Jan-Mar PE inflows drop 51% to $2.4 bn
Private equity inflows into the country dipped 51 per cent to $2.4 billion in January-March 2016 in 301 deals compared to the preceding quarter, indicating a lean period in deal activity, says a report. This was 47 per cent lower than inflows of $4.5 billion in January-March 2015 quarter, the report by investment banking firm Merisis Advisors said.
The top PE deals in the quarter included Naspers infusing a further $250 million in ibibo Group and Snapdeal raising $200 million from Canada's Ontario Teachers' Pension Plan and others among others.
Besides, angel and seed investments grew in volume but slowed down in value terms. "Deal volume for angel/seed investments was up 37 per cent to 189 deals in the said quarter from 138 deals a year ago.
Deal value however slipped 32 per cent to $58 million during the same period," it said. Also, exits saw a lackluster performance dipping to a 15-quarter low in value terms. Deal value slipped by 70 per cent from $1.7 billion in the fourth quarter FY2014-15 to $508 million in January-March FY16.