India Inc M&A drive slows down in July
The total number of deal has decreased to 59 in July compared to 63 in June, according to the latest report by global consulting firm Grant Thornton.
By PTI |
NEW DELHI: India's M&A activity slowed down in July with the total value falling to $940 million, against $1.72 billion in June even as deals like Reliance Communication's buyout of the US-based Yipes Holding and Biocon's acquisition of Novozymes were announced last month.
The total number of deal has decreased to 59 in July compared to 63 in June, according to the latest report by global consulting firm Grant Thornton.
There were 26 domestic deals, with both the acquirer and target being Indian firms, with an announced value of $0.19 billion and 33 cross-border deals with an announced value of $0.75 billion.
Out of 33 cross-border deals, 22 were outbound with a value of $0.49 billion and 11 were inbound worth about $0.26 billion, the report said.
The significant deals announced in July include Anil Ambani Group firm's Reliance Communications' acquisition of Yipes Inc for $300 million, Megasoft's buying of 83 per cent in Boston Communications Group for $65 million and Biocon's purchase of Denmark's Novozymes for $115 million.
Some of the leading domestic deals in the month included Mahindra and Mahindra's acquisition of further 20 per cent stake in Punjab Tractors for $101.73 million and Hindalco's increasing stake to 100 per cent in Utkal Alumina International.
The total number of private equity deals during the month stands at 30 for 2.79 billion dollar against 36 deals valued at $1.81 billion in June.
Some examples of PE investment are Baring Private Equity's $35 million in JRG Securities, Infrastructure Development and Finance Corporation's (IDFC) investment of $5.81 million in Andhra Cements during the last month.
The total number of deal has decreased to 59 in July compared to 63 in June, according to the latest report by global consulting firm Grant Thornton.
There were 26 domestic deals, with both the acquirer and target being Indian firms, with an announced value of $0.19 billion and 33 cross-border deals with an announced value of $0.75 billion.
Out of 33 cross-border deals, 22 were outbound with a value of $0.49 billion and 11 were inbound worth about $0.26 billion, the report said.
The significant deals announced in July include Anil Ambani Group firm's Reliance Communications' acquisition of Yipes Inc for $300 million, Megasoft's buying of 83 per cent in Boston Communications Group for $65 million and Biocon's purchase of Denmark's Novozymes for $115 million.
Some of the leading domestic deals in the month included Mahindra and Mahindra's acquisition of further 20 per cent stake in Punjab Tractors for $101.73 million and Hindalco's increasing stake to 100 per cent in Utkal Alumina International.
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The total number of private equity deals during the month stands at 30 for 2.79 billion dollar against 36 deals valued at $1.81 billion in June.
Some examples of PE investment are Baring Private Equity's $35 million in JRG Securities, Infrastructure Development and Finance Corporation's (IDFC) investment of $5.81 million in Andhra Cements during the last month.
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