New Delhi, April 8 (IANS) With 469 deals worth $24.5 billion, the first quarter of this year saw an unprecedented surge in dealmaking in the country (both in volume and value terms), a report showed on Monday.
The resurgence was driven by factors like robust private equity (PE) activity, a notable rebound in initial public offerings (IPOs), and a series of high-value transactions, according to the ‘Grant Thornton Bharat Dealtracker.’
The mega-merger between Reliance and Disney, valued at $8.5 billion, was the deal of the quarter (January-March period).
“The uptick in PE activity, highlighted by the emergence of two unicorns and high-value deals across traditional sectors, provides hope for continued growth and investment opportunities,” said Shanthi Vijetha, Partner, Growth, Grant Thornton Bharat.
With upcoming events such as the elections, coupled with a strong pipeline of deals and increased attention from private capital, the outlook for 2024 remains optimistic, Vijetha added.
The PE landscape saw 307 deals totalling $8.1 billion, a 10 per cent increase in volumes and a 51 per cent increase in values from the last quarter.
The top deal of the quarter was Data Investment Trust’s investment of $2.5 billion in ATC India Tower Corporation.
The quarter saw the emergence of two billion-dollar deals and eight high-value deals, collectively contributing to 70 per cent of the total PE deal values, the report added.
India also saw the birth of two unicorns — Krutrim SI Designs and Perfios.
“Traditional sectors like telecom and infrastructure, alongside retail and media, dominated deal values, while retail, IT, and banking led in terms of volumes,” the report noted.
–IANS
na/uk
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
