Millennium Post

India Inc strikes 393 PE deals totalling $9.67 billion in Jan-Nov

According to global assurance, tax and advisory firm Grant Thornton, in the January-November period of last year, corporate India had signed 380 private equity deals amounting to $7.09 billion.

Meanwhile, the month of November saw 32 deals amounting to $708 million, which was almost double in value terms over last year when there were 35 transactions worth $388 million.

‘The year-to-date deal value in 2013 increased by 36 per cent as compared to year-to-date November 2012 values,’ the report said, adding that ‘PE activity in November 2013 were largely driven by the pharmaceutical sector.’

KKR's investment of $200 million in Gland Pharma Ltd was termed as the deal of the month. Other major private equity deals of November include Baring Private Equity's $131.61 million investment in Hexaware Technologies; International Finance Corporation's $125 million investment in Yes Bank and Sequoia Capital and Info Edge's $37 million investment in Zomato Media. According to the report, the top five PE deals accounted for 73 per cent of the total PE deal values.

A sector-wise analysis shows that IT&ITeS attracted deals worth $243 million that amounted to 34 per cent of the total deal pie, followed by Pharma ($201 million, 28 per cent); Banking and financial ($154 million, 22 per cent); Power & energy ($44 million, 6 per cent) and real estate ($40 million, 6 per cent).

MFs garner Rs 1.5 lakh cr in Apr-Nov

New Delhi: Investors have put in more than Rs 1.5 lakh crore in various mutual funds schemes in the ongoing financial year, nearly twice the amount pumped in by them in entire 2012-13 fiscal.

As per the latest data available with Sebi, there was a net inflow of Rs 1,50,675 crore during the 2013-14 fiscal (April-November) as against a net inflow of over Rs 76,000 in the preceding fiscal.

Prior to that, a net amount of more than Rs 22,000 crore and over Rs 49,000 crore moved out of the mutual funds' kitty during 2011-12 and 2010-11, respectively. Mutual funds pool together money from many investors and invest it on their behalf, in accordance with a stated set of objectives.

At a gross level, mutual funds mobilised over Rs 63 lakh crore during April-November period of this year, while there were redemptions worth Rs 61.5 lakh crore as well. This resulted in a net inflow of Rs 1,50,675 crore.

According to industry experts, mutual fund investors have put in most of their money in debt schemes during April and May on the anticipation of interest rate cuts by the Reserve Bank of India (RBI).

‘As prospects of faster interest rate cuts by the RBI spurred investors into buying debt schemes. They expected that investment into debt funds will give good return,’ Debashish Mallick, managing director and CEO at IDBI MF said.
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