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Will buyouts boss the 2013 India Awards?

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India buyouts have crossed the $1 billion threshold in only two years since private equity first came to the country. Those years were, unsurprisingly, 2006 and 2007, the peak of the pre-global financial crisis boom, when total PE investment reached $7.7 billion and then the all-time high of $17.9 billion.

Nine months into 2013 and buyout deal flow is once again within touching distance of the $1 billion mark. India has seen 15 transactions and the grand total is $954.7 million. Indeed, depending on how one classifies KKR's $470 million acquisition of Alliance Tire Group - the company is international and was founded in Israel so AVCJ Research classifies it as coming from that jurisdiction, although others would beg to differ - this might already be India's best buyout year on record.

So far, the overall vintage has not proved particularly stellar. Private equity firms have deployed $6.2 billion (not including Alliance), lower than the full-year totals for each of the previous three years. It would take a busy final quarter to surpass the 2010 and 2011 figures, although the $7.1 billion of 2012 is a realistic target.

What this means is that the buyout concentration is unusually high - 15%, lower than the 19% of 2006 but well in excess of the 6% posted in 2007 and anything since then. A few big deals make a lot of difference: Partners Group's $270 million acquisition of business process outsourcing firm CSS Corp; Baring Private Equity Asia's (BPEA) $262 million investment in Hexaware, which could pass $400 million once a mandatory tender offer kicks in, are the largest buyouts in seven years.

These transactions, alongside BPEA's $260 million investment in Lafarge India - a growth deal but perhaps a sign of what is to come - will likely feature prominently in the 2013 AVCJ India Awards. A cluster of cleantech investments may also come into the reckoning for Private Equity Deal of the Year.

Today we invite AVCJ readers to have their say. Nominations for the 4th annual India Awards are now open and will remain so until October 31. Submissions should relate to India investment, exit and fundraising activity between November 1, 2012 and October 31, 2013. The categories are listed below.

For more details of the process, rules and qualification criteria, or to make a nomination, please go to www.avcjforum.com/awards. Alternatively, nominations can be submitted by email (avcjawards@incisivemedia.com).

The AVCJ Editorial Board will evaluate the entries and submit long lists to a select panel of industry judges. The judges will consider these recommendations and final short lists will be drawn up in consultation with the AVCJ Editorial Board.

The shortlists will be posted online for the entire private equity and venture capital community to vote on from November 8 until November 22. The AVCJ subscriber base has a 50% say in the final result, with the judges and the AVCJ Editorial Board each accounting for 25%.

The winners will be announced at a gala dinner in Mumbai on December 5, during the AVCJ India Forum.

THE 2013 INDIA AWARDS CATEGORIES:

  • Firm of the Year
  • Private Equity Professional of the Year
  • Exit of the Year
  • Private Equity Deal of the Year
  • Venture Capital Deal of the Year
  • Fundraising of the Year

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