Merchant Banking

Merchant banking is the natural outgrowth of an entrepreneurial mindset and that mindset helps us to move beyond conventional investment banking. While we are willing to invest firm capital in many of our deals, our capital is only a small part of any investment. Our merchant banking approach is holistic in practice and therefore we are interested in providing tools that might help companies reach their full potential. Whether finding senior management to help strengthen a team, crafting an IP story or negotiating licenses, we are willing to roll up our sleeves and go the distance. MDBs financial expertise includes experience with mergers, additional financings and provided liquidity events for early round investors.

Merchant Banking Strategy

We are focused on companies valued between $20 million and $200 million with an competitive advantage. We like disruptive ideas and the ability to scale them quickly. Typically, our companies will not be valued or understood by the investment community which allows us to use our firm's intellectual property to help build acceptance and recognition in the market. Microvision Today, Microvision is a leader in the development of light scanning technologies for highresolution display and imaging systems. When this innovative young company came to MDB Capital in 2005, they had a breakthrough proprietary technology, vast potential, and a significant need for capital to propel their company forward. Working side-by-side with Microvisions executive team, MDB Capital did more than raise the necessary capital; we helped the company align its business and financial strategies. With the personal involvement of our principals, MDB Capital began by assessing Microvisions target markets, competing technologies, and industry trends. We quickly understood the companys core technology and its true value, then helped the company refine its messaging to better position it for investor interest.

Microvision developed and implemented its new direction, growth strategy, leadership team and organizational structure, and crystallized its company message: To be an integral component in every micro-display and imaging product sold. With this new strategy and message in place, MDB Capital introduced Microvision to select investors through a series of road shows. And in June of 2006, despite challenging market conditions, Microvision completed a critical capital raise of $25.1M in May 2006, followed by a $7.9M offering in November 2006, to move the company toward its goals. Read Testimonial Despite challenging market conditions, Microvision completed an important capital raise of $25.1 M. This transaction was made possible due to the effective management execution by the MDB Capital principals.Throughout the process, MDB showed commendable domain expertise, solid industry contacts and tenacity in completing this transaction.We are very pleased with MDBs team process and results, and I would highly recommend them to others. Alexander Tokman Microvision President and CEO

Medivation When Medivation first approached MDB Capital, the start-up company consisted of three employees with access to licensed technology for the treatment of Alzheimers Disease. With a promising technology, the company had achieved minimal success in raising the capital it needed to take its innovation to the clinical trial stage. MDB Capital helped reposition Medivation as a pharmaceutical company that creates value. We successfully crafted and communicated Medivations unique business model and strategy, positioning the company as a team of experts with the extensive resources and capabilities to take early-stage medical technologies to Phase III clinical trials and thus to market. Serving as advisor, we then helped the company locate and recruit high-profile board members and complete a merger with Orion Acquisition Corp II. The completed reverse merger resulted in financing totaling $142 million. The companys market value escalated from $10 million to over $100 million in less than 18 months. The strategic merger and capital infusion have allowed Medivation to continue identifying and developing new technologies needed to grow its product pipeline and diversify risk.

Merchant Banking Activities Punjab National Bank, Indias one of the Leading Nationalized Bank established in 1895, serving over 3.5 crore customers through 4520 branches and 439 extension counters is the largest amongst Nationalized Banks. The Bank has recently been ranked 21st among top 500 companies and 9th among top 50 brands by the Economic Times. All the Branches of the Bank have been computerized. The Bank has a concept of "Any Time, Any Where Banking" through the introduction of Centralized Banking Solution (CBS) and over 2511 offices have already been brought under its ambit.

The Bank is registered with SEBI as Category I Merchant Banker for providing all the major Merchant Banking services. Our gamut of Merchant Banking services includes:

Issue Management Services to act as Book Running Lead Manager/Lead Manager for the IPOs/FPOs/Right issues/Debt issues Project appraisal Corporate Advisory Services Underwriting of equity issues Banker to the Issue/Paying Banker Refund Banker Monitoring Agency Debenture Trustee Marketing of the issue through a strong network of QIBs/HNIEs/Corporates and Retail investor. The Bank itself is one of the major investor in the market having a treasury of 45000 crores.

Our Software for handling the Refund Banker is one of the best systems in the industry. Its unique features provides online payment of the instrument by our 2470 branches in 733 centers, online status of paid instruments, 100% reconciliation at any point of time etc.

The Bank has an exclusive and specialized Capital Market Service Branch at New Delhi for providing Merchant Banking Services to the Corporate.

Depository Services

Bank offers Depository Services to its clients and has designated large network of branches to cater to their demat requirements through Depository Participant of NSDL and CDSL depositories. We also provide the Speed e facility to demat account holders to submit their delivery instructions through Internet. The Bank has recently launched online securities trading facility in strategic alliance with IDBI Capital Market Services Ltd.