Press Esc to close
Friday 27 May 2016
News updated at 9:58 AM IST
Weather
Max: 33.2°C
Min : 22.2°C
In Bengaluru
Partially cloudy

India Inc strikes 113 PE deals for $2.1 bn in July-Sept qtr

New Delhi, Oct 20, 2013, (PTI)
Indian companies signed as many as 113 private equity deals totalling USD 2.10 billion during the July-September quarter. PTI File Photo

Indian companies signed as many as 113 private equity deals totalling USD 2.10 billion during the July-September quarter, taking total value of such deals so far in 2013 to USD 8.13 billion.

Showing an uptick in the deal-making activities, the total value of PE deals in the first nine months of 2013 has risen by 34 per cent from USD 6.05 billion in the same period of 2012, as per a report by Grant Thornton.

The global assurance, tax and advisory firm feels the deal momentum will continue further in the coming months.

"Private equity deal value has increased by 34 per cent in year-to-date 2013 over year-to-date 2012, driven by majority stake deals by the larger PE Funds like Baring PE's buy-out of Hexaware, KKR's acquisition of ATG Tyres and Blackstone's acquisition of Agile Electric," Grant Thornton India LLP Transaction Advisory Services Partner Raja Lahiri said.

"We expect this increasing trend of PE Fund buy-outs to continue going forward," he added.

A sector-wise analysis shows that IT and ITeS dominated the PE deal activity space with 38 per cent share of the total deal pie, followed by banking and financial services segment (18 per cent), real estate (9 per cent) and manufacturing (5 per cent).

Baring PE's investment of USD 400 million in Hexaware Technologies for a 41.8 per cent stake was one of the biggest deal of the quarter ended September 30, 2013.

Other major PE deals announced during the quarter include e-commerce major Flipkart raising USD 200 million from its existing investors, including Naspers, Accel and Tiger Global.

TPG Capital's 23 per cent stake acquisition in Shriram City Union for USD 194 million was the other major deal, and Blackstone's USD 110 million investment in Agile Electric and Softbank's USD 75 million investment in Jasper Infotech were among the other major PE deals.


Go to Top

Photo Gallery
Rishi Nair of Florida bites his metal after winning the 2016 National Geographic Bee...

Rishi Nair of Florida bites his metal after winning the 2016 National Geographic Bee...

Vehicles moving on a road during a dust storm in Bikaner...

Vehicles moving on a road during a dust storm in Bikaner...

Buddhist monks protest at Jantar Mantar in New Delhi on Thursday against killing of Tsering Tempa...

Buddhist monks protest at Jantar Mantar in New Delhi on Thursday against killing of Tsering Tempa...

College girls dressed in traditional attire perform cultural show during anniversary of NDA govt...

College girls dressed in traditional attire perform cultural show during anniversary of NDA govt...

Models walk on a ramp during fashion show of students of National institute of fashion technology...

Models walk on a ramp during fashion show of students of National institute of fashion technology...

President Pranab Mukherjee garlanding the bust of Tagore at Peking University...

President Pranab Mukherjee garlanding the bust of Tagore at Peking University...

Women of a tribal community take part in pitcher race during a tribal festival in Birbhum district..

Women of a tribal community take part in pitcher race during a tribal festival in Birbhum district..

The stray nilgai calf that was running frenzied near the Parliament House being rescued...

The stray nilgai calf that was running frenzied near the Parliament House being rescued...

A baby monkey continue to suckle as its mother try to quench its thirst from a drinking water tap...

A baby monkey continue to suckle as its mother try to quench its thirst from a drinking water tap...

World leaders at the start of the second working session of the G-7 summit meetings in Shima...

World leaders at the start of the second working session of the G-7 summit meetings in Shima...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523