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Instructor: S.P.R.Vittal, email@example.com, firstname.lastname@example.org
MBA - Class of 2012
1. Course Objective, description: In spite of the recent turmoil in the IB industry, still it plays a dominant role in the areas of M&A deal structuring, corporate valuation, corporate advisory, and Public Issue management. The course is designed to familiarize students with field of investment banking and to make students understand various functions of investment banks. The contents of this course include financial markets, raising finance from domestic and international markets, merchant banking, corporate restructuring, valuation, Private equity funding, and Hedge fund operations. The recent developments in the field will be given due preference while delivering the course. Students are expected to have through knowledge of spreadsheets and all the fundamentals of finance. 2. Course dates : June 13 – October 7, 2011 3. Session Timings: Section A Monday 10.45 – 12.00 Tuesday 10.45 – 12.00 4. Text Book Stowell, David P. (2010). An Introduction to Investment Banking, Private Equity and Hedge Funds, Academic Press (DPS) 5. Additional Material 1. Liaw, Thomas K. (2006). The Business of Investment Banking: A comprehensive overview. John Wiley & Sons, Inc. 2. Rosenbaum, Joshua & Pearl, Joshua. (2009). Investment Banking: Valuation, Leveraged Buyouts, and Mergers & Acquisitions. John Wiley & Sons, Inc 3. Subramanyam, Pratap G. (2008). Investment Banking: Concepts, Analysis and Cases. Tata McGraw Hill. 4. Subramanyam, Pratap G. (2006). Investment Banking: An odyssey in High Finance. Tata McGraw Hill. 5. Ellis, Charles D. (2008). The partnership: the making of Goldman Sachs. The Penguin Press. 6. Burrough, Brian & Helyar, John (1989). Barbarians at the Gate: The fall of RJR Nabisco. Harper Collins. 7. Annual Reports of Prime Database, various years 8. Wall Street ( Movie) 9. Barbarians at the Gate ( Movie) 10. Inside Job ( documentary) Section B Thursday 10.45 – 12.00 Friday 10.45 – 12.00 Section C Monday 3.25 – 4.40 pm Tuesday 2.00 – 3.15 pm
Component 1 Description 1 Quiz (individual) 2 Written Case Analysis . 6. The end-term will be a three hours case-based examination for 100 marks with a weightage of 40%. The internal evaluation consists of four components for a total of 60 marks.2 (group) 3 4 5 Group Project Class Participation End-Term examination 1 Date TBA TBA TBA Continuous TBA Sessions 8th session 17th & 27th session 23rd session Continuous TBA Weightage 10% 15% 15% 30% 30% . Evaluation The evaluation consists of internal evaluation and end-semester examination.5. Students are expected to go through all the reading prescribed before every class and make a meaningful contribution through active class participation. The course is delivered through case discussions and problem solving. Course preparation and Methodology The course requires a thorough preparation on the part of the student.
A Review of IPO Activity.298095-PDF-ENG Richard B. Pearce. Ivo. readings and cases Session Date No. the business of investment banking. 4.R.3.. LVII.KEL183-PDF-ENG Acquisition of Consolidated Rail Corp. Ritter. J. 1 2 Topic Readings Case/Note/Article 5 to 10 Introduction to the course. Pricing.BH107 11 to 14 2 . No.298006-PDF-ENG Acquisition of Consolidated Rail Corp. and evaluation Chapter 10 . and Allocations.4 . & Welch. (A) – HBSP . Vol.9-807-095 Freeport-McMoran: Financing an Acquisition – DPS – Case No.DPS Banking : Post-crisis global investment banking firms. The Seven percent solution.Role of IB – Distribution alternatives – Shelf registration – Green Shoe option Mergers and Chapter 4 – DPS Acquisitions The core of M&A – Credit rating and acquisition currency – Role of IBs – Acquisitions – Due diligence and documentation – Alternative sale processes – Corporate restructuring – Takeover defenses – Valuation – History of Investment Banking (Note) – HBSP – 9-902-168 A Note on the Initial Public Offering Process – HBSP – 200018 Motilal Oswal Financial Services Ltd.DPS Overview Investment Chapters 1 & 2 . (2002). Vol LV. Hostile Takeover Defenses That Maximize Shareholder Wealth .: An IPO in India – HBSP . No.7. Schedule of classes. The Journal of Finance. (B) – HBSP . Regulation of the securities industry in USA and various other countries Financings Chapter 3 – DPS Capital market financings – Financing Considerations – Financing alternatives – IPO & FPO . Course Handout readings.3 .KEL345-PDF-ENG Chen & Ritter (2000). & John A. Robinson Jr. The Best Deal Gillette Could Get: Procter and Gamble’s Acquisition of Gillette – DPS – Case No. The Journal of Finance.
equity trading – FICC trading . Wealth Chapter 6 & 7 .2 .205059-PDF-ENG Securities Trading: Front. 18 and 20 – DPS Cerebrus and the U.S. and Back Office .DPS Client related trading .KEL133-PDF-ENG Investment Banking in 2008 (A): The rise and fall of the Bear – DPS – Case No. 9 .Proprietary trading – Risk Monitoring and Control .210020-PDF-ENG How Venture Capitalists Evaluate Potential Venture Opportunities 805019-PDF-ENG 31. 130/30 Funds.DPS Michel.private equity as an alternative model for corporate governance Leveraged d Buyout LBO financial model – determining cash flow available for debt service – financial sponsor’s IRR determination Chapters 16. 16. 17 & 18 Topic Readings Case/Note/Article A tale of two hedge funds: Magnetar and Peloton – DPS – Case No. The Financial Analysts Journal.311013 Private Capital and Public Policy: Standard & Poor's Sovereign Credit Ratings . Sears. 12 & 15 – DPS 27.KEL380-PDF-ENG Martingale Asset Management LP in 2008.Session Date No. RJR Nabisco: A Case Study of a Complex Leveraged Buyout.KEL315PDF-ENG Shenzhen Development Bank .International banking – Euro markets – Japan’s markets – China’s financial markets – Emerging financial markets Asset Management. 24. 23. 15. Middle.Case No.705026-PDF-ENG Kmart. Sept-Oct. Israel. 25 & 26 Hedge Funds Overview – composition of investors – industry concentration – Performance – Financial innovation – Hedge fund investment strategies - Chapter 11. Auto Industry – DPS – Case No.110070-PDF-ENG Note on the Asset Management Industry .KEL378-PDF-ENG Investment Banking in 2008 (B): A brave new world – DPS – Case No.1 . (1991). 28 29 & 30 Private Equity & Venture Capital Overview – participants – financing bridges – secondary markets for private equity – management practices and productivity – value propositions for corporations . 20 & 21 22. and a LowVolatility Strategy – HBSP .6 .KEL168-PDF-ENG 3 . and ESL: How a Hedge Fund became one of the World’s Largest Retailers – DPS – Case No. Allen & Shaked. 5KEL402-PDF-ENG Deutsche Bank: Finding Relative Value Trades . and Credit Rating 19. The Toys “R” Us LBO – DPS . 32 & 33 Chapter 17 . 10 .DPS Management & Research.209047-PDF-ENG Trading Chapter 5 .