5paisa Capital Ltd. · NSE:5PAISA
5paisa Capital — Cox and Kings (India) — IPO Roadshow (November 2009)
24 slides from 5paisa Capital's IPO roadshow presentation, Nov 18, 2009
Slide 1: Cox and Kings (India) Ltd IPO
Cox and Kings (India) Ltd Issue opens on November 18, 2009 Issue closes on November 20, 2009 Price band Rs 316 to Rs 330 per Equity Share [Face Value of Rs 10/- each] SOLE BOOK RUNNING LEAD MANAGER INDIA INFOLINE INVESTMENT BANKING
Slide 2: Disclaimer
Cox and Kings (India) Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an Initial Public Offering of it’s Equity Shares and has filed the Red Herring Prospectus with the Registrar of Companies. The Red Herring Prospectus is availabl
Slide 3: Offering Details
OFFERING DETAILS
Slide 4: Issue structure and outstanding equity shares
ISSUE 18,496,640 I) of which Fresh Issue 15,450,000 Offer for Sale 3,046,640 II) of which Employee Reservation, i.e. upto 200,000 Net Issue , which comprises of 18,296,640 QIB Portion*, i.e. not > 50% of above 9,148,320 Non-Institutional Portion, i.e. not < 15% of above 2,744,496 Retail Portion, i.e
Slide 5: Price band and offer details
Rs 316 to Rs 330 per Equity Share Price Band [Face Value of Rs 10/- each] Offer Size (at upper band) Rs 610.39 Cr Dilution 29.40% of Post-Issue Paid-up Capital Minimum Application & Bid Lot 20 Equity Shares and in multiples thereof Issue Opens on November 18, 2009 Issue Closes on November 20, 2009 B
Slide 6: An Overview
——eso Cox & KINGS AN OVERVIEW LUXUR ESCAPADES
Slide 7: One of India's largest travel and tour operators
"Cox & Kings" - Amongst the oldest travel brand Recognised both locally as well as globally One of India’s largest travel and tour operator Pan-India presence with 255 touch points in 164 locations A global player, with presence in 20 countries including India spread across all continents
Slide 8: Tourism market size and growth
T&T Economy GDP – 10Yr CAGR Growth to 2019 Tourism Market Size* 10.0% 2000 2008P 2012E 8.0% 6.0% 4.0% Outbound 4.4 10.7 17.1 2.0% 0.0% US Inbound 2.7 5.4 11.1 Brazil China Spain UK India World Japan Mexico Russia Germany Domestic 220 563 871 Source: WTTC Travel Report Mar 09 International Tourist
Slide 9: Board of directors
•Aged 76, Good has previously acted as a consultant to the parent company A B M Good of British Caledonian Airways Promoter •Associated with C&K for several decades, he has been a constant guiding Executive Chairman force to the company Ajay Ajit Peter •Aged 46, he is the founder member & director o
Slide 10: About the Company
ABOUT THE COMPANY
Slide 11: Presence in 20 countries globally
Presence in 20 countries globally including India Subsidiaries in UK, Australia, New Zealand, Japan, US, UAE, Hong Kong and Singapore Branch offices in Moscow (Russia), Maldives and Tahiti Representative offices in Spain, Sweden, Germany, Italy, France, Taiwan, South America and South Africa
Slide 12: Outbound, Inbound, Domestic and Business Travel
• Significant contributor to total business Outbound • Offers large number of destinations under “Duniya Dekho” (Group Tours) and “Flexihol” (FIT Tours) brand • Caters to both subsidiaries as well as other tour operators Inbound • Renowned as tour specialist for Indian tours - quoted as premium tour
Slide 13: Quoppro - Visa Processing Services
Quoppro - Visa Processing Services Quoppro provides comprehensive processing services to diplomatic missions. Technology (proprietary software with technical and support agreements with Mastek) & Security key to business success Received approvals for operations in 6 countries. Mission Count
Slide 14: Launching a luxury train - Maharajas' Express
Launching a luxury train – Maharajas’ Express JV with IRCTC in 2008; scheduled launch in Jan 2010 Four different itineraries (7-8 days each) Total of 16 journeys a year; scheduled between September and April Artist’s Impression 14
Slide 15: Strengths & Strategy
——eso Cox & KINGS ———e2o Strengths & Strategy
Slide 16: Awards and recognition
“Best Domestic Tour Operator” “Best Inbound Tour Operator” 2009 2009 by TAFI –Abacus by TAFI –Abacus “India’s Top Rated Tour Operator – Outbound” “TravelBiz Monitor Most Innovative 2009 Product Launch” in 2009 by The Economic Times & Travel Agents Association of India by TAFI-Abacus “Most Innovative
Slide 17: Alliances and initiatives for better reach
C&K has several alliances & initiatives for better reach Shareholder member of prestigious “Radius Marketing tie-up with Greenbee (part of Inc.”, a consortium of leading independent John Lewis Partnership, one of UK’s top travel agents around the world retail chain) Launched tour programmes with Nat
Slide 18: Product spectrum and technology infrastructure
Product Spectrum Technology Infrastructure • C&K India – A “One Stop Shop” • Completely integrated for all travel requirements front, mid and back office • High brand recognition of solution “Duniya Dekho”, “Bharat • Implemented a comprehensive Deko” and “FlexiHol” brands central reservation engine
Slide 19: Strategic initiatives and growth drivers
Bulk Buying advantage Focus on Acquisitions – Inorganic Outbound/Destination initiatives Management capabilities Better Reach & Spread Online Presence (franchisee network) Strategic Initiatives - Expansion of product offering 19
Slide 20: Financial Snapshot
——eso Cox & KINGS ———e2o Financial Snapshot
Slide 21: Financial snapshot and key metrics
Rs. in Cr FY07 FY08 FY09 FY10 - Q1 Income from Operations 97.0 182.1 286.9 99.6 Sales Growth (%) 53% 88% 58% NA EBITDA 40.2 73.0 121.4 47.3 EBITDA Margins (%) 41% 40% 42% 47% Other Income 2.5 6.2 6.7 16.3 Net Profit After Tax (NPAT) 21.0 45.1 63.4 40.8 NPAT Margins (%) 22% 25% 22% 41% Share in profi
Slide 22: Objects of the issue: fund requirement
Particulars Fund Requirement (Rs. in Cr) Acquisitions & Other Strategic Initiatives 150.0 Repayment of Loans 129.6 Investments in Overseas Subsidiaries 62.5 Investment in Corporate Office & Upgrading our 60.0 existing Operations General Corporate Purposes* [●] Meeting Fresh Issue related Expenses* [
Slide 23: Pre-issue and post-issue shareholding
Pre-Issue Holding Post-Issue Holding Name of Shareholder (%) (%) Promoter & Promoter Group 84.3% 63.6% Selling Shareholders 11.0% 3.4% Lehman Brothers Opportunity Limited 3.9% 1.2% Deutsche Securities Mauritius Limited 3.9% 1.2% Merrill Lynch Capital Markets Espana, S.A., S.V. 3.2% 1.0% Other Non –
Slide 24: Investment highlights
Travel sector is positively impacted by the growing domestic consumption Global Travel industry Strong brand; profitable expected to grow faster franchise; than the global GDP Proven management expertise in identifying Expanding reach, past and executing organic track record of and inorganic consist