
AVCJ Forum India panel highlights growth, early days
The India panel at this year’s AVCJ Forum in Hong Kong highlighted both the Indian private equity market’s potential and its nascent status, in a debate conducted by Anil Ahuja, Head of Asia for 3i, Harjit Bhatia, Chairman and CEO of Asia Growth Capital Advisors, Gulpreet Kohli, MD with ChrysCapital Investment Advisors, and Mukund Krishnaswami, Founding Partner of Lighthouse Advisors India.
In the course of the debate, the GPs touched on how to build value in Indian companies, how to compete against – or work alongside – the public markets, and how to source opportunities. Bhatia compared India’s PE market to China’s in its early stages, and also noted that, as in China, firms should look further into the hinterland for the really interesting and keenly-priced deals. “If you want to see good deals, you have to go into the interior,” he said. Ahuja, meanwhile, noted that pressure from both PE firms and other more informal types of investor is growing fierce. “The competition is intense: there is a lot of money floating around,” he said. Bhatia concluded that in such a market, “the funds who finally succeed will be the ones who stay disciplined, who have the right processes.”
The lively debate before a packed room formed a curtain-raiser for the three days of discussions next month at the AVCJ Private Equity and Venture Forum India 2010.
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