Deal activities in India have fallen drastically
The overall deal activities fell drastically to $1.6 billion in value terms in August, with the Indian companies conducting 95 deals during the month. This compares with $8.39 billion in July across 110 deals, which had some large deals such as Reliance-Jaypee, Diageo-United spirits and PE deals including investment in Flipkart, according to Grant Thornton India’s Dealtracker report. Under-deals, Grant Thornton India – an assurance, tax and advisory firm – covers mergers and acquisitions, private equity and stake stale among others.
August has been a relatively dull month, Harish H.V., Partner at Grant Thornton India said. However, we see the overall trend continuing in terms of quantity of deals. We have seen some very interesting deals in the infrastructure and manufacturing sector among the corporate M&A, and we continue to see an uptick in the private equity and cross-border deals as we go along he added.
On the private equity front, Tiger Global and Bharti Softbank Holdings’s investment of $65 million in Hike Technologies, Falcon Edge Capital and Rocket Internet’s investment of $60 million in Foodpanda and Metmin Investment’s acquisition of Avigo’s stake in Spykar Lifestyle stood out during the month. The month also saw two QIP worth $204 million that of Prestige Estates and Karur Vysya Bank.
Source: The Hindu Business Link
Bharti Softbank Holdings, Diageo-United spirits, Grant Thornton India, Investment, PE deals, Prestige Estates, Reliance-Jaypee, Tiger Global
