Indian companies nab 360 private equity deals worth a combined USD8.9 billion

November 18
7:18 AM 2013

Companies in India inked at least 360 private equity deals totaling USD8.9 billion in the first ten months of the year. The number of private equity deals increased by 33%, while its total value increased by 14% compared to last year's figure.

The Economic Times, citing a report by Grant Thornton, said that Indian companies closed 345 transactions worth USD6.7 billion in the January-October period of 2012. Grant Thornton is a global accounting and advisory firm based in Chicago, US. 

According to the report, Red Fort Capital's USD161 million investment in Lotus Green Developers and four others accounted for 63% of the total private equity deal values. 

The other major deals included Morgan Stanley Investment Management's USD160 million funding granted to Flipkart and KKR & Co.'s INR550 crore investment in Prathap C Reddy Investments (PCR), which is Apollo Hospitals Group's holding company, Economic Times said. 

Other deals that make up the top five deals in October also included Warburg Pincus' acquisition of a 30% stake in Biba Apparels for USD56.45 million and Actis' USD48 million investment in Symbiotec, the report said.  

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