
ChemsonAsiaPteLtd.
27-Jan-05
75Unlisted
Cash
Sing
apore
1350
0331
PidiliteIndu
stries
Ltd.
Bam
co(Thailand
)CoLtd.
1-Mar-06
75Unlisted
Cash
Thailand
1450
0425
Ambu
jaCem
entsLtd.
DangCem
entIndu
stries
Pvt
Ltd.
6-Jun-11
85Priv.
Cash
Nepal
1550
0470
TataSteelLtd.
Millennium
SteelPC
L15
-Dec-05
62.89
Listed
Cash
Thailand
1650
0520
Mahindra&
MahindraLtd.
Bristlecone
Inc.
9-Feb-04
51Listed
Cash
USA
1750
0520
Mahindra&
MahindraLtd.
Stok
esFo
rgings
Ltd.
4-Jan-06
98.76
Unlisted
Cash
UK
1850
0520
Mahindra&
MahindraLtd.
JECO
Holding
AG
28-Sep-06
67.9
Unlisted
Cash
Germany
1950
0520
Mahindra&
MahindraLtd.
Scho
enew
eiss
&CoGmbH
22-D
ec-06
90.47
Unlisted
Cash
Germany
2050
0570
TataMotorsLtd.
Miljob
ilGrenlandAS
14-O
ct-08
50.3
Unlisted
Cash
UK (con
tinued)
214 Appendix C: Sample Companies in Event Study …
(con
tinued)
Sr.
No.
BSE
code
Acquirername
Targetname
Ann
ouncem
ent
Date
Stake
acqu
ired
Target
type
Paym
ent
metho
dCou
ntry
2150
0770
TataChemicalsLtd.
Brunn
erMon
dGroup
Ltd.
24-N
ov-05
63.7
Listed
Cash
UK
2250
0800
TataGlobalBeverageLtd.
(formerly
TataTea)
SuntycoHolding
Lim
ited
26-M
ar-09
51Priv.
Cash
Cyp
rus
2350
0900
SterliteIndu
stries
(Ind
ia)Ltd.
Kon
kola
Cop
perMines
pl20
-Aug
-04
51Unlisted
Cash
Zam
bia
2450
2742
Sintex
Indu
stries
Ltd.
Wausauk
eeCom
positesInc.
1-Jun-07
81Unlisted
Cash
USA
2550
2742
Sintex
Indu
stries
Ltd.
GEIG
ERtechnikGmbH
31-Jul-08
90Unlisted
Cash
Germany
2650
5854
TR
FLtd.
YorkTranspo
rtEqu
ipment
(Asia)
PteLtd.
23-Jul-07
51Unlisted
Cash
Sing
apore
2750
6480
IDLIndu
stries
Lim
ited
GulfOilYantaiCoLtd.
21-A
pr-05
51Unlisted
Cash
China
2851
3375
Carbo
rund
umUniversal
Ltd.
OAO
VolzhskyAbrasive
Works
7-Sep-07
84Listed
Cash
Russia
2951
4043
Him
atsing
kaSeideLtd.
Giusepp
eBellora
SpA
29-Jan-07
70Unlisted
Cash
Itlay
3051
4043
Him
atsing
kaSeideLtd.
Divatex
Hom
eFashions
Inc.
3-Jul-07
80Unlisted
Cash
USA
3151
4162
Welspun
IndiaLtd.
CHTHolding
sLtd.
3-Jul-06
85Unlisted
Cash
UK
3251
4162
Welspun
IndiaLtd.
Sorema-Tapates
eCortin
asde
Banho
,SA
19-D
ec-07
76Unlisted
Cash
Portug
al
3351
7140
Moser
BaerIndiaLtd.
Kon
inklijk
ePh
ilips
Electronics
NV
6-Feb-07
81Unlisted
Cash
Netherland
3452
0077
AmtekAutoLtd.
GWK
Group
Ltd.
16-M
ar-04
85Unlisted
Cash
UK
3552
0077
AmtekAutoLtd.
ZelterGmbH
5-Jul-05
70Unlisted
Cash
Germany
3652
1070
AlokIndu
stries
Ltd.
Mileta
AS
26-Sep-06
60Unlisted
Cash
Czech
Repub
lic
3752
2004
Batlib
oiLtd.
AESA
AirEng
ineering
SA20
-Jun
-07
70Unlisted
Cash
France
3852
3236
Shrenu
j&
Com
pany
Ltd.
Simon
Golub
&So
nsInc.
8-May-07
84.6
Unlisted
Cash
USA (con
tinued)
Appendix C: Sample Companies in Event Study … 215
(con
tinued)
Sr.
No.
BSE
code
Acquirername
Targetname
Ann
ouncem
ent
Date
Stake
acqu
ired
Target
type
Paym
ent
metho
dCou
ntry
3952
3704
MastekLtd.
VectorInsuranceServices
LLC
16-Jul-07
90Unlisted
Cash
USA
4052
4404
MarksansPh
armaLtd.
Nov
aPh
armaceuticals
Australasia
Pty.
Ltd.
2-Mar-06
60Unlisted
Cash
Australia
4152
4715
SunPh
armaceutical
Indu
stries
Ltd.
CaracoPh
armaceutical
LaboratoriesLtd.
3-Feb-04
60Listed
Cash
USA
4252
4715
SunPh
armaceutical
Indu
stries
Ltd.
TaroPh
armaceutical
21-M
ay-07
51Listed
Cash
Israel
4352
4735
Hikal
Ltd.
Marsing
&CoLtd.A/S
6-Sep-04
50.1
Priv.
Cash
Denmark
4452
4816
Natco
PharmaLtd.
Nicks
Drugs
31-Jan-06
65Priv.
Cash
United
States
4552
6015
Kem
rock
Indu
stries
&Exp
orts
Ltd.
Top
Glass
Spa.
11-Feb-08
51Unlisted
Cash
Itlay
4652
6109
Pricol
Ltd.
Mellin
gdo
Brasil
Com
ponentes
12-D
ec-14
99.99
Priv.
Cash
Brazil
4752
6881
FinancialTechn
olog
ies(Ind
ia)
Ltd.
ICX
Platform
(Pty.)Ltd.
10-A
pr-08
90Unlisted
Cash
South
Africa
4853
0019
Jubilant
Organosys
Ltd.
Trinity
Laboratories,Inc.
1-Jul-05
Unlisted
Cash
USA
4953
0079
Faze
Three
Ltd.
Pana
Textil
Gmbh
13-N
ov-07
76Unlisted
Cash
Germany
5053
0239
SuvenPh
armaceuticals
Syntho
nChiragenics
Corp
20-M
ay-03
51Unlisted
Cash
USA
5153
0703
Info-D
rive
SoftwareLtd.
Techn
oprism
Inc.
25-A
ug-08
51Unlisted
Cash
USA
5253
0707
Aftek
InfosysLtd.
V-SoftInc.
29-A
ug-05
51Unlisted
Cash
USA
5353
1642
MaricoLtd.
Sund
ariLLC
26-Feb-03
70.5
Unlisted
Cash
USA
5453
1897
Accentia
Techn
olog
iesLtd.
Oak
Techn
olog
iesInc.
1-Apr-08
51Unlisted
Cash
USA (con
tinued)
216 Appendix C: Sample Companies in Event Study …
(con
tinued)
Sr.
No.
BSE
code
Acquirername
Targetname
Ann
ouncem
ent
Date
Stake
acqu
ired
Target
type
Paym
ent
metho
dCou
ntry
5553
2221
Sonata
SoftwareLtd.
TUIInfoTec
GmbH
27-Sep-06
51Listed
Cash
Germany
5653
2281
HCLTechn
olog
iesLtd.
Aalayance
Inc.
17-D
ec-04
51Unlisted
Cash
USA
5753
2296
Glenm
arkPh
armaceuticalsLtd.
Medicam
enta
A.S
26-M
ar-07
90Unlisted
Cash
Czech
Repub
lic
5853
2296
Glenm
arkPh
armaceuticalsLtd.
Servycal
SA26
-Oct-05
51Su
b.Cash
Argentin
a
5953
2341
Log
ixMicrosystem
sLtd.
AOA
IzmoLLC
USA
5-Jan-08
51Priv.
Stock,
cash
United
States
6053
2347
Helios&
MathesonInform
ation
Techn
olog
yLtd.
The
ACon
sulting
Team
Inc.,
NY
3-Apr-06
51Listed
Cash
USA
6153
2386
CaliforniaSo
ftwareCo.
Ltd.
CODEX
Co.
Ltd.
28-Jul-06
66Unlisted
Cash
Japan
6253
2408
MegasoftLtd.
BostonCom
mun
ications
Group
Inc.
11-Jul-07
51Listed
Cash
USA
6353
2424
God
rejCon
sumer
Prod
uctsLtd.
Darlin
gGroup
Holding
s1-Jun-11
51Priv.
Cash
Nigeria
6453
2424
God
rejCon
sumer
Prod
uctsLtd.
FrikaHair(Pty)Ltd.
6-Jan-15
60Priv.
Cash
South
Africa
6553
2466
OracleFinancialServices
SoftwareLtd.
CastekSo
ftwareInc.
19-A
ug-05
51Unlisted
Cash
Canada
6653
2523
BioconLtd.
AxiCorpGmbH
11-Feb-08
70Unlisted
Cash
Germany
6753
2526
Dishm
anPh
arma&
Chem
Ltd.
I03S
Ltd.(IO3S
)19
-Dec-05
51Listed
Cash,
optio
nSw
itzerland
6853
2531
StridesArcolab
Ltd.
Bioph
arma
1-Jun-05
60Unlisted
Cash
Venezuela
6953
2540
TataCon
sultancyServices
Ltd.
TKS-Tekno
softSA
31-O
ct-06
75Unlisted
Cash
Switzerland
7053
2605
JBM
AutoLtd.
Thy
ssenKrupp
JBM
PvtLtd.
17-A
pr-09
73.89
Priv.
Cash
UK
7153
2656
FacorAllo
ysLtd.
Dillenbu
rgBergenNHRealty
BV
5-Mar-13
51Priv.
CASH
ONetherlands
(con
tinued)
Appendix C: Sample Companies in Event Study … 217
(con
tinued)
Sr.
No.
BSE
code
Acquirername
Targetname
Ann
ouncem
ent
Date
Stake
acqu
ired
Target
type
Paym
ent
metho
dCou
ntry
7253
2668
AurionP
roSo
lutio
nsLtd.
E2E
Infotech
Ltd.
25-A
pr-07
51Su
b.Stock
United
Kingd
om
7353
2678
Bom
bayRayon
Fashions
Ltd.
DPJ
ClothingLtd.
23-Feb-07
70Unlisted
Cash
UK
7453
2696
Edu
compSo
lutio
nsLtd.
SaviccaInc.
18-Sep-07
70.05
Unlisted
Cash
Canada
7553
2696
Edu
compSo
lutio
nsLtd.
Learning.com
20-M
ay-08
51Unlisted
Cash
USA
7653
2715
GitanjaliGem
sLtd.
Tri-StarWorldwideInc.
14-Feb-07
70Priv.
Cash
United
States
7753
2715
GitanjaliGem
sLtd.
GianttiItalia
S.R.L.
28-D
ec-10
90Priv.
Cash
Itlay
7853
2715
GitanjaliGem
sLtd.
Diamlin
kInc.
(Diamlin
k)New
York
13-Jul-09
51Priv.
Cash
USA
7953
2739
Plethico
PharmaceuticalsLtd.
NatrolInc.
19-N
ov-07
51Listed
Cash
USA
8053
2790
Tanla
Solutio
nsLtd.
Openb
itOy
5-Jun-08
85Priv.
CASH
OFinland
8153
2804
Techn
ocraftIndu
stries(Ind
ia)
SwiftEng
ineering
Inc.
15-A
pr-13
59Priv.
Cash
Canada
8253
2808
PearlGlobalIndu
stries
Lim
ited
SimpleApp
roachLtd.
14-Jan-08
78Unlisted
Cash
Hon
gkon
g
8353
2875
Allied
DigitalServices
Ltd.
EnP
ointeGlobalServices
Llc
9-July-08
80.5
Listed
Cash,
stock
USA
8453
2887
Sujana
Tow
ersLtd.
Telesup
reconLtd.
18-Jun
-08
51Priv.
Cash
Mauritiu
s
8553
3022
20Microns
Ltd.
20Microns
SDN
BHD
17-M
ar-09
99.9
Priv.
Cash
Malaysia
8653
3412
Aanjaneya
LifecareLtd.
ErosPh
armachem
PteLtd.
12-M
ar-12
90Priv.
Cash
Sing
apore
8753
3482
Ready
madeSteelIndiaLtd.
KH
FogesPteLtd.
28-M
ar-12
90Priv.
Cash
Sing
apore
218 Appendix C: Sample Companies in Event Study …
Appendix DSample Companies in Event Study(Domestic Complete Acquisitions)
© Springer Science+Business Media Singapore 2016N. Rani et al., Mergers and Acquisitions, India Studiesin Business and Economics, DOI 10.1007/978-981-10-2203-6
219
Sr.No.
BSE
code
Acquirername
Targetname
Ann
ouncem
ent
date
Targettype
Paym
entmetho
d
150
0002
AB
BLtd.
Ram
anBoardsLtd.
21-D
ec-06
Unlisted
Cash
250
0003
AegisLog
isticsLtd.
Kon
kanStorageSy
stem
s(K
ochi)Pv
t.Ltd.
26-M
ar-07
Unlisted
Cash
350
0009
AmbalalSarabh
aiEnterprises
Ltd.
SuvikHi-Tek
PvtLtd.
17-Sep-08
Unlisted
Cash
450
0024
Assam
Co(India)Ltd.
Dun
canMacneill
Power
18-D
ec-10
Priv.
OTHER
550
0032
Bajaj
Hindu
sthanLtd.
Parashar
Sugars
PvtLtd.
8-Jun-05
Priv.
Cash
650
0067
BlueStar
Ltd.
NaseerElectricalsPv
t.Ltd.
5-Dec-07
Unlisted
Cash
750
0086
Exide
Indu
stries
Ltd.
Caldy
neAutom
aticsLtd.
20-Jul-07
Unlisted
Cash
850
0092
CrisilLtd.
Irevna
ResearchServices
Ltd.
20-O
ct-04
Unlisted
Cash
950
0096
Dabur
IndiaLtd.
Balsara
Hom
eProd
uctsLim
ited
28-Jan-05
Listed
Cash
5000
96Dabur
IndiaLtd.
Besta
CosmeticsLtd.
28-Jan-05
Listed
Cash
1050
0103
BharatHeavy
ElectricalsLtd.
BharatHeavy
PlateandVesselsLtd.
12-M
ay-08
Public
Sector
Und
ertaking
Cash
1150
0125
EID-Parry
(Ind
ia)Ltd.
ParryNutraceuticalsLtd.
19-Jul-06
Unlisted
Cash
1250
0135
Essel
Prop
ackLtd.
PackagingIndiaPv
t.Ltd.
30-A
ug-06
Unlisted
Cash
1350
0179
HC
LInfosystem
sLtd.
Natural
Techn
olog
iesPv
tLtd.(N
TPL
)5-May-08
Unlisted
Cash
1450
0193
Hotel
LeelaventureLtd.
Kov
alam
HotelsLtd.
22-Jul-05
unlisted
Cash
1550
0239
KG
Denim
Ltd.
Trigg
erApp
arelsLtd.
30-Jan-06
Priv.
Cash
1650
0241
Kirloskar
BrothersLtd.
ABAN
Con
structions
PvtLtd.
29-Sep-06
Unlisted
Cash
1750
0241
Kirloskar
BrothersLtd.
Gon
dwanaEng
ineers
Ltd.
10-Sep-07
Unlisted
Cash
1850
0250
LG
Balkrishn
an&
BrosLtd.
Apten
Forgings
PvtLtd.
3-Jul-03
Priv.
cash
1950
0250
LG
Balakrishnan&
BrosLtd.
LGB
Textiles
Ltd.
20-N
ov-04
Priv.
cash
2050
0257
Lup
inLtd.
Lup
inHerbalPv
t13
-Aug
-04
Unlisted
Cash
(con
tinued)
220 Appendix D: Sample Companies in Event Study …
(con
tinued)
Sr.No.
BSE
code
Acquirername
Targetname
Ann
ouncem
ent
date
Targettype
Paym
entmetho
d
2150
0257
Lup
inLtd.
Rub
amin
LaboratoriesLtd.
27-09-07
Unlisted
Cash
2250
0300
Grasim
Indu
stries
Ltd.
HarishCem
entLtd.
7-Sep-06
Unlisted
Cash
2350
0302
Piramal
Health
care
Ltd.
Health
LinePv
t.Ltd.
22-Jan-08
Unlisted
Cash
2450
0303
AdityaBirla
Nuv
oLtd.
TransWorks
Inform
ationServices
Pvt
21-Jun
-03
Unlisted
Cash
2550
0329
Pentam
edia
Graph
icsLtd.
Inteliv
isionLtd.
25-A
ug-03
Unlisted
Stock
2650
0339
RainCom
mod
ities
Ltd.
RainCalcining
Ltd.
20-M
ar-07
Public
SHARES
2750
0350
Rajasthan
Spinning
&Weaving
Mordi
Textiles
&Processors
21-M
ar-05
Priv.
SHARES
2850
0354
RajshreeSu
gars
&Chemicals
Ltd.
Trident
Sugars
Ltd.
21-A
pr-06
Listed
Cash
2950
0368
Ruchi
Soya
Inds.Ltd.
Aneja
Solvex
Ltd.
7-Jan-04
Unlisted
Cash
3050
0400
TataPo
wer
Co.
Ltd.
Dun
cans
North
Hyd
roPo
wer
Com
pany
Ltd.
16-D
ec-03
Unlisted
Cash
3150
0413
Tho
mas
Coo
k(Ind
ia)Ltd.
TravelCorpo
ratio
n(Ind
ia)Ltd.
1-Dec-06
Unlisted
Cash
3250
0470
TataSteelLtd.
Raw
met
Ferrou
sInds.Pv
t.Ltd.
16-Jan-07
Unlisted
Cash
3350
0470
TataSteelLtd.
Indian
Steel&
WireProd
uctsLtd.
23-D
ec-03
Unlisted
Cash
3450
0483
TataCom
mun
ications
Ltd.
Dishn
etDSL
Ltd-Broadband
Bus
19-M
ar-03
Unlisted
Cash
3550
0483
TataCom
mun
ications
Ltd.
DirectInternet
Ltd.
8-May-06
Unlisted
Cash
5004
83TataCom
mun
ications
Ltd.
Prim
usTelecom
mun
ications
IndiaLtd.
(PTIL)
8-May-06
Unlisted
Cash
5004
83TataCom
mun
ications
Ltd.
TataPo
wer
Broadband
CoLtd.
5-Sep-06
Unlisted
Cash
5005
10Larsen&
Tou
broLtd.
Spectrum
Infotech
Pvt.Ltd.
3-Feb-06
Unlisted
Cash
3850
0520
Mahindra&
MahindraLtd.
PlexionTechn
olog
ies(Ind
ia)Ltd.
(Plexion
)12
-Dec-05
Unlisted
Cash
(con
tinued)
Appendix D: Sample Companies in Event Study … 221
(con
tinued)
Sr.No.
BSE
code
Acquirername
Targetname
Ann
ouncem
ent
date
Targettype
Paym
entmetho
d
3950
0550
Siem
ensLtd.
Siem
ensBuildingTechn
olog
iesPv
t.Ltd.
20-Feb-03
Unlisted
Cash
4050
0550
Siem
ensLtd.
Siem
ensPu
blic
Com
mun
ication
Networks
Pvt.Ltd.
15-Feb-05
Unlisted
Cash
4150
0645
DeepakFertilisers
&PetrochemicalsCorpn
.Ltd.
Smartchem
Techn
olog
iesLtd.
24-O
ct-03
Listed
Cash
4250
0730
NocilLtd.
Sushripada
PlasticsPv
t.Ltd.
22-Feb-07
Unlisted
Cash
4350
0780
ZuariIndu
stries
Ltd.
AnilKum
arM
NDevelop
ersPv
t26
-Dec-07
Priv.
OTHER
4450
1425
Bom
bayBurmah
Trdg.
Corpn
.Ltd.
ElectromagsAutom
otiveProd
uctsPv
t.Ltd.
15-D
ec-06
Unlisted
Cash
4550
1833
Cho
wgu
leSteamshipsLtd.
Docky
ardPv
tLtd.
17-O
ct-06
Unlisted
Cash
4650
2937
Kesoram
Indu
stries
Ltd.
Assam
CottonMillsLtd.
16-Sep-06
Unlisted
Cash
4750
3015
Mod
ernIndiaLtd.
Mod
ernIndiaRealty
&Infrastructures
Ltd.
2-Jul-07
Unlisted
Cash
4850
3100
PhoenixMillsLtd.
Big
App
leRealEstatePv
t.Ltd.
1-Apr-08
Private
Cash
4950
3205
ShreeRam
MillsLtd.
Raghu
veer
Urban
Infrastructure
18-M
ar-09
Priv.
OTHER
5050
3205
ShreeRam
Urban
Infrastructure
ShreeRam
Realin
fraVentures
26-M
ar-10
Sub.
OTHER
5150
3699
GeodesicLtd.
Picopeta
Simpu
ters
Pvt.Ltd.
24-N
ov-05
Unlisted
Cash
5250
4067
ZensarTechn
olog
iesLtd.
OBTGlobalPv
tLtd.
13-D
ec-05
Priv.
Cash
5350
5872
WPILLtd.
Mod
yIndu
stries(FC)Pvt
Ltd.
28-M
ar-13
Priv.
cash
5450
6142
VyaparIndu
stries
Ltd.
Escoteric
RealityPv
tLtd.
7-Jul-08
Priv.
cash
5550
6186
GalaxyEntertainmentCorpn
.Ltd.
CeezeeFo
odsPrivateLtd.
7-May-04
Unlisted
Cash
5650
6197
BlissG
VSPh
armaLtd.
GV
SLaboratoriesPv
t.Ltd.
15-Feb-07
Unlisted
Cash
(con
tinued)
222 Appendix D: Sample Companies in Event Study …
(con
tinued)
Sr.No.
BSE
code
Acquirername
Targetname
Ann
ouncem
ent
date
Targettype
Paym
entmetho
d
5750
6390
ClariantC
hemicals(Ind
ia)Ltd.
ChemtreatCom
positesIndiaPv
t.Ltd.
14-Feb-06
Unlisted
Cash
5850
6390
ClariantC
hemicals(Ind
ia)Ltd.
Plastichemix
Indu
stries
16-D
ec-13
Priv.
Cash
5950
6559
Siem
ensHealth
care
Diagn
osticsLtd.
DadeBehring
Diagn
osticsIndiaPv
t.Ltd.
31-Jul-07
Unlisted
Cash
6050
6618
Punjab
Chemicals&
Crop
Protectio
nLtd.
IA&
ICChem
PvtLtd.
27-Feb-06
Priv.
Cash
6150
7205
Tilakn
agar
Indu
stries
Ltd.
Punjab
Exp
oBreveries
PvtLtd.
4-Oct-11
Priv.
Cash
6250
7685
Wipro
Ltd.
Citi
Techn
olog
yServices
23-D
ec-08
Unlisted
Cash
6350
7856
Uniprod
ucts(Ind
ia)Ltd.
HPPelzer
IndiaPv
tLtd.
27-Jan-03
Private
Cash
6450
8869
Apo
lloHospitalsEnterprise
Ltd.
Samud
raHealth
care
Enterprises
Ltd.
4-Nov
-05
Unlisted
Cash
6550
8869
Apo
lloHospitalsEnterprise
Ltd.
Nov
aSp
ecialty
SurgeryPv
tLtd.
6-Jan-15
Sub.
CASH
O
6650
9557
Garware-WallRop
esLtd.
GarwareEnv
iSv
csPv
tLtd.
9-Apr-08
Priv.
Cash
6751
1525
PAN
IndiaCorpLtd.
ShalaniDho
opPv
tLtd.
21-N
ov-08
Priv.
Cash
6851
1658
Nettlinx
Ltd.
Nettlinx
Realty
PvtLtd.
27-O
ct-06
Unlisted
Cash
6951
2070
UnitedPh
osph
orus
Ltd.
SW
ALCorpo
ratio
nLtd.
29-Jun
-05
Unlisted
Cash
7051
2093
CranesSo
ftwareIntl.
Ltd.
TilakAutotechPv
t.Ltd.
19-Jun
-07
Unlisted
Cash
7151
2233
Jayb
haratTextiles
&Real
EstateLtd.
RealTim
eProp
ertiesLtd.
2-Mar-07
Unlisted
Cash
7251
2267
Media
MatrixWorldwideLtd.
Prox
imus
Kno
wledg
e&
Techn
Services
Pvt.Ltd.
22-O
ct-07
Unlisted
Cash
7351
2529
Sequ
entScientificLtd.
Elix
irChemicalsPv
t.Ltd.
20-A
pr-06
Unlisted
Cash
7451
3121
OriconEnterprises
Ltd.
USLAutoServices
Ltd.
3-May-06
Unlisted
Cash
(con
tinued)
Appendix D: Sample Companies in Event Study … 223
(con
tinued)
Sr.No.
BSE
code
Acquirername
Targetname
Ann
ouncem
ent
date
Targettype
Paym
entmetho
d
7551
3333
Bhu
walka
SteelIndu
stries
Ltd.
BenakaSp
onge
Iron
PvtLtd.
26-Feb-08
Priv.
CASH
O
7651
3349
Ajm
eraRealty
&InfraIndia
Ltd.
Jolly
BrothersPv
t.Ltd.
31-O
ct-06
Unlisted
Cash
7751
3414
Sujana
Metal
Prod
uctsLtd.
Glade
steels,Sree
Ganga
Steels
30-M
ay-08
Unlisted
Cash
7851
3536
Lesha
EnergyResou
rces
Ltd.
GorlasOil&
Gas
PvtLtd.
19-M
ar-09
Priv.
SHARES
7951
3583
SB
&TInternationalLtd.
Mim
ansa
Jewellery
Pvt.Ltd.
13-O
ct-05
Unlisted
Preferentialissues
8051
4043
Him
atsing
kaSeideLtd.
ABCTrading
Pvt.Ltd.
28-Jan-03
Unlisted
Cash
8151
4300
Pion
eerEmbroideries
Ltd.
Mas
Embroideries
Pvt.Ltd.
3-Apr-06
Unlisted
Cash
8251
5055
Anant
Raj
Indu
stries
Ltd.
Jubilant
SoftwareService
3-Sep-10
Priv.
Cash
8351
5055
Anant
Raj
Indu
stries
Ltd.
Aakarshak
Realators
PvtLtd.
13-O
ct-10
Priv.
Cash
8451
6022
Star
PaperMillsLtd.
Pallm
allEdu
system
s&
Medicare
Services
Pvt.Ltd.
6-Sep-07
Unlisted
Cash
8551
7035
Ruttonsha
IntlRectifi
erLtd.
OrientSemicon
ductorsPv
tLtd.
19-Jan-08
Priv.
PSh
ares
8651
7546
AlfaTransform
ersLtd.
PHOENIX
SURGICAREPV
TLTD.
11-N
ov-08
Unlisted
Cash
8751
7973
DMC
InternationalLtd.
VsoftServices
PvtLtd.
16-M
ar-10
Priv.
SHARES+
Cash
8851
8091
AnjaniPo
rtland
Cem
entLtd.
Hitech
PrintSy
stem
sLtd.
4-Aug
-07
Priv.
Cash
8951
9602
Kellto
nTechSo
lutio
nsLtd.
Skan
Dby
dxSo
ftwarePv
tLtd.
27-D
ec-12
Priv.
Cash
9052
1194
SILInvestmentsLtd.
SutlejTextiles
&Indu
stries
22-A
ug-05
Sub.
Shares
9152
2207
RasandikEng
ineering
Inds.
IndiaLtd.
RasandikAutoCom
ponentsPv
t.Ltd.
30-Jul-06
Unlisted
Cash
9252
2261
Dolph
inOffshoreEnterprises
(Ind
ia)Ltd.
Procyo
nOffshoreServices
Ltd.
27-Jun
-06
Unlisted
Cash
9352
3277
GV
Film
sLtd.
Thang
amTheatre
15-M
ay-06
Priv.
Cash
(con
tinued)
224 Appendix D: Sample Companies in Event Study …
(con
tinued)
Sr.No.
BSE
code
Acquirername
Targetname
Ann
ouncem
ent
date
Targettype
Paym
entmetho
d
9452
3323
Kov
aiMedical
Center&
HospitalLtd.
Idhayam
HospitalsErode
Ltd.
21-M
ar-07
Unlisted
Cash
9552
3387
TritonCorpLtd.
Maple
Esolutio
nsLtd.
26-D
ec-06
Unlisted
Cash
9652
3574
Future
RetailLtd.
Officedg
eIndiaPv
tLtd.
16-Jan-07
Priv.
Cash
9752
3628
Podd
arDevelop
ersLtd.
Gop
iResortsPv
t.Ltd.
21-Feb-07
Unlisted
Cash
9852
3704
MastekLtd.
Keyston
eSo
lutio
nsPv
tLtd.
5-Sep-09
Priv.
Cash
9952
4388
Crazy
Infotech
Ltd.
Animantz
CreativeAnimatorsPv
t.Ltd.
8-Sep-08
Unlisted
Cash,
preferential
shares
100
5246
10Rathi
Graph
icTechn
olog
ies
Ltd.
Rathi
Rajasthan
SteelMillsLtd.
24-Sep-07
Unlisted
Cash
101
5246
69HesterBiosciences
Ltd.
Gujarat
Agrofarm
Ltd.
20-N
ov-14
Priv.
Cash
102
5247
15Su
nPh
armaceutical
Inds
Ltd.
Ranbaxy
LaboratoriesLtd.
7-Apr-14
Public
SHARES
103
5260
25Globu
sPo
wer
GenerationLtd.
Globu
sSo
larPo
wer
PvtLtd.
15-Sep-15
Priv.
Cash
104
5262
17Hi-TechPlastCon
tainersLtd.
Plastic
&PrecisionMachinefabrik
Ltd.
10-M
ar-03
Priv.
Cash
105
5264
09Kalpena
Indu
stries
Ltd.
Bavaria
AssociatesPv
t.Ltd.
3-Dec-07
Unlisted
Cash
106
5264
09Kalpena
Indu
stries
Ltd.
Kalpana
PlasticsPv
tLtd.
23-M
ar-05
Private
Stock
107
5266
10VansInform
ationLtd.
Inho
useCreations
PvtLtd.
27-Jan-06
Priv.
Com
binatio
n(Shares,PS
,Cash)
108
5267
23RDB
Indu
stries
Ltd.
RDBRealty
&Infrastructure
8-Apr-09
Public
Cash
109
5268
29Con
fidencePetroleum
India
Ltd.
Agw
anCoach
Pvt.Ltd.
13-M
ar-08
Unlisted
Cash
110
5268
71IntecCapitalLtd.
Amulet
Techn
olog
iesPv
tLtd.
12-M
ar-12
Priv.
Cash
111
5269
17CHD
Develop
ersLtd.
Delight
Spirits
PvtLtd.
1-Oct-13
Priv.
Cash
112
5300
49JJ
Exp
orters
Ltd.
PoojaCreations
Ltd.
14-Jun
-05
Unlisted
Stock
(con
tinued)
Appendix D: Sample Companies in Event Study … 225
(con
tinued)
Sr.No.
BSE
code
Acquirername
Targetname
Ann
ouncem
ent
date
Targettype
Paym
entmetho
d
113
5300
91Zyd
enGentecLtd.
Sree
VenkateshwaraMedichem
8-Aug
-05
Priv.
Cash
114
5301
39Kreon
Finn
ancial
Services
Ltd.
Krios
Media
Venture
PvtLtd.
26-D
ec-12
Priv.
Cash
115
5304
07EpicEnergyLtd.
SathianSu
nPo
wer
System
s16
-Jul-08
Priv.
OTHER
116
5307
73IV
RCLInfrastructures&
ProjectsLtd.
Alkor
Petroo
Ltd.
12-N
ov-07
Unlisted
Cash
117
5309
77Sh
riKeshavCem
ents&
Infra
Ltd.
KatwaCon
structionCo.
Ltd.
16-A
ug-07
Unlisted
Cash
118
5312
41LincPen&
PlasticsLtd.
ShreeWritin
gAidsPv
tLtd.
7-Apr-08
Priv.
Stock
119
5312
69K
LG
Systel
Ltd.
FirstPo
wer
Utilities
DistributionLtd.
23-Feb-04
Unlisted
Cash
120
5313
66Koh
inoo
rBroadcastingCorpn
.Ltd.
TagoreTheatresLtd.
7-Jan-08
Unlisted
Cash
121
5314
04Zicom
ElectronicSecurity
System
sLtd.
Zicom
GlobalSecurity
PvtLtd.
2-Jul-07
Unlisted
Stock
122
5315
08EvereadyIndu
stries
(Ind
ia)
Ltd.
BPL
SoftEnergySy
stem
sLtd.
19-Sep-05
Unlisted
Cash
123
5315
44VertexSp
inning
Ltd.
Green
Cottage
&ResortsLtd.
12-D
ec-06
Unlisted
Cash
124
5315
90Bilp
ower
Ltd.
Tarapur
Transform
ersPv
t.Ltd.
29-N
ov-06
Unlisted
Cash
125
5316
15Era
E-Zon
eIndiaLtd.
Era
Buildwell(India)Ltd.
27-M
ar-09
Priv.
Cash
126
5318
16Pano
ramic
Universal
Ltd.
Rishi
GardenResortPv
tLtd.
26-M
ar-08
Priv.
OTHER
127
5318
97Accentia
Techn
olog
iesLtd.
Asscent
InfoservePv
tLtd.
26-M
ar-07
Priv.
Con
vertibles
128
5318
98Sang
uine
Media
Ltd.
God
avariAds
Pvt.Ltd.
12-Sep-06
Unlisted
Cash,
stock
129
5318
98Sang
uine
Media
Ltd.
Roh
inie
Media
24-N
ov-06
Priv.
Cash
130
5321
75Infotech
Enterprises
Ltd.
TeleAtlasIndiaPv
t.Ltd.
24-M
ar-05
Unlisted
Cash,
stock
131
5321
75Infotech
Enterprises
Ltd.
TTM
(Ind
ia)Pv
t.Ltd.
8-Sep-08
Unlisted
Cash
(con
tinued)
226 Appendix D: Sample Companies in Event Study …
(con
tinued)
Sr.No.
BSE
code
Acquirername
Targetname
Ann
ouncem
ent
date
Targettype
Paym
entmetho
d
132
5321
84CibaIndiaLtd.
Diamon
dDye
Chem
18-A
ug-03
Unlisted
Cash
133
5322
19EnergyDevelop
mentCoLtd.
DhanashreePo
wer
ProjectsLtd.
20-M
ay-09
Priv.
Cash
134
5322
54Po
larisSo
ftwareLab
Ltd.
SFLProp
ertiesPv
tLtd.
2-Dec-10
Priv.
Cash
135
5322
68KaleCon
sultantsLtd.
Cog
nosysSo
ftwarePrivateLim
ited/Kale
Etravel
Techn
olog
iesLtd.
23-O
ct-03
Unlisted
Cash
136
5322
87Entegra
Ltd.
PSCEng
ineers
PvtLtd.
19-D
ec-07
Unlisted
Cash
137
5323
00Wockh
ardt
Ltd.
Dum
exIndiaPv
t.Ltd.
30-Jun
-06
Unlisted
Cash
137
5323
07Melstar
Info
TechLtd.
Melstar
Fashions
PvtLtd.
28-M
ar-06
Priv.
Stock
137
5323
07Melstar
Info
TechLtd.
iDV
TechSo
lutio
nsPv
tLtd.
23-D
ec-15
Private
Cash
137
5323
55Telepho
toEntertainments
Ltd.
AGSProp
ertiesDevelop
ment
3-Mar-06
Unlisted
Cash
137
5323
75TipsIndu
stries
Lim
ited
TipsFilm
sLtd.
23-N
ov-05
Sub.
OTHER
137
5323
85AztecsoftLtd.
Disha
Techn
olog
ies(Ind
ia)Ltd.
20-Sep-04
Unlisted
Cash,
stock
137
5323
86CaliforniaSo
ftwareCoLtd.
Webspectrum
SoftwareLtd.
22-D
ec-04
Priv.
Cash
137
5323
91OptoCircuits
(Ind
ia)Ltd.
M/sAltron
Indu
stries
(Pvt)Ltd.
17-Jan-06
Unlisted
Cash
138
5323
91OptoCircuits
(Ind
ia)Ltd.
Devon
Inno
vatio
nsPv
t.Ltd.
24-A
pr-07
Unlisted
Cash
5323
91OptoCircuits
(Ind
ia)Ltd.
Orm
edMedical
Techn
olog
yLtd.
24-A
pr-07
Unlisted
Cash
139
5323
91OptoCircuits(Ind
ia)Ltd.
NSRem
ediesPv
tLtd.
5-Apr-10
Priv.
CASH
O
140
5324
00K
PITCum
minsInfosystem
sLtd.
CG-Smith
SoftwarePv
tLtd.
6-Mar-06
Unlisted
Cash
141
5324
14IK
FSo
ftware.com
Ltd.
Netwatch
DigitalSo
lutio
nsPv
tLtd,
30-Jun
-08
Unlisted
Cash
142
5324
24God
rejCon
sumer
Prod
ucts
Ltd.
Naturesse
Con
sumer
CareProd
3-Dec-10
Priv.
Cash
143
5324
40M
PSLtd.
CharonTechPv
tLtd.
8-Jun-05
Unlisted
Cash
(con
tinued)
Appendix D: Sample Companies in Event Study … 227
(con
tinued)
Sr.No.
BSE
code
Acquirername
Targetname
Ann
ouncem
ent
date
Targettype
Paym
entmetho
d
144
5324
66OracleFinancialServices
SoftwareLtd.
I-Flex
Processing
Services
Ltd.
12-A
pr-06
Unlisted
Cash
145
5324
97RadicoKhaitanLtd.
M/sAnab-e-Sh
ahiWines
&Distilleries
PvtLtd.
5-Apr-04
Priv.
Cash
146
5325
31StridesArcolab
Ltd.
Grand
ixPh
armaceuticalsLtd.
10-A
pr-07
Priv.
UNKNOWN
147
5325
32Jayp
eeFertilizers
&Indu
sLtd.
Dun
cans
FertiliserIndu
stries
17-Jun
-10
Unlisted
Cash
148
5325
40TataCon
sultancyServices
Ltd.
TCSE-Serve
Ltd.
8-Oct-08
Unlisted
Cash
149
5326
12Indo
coRem
ediesLtd.
LaNov
aChem
(Ind
ia)Pv
t.Ltd.
4-Jul-07
Unlisted
Cash
150
5326
12Indo
coRem
ediesLtd.
ShreeHerbalTechn
olog
iesLtd.
29-Jan-08
Unlisted
Cash
151
5326
17JetAirways(Ind
ia)Ltd.
JetLite
(Ind
ia)Ltd.
12-A
pr-07
Unlisted
Cash
152
5326
283I
Infotech
Ltd.
G4So
ftwareTechn
olog
ies(I)Ltd.
5-Sep-06
Unlisted
Cash
153
5326
33Allsec
Techn
olog
iesLtd.
B2K
CorpPv
tLtd.
12-D
ec-05
Priv.
Cash
154
5326
44JK
Cem
entLtd.
Jayk
aycem
Ltd.
29-Jul-06
Priv.
Cash
155
5326
70Sh
reeRenuk
aSu
gars
Ltd.
God
avariBiofuel
Pvt.Ltd.
23-Jul-08
Unlisted
Cash
ShreeRenuk
aSu
gars
Ltd.
Ratnaprabha
Sugars
Ltd.
23-Jul-08
Unlisted
Cash
156
5326
82A
BG
Shipyard
Ltd.
Vipul
Shipyard
24-M
ay-07
Unlisted
Cash
157
5326
89PV
RLtd.
DTCinem
as9-Jun-15
Unlisted
Cash
158
5326
99Roy
alOrchidHotelsLtd.
Hotel
Roy
alOrchidCentral
12-N
ov-07
Priv.
Cash
159
5327
05Jagran
PrakashanLtd.
Suvi
Info
Managem
entPv
tLtd.
2-Apr-12
Priv.
Cash
160
5327
06Inox
Leisure
Ltd.
Calcutta
CinePrivateLim
ited
24-Jun
-06
Priv.
Stock
161
5327
06Inox
Leisure
Ltd.
Satyam
CineplexesLtd.
31-Jul-14
Unlisted
Cash
162
5327
06Inox
Leisure
Ltd.
Multip
lexCinem
aTheatre(3)
1-Sep-15
Priv.
Cash
163
5327
08G
VK
Power
&Infrastructure
Ltd.
GV
KAviationPv
t.Ltd.
21-Jun
-07
Unlisted
Cash
(con
tinued)
228 Appendix D: Sample Companies in Event Study …
(con
tinued)
Sr.No.
BSE
code
Acquirername
Targetname
Ann
ouncem
ent
date
Targettype
Paym
entmetho
d
164
5327
08G
VK
Power
&Infrastructure
Ltd.
GV
KEnergyLtd.
9-May-08
Unlisted
Cash
165
5327
08GVK
Power
&Infrastructure
Ltd.
GVK
InfratechPv
tLtd.
6-Jul-07
Priv.
Cash
166
5327
15GitanjaliGem
sLtd.
EurekaFinstock
Pvt.Ltd.
10-Jun
-08
Unlisted
Cash
GitanjaliGem
sLtd.
DecentSecurities&
FinancePv
t.Ltd.
10-Jun
-08
Unlisted
Cash
167
5327
15GitanjaliGem
sLtd.
DesireLifestyle
PvtLtd.
25-Jul-06
Priv.
Cash
168
5327
15GitanjaliGem
sLtd.
Brigh
testCircleJewellery
Pvt
7-Jan-08
Priv.
Cash
169
5327
15GitanjaliGem
sLtd.
Renaissance
RetailVenture
Pvt
10-M
ar-08
Priv.
Cash
170
5327
15GitanjaliGem
sLtd.
BVijayRet
VenturesPv
tLtd.
24-Jul-08
Priv.
Cash
171
5327
15GitanjaliGem
sLtd.
Nascent
12-D
ec-12
Priv.
Cash
172
5327
15GitanjaliGem
sLtd.
Alliance
Jewelleries
Pvt
6-Oct-09
Priv.
Cash
173
5327
15GitanjaliGem
sLtd.
N&
JFinstocksPv
tLtd.
17-M
ar-11
Priv.
Cash
174
5327
27Adh
unik
MetaliksLtd.
OrissaManganese
&Minerals
9-Apr-07
Unlisted
Cash
175
5327
49Allcargo
GlobalLog
isticsLtd.
Hindu
stan
Cargo
Ltd.
2-Jan-07
Unlisted
Cash
176
5327
49Allcargo
GlobalLog
isticsLtd.
MHTCLog
isticsPrivateLim
ited
25-Feb-11
Unlisted
Cash
177
5327
77Info
Edg
e(Ind
ia)Ltd.
MakeSense
Techn
olog
iesPv
tLtd.
1-Mar-13
Priv.
Cash
178
5327
86Great
OffshoreLtd.
KEI-RSO
SMaritime
2-Sep-08
Unlisted
Cash
Great
OffshoreLtd.
Rajam
ahendriSh
ipping
&Oilfi
eld
Services
Ltd.
2-Sep-08
Unlisted
Cash
179
5328
30AstralPo
lyTechn
ikLtd.
AstralBiochem
Pvt.Ltd.
22-Sep-08
Unlisted
cash
180
5328
68DLFCyb
erCity
Develop
ers
Ltd.
Caraf
Builders&
Con
structions
16-D
ec-09
Priv.
Stock
181
5328
76Everonn
System
sIndiaLtd.
Top
pers
TutorialPv
tLtd.
11-Feb-08
Priv.
Cash
(con
tinued)
Appendix D: Sample Companies in Event Study … 229
(con
tinued)
Sr.No.
BSE
code
Acquirername
Targetname
Ann
ouncem
ent
date
Targettype
Paym
entmetho
d
182
5328
80OmaxeLtd.
GoldenPeak
Tow
nshipPv
t.Ltd.
14-O
ct-08
Unlisted
cash
183
5328
80OmaxeLtd.
OasisTow
nshipPv
tLtd.
27-A
pr-09
Priv.
Cash
184
5329
26Jyothy
LaboratoriesLtd.
Snow
ays
10-M
ar-09
Priv.
Cash
185
5329
26Jyothy
LaboratoriesLtd.
Diamon
dFabcarePrivateLtd.
22-M
ar-11
Priv.
Cash
186
5329
29Brigade
Enterprises
Ltd.
Brook
eBon
dREsPv
tLtd.
23-M
ar-15
Sub./Pvt
Cash
187
5330
55EdS
ervSo
ftsystem
sLtd.
SmartLearn
TelcompPv
tLtd.
2-Mar-10
Priv.
Cash
188
5331
60DB
Realty
Ltd.
L&TBom
bayDevelop
ersPv
tLtd.
15-Sep-10
Priv.
Cash
189
5331
68RossellIndiaLtd.
Nam
sang
Tea
Estate
20-A
pr-12
Priv.
Cash
190
5331
68RossellIndiaLtd.
Kharikatia
Tea
Estate
7-Dec-12
Priv.
Cash
191
5332
60CareerPo
intInfraLtd.
Cou
pler
Enterprises
PvtLtd.
10-Jul-13
Priv.
Cash
192
5333
09Dalmia
BharatLtd.
Adh
unik
Cem
entLtd.
28-Sep-12
Sub.
UNKNOWN
193
5333
17OmkarSp
ecialityChemicals
Ltd.
LasaLaboratoryPv
tLtd.
7-Apr-12
Unlisted
Cash
193
5900
01ChettinadCem
entCorpn
.Ltd.
Valliammai
Lim
esPv
t.Ltd.
17-Jan-06
Unlisted
Cash
ChettinadCem
entCorpn
.Ltd.
Alagapp
aCem
entsPv
t.Ltd.
17-Jan-06
Unlisted
Cash
194
5900
34Sh
aron
Bio-M
edicineLtd.
Ston
ewoo
dCem
-Fab
(Ind
ia)Pv
t.Ltd.
19-O
ct-07
Unlisted
cash
195
5900
51SaksoftLtd.
Synetairos
Techn
olog
iesLtd.
2-Jul-11
Unlisted
Cash
230 Appendix D: Sample Companies in Event Study …
Appendix ESample Companies in Event Study(Domestic Partial/ Majority ControlAcquisitions)
© Springer Science+Business Media Singapore 2016N. Rani et al., Mergers and Acquisitions, India Studiesin Business and Economics, DOI 10.1007/978-981-10-2203-6
231
Sr.No
BSE
code
Acquirername
Targetname
Ann
ouncem
ent
date
Stake
acqu
ired
Target
type
Paym
entmetho
d
150
0003
AegisLog
isticsLtd.
SealordCon
tainersLtd.
3-Mar-06
75Listed
Cash
250
0032
Bajaj
Hindu
sthanLtd.
Pratappu
rSu
garandIndu
stries
Lt
30-A
ug-05
55Listed
Cash
350
0084
CESC
Ltd.
Dhariwal
Infrastructure
Ltd.
28-A
ug-09
51Su
b.UNKNOWN
450
0086
Exide
Indu
stries
Ltd.
Leadage
Allo
ysIndiaLtd.
18-Jun
-08
51Unlisted
Cash
550
0093
Crompton
Greaves
Ltd.
Malanpu
rCaptiv
ePo
wer
Ltd.
2-Jun-06
59Unlisted
Cash
650
0096
Dabur
IndiaLtd.
Fem
CarePh
armaLtd.
21-N
ov-08
67.33
Listed
Cash
750
0125
EID-Parry
(Ind
ia)Ltd.
EastIndiaSu
gars
PvtLtd.
29-M
ar-04
95Unlisted
Cash
850
0125
EID-Parry
(Ind
ia)Ltd.
Phytorem
ediesBiolabs
Pvt.Ltd.
14-Feb-08
51Unlisted
Cash
950
0201
IndiaGlycolsLtd.
Shakum
bariSu
gar&
Allied
Inds
16-D
ec-07
96.56
Unlisted
Cash
1050
0233
Kajaria
Ceram
icsLtd.
Soriso
Ceram
icPv
tLtd.
25-Feb-11
51Priv.
CASH
O
1150
0251
Trent
Ltd.
Landm
arkCom
mercial
Pvt.Ltd.
30-A
ug-05
70Unlisted
Cash
1250
0325
RelianceIndu
stries
Ltd.
Network18
Media
&Investments
29-M
ay-14
71.29
Public
CASH
O
1350
0338
Prism
Cem
entLtd.
SmallTilesPv
tLtd.
22-N
ov-11
50Priv.
OTHER
1450
0350
Rajasthan
Spinning
&Weaving
Jaipur
Polyspin
Ltd.
10-N
ov-04
59.32
Public
CASH
O
1550
0370
Salora
InternationalLtd.
Jado
onet
Ltd.
6-Mar-03
98.3
Unlisted
Stock
1650
0400
TataPo
wer
Co.
Ltd.
Indu
strial
EnergyPv
tLtd.
26-Feb-07
70Unlisted
Stock
1750
0405
Suprem
ePetrochem
Ltd.
SHIN
HO
Petrochm
icals(India)
20-M
ar-06
55Listed
Cash
1850
0410
AssociatedCem
entCos
Ltd.
IDCOLCem
entLtd.
22-D
ec-03
86.79
Unlisted
Cash
1950
0425
Ambu
jaCem
entsLtd.
DirkIndiaPv
tLtd.
14-Sep-11
60Su
b.CASH
O
2050
0444
WestCoastPaperMills
Ltd.
Ram
aNew
sprint
&Papers
Ltd.
11-Sep-03
57.57
Listed
Stock
2150
0550
Siem
ensLtd.
ImetrexTechn
olog
iesLtd.
23-A
pr-07
77Unlisted
Cash
(con
tinued)
232 Appendix E: Sample Companies in Event Study …
(con
tinued)
Sr.No
BSE
code
Acquirername
Targetname
Ann
ouncem
ent
date
Stake
acqu
ired
Target
type
Paym
entmetho
d
2250
0575
VoltasLtd.
Roh
iniIndu
strial
Electricals
(P)Ltd.
12-A
ug-08
51Unlisted
Cash
2350
0780
ZuariIndu
stries
Ltd.
ZuariInvestmentsLtd.
31-M
ar-09
50J.V.
Cash
2450
0830
Colgate-Palmolive
(Ind
ia)Ltd.
CCHealth
CareProd
uctsPv
t.Ltd.
3-Apr-08
75Unlisted
Cash
2550
0875
ITCLtd.
Classic
Infrastructure
&Dvlp
7-Dec-15
87.06
Private
CASH
O
2650
5368
Revathi
Equ
ipment
Semac
PvtLtd.
8-May-08
70Private
Cash
2750
6197
BlissGvs
PharmaLtd.
Kremoint
PharmaPv
tLtd.
28-Jun
-12
70Priv.
Cash
2850
6248
Amines
&Plasticizers
Ltd.
AdityaInternet
Services
Ltd.
16-M
ay-06
51Unlisted
Cash
2950
6395
Corom
andel
InternationalLtd.
Ficom
OrganicsLtd.
16-M
ar-06
51Listed
Cash
3050
6520
Jayshree
ChemicalsLtd.
EastCoastPo
wersLtd.
3-Apr-08
92.31
Unlisted
Cash
3150
6618
Punjab
Chemicals&
PharmaceuticalsLtd.
Alpha
DrugIndiaLtd.
24-Feb-03
51Listed
Cash
3250
6618
Punjab
Chemicals&
CropProtectio
nLtd.
ParulChemicalsLtd.
29-A
ug-08
70Priv.
Cash
3350
7526
AssociatedAlcoh
ols
VedantEnergyPv
tLtd.
16-A
pr-13
57.45
Priv.
OTHER
3450
7598
KLRFLtd.
EltexSu
perCastin
gsLtd.
2-Dec-05
64.53
Unlisted
Cash
3551
2296
Bhagy
anagar
IndiaLtd.
SolarDyn
amicsPv
tLtd.
5-Jun-12
74Priv.
Cash
3651
2493
GarnetInternationalLtd.
Sukartik
ClothingPv
tLtd.
13-Sep-10
51Priv.
Cash
3751
2634
Savera
Indu
stries
Ltd.
ElkhillAgrotechPv
t.Ltd.
28-A
pr-06
85Private
Cash
3851
3519
Pitti
Lam
inations
Ltd.
Pitti
Castin
gsPv
tLtd.
29-Jun
-12
51Priv.
Cash
3951
7530
Surana
Telecom
&Po
wer
Ltd.
Yellow
Renew
able
Energy(P)Ltd.
5-Oct-11
60Priv.
Cash
(con
tinued)
Appendix E: Sample Companies in Event Study … 233
(con
tinued)
Sr.No
BSE
code
Acquirername
Targetname
Ann
ouncem
ent
date
Stake
acqu
ired
Target
type
Paym
entmetho
d
4051
9457
Virat
Crane
Indu
stries
Ltd.
Durga
Dairy
Ltd.
13-N
ov-06
51Priv.
Cash
4151
9532
Asian
Tea
&Exp
orts
Ltd.
Indo
ngTea
Com
pany
PvtLtd.
17-Sep-14
63.37
Priv.
Cash
4252
0151
ShreyasSh
ipping
&Log
isticsLtd.
Haytrans(Ind
ia)Ltd.
5-Sep-07
51Unlisted
Cash
4352
1153
Pantaloo
nIndu
stries
Ltd.
Indu
s-Leagu
eClothingLtd.
26-Feb-05
68.29
Unlisted
Cash
4452
1180
SuperSp
inning
Mills
Ltd.
ElgiBuildingProd
uctsLtd.
30-M
ar-11
58.32
Priv.
Cash
4552
2059
Champagn
eIndage
Ltd.
Seabucktho
rnIndage
Ltd.
17-Jan-07
52.63
Unlisted
Cash
4652
3160
Morganite
Crucible
(Ind
ia)Ltd.
Diamon
dCrucibleCo.
Pvt.Ltd.
3-Apr-06
51Private
Cash
4752
3574
Pantaloo
nRetail(India)
Ltd.
CIG
Infrastructure
PvtLtd.
28-A
pr-06
51Priv.
Cash
4852
6217
Hitech
PlastLtd.
Mipak
PolymersLtd.
31-M
ay-06
60Unlisted
Cash
4952
6668
Kam
atHotels(Ind
ia)
Ltd.
Con
cept
HospitalityLtd.
5-Dec-07
60Unlisted
Cash
5052
6707
AlchemistLtd.
Valiant
Health
care
Ltd.
26-M
ay-05
60Priv.
CASH
O
5153
0149
KSL
&Indu
stries
Ltd.
Rew
ardMercantile
CoPv
tLtd.
11-Jul-05
75Priv.
Cash
5253
0323
Era
InfraEng
g.Ltd.
Era
E-Zon
eIndiaLtd.
3-Apr-06
51Listed
Cash
5353
0461
Sabo
oSo
dium
Chloro
Ltd.
Fortress
Hotels&
ResortsPv
t.Ltd.
27-Sep-07
75Unlisted
Cash
5453
0627
Vipul
Dye-Chem
Ltd.
ShreeAmbika
NaturalsPv
tLtd.
31-M
ar-11
56Priv.
Cash
5553
0773
IVRCLInfrastructures
&ProjectsLtd.
Hindu
stan
Dorr-Oliv
erLtd.
27-A
pr-05
70Listed
Cash
(con
tinued)
234 Appendix E: Sample Companies in Event Study …
(con
tinued)
Sr.No
BSE
code
Acquirername
Targetname
Ann
ouncem
ent
date
Stake
acqu
ired
Target
type
Paym
entmetho
d
5653
1269
KLG
Systel
Ltd.
AtlantisLab
Pvt.Ltd.
27-A
ug-07
51Unlisted
Cash
5753
1349
PanaceaBiotecLtd.
UmkalMedical
Institu
tePv
t.Ltd.
4-Jul-08
75.2
Unlisted
Cash
5853
1374
Saag
RRInfraLtd.
Techn
iBharathiLtd.
13-Feb-07
60Unlisted
Cash
5953
1794
SeshachalTechn
olog
ies
Ltd.
LabcalBiometricTechn
olog
ies
4-Dec-07
98.57
Priv.
SHARES
6053
1816
Pano
ramic
Universal
Ltd.
SriVatsa
HotelsPv
tLtd.
20-O
ct-08
51Unlisted
Cash
6153
1816
Pano
ramic
Universal
Ltd.
Hi-Flyers
TravelSv
csPv
tLtd.
12-N
ov-07
51Priv.
OTHER
6253
1897
Accentia
Techn
olog
ies
Ltd.
Iridium
Techn
olog
ies(Ind
ia)Pv
t.Ltd.
8-Mar-06
51Unlisted
Stock
6353
2051
Num
eric
Power
System
sLtd.
Amex
Allo
ysPv
tLtd.
6-Dec-10
92Priv.
Cash
6453
2081
KSera
Sera
Prod
uctio
nsLtd.
Lem
onEntertainmentLtd.
4-Dec-06
80Unlisted
Stock
6553
2100
Indo
-City
Infotech
Ltd.
TA
CTechn
osoftPv
t.Ltd.
2-Feb-05
51Unlisted
Cash
6653
2175
Infotech
Enterprises
Ltd.
GeospatialIntegrated
Solutio
nPv
t.Ltd.
15-M
ay-07
74Unlisted
Cash
6753
2219
EnergyDevelop
mentCo
Ltd.
Ayy
appa
Hyd
roPo
wer
Ltd.
30-O
ct-06
60Priv.
Cash
6853
2299
TelevisionEighteen
IndiaLtd.
Infomedia
18Ltd.
12-D
ec-07
51Listed
Cash
6953
2318
Gem
iniCom
mun
ication
Ltd.
VeerasInfotekPv
t.Ltd.
16-Jun
-08
51Unlisted
Cash
7053
2338
ValuemartInfo
Techn
olog
iesLtd.
Tejas
InfoscriptsPv
t.Ltd.
29-A
ug-05
74Unlisted
Cash
(con
tinued)
Appendix E: Sample Companies in Event Study … 235
(con
tinued)
Sr.No
BSE
code
Acquirername
Targetname
Ann
ouncem
ent
date
Stake
acqu
ired
Target
type
Paym
entmetho
d
7153
2338
ValuemartInfo
Techn
olog
iesLtd.
DatatalkServices
(Ind
ia)Pv
t.Ltd.
28-N
ov-07
74Unlisted
Cash
7253
2338
ValuemartInfo
Tech
Ltd.
HVO
Techn
olog
iesLtd.
14-O
ct-05
51Priv.
Cash
7353
2345
GatiLtd.
KausarIndiaLtd.
27-A
ug-07
52.96
Listed
Cash
7453
2357
Muk
taArtsLtd.
Coruscant
Tec
Pvt.Ltd.
19-Sep-08
51Unlisted
Cash
7553
2357
Muk
taArtsLtd.
Red
CarpetFilm
sPv
tLtd.
29-O
ct-07
50.01
Priv.
OTHER
7653
2374
SterliteTechn
olog
ies
Ltd.
SterliteInfrastructure
Pvt.Ltd.
1-Oct-07
58.7
Unlisted
Cash
7753
2386
CaliforniaSo
ftwareCo.
Ltd.
InaTechInfosolutio
nsPv
t.Ltd.
14-Sep-06
51Unlisted
Cash
7853
2386
CaliforniaSo
ftwareCo.
Ltd.
AspireCom
mun
ications
Pvt.Ltd.
22-M
ay-07
58.76
Unlisted
Cash
7953
2399
RelianceMediaworks
Ltd.
SynergyCom
mun
ications
PvtLtd.
7-Sep-06
51Unlisted
Cash
8053
2413
Cerebra
Integrated
Tech
Ltd.
Geeta
Mon
itors
PvtLtd.
13-Jun
-11
51Priv.
Cash
8153
2440
MPSLtd.
FrankBrothers&
Co.
(Pub
lishers)
Ltd.
21-A
ug-07
80Unlisted
Cash
8253
2454
BhartiTeleventuresLtd.
Hexacom
IndiaLim
ited
7-May-04
67.5
Unlisted
optio
nally
conv
ertib
leredeem
able
debentures
8353
2466
OracleFinancial
Services
SoftwareLtd.
FlexcelInternationalPv
t.Ltd.
4-Apr-08
60Unlisted
Cash
8453
2475
AptechLtd.
SynergeticsInform
ationTechn
olog
yServices
(Ind
ia)Pv
t.Ltd.
12-O
ct-06
70Unlisted
Cash
(con
tinued)
236 Appendix E: Sample Companies in Event Study …
(con
tinued)
Sr.No
BSE
code
Acquirername
Targetname
Ann
ouncem
ent
date
Stake
acqu
ired
Target
type
Paym
entmetho
d
8553
2493
Astra
Microwave
Prod
uctsLtd.
Kom
olineElectronics
PvtLtd.
26-Jul-06
70Unlisted
Cash
8653
2494
Micro
Techn
olog
ies
(Ind
ia)Ltd.
DatabyteSv
cs&
SysPv
tLtd.
31-Jan-05
50Unlisted
Cash
8753
2531
StridesArcolab
Ltd.
Medgene
Pharm
PvtLtd.
6-May-05
90Priv.
Cash
8853
2626
Pond
yOxides&
ChemicalsLtd.
Loh
iaMetalsLtd.
16-Jun
-08
51Priv.
Cash
8953
2628
3IInfotech
Ltd.
KNM
Services
PvtLtd.
29-M
ay-07
60Unlisted
Cash
9053
2628
3iInfotech
Ltd.
FinE
ngSo
lutio
nsPv
tLtd.
11-Jun
-08
51Priv.
Cash
9153
2629
Mcnally
BharatEng
g.Co.
Ltd.
SayajiIron
&Eng
ineering
Co.
Ltd.
16-M
ay-08
68.28
Listed
Cash
9253
2640
Cyb
erMedia
IndiaLtd.
CMP-Cyb
erMedia
LLC
4-Apr-08
50Unlisted
Cash
9353
2647
Prov
ogue
(Ind
ia)Ltd.
Sportin
g&
Outdo
orAd-AgencyPv
t.Ltd.
23-Jan-08
51Unlisted
Cash
9453
2670
ShreeRenuk
aSu
gars
Ltd.
KB
KChem-Eng
ineering
Pvt.Ltd.
27-Jul-07
51Unlisted
Cash
9553
2670
ShreeRenuk
aSu
gars
Ltd.
Gok
akSu
gars
Ltd.
23-O
ct-08
80Unlisted
Cash
9653
2683
AIA
Eng
ineering
Ltd.
DCPL
Foun
driesPv
tLtd.
14-D
ec-10
70Priv.
CASH
O
9753
2689
PVRLtd.
Zea
Maize
PvtLtd.
21-A
ug-15
70Priv.
CASH
O
9853
2696
Edu
compSo
lutio
nsLtd.
Autho
rgen
Techn
olog
iesPv
t.Ltd.
17-A
ug-07
51Unlisted
Cash
9953
2696
Edu
compSo
lutio
nsLtd.
ThreeBrixE-SvcsPv
tLtd.
10-A
pr-07
76Unlisted
Cash
100
5326
96Edu
compSo
lutio
nsLtd.
A-PlusEdu
catio
nSo
lutio
nsPv
tLtd.
24-Jul-08
70Priv.
Cash
101
5326
96Edu
compSo
lutio
nsLtd.
EuroK
idsInternationalLtd.
10-Sep-08
50Priv.
Cash
(con
tinued)
Appendix E: Sample Companies in Event Study … 237
(con
tinued)
Sr.No
BSE
code
Acquirername
Targetname
Ann
ouncem
ent
date
Stake
acqu
ired
Target
type
Paym
entmetho
d
102
5326
99Roy
alOrchidHotels
Ltd.
MarutiCom
forts&
InnPv
tLtd.
3-Apr-06
51Priv.
Cash
103
5326
99Roy
alOrchidHotels
Ltd.
Cosmos
Prem
ises
Ltd.
2-Apr-08
50Priv.
Cash
104
5327
15GitanjaliGem
sLtd.
SalasarRetailLtd.
16-D
ec-09
76Priv.
Cash
105
5327
15GitanjaliGem
sLtd.
Mob
ileNXTTeleservicesPv
t.Ltd.
1-Jul-09
70Priv.
Cash
106
5327
25So
larIndu
stries
India
Ltd.
Navbh
arat
Coalfields
Ltd.
12-N
ov-07
74Unlisted
Cash
107
5327
87Ess
Dee
Aluminium
Ltd.
IndiaFo
ilsLtd.
19-N
ov-08
90Listed
Cash
108
5327
91Py
ramid
Saim
iraTheatre
Ltd.
Dim
ples
CineAdv
gPv
tLtd.
28-N
ov-07
51Priv.
Cash
109
5328
04Techn
ocraftIndu
stries
(Ind
ia)
ShreyanInfra&
Power
LLP
27-M
ar-14
90Priv.
Cash
110
5328
32IndiabullsRealEstate
Ltd.
Piramyd
RetailLtd.
8-Dec-07
63.92
Listed
CASH
O
111
5328
34Cam
linFine
Chemicals
Ltd.
Sang
amLaboratoriesPv
tLtd.
25-Feb-08
60Unlisted
Cash
112
5328
48Delta
CorpLtd.
Adv
aniPleasure
CruiseCo
19-Jan-10
50.99
Sub.
OTHER
113
5328
65Meghm
aniO
rganicsLtd.
Latasha
Exp
ortsLtd.
1-Aug
-08
51Priv.
Cash
114
5328
75Allied
DigitalServices
Ltd.
Digicom
pCom
pleteSo
lutio
ns11
-Apr-08
51.05
Priv.
Cash
115
5329
20EmpeeDistilleries
Ltd.
EDLProp
ertiesPv
tLtd.
6-Aug
-08
75Priv.
Cash
116
5329
31Burnp
urCem
entLtd.
Burnp
urNatural
Resou
rces
8-Aug
-08
60Priv.
Cash
117
5329
45Sh
riram
EPC
Ltd.
Blackston
eGroup
Techn
olog
ies
28-A
ug-08
55Priv.
Cash
(con
tinued)
238 Appendix E: Sample Companies in Event Study …
(con
tinued)
Sr.No
BSE
code
Acquirername
Targetname
Ann
ouncem
ent
date
Stake
acqu
ired
Target
type
Paym
entmetho
d
118
5329
46BangOverseasLtd.
ASRaimentPv
tLtd.
4-Jul-12
99.99
Priv.
Cash
119
5332
71Ashok
aBuildconLtd.
VivaInfrastructure
PvtLtd.
2-Apr-12
50Priv.
Cash
120
5332
82Gravita
IndiaLtd.
KM
Udy
ogLtd.
4-Apr-11
60Priv.
Cash
121
5332
82Gravita
IndiaLtd.
Metal
Inc.
12-Jul-11
80Priv.
Cash
122
5333
09Dalmia
BharatLtd.
Bok
aroJayp
eeCem
entLtd.
25-M
ar-14
74Unlisted
CASH
O
123
5347
42ZuariAgroChemicals
Ltd.
ZuariRotem
Speciality
11-D
ec-15
50.00
Private
CASH
O
124
5900
51SaksoftLtd.
ThreesixtyLog
icaTestin
gSv
csPv
tLtd.
1-Jan-15
51Priv.
Cash
125
5901
20Prov
estm
entServices
Ltd.
Saab
Travel&
Tou
rsPv
tLtd.
10-Jan-13
86.03
Priv.
OTHER
Appendix E: Sample Companies in Event Study … 239
Appendix FSample Companies in Event Study(Target Firms Totally Absorbed Withthe Acquirers’ Operations)
BSEcode
Acquirer name Target name Announcementdate
Targettype
Paymentmethod
1 500003 Aegis LogisticsLtd.
Tapi Finvest IndiaPvt Ltd.
2-Sep-08 Priv. Stock
2 500013 Ansal Properties& InfrastructureLtd.
Ansal Township &Projects Ltd.
15-Apr-06 Unlisted Stock
3 500032 Bajaj HindusthanSugar &Industries
Phenil Food Pvt.Ltd.
20-Sep-08 Unlisted Stock
4 500038 Balrampur ChiniMills Ltd.
Khalilabad SugarMills Ltd.
26-Sep-13 Priv. SHARES
5 500039 Banco Products(India)Ltd.
Ganga InvestmentsPvt Ltd.
1-Sep-08 Priv. SHARES
6 500041 Bannari AmmanSugars Ltd.
Maheswara SugarLtd.
27-Jun-07 Unlisted Cash
7 500066 Blow Plast Ltd. VIP Industries Ltd. 9-Mar-06 Listed SHARES
8 500084 C E S C Ltd. Pathik Foods Pvt.Ltd.
17-Apr-07 Unlisted Stock
9 500085 ChambalFertilizers Ltd.
India Steamship Co.Ltd.
16-Sep-04 Listed Stock
10 500097 Dalmia Cement(Bharat)Ltd.
Eswar Cements PvtLtd.
17-Sep-08 Priv. stock
11 500165 Kansai NerolacPaints Ltd.
Polycoat PowdersLtd.
24-Jan-06 Unlisted Stock
(continued)
© Springer Science+Business Media Singapore 2016N. Rani et al., Mergers and Acquisitions, India Studiesin Business and Economics, DOI 10.1007/978-981-10-2203-6
241
(continued)
BSEcode
Acquirer name Target name Announcementdate
Targettype
Paymentmethod
12 500219 Jain IrrigationSystems Ltd.
Terra AgroTechnologies Ltd.
31-May-05 Unlisted Stock
13 500219 Jain IrrigationSystems Ltd.
Orient VegetexpoLtd.
4-Sep-06 Listed Stock
13 500219 Jain IrrigationSystems Ltd.
Eurisko Agro Ltd. 4-Sep-06 Unlisted Stock
14 500228 JindalVijayanagarSteel Ltd.
Jindal Iron Steel Co.Ltd.
21-Oct-03 Listed Cash
500228 JindalVijayanagarSteel Ltd.
Euro Coke &Energy Pvt. Ltd.
9-May-05 Unlisted Stock
500228 JindalVijayanagarSteel Ltd.
J S W Power Ltd. 9-May-05 Unlisted Stock
500228 JindalVijayanagarSteel Ltd.
Euro Ikon Iron SteelPvt. Ltd.
9-May-05 Unlisted Stock
15 500279 Mirc ElectronicsLtd.
Onida Savak Ltd. 6-Apr-05 Listed Stock
16 500279 Mirc ElectronicsLtd.
Guviso HoldingsPvt Ltd.
25-Jul-08 Priv. Stock
17 500302 PiramalHealthcare Ltd.
Canere Actives &Fine Chemicals Pvt.Ltd.
28-Jan-04 Unlisted Stock
18 500329 PentamediaGraphics Ltd.
PentasoftTechnologies Ltd.
15-Oct-08 Listed Stock
19 500413 Thomas Cook(India) Ltd.
L K P Forex Ltd. 30-Jun-06 Unlisted Stock
20 500510 Larsen & ToubroLtd.
Datar SwitchgearLtd.
25-Aug-05 Listed Cash
21 500660 GlaxosmithklinePharmaceuticalsLtd.
BurroughsWellcome (India)Ltd.
17-Mar-04 Listed Stock
22 500680 Pfizer Ltd. PharmaciaHealthcare Ltd.
13-Jul-04 Listed Stock
23 500770 Tata ChemicalsLtd.
Hind LeverChemicals Ltd.
22-Jan-03 Listed Stock
24 500945 Value IndustriesLtd.
RanjangaonIndustries Pvt. Ltd.
2-Apr-07 Unlisted Cash
(continued)
242 Appendix F: Sample Companies in Event Study …
(continued)
BSEcode
Acquirer name Target name Announcementdate
Targettype
Paymentmethod
25 502445 Rohit Pulp &Paper Mills Ltd.
Marathon RealtyLtd.
30-Mar-07 Priv. Stock
26 502465 Speciality PaperLtd.
Reliable Paper(India) Ltd.
5-Jul-07 Unlisted Cash
502465 Speciality PaperLtd.
Opel Paper MillLtd.
5-Jul-07 Unlisted Cash
502465 Speciality PaperLtd.
Prime Industries 5-Jul-07 Unlisted Cash
27 503031 MorarjeeRealties Ltd.
Dawn Mills Co.Ltd.
5-May-06 Listed Stock
28 503722 Banswara SyntexLtd.
Banswara TextileMills Ltd.
10-Dec-04 Listed Stock
29 503837 Shree RajasthanSyntex Ltd.
Shree RajasthanTexchem Ltd.
31-Jul-06 Listed Stock
30 504028 G E E Ltd. Ferroseal India Pvt.Ltd.
30-Jan-08 Unlisted Cash
504028 G E E Ltd. Filarc EngineersPvt. Ltd.
30-Jan-08 Unlisted Cash
504028 G E E Ltd. Sagar MerchandisePvt. Ltd.
30-Jan-08 Unlisted Cash
31 504092 Indokem Ltd. Sovereign TradingEnterprises Ltd.
24-Dec-07 Unlisted Stock
32 504212 Universal CablesLtd.
Optic Fibre GoaLtd.
24-Jan-06 Unlisted Stock
33 504614 Sarda Energy &Mineral Ltd.
Raipur Gases Pvt.Ltd.
29-Sep-06 Unlisted Stock
504614 Sarda Energy &Mineral Ltd.
ChhattisgarhElectricity Co. Ltd.
29-Sep-06 Unlisted Stock
34 505400 Texmaco Ltd. EvershineMerchants Pvt. Ltd.
14-Aug-07 Unlisted Stock
35 506172 SampadaChemicals Ltd.
DebonairPublications Ltd.
14-Jan-05 Sub. OTHER
36 506186 GalaxyEntertainmentCorpn. Ltd.
Pan IndiaRestaurants Ltd.
27-Oct-06 Unlisted Stock
37 506401 Deepak Nitrite Aryan Pesticides 5-Jun-03 Listed Stock
38 506618 PunjabChemicals &Crop ProtectionLtd.
Alpha Drug IndiaLtd.
12-May-05 Listed Stock
(continued)
Appendix F: Sample Companies in Event Study … 243
(continued)
BSEcode
Acquirer name Target name Announcementdate
Targettype
Paymentmethod
39 506985 Twilight LitakaPharma Ltd.
Care Unipac Pvt.Ltd.
19-Sep-05 Unlisted Cash
40 507794 Khaitan Chem &Fertilizers Ltd.
Mahadeo FertilizersLtd.
13-Apr-06 Public Stock
41 507796 Jhaveri FlexoIndia Ltd.
Jhaveri FlexiLaminate Pvt. Ltd.
21-Jan-06 Unlisted Cash
42 507880 V I P IndustriesLtd.
Blow Plast Ltd. 9-Mar-06 Listed Stock
44 508996 Satra PropertiesIndia Ltd.
OM Housing CoPvt Ltd.
24-Nov-06 Priv. Stock
45 509930 SupremeIndustries Ltd.
Siltap ChemicalsLtd.
7-Feb-03 Listed Stock
46 511664 BGIL Films &TechnologiesLtd.
KritiCommunicationsPvt Ltd.
18-May-09 Priv. Stock
47 511672 Scan Steels Ltd. Scan Steels Ltd. 12-Jul-10 Priv. Stock
48 511760 KosianIndustries Ltd.
Ideal Systems 11-Mar-05 Priv. Stock/PF
49 512087 Parijat TradingLtd.
Multilayer FilmsPvt Ltd.
19-Mar-10 Priv. Stock
50 512179 Sunteck RealtyLtd.
Satguru CorporateServices Pvt
25-Jan-07 Priv. Stock
51 512185 I O L NetcomLtd.
Exatt TechnologiesPvt. Ltd.
14-Apr-07 Unlisted Stock
52 512529 Visistha Trade &Finance Ltd.
PI Drugs &PharmaceuticalsLtd.
11-Sep-03 Priv. Stock
53 512587 Zodiac-Jrd-MkjLtd.
M K J JewelleryPvt. Ltd.
6-Feb-08 Unlisted Stock
54 513121 OriconEnterprises Ltd.
Scientific VaccumCoating Pvt. Ltd.
23-May-05 Unlisted Stock
55 513349 Ajmera Realty &Infra India Ltd.
Anik DevelopmentCorpn. Pvt. Ltd.
22-Jan-07 Unlisted Cash
56 513446 Monnet Ispat &Energy Ltd.
MounteverestTrading & Invest
16-Mar-10 Public SHARES
57 514034 J B F IndustriesLtd.
Microsynth Fabrics(India) Ltd.
28-Mar-08 Unlisted Stock
66 514036 Loyal TextileMills Ltd.
Shri ChintamaniTextile Mills
17-Sep-10 Priv. Stock
67 514128 KonarkSynthetic Ltd.
Konark Silk MillsPvt Ltd.
30-Jul-07 Priv. SHARES
68 514162 Welspun IndiaLtd.
Glofame CotspinIndustries Ltd.
1-Nov-04 Unlisted Stock
69 515018 RegencyCeramics Ltd.
Regma CeramicsLtd.
2-Apr-07 Unlisted Cash
(continued)
244 Appendix F: Sample Companies in Event Study …
(continued)
BSEcode
Acquirer name Target name Announcementdate
Targettype
Paymentmethod
70 515055 Anant Raj Inds.Ltd.
Jasmine PromotersPvt. Ltd.
18-Jan-07 Unlisted Cash
515055 Anant Raj Inds.Ltd.
Parkland PromotersPvt. Ltd.
18-Jan-07 Unlisted Cash
515055 Anant Raj Inds.Ltd.
Mayur BuildtechPvt. Ltd.
18-Jan-07 Unlisted Cash
515055 Anant Raj Inds.Ltd.
GreenwoodPromoters Pvt. Ltd.
18-Jan-07 Unlisted Cash
515055 Anant Raj Inds.Ltd.
Rockfield BuildtechPvt. Ltd.
18-Jan-07 Unlisted Cash
515055 Anant Raj Inds.Ltd.
Anant Raj ExportsPvt. Ltd.
18-Jan-07 Unlisted Cash
515055 Anant Raj Inds.Ltd.
Sunrise BuildtechPvt. Ltd.
18-Jan-07 Unlisted Cash
515055 Anant Raj Inds.Ltd.
Northland EstatesPvt. Ltd.
18-Jan-07 Unlisted Cash
515055 Anant Raj Inds.Ltd.
Springdales EstatesPvt. Ltd.
18-Jan-07 Unlisted Cash
515055 Anant Raj Inds.Ltd.
Anant Raj AgenciesPvt. Ltd.
18-Jan-07 Unlisted Cash
515055 Anant Raj Inds.Ltd.
West LandBuildtech Pvt. Ltd.
18-Jan-07 Unlisted Cash
515055 Anant Raj Inds.Ltd.
Victor PromotersPvt. Ltd.
18-Jan-07 Unlisted Cash
515055 Anant Raj Inds.Ltd.
Jasmine PromotersPvt. Ltd.
18-Jan-07 Unlisted Cash
515055 Anant Raj Inds.Ltd.
Parkland PromotersPvt. Ltd.
18-Jan-07 Unlisted Cash
515055 Anant Raj Inds.Ltd.
Mayur BuildtechPvt. Ltd.
18-Jan-07 Unlisted Cash
515055 Anant Raj Inds.Ltd.
GreenwoodPromoters Pvt. Ltd.
18-Jan-07 Unlisted Cash
515055 Anant Raj Inds.Ltd.
Rockfield BuildtechPvt. Ltd.
18-Jan-07 Unlisted Cash
71 516076 Ador TechnopakLtd.
J B Advani & CoPvt Ltd.
5-May-04 Priv. Cash
72 517059 SalzerElectronics Ltd.
Salzer Cables Ltd. 29-Aug-08 Unlisted Cash
73 517496 Ricoh India Ltd. Gestetner (India)Ltd.
24-Aug-04 Unlisted Stock
74 517556 SSI Ltd. P V P Ventures Pvt.Ltd.
9-Jan-08 Unlisted Cash
75 517556 PVP VenturesPvt Ltd.
Malaxmi EnergyVentures(India)
16-Jun-08 Priv. Cash
(continued)
Appendix F: Sample Companies in Event Study … 245
(continued)
BSEcode
Acquirer name Target name Announcementdate
Targettype
Paymentmethod
76 517565 Ashco NiulabInds. Ltd.
Niulab EquipmentCo. Pvt. Ltd.
20-Nov-07 Unlisted Cash
77 517973 DMC VaultsLtd.
Swen TelevisionLtd.
17-Jan-06 Priv. Shares
78 518111 Swastik RoofingLtd.
New SahyadriIndustries Ltd.
14-Mar-05 Priv. Shares
79 519003 Anil Modi OilIndustries Ltd.
J P ManagementSystems Pvt Ltd.
17-Aug-05 Priv. Shares
80 519383 Madhya PradeshGlychem
Anik Industries Pvt.Ltd.
7-Oct-05 Unlisted Stock
81 519475 Chordia FoodProducts Ltd.
Agri Food ParkIndia Ltd.
8-Mar-06 Unlisted Cash
82 520021 Omax Autos Ltd. Indital Tintoria Ltd. 15-Mar-03 Unlisted Stock
83 521046 VanasthaliTextile Inds. Ltd.
Regal Weavers Pvt.Ltd.
14-Mar-05 Unlisted Cash
84 521123 Pearl Global Ltd. Pearl Styles Ltd. 7-Feb-06 Unlisted Cash
85 522004 Batliboi Ltd. Batliboi SPM PvtLtd.
17-Oct-06 Sub. Shares
86 522285 Jayaswal NecoInds. Ltd.
Inertia Iron & Iron& Steel Inds. Pvt.Ltd.
19-Nov-08 Unlisted Stock
87 523254 Casil HealthProducts Ltd.
Diacon andHospicon, BiosulinIntern
18-Nov-04 Unlisted share
88 523277 G V Films Ltd. One World MediaNetworkInfotainment Ltd.
17-Feb-04 Listed Cash
89 523315 Purity FlexpackLtd.
Vaikunth PackagingLtd.
Confusion Unlisted Stock
90 523371 Siel Ltd. Mawana sugarLtd. 11-Jan-07 Unlisted Cash
91 523385 Nilkamal Ltd. Nilkamal Crates &Bins Pvt. Ltd.
21-Apr-07 Unlisted Stock
92 523385 Nilkamal Ltd. StackwellMarketing ServicesPvt. Ltd.
21-Apr-07 Unlisted Stock
93 523606 Sika InterplantSystems Ltd.
Spaceciti ProjectsPvt. Ltd.
13-Jun-06 Unlisted Stock
94 523724 Vijay ShanthiBuilders Ltd.
High End HomesPvt Ltd.
21-Dec-09 Priv. Stock
95 523736 Dhunseri tea &Inds. Ltd.
Tezpore tea Co. Ltd. 28-Sep-07 Listed Stock
96 523736 Dhunseri tea &Inds. Ltd.
Uni Stock Pvt. Ltd. 31-Mar-08 Unlisted Stock
97 523890 D S KulkarniDevelopers Ltd.
Oyster Promoters &Developers Pvt.Ltd.
9-Oct-07 Unlisted Stock
(continued)
246 Appendix F: Sample Companies in Event Study …
(continued)
BSEcode
Acquirer name Target name Announcementdate
Targettype
Paymentmethod
98 524226 Gujarat AmbujaExports Ltd.
Jupiter Biotech Ltd. 25-Jul-03 Listed Cash
99 524310 V B C IndustriesLtd.
Bharat Alloys &Energy Ltd.
19-Jul-06 Listed Stock
100 524370 Bodal ChemicalsLtd.
Milestone OrganicsLtd.
14-Aug-07 Listed SHARES
101 524689 Parenteral Drugs(India) Ltd.
P F L Holdings Pvt.Ltd.
5-Aug-08 Unlisted Cash
101 524689 Parenteral Drugs(India) Ltd.
Goa Holdings(India) Pvt. Ltd.
5-Aug-08 Unlisted Cash
102 524715 SunPharmaceuticalInds. Ltd.
PhloxPharmaceuticalsLtd.
8-Feb-05 Unlisted Stock
103 524742 Caplin PointLaboratories Ltd.
Malind LaboratoriesPvt Ltd.
7-May-08 Priv. Stock
104 524794 MatrixLaboratories Ltd.
Vera LaboratoriesLtd.
30-Mar-04 Listed Stock
104 524794 MatrixLaboratories Ltd.
MedikonLaboratories Ltd.
30-Mar-04 Listed Stock
104 524794 MatrixLaboratories Ltd.
Fine Drugs &Chemicals Ltd.
30-Mar-04 Listed Stock
105 524820 PanamaPetrochem Ltd.
Mobil PetrochemPvt. Ltd.
31-Aug-07 Unlisted Stock
106 526109 Pricol Ltd. Xenos AutomotiveLimited
24-Jan-14 Unlisted Stock
107 526117 ShervaniIndustrialSyndicate
Tara Snacks &Foods Pvt Ltd.
20-Feb-06 Priv. Cash
108 526263 Mold-TekTechnologiesLtd.
Teck-Men ToolsPvt. Ltd.
10-Jan-07 Unlisted Cash
109 526299 Mphasis Ltd. E D S ElectronicData Systems IndiaPvt. Ltd.
26-Jul-06 Unlisted Stock
110 526371 National MineralDevelopment
Sponge Iron(India) 13-Oct-06 Govt./Unlisted
Cash
111 526538 MaximaaSystems Ltd.
Good LivingShelters Pvt. Ltd.
3-Mar-08 Unlisted Stock
526538 MaximaaSystems Ltd.
Meera’S LandDevelopers Pvt.Ltd.
3-Mar-08 Unlisted Stock
526538 MaximaaSystems Ltd.
Meera’S Real EstateDevelopers Pvt.Ltd.
3-Mar-08 Unlisted Stock
526538 MaximaaSystems Ltd.
Mapara FurniturePvt. Ltd.
3-Mar-08 Unlisted Stock
(continued)
Appendix F: Sample Companies in Event Study … 247
(continued)
BSEcode
Acquirer name Target name Announcementdate
Targettype
Paymentmethod
112 526668 Kamat Hotels(India) Ltd.
Himco (India) Ltd. 10-May-05 Unlisted Stock
113 526707 Alchemist Ltd. Kaiser Hospital Ltd. 31-Aug-06 Unlisted Cash
114 526829 ConfidencePetroleum IndiaLtd.
Khara GasEquipments Pvt.Ltd.
13-Jun-07 Unlisted Stock
526829 ConfidencePetroleum IndiaLtd.
MaharashtraCylinders Pvt. Ltd.
13-Jun-07 Unlisted Stock
526829 ConfidencePetroleum IndiaLtd.
Hans GasAppliances Pvt. Ltd.
13-Jun-07 Unlisted Stock
115 530163 Kerala AyurvedaLtd.
Katra HealthcarePvt. Ltd.
28-Apr-05 Unlisted Stock
116 530239 Suven LifeSciences Ltd.
Asian ClinicalTrails Pvt. Ltd.
6-Mar-06 Unlisted Stock
117 530377 NilaInfrastructureLtd.
Pearl StockHoldings Pvt Ltd.
25-Sep-09 Priv. Stock
118 530433 Shiva FertilizersLtd.
Parvati FertilizersPvt. Ltd.
21-Mar-06 Unlisted Cash
119 530435 Media VideoLtd.
Kool Auto Pvt. Ltd. 23-Dec-05 Unlisted Stock
530435 Media VideoLtd.
Shri VenkateshwaraElectronics Pvt. Ltd.
23-Dec-05 Unlisted Stock
530435 Media VideoLtd.
Paradox MotorsPvt. Ltd.
23-Dec-05 Unlisted Stock
530435 Media VideoLtd.
Beech TreeBuildcon Pvt. Ltd.
23-Dec-05 Unlisted Stock
530435 Media VideoLtd.
Valerian PropertyDevelopers Pvt.Ltd.
23-Dec-05 Unlisted Stock
530435 Media VideoLtd.
Acacia BuildwellPvt. Ltd.
23-Dec-05 Unlisted Stock
120 530549 Shilpa MedicareLtd.
Shilpa Organics PvtLtd.
29-Aug-05 Private Stcok
121 530611 Sturdy IndustriesLtd.
Swati Storwel PvtLtd/ and M/s. Nu-line Industries PvtLtd.
1-Oct-07 Priv. Stock
122 530619 Asian CERCInformationTechnology
Regius Infotech Pvt.Ltd.
22-Jan-08 Unlisted Stock
(continued)
248 Appendix F: Sample Companies in Event Study …
(continued)
BSEcode
Acquirer name Target name Announcementdate
Targettype
Paymentmethod
123 530707 Aftek Ltd. Elven MicroCircuits Pvt. Ltd.
11-Dec-06 Unlisted Stock
530707 Aftek Ltd. Elven MicroCircuits Pvt. Ltd.(EMPL)
11-Dec-06 Unlisted Stock
530707 Aftek Ltd. C2Silicon SoftwareSolutions Pvt. Ltd.
11-Dec-06 Unlisted Stock
124 530723 NucleusSecurities Ltd.
Nucleus Netsoft &GIS(India)
11-Jul-05 Priv. Stock
125 530871 ChembondChemicals Ltd.
Shree MahalasaElectronics Pvt. Ltd.
16-Jan-08 Unlisted Stock
126 530889 Alka India Ltd. Janice Textiles Ltd. 28-Mar-04 Listed Cash
127 531153 DiligentIndustries Ltd.
Adithya AgroAllied Oils Ltd.
11-Jan-13 Priv. Stock
128 531175 B L S InfotechLtd.
Bossom Exim Pvt.Ltd.
20-Feb-06 Unlisted Stock
531175 B L S InfotechLtd.
Business Point Ltd. 20-Feb-06 Unlisted Stock
531175 B L S InfotechLtd.
DKS Homes PvtLtd.
20-Feb-06 Unlisted Stock
129 531429 AdventComputerServices Ltd.
Itheories BusinessFactory (India) Pvt.Ltd.
13-Jun-05 Unlisted Stock
130 531486 Filmcity MediaLtd.
WellnessCommunication PvtLtd.
15-Nov-06 Priv. Stock
131 531645 Southern Ispat &Energy Ltd.
Kerala Sponge IronLtd.
16-Jan-08 Unlisted Stock
132 531651 National GeneralIndustries
Modi Metal UdyogPvt Ltd.
28-Aug-08 Priv. Stock
133 531716 Rids SecuritiesLtd.
Tricom AgrochemLtd.
19-Sep-08 Priv. Stock
134 531972 Trident ToolsLtd.
QuickcutEngineering Co
16-Dec-11 Priv. Stock
135 532039 SunlineTechnologiesLtd.
ZenotechLaboratories PvtLtd.
20-Nov-03 Priv. Stock
136 532161 BaffinEngineeringProjects
Uniworld TelecomLtd.
24-Jan-05 Sub. Stock
137 532196 NCL SeccolorLtd.
Alltek CoatingProducts Ltd.
3-Dec-03 Priv. Stock
138 532321 CadilaHealthcare Ltd.
German RemediesLtd.
15-Jan-03 Listed Stock
(continued)
Appendix F: Sample Companies in Event Study … 249
(continued)
BSEcode
Acquirer name Target name Announcementdate
Targettype
Paymentmethod
139 532342 I T People(India) Ltd.
Orient InformationTechnology Ltd.(OITL)
27-Nov-07 Unlisted Stock
532342 I T People(India) Ltd.
MarketplaceTechnologies PvtLtd.
27-Nov-07 Unlisted Stock
140 532395 I T & T Ltd. Axis ComputersIndia Pvt Ltd.
29-Apr-04 Unlisted Stock
141 532408 Megasoft Ltd. VisualsoftTechnologies Ltd.
1-Oct-06 Listed Stock
142 532411 ViseshInfotecnics Ltd.
M P S Techno SoftLtd.
22-Sep-04 Unlisted Stock
143 532414 IKFTechnologiesLtd.
Visual Vistas 30-Dec-05 Priv. Stcok
144 532486 Pokarna Ltd. Pokarna EngineeredStone Ltd.
16-Sep-08 Unlisted Stock
145 532531 Strides ArcolabLtd.
ShasunPhamaceutical
30-Sep-14 Listed stock
146 532548 CenturyPlyboards (India)Ltd.
Sharon Wood Inds.Pvt. Ltd.
3-Jun-07 Unlisted Stock
532548 CenturyPlyboards (India)Ltd.
Sharon Veneers Pvt.Ltd.
3-Jun-07 Unlisted Stock
532548 CenturyPlyboards (India)Ltd.
Century Panels Pvt.Ltd.
3-Jun-07 Unlisted Stock
147 532727 AdhunikMetaliks Ltd.
Sri M P Ispat &Power Pvt. Ltd.
29-Jul-08 Unlisted Stock
532727 AdhunikMetaliks Ltd.
Vedvyas Ispat Ltd. 29-Jul-08 Unlisted Stock
532727 AdhunikMetaliks Ltd.
Zion Iron & SteelLtd.
29-Jul-08 Unlisted Stock
148 532747 Deccan AviationLtd.
Kingfisher AirlinesLtd.
20-Dec-07 Priv. SHARES
149 532748 Prime Focus Ltd. RelianceMediaWorks-Film& Med
2-Jul-14 Sub. Stock,Preferntialallotment
150 532761 HOV ServicesLtd.
SOURCECORPInc.
14-Mar-11 Sub. Stock
151 532815 S M SPharmaceuticalsLtd.
Plant Organics Ltd. 30-Jul-08 Unlisted Stock
152 532819 Mindtree Ltd. Aztecsoft Ltd. 29-Sep-08 Listed Stock(continued)
250 Appendix F: Sample Companies in Event Study …
(continued)
BSEcode
Acquirer name Target name Announcementdate
Targettype
Paymentmethod
153 532821 Indus Fila Ltd. Tulip Apparels Pvt.Ltd.
12-Mar-08 Unlisted Stock
154 532822 Idea CellularLtd.
SpiceCommunicationsLtd.
25-Jun-08 Listed Stock
155 532966 Titagarh WagonsLtd.
Titagarh Steels Ltd. 30-Mar-09 Public SHARES
156 532981 Anu’sLaboratories Ltd.
Nitya LaboratoriesLtd.
10-Mar-10 Priv. Stock
157 533100 Premier Energy Valagam PowerProjects Ltd.
28-Jun-10 Priv. Stock
158 533166 Sundaram MultiPap Ltd.
Vidarbha PaperProducts Mills Ltd.
11-May-07 Unlisted Stock
533166 Sundaram MultiPap Ltd.
Sihora PaperProducts Mills Ltd.
11-May-07 Unlisted Stock
159 590022 Eastern SilkInds. Ltd.
Sstella Silks Ltd. 19-Jul-04 Unlisted Cash
590022 Eastern SilkInds. Ltd.
Eastern JingyingLtd.
19-Jul-04 Unlisted Cash
159 590037 Steel ExchangeIndia Ltd.
Vizag Profiles Ltd. 31-Oct-06 Unlisted Stock
160 502207 Alembic GlassIndustries Ltd.
Shreno Ltd. 6-Jan-06 Priv. Stock
Appendix F: Sample Companies in Event Study … 251
Index
AAbnormal returns, 5, 7, 8, 12–15, 17–25, 27,
28, 37, 38, 43, 44, 46, 47, 50, 56, 57, 60,63, 66, 67, 71, 75, 79, 81, 82, 84, 90, 91,98, 103, 170, 173, 182, 184, 187, 189
Acquire, 1, 3, 4, 8, 11, 46, 50, 57, 59, 60, 63,66, 68, 69, 71, 76, 78, 89, 109, 117, 118,120, 121, 124, 126, 130, 138, 182, 186–189
Acquirer, 1, 3, 4, 6, 12, 38, 40, 50, 51, 57, 58,60, 63, 65, 67, 69–71, 77–79, 91, 113, 122,124, 126, 128, 134, 135, 148, 149, 152,169, 176, 184, 185
Agency theory, 169Announcement, 5–8, 12, 13, 15–18, 20, 29, 31,
33, 37–40, 43, 44, 46, 50, 53–55, 57, 60,61, 63, 71, 73, 75, 77–79, 81, 84, 85,89–92, 94–96, 98, 103, 104, 135, 136, 148,154, 160, 170, 173, 175, 184–189
Announcement effects, 20, 44, 79, 89, 91, 95,98, 148, 169
Asset seeking perspective, 4
BBehavioral hypothesis, 2, 46Behavioral theories, 2Brand, 1, 4, 39, 59Business process outsourcing, 1
CCapacity, 4, 49, 60, 68, 116, 130, 188Competence, 1Competition, 1Competitiveness, 1, 4, 188Corporate governance, 2, 5, 6, 8, 11–13, 15,
48, 142, 147–153, 155–157, 161, 165,169–173, 175, 177, 179, 180, 182, 183,186, 188–190
Corporate governance index, 8, 148, 150, 151,170, 187, 189
Corporate governance score, 5, 8, 147, 148,150, 169–173, 175, 176, 178, 180, 182, 186
Costs, 4, 5, 78, 112, 125, 126, 129, 152, 169,182, 186, 188
Country-level, 4Cross-border, 3, 4, 12, 38, 39, 48–50, 54,
57–60, 86, 88, 89, 91, 92, 95, 97, 98, 100,103, 184, 185, 187–189
Cross-sectional standard deviation test, 21, 22Crude dependence test, 21Cultural, 4, 60Cumulative average abnormal returns, 6, 7, 13,
19, 20, 28, 40, 43–45, 50, 56, 57, 84, 173,174, 189
DData set, 8Destroy, 2, 3Developed, 2, 6, 8, 12, 20, 24, 38, 59, 89, 92,
93, 95–98, 101, 103, 104, 134, 157, 184,185, 189
Distribution channels, 4Diversification, 3, 88Domestic, 4, 12, 33, 38–40, 50, 54–60, 104,
140, 155, 157, 184, 185, 187, 190Du-pont, 110, 125, 126, 128
EEarn-out, 38, 84, 87, 88Economic benefits, 5, 114Economic integration, 3Economies of scale, 3, 5, 46, 57, 122, 126, 129,
130, 186, 189Efficiency, 3, 13, 28, 38, 110–113, 116, 117,
123, 124, 126–130, 134, 140, 148, 170, 186
© Springer Science+Business Media Singapore 2016N. Rani et al., Mergers and Acquisitions, India Studiesin Business and Economics, DOI 10.1007/978-981-10-2203-6
253
Emerging economies, 2, 88Emerging market acquirers, 3Emerging market multinationals, 3Emerging markets, 2, 38, 60, 89, 98, 99, 101,
102Empire building, 2, 3, 134Empirical, 2, 6, 7, 12, 37, 38, 50, 59, 70, 77,
84, 103, 109, 110, 117, 121, 124, 130, 131,133, 134, 139, 140, 142, 147, 148, 169,175, 182, 184
Entity, 1, 135Estimation period, 16, 18, 20–22, 24–26Estimation window, 16, 20, 27Event-induced, 7, 23, 27, 189Event study methodology, 6, 7, 11, 12, 14–16,
34, 37, 38, 183Eventus version 8, 8Event window, 13, 17–20, 24–27, 31, 33, 37,
39, 40, 43–47, 50–57, 59, 61–68, 70–77,79–82, 84, 87, 89, 91–96, 98–100, 102,103, 173, 174, 189
Expansion strategy, 2
FFinancial market, 3, 20, 134Financial performance, 5, 6, 8, 11, 12, 15, 33,
109, 112, 117, 130, 148, 152, 169, 170,175–177, 182, 183, 185, 186, 189
Financial synergy, 1Flexible strategy, 1Free cash flow, 2, 78, 87, 185Frequency distribution, 38, 46–52, 138, 149,
150, 159, 170–172
GGeneralized sign test, 25, 26Geographic, 4, 88Globalization, 2, 3Growth, 1–3, 78, 79, 109, 139, 188
HHubris, 1, 3, 46
IIndustry, 1, 6, 150, 172Information technology, 1, 59International trade, 3Investigate, 2, 15, 17, 78, 109, 110, 133, 135,
139–142, 157, 170Investments, 2, 5, 13, 141, 176, 182, 188Investors’ expectation, 5
JJackknife test, 27–29
KKnowledge, 4, 6, 134
LLeverage, 4, 13, 46, 48, 57, 110, 112, 117, 124,
185, 189Liberalization, 2Liquidity, 13, 71, 76, 110, 112, 117, 124, 130,
134, 185Local, 4, 60Long-term, 2, 5, 8, 17, 33, 69, 109, 110, 112,
113, 117, 121, 125, 130, 134, 170, 182,183, 189
Losses of one, 1
MManagement acts, 2Managerialism hypothesis, 3Mangers, 2Market for corporate control, 2–4, 49, 169Market for corporate control hypothesis, 4Market model, 18, 21, 24Market power, 3, 59, 126, 130, 134, 140Market reaction, 5, 6, 16, 37, 54, 69, 79, 83, 87,
90, 91, 93, 97, 98, 183, 188Market share, 1, 3, 142, 185Maximize, 2, 3Mean, 13, 20, 27–29, 57, 58, 65, 67, 68, 74, 76,
87–89, 98, 102, 110–112, 115, 118–121,123, 124, 127, 129, 153, 157, 171, 172,174–181, 186
Median, 40, 41, 44, 45, 51–53, 55, 56, 60, 61,64, 66, 71, 72, 75, 80–82, 84, 85, 92, 94,96, 99, 173
Mergers and acquisitions (M&A), 1–3, 5–9,11, 13–16, 29, 31–33, 37–39, 46, 88,103, 109–111, 115, 130, 133–136, 138,142, 148, 170, 173, 176, 183–186,188, 189
Motives, 1–3, 5, 6, 8, 11, 12, 31, 60, 130,133–135, 138, 139, 185
NNegative, 1–3, 6, 40, 43, 44, 46, 51, 54, 56, 62,
65, 69, 71, 73, 78, 79, 81, 83, 87, 90, 91,97, 111, 115, 122, 124, 126, 129, 130, 175,186
Neoclassical hypothesis, 2
254 Index
Nonparametric test, 7, 20, 25, 41, 44, 45, 51,53, 55, 56, 61, 64, 66, 72, 75, 80, 82, 85,92, 94, 96, 99
Null hypothesis, 20, 23–27, 29, 44, 57, 63, 65,79, 90, 91, 97, 98, 110, 178, 179
OOperational synergy, 1Organization, 8Overvaluation hypothesis, 2, 3
PParametric test, 20, 21, 41, 45, 53, 55, 61, 64,
66, 72, 75, 80, 82, 85, 92, 94, 96, 99Patell’s test, 21, 22Patent, 4Pharmaceuticals, 1, 59, 149Policy, 3, 136, 156, 157, 182, 183, 188, 189Precision-weighted cumulative abnormal
return, 19Primary data, 11, 13, 14, 31, 151, 189Product market, 4
QQuestionnaire-based survey, 8
RR&D, 5Rank test, 26, 27Regional, 4, 88Regulation, 3, 142, 151, 155, 157Reputation, 4Research method, 8, 11–14, 31, 33, 134Restructuring, 3, 39, 60, 141
SSAS system for windows 9.1, 8Secondary data, 8, 11, 13, 31, 183Security returns, 5, 21Shareholders, 2–4, 6, 16, 20, 37, 38, 46, 50, 51,
53, 55–58, 60, 61, 63, 64, 66, 71, 72, 75,77, 78, 80–82, 84, 85, 87, 91, 92, 94, 96,
99, 103, 104, 152, 153, 155–157, 159, 169,173–175, 186, 188, 189
Short-term, 2, 5, 8, 14, 15, 33, 37, 38, 40, 44,50, 54, 60, 63, 71, 73, 79, 81, 84, 89, 91,95, 98, 124, 134, 169, 170, 173, 175,182–184, 186
SPSS, 8Standard deviation, 19, 21, 22, 24, 27, 33, 46,
47, 112Standardized cross-sectional test, 21, 24, 25Statistical software, 8Strategic market entry hypothesis, 4, 49Strategy, 1, 2, 4, 6, 9, 48, 109, 134, 139, 142,
170, 183, 188Superior, 4Survey, 6–8, 11, 14, 15, 130, 133–136, 138,
139, 142, 147, 148, 150, 152, 153, 171,183, 185
Synergy, 1–3, 6, 8, 31, 46, 57, 78, 133, 135,139, 142
TTarget firm, 1, 3, 4, 12, 38–40, 49, 60, 63, 65,
67, 69–71, 74, 77–79, 88, 91, 95, 97, 98,100, 104, 184, 185, 187, 188
Tax treaty, 4Telecommunications, 1Time line, 17
UUndervaluation, 3
VValuations, 2, 3, 78, 88, 134, 147, 148, 169,
170, 180–182, 187, 188, 190Value-reducing mergers, 2Variance, 7, 21–25, 27, 29, 47, 189
WWealth, 1–3, 6, 8, 37, 54, 57, 58, 62, 63, 71,
76, 83, 87, 103, 104, 175, 186Wholly owned subsidiary, 6, 31, 63, 65, 67,
104, 133, 138, 140–142, 184, 185, 187
Index 255
