Private equity firms in India invested about $2,273 million across 89 deals during January-March quarter.According to Venture Intelligence, a research service focused on private company financials, transactions and valuations in India, the investments were almost twice of what was invested in the same period last year.
During January-March quarter last year, $1,179 million was invested across 103 transactions.These figures do not include PE investments made in the real estate sector, the report said, adding that there were five PE investments worth $100 million or more during the first quarter of 2014, compared to just one such transaction in the same period last year.
The top two PE transactions during January-March period this year involve Canadian and Middle Eastern investors teaming up to invest into infrastructure operating companies in India.Other major transactions were from the IT & ITES industry, including the $260-million buyout of Aditya Birla Group’s BPO unit Minacs by CX Partners and Capital Square Partners; the $143 million raised by e-commerce firm Snapdeal.com and General Atlantic’s $100-million commitment to healthcare software firm Citius IT.eBay again teamed up with existing PE/VC investors to provide $90 million in follow-on financing to online classified services firm Quikr.
While IT & ITES companies accounted for $895 million at the top slot, energy and engineering & construction companies vaulted to the second and third favourite positions, attracting $414 million and $324 million, respectively, it added.
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