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Private equity deals soar

BIG FILLIP

New Delhi, Dec. 15 (PTI): Indian companies signed 393 private equity (PE) deals totalling $9.67 billion in the January-November period of this year, registering an increase of 36.38 per cent over the corresponding period a year ago, says a report.

According to global assurance, tax and advisory firm Grant Thornton, in the January-November period of last year, corporate India had signed 380 private equity deals amounting to $7.09 billion.

Meanwhile, November saw 32 deals amounting to $708 million, which was almost double in value terms over last year when there were 35 transactions worth $388 million.

“The year-to-date deal value in 2013 increased 36 per cent compared with year-to-date November 2012 values,” the report said, adding that “PE activity in November 2013 was largely driven by the pharmaceutical sector”.

KKR’s investment of $200 million in Gland Pharma Ltd was termed as the deal of the month.

Other major private equity deals of November include Baring Private Equity’s $131.61 million investment in Hexaware Technologies; International Finance Corporation’s $125 million investment in Yes Bank and Sequoia Capital and Info Edge’s $37 million investment in Zomato Media.

According to the report, the top five PE deals accounted for 73 per cent of the total PE deal values.

A sector-wise analysis shows that IT & ITeS attracted deals worth $243 million that amounted to 34 per cent of the total deal pie, followed by pharma ($201 million, 28 per cent); banking and financial ($154 million, 22 per cent); power & energy ($44 million, 6 per cent) and real estate ($40 million, 6 per cent).

FDI in services

Foreign direct investment (FDI) inflows into the services sector declined about 62 per cent year-on-year to $1.36 billion during April-October of the ongoing fiscal.

 
 
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