Indian companies announced as many as 60 private equity deals as against 56 M&A transactions, according to data compiled by global consultancy firm Grant Thornton. However, the total value of PE deals was lower at $2.05 billion compared to $3.01 billion in M&As transactions.

During calender year 2007, the total number of M&A deals announced stood at around 661, while there were as many as 386 private equity deals during the same period.

The major M&A deals in January this year were Tata Chemicals Ltd’s acquisition of US-based General Chemical Industrial Products Inc, and Great Offshore’s acquisition of SeaDragon Offshore.

Cross-border deals

In M&A space, the cross-border deals continued to outnumber the domestic transactions. While there were 18 domestic deals where both acquirer and target company were Indian with an announced value of $0.21 billion, there were 38 cross-border deals with an announced value of $2.80 billion.

Of the cross-border deals, 27 were outbound deals with a value of $2.57 billion and 11 were inbound deals with an announced value of $0.23 billion dollars. Among some of the major cross-border outbound deals, the acquisition of Italian auto design firm GR Grafica Ricerca Design Srl by Mahindra & Mahindra was the most significant one.

The total number of private equity deals announced during the month of January 2008 stood at 60 with an announced value of $2.05 billion.

Amid major PE deals, Citi Venture Capital and AIG infused funds to the tune of  $375 million in Akruti City, for 16 per cent stake in the company. GIC along with JP Morgan invested around $175 million dollar in Ballarpur Paper Holdings for 21 per cent shareholding in the company. Meanwhile, in January this year, five IPOs raised a sum of $214.38 million.