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Indian PE deal values reach $7.7b in 2011

  • Susannah Birkwood
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India private equity transactions experienced a 24% increase in value and volume this year, with 347 deals valued at a total of $7.7 billion reported during the period.

The deals were recorded by consultancy firm Grant Thornton as part of its annual Dealtracker report, and compare favourably with the $6.2 billion invested in 253 deals in 2010 and the $3.4 billion invested in 2009.

"Pure play PE has increased in both value and volumes over 2010," said Srividya CG, a partner at Grant Thornton India and practice leader in the firm's valuations department. "PE investments continued to see increasing levels of activity led by the real estate and infrastructure sectors."

Deals in real estate and infrastructure received the highest level of investment, followed by automotive, power and energy, banking and financial services, and IT and IT-enabled services.

One of the biggest transactions of the year was Bain Capital's acquisition of an $850 million stake in Hero Honda Motors in collaboration with Government of Singapore Investment Corp. (GIC). Other major deals included Apollo Global Management's $350 million cash injection for Welspun Corp and Texas Pacific Group's $257 million investment in Shriram Capital.

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