PE/VC investments in Apr touch USD 2.4 bn on large deals: EY
New Delhi: Private equity and venture capital investments in April were up 23 per cent at USD 2.4 billion, backed by large deals in sectors like e-commerce and life sciences, says an EY report.
According to EY, there were 69 PE/VC deals in April worth USD 2,370.09 million, while the corresponding month of 2017 had registered 66 such deals worth USD 1,920.32 million. "PE/VC deal activity in India continues to gather steam and become more robust.
Both investments as well as exits are on an upward trend," said Vivek Soni, Partner and Leader for Private Equity Advisory, EY.
Exits also recorded a significant growth of 47 per cent in terms of value during the same period, primarily on account of a single large exit by Actis worth USD 692 million. Soni said the recently announced majority acquisition of Flipkart by Walmart is expected to re-rate the Indian startup sector.
"We believe it will inject new found enthusiasm and energy into the early to mid-stage investing eco-system and inspire many more entrepreneurs," he said.
The next 4-5 years are expected to be the golden age for the Indian PE/VC sector, provided there is stability in the political as well as policy front, he said.
The largest investment in April 2018 saw Softbank invest USD 400 million for a 21 per cent stake in Paytm Mall.
This was followed by couple of deals in the life sciences sector - USD 350 million investment in Mankind Pharma by ChrysCapital GIC and CPPIB for a 10 per cent stake, and Apax Partner's USD 350 million acquisition of Healthium Medtech, a maker of surgical equipment.
Shares of Tesla Inc (TSLA.O) fell more than 4 percent in trading before the bell, after a report that the electric car maker has turned to some suppliers for a refund of previously made payments in a bid to turn a profit.
U.S. private equity firm Blackstone Group (BX.N) has secured EU antitrust approval to acquire a majority stake in Thomson Reuters’ (TRI.TO) Financial and Risk unit, the European Commission said.
"I will take tuition from you," Javadekar told TMC leader and Professor Saugata Roy as they differed over the use of the word 'predatory journals' in the Lok Sabha.
European Commission President Jean-Claude Juncker will not arrive in the United States for talks with U.S. President Donald Trump with a specific trade offer, the Commission said.
Kejriwal welcomed the SC's order that said there cannot be a "complete ban" on holding protests and sit-ins at places like Jantar Mantar and Boat Club.
The station, which was named after Lord Elphinstone, the Governor of Bombay Presidency from 1853 to 1860, has now been renamed in honour of a local deity.
Lavasa -an ultimate getaway, a city that would offer the charms of European locales, with five star comforts in a scenic part of Maharashtra has now become an abandoned town.
A second chargesheet by the ED has confirmed the trail of illegal cash Mallya transferred to his accounts across global tax havens.
Delayed payment by GMR-led DIAL, the Delhi airport operator, to the CISF guards could eventually lead to passengers paying more to fly out of the Indian Capital.
The West Bengal Police has claimed to have busted a Rs 100 crore plus job racket in the Indian Railways following a crucial arrest in the Indian Capital.