PEs invest $1.8 bn via 91 deals in Q1

Agencies : New Delhi, Thu Jun 21 2012, 19:08 hrs

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Private equity firms in India invested USD 1.8 billion through 91 deals in the first quarter of 2012, a jump of 57 per cent in value terms compared to the fourth quarter of 2011.

"PE investors continue to be enthusiastic about prospects of India's future growth; however, the investment activity will likely remain volatile given an uncertain global environment," PricewaterhouseCoopers LLP Global Technology Industry Leader Raman Chitkara said in a MoneyTree India Report.

On-year-on-year basis, however, the first quarter of 2012 saw PE investment dropping by a whopping 50 per cent in dollar terms, the report based on Venture Intelligence data said.

A sector-wise analysis shows that the healthcare and life sciences sector saw investments worth USD 530 million through 14 deals, while engineering & construction sector got USD 203 million by way of eight deals.

The information technology and IT-enabled services (IT & ITeS) sector garnered the largest number of PE deals in the first quarter, with 35 deals totalling USD 263 million. The banking, financial services & insurance (BFSI) sector deal value surged to USD 272 million, through 11 deals.

The report further noted that "textiles & garments, shipping & logistics, engineering & construction and FMCG sectors all experienced growth in dollars compared to the previous quarter. However, sectors including manufacturing and energy declined in both dollars and number of deals.

Region-wise, Mumbai received the highest level of funding in India during the first quarter, with USD 412 million, a 23 per cent share of the total PE investments and an 81 per cent rise in dollar value over the prior quarter.

Bangalore garnered the second highest share of funding in India, at 21 per cent, with USD 369 million going into 20 deals. Additionally, Chennai experienced a 407 per cent jump in Q1 2012 compared to Q4 2011, propelled by two large deals in the BFSI space.

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