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@anandmahindra Full details on the rumor ...
Sonalika Group is manufacturer of tractors, Farm machines & Automobiles. It has turnover of Rs. 5000 cr. It has an average growth of 30 %. It is a Debt free company.
The Sonalika group comprises separate companies including International Cars & Motors (ICML), International Tractors and Sonalika Agro Industries Corporation.
ICML has its production facility to manufacture multi-utility vehicles / sports – utility vehicles, in Amb, Himachal Pradesh which is a tax-free zone.ICML has the installed capacity to manufacture 2000 MUVs in a month i.e., 24000 MUVs in a year.ICML has plans to export its MUV to Malaysia, Nepal, Bangladesh , Indonesia & African continent soon.
ICML has entered into Technical Collaboration Agreement with MG Rover of UK for the technical know – how. ICML is manufacturing MUV, RHINO RX . This deal may give M&M access to a ready-made car manufacturing unit.CVCI (Citigroup Venture Capital International) had 18% stake & 3i Agri-Vehicels still has 10% stake in ICML.Promoters & relatives own 90% stake.
Sonalika’s chairman L D Mittal has denied such rumors though Mittal admitted that Pawan Goenka did visit its HP facilities to discuss about M&M’s desire to get some of its cars manufactured there. The discussions have not materialized yet.
Transaction Reference : DNA
Transaction Note
ICML achieved a total turnover of Rs.2082.16 mn in FY 2009 as compared to Rs.964.96 mn in FY 2008 ie up by 116%. The company sold 3565 vehicles during the year against 1674 vehicles in the previous year. Its installed capacity is of 24000 vehicles. It may agree to give M&M access to its car manufacturing unit.
Buyer
Size
International Cars & Motors- M&M
11/03/10
M&A
Acquisition
Mahindra & Mahindra Ltd.
0.00
Recent Transactions In The Sector
Date
Type
Buyer
Target
Size
State
11/03/10
M&A
Mahindra & Mahindra Ltd.
International Tractors Ltd.
0.00
Rumor
11/03/10
M&A
Mahindra & Mahindra Ltd.
International Cars & Motors Ltd.
0.00
Rumor
09/03/10
M&A
Tata Motors Ltd.
429.00
Completed
03/03/10
M&A
Elgi Equipments Limited
Belair SA
1.00
Completed
03/03/10
IPO / Offerings
Mahindra Forgings Ltd.
38.09
Announced
03/03/10
M&A
0.00
Announced
Profiles
Company
Name
Promoters
Office
Competitor
Website
Mahindra & Mahindra Ltd.
Tata Motors Ltd.
International Cars & Motors Ltd.
283,Sonalika House, AGCR Enclave, Karkardooma, Delhi-110092
http://www.icml.co.in/index.html
Sonalika Group is manufacturer of tractors, Farm machines & Automobiles. It has turnover of Rs. 5000 cr. It has an average growth of 30 %. It is a Debt free company.
The Sonalika group comprises separate companies including International Cars & Motors (ICML), International Tractors and Sonalika Agro Industries Corporation.
ICML has its production facility to manufacture multi-utility vehicles / sports – utility vehicles, in Amb, Himachal Pradesh which is a tax-free zone.ICML has the installed capacity to manufacture 2000 MUVs in a month i.e., 24000 MUVs in a year.ICML has plans to export its MUV to Malaysia, Nepal, Bangladesh , Indonesia & African continent soon.
ICML has entered into Technical Collaboration Agreement with MG Rover of UK for the technical know – how. ICML is manufacturing MUV, RHINO RX . This deal may give M&M access to a ready-made car manufacturing unit.CVCI (Citigroup Venture Capital International) had 18% stake & 3i Agri-Vehicels still has 10% stake in ICML.Promoters & relatives own 90% stake.
Sonalika’s chairman L D Mittal has denied such rumors though Mittal admitted that Pawan Goenka did visit its HP facilities to discuss about M&M’s desire to get some of its cars manufactured there. The discussions have not materialized yet.
Transaction Reference : DNA
Transaction Note
ICML achieved a total turnover of Rs.2082.16 mn in FY 2009 as compared to Rs.964.96 mn in FY 2008 ie up by 116%. The company sold 3565 vehicles during the year against 1674 vehicles in the previous year. Its installed capacity is of 24000 vehicles. It may agree to give M&M access to its car manufacturing unit.
Buyer
Size
International Cars & Motors- M&M
11/03/10
M&A
Acquisition
Mahindra & Mahindra Ltd.
0.00
Recent Transactions In The Sector
Date
Type
Buyer
Target
Size
State
11/03/10
M&A
Mahindra & Mahindra Ltd.
International Tractors Ltd.
0.00
Rumor
11/03/10
M&A
Mahindra & Mahindra Ltd.
International Cars & Motors Ltd.
0.00
Rumor
09/03/10
M&A
Tata Motors Ltd.
429.00
Completed
03/03/10
M&A
Elgi Equipments Limited
Belair SA
1.00
Completed
03/03/10
IPO / Offerings
Mahindra Forgings Ltd.
38.09
Announced
03/03/10
M&A
0.00
Announced
Profiles
Company
Name
Promoters
Office
Competitor
Website
Mahindra & Mahindra Ltd.
Tata Motors Ltd.
International Cars & Motors Ltd.
283,Sonalika House, AGCR Enclave, Karkardooma, Delhi-110092
http://www.icml.co.in/index.html