October 2008
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PE firms to continue Indian media investment

Private equity players are expected to continue investing in the Indian media and entertainment segment in a big way as domestic consumption is undeterred by the global financial crisis, said Mohit Ralhan of Baring Private Equity Partners to Televisionpoint.com. Ralhan said, “The discretionary expenses would rise Due to the increasing middle class and rising per capita income paving the way to achieve compounded annual growth rate (CAGR) of 18.5 per cent of this sector. It will ensure the flow of private equity investment in this segment in the near future.” “In the last year 40 private equity players invested in the media and entertainment segment and this year the trend is expected to continue. […]

Why PE, VC funding in India remains buoyant

Since the beginning of this year, India’s stock markets have shed some 42% in value and industrial production has decelerated. But, private equity (PE) and venture capital (VC) investments in the country have been resilient, surprising watchers of the risk capital business. Provisional data from research service Venture Intelligence shows that $9.7 billion, or Rs46,075 crore, has been invested in PE and VC-backed transactions in India between January and September, against $9.5 billion in the first three quarters in 2007. The data excludes real estate deals. […]

PE firms may invest $300 mn in MetroCorp

At a time when the country’s real estate builders are reeling from a severe cash crunch, MetroCorp, a Bangalore-based realtor, is close to raising $300 million (about Rs 1,400 crore) from leading global financial institutions, including Prudential Corporation Asia and Warburg Pincus. MetroCorp, a three-year-old real estate developer, has three projects under execution, and has lined up a bouquet of 21 projects across India, ranging from residential and commercial to integrated townships to special economic zones. Deepak Krishnappa, chairman & CEO, refused to confirm the move but said they are in discussions with various private equity funds for development of plots. […]

PE firms face a realty check during market meltdown

The average size of private equity deals in real estate has come down by an annual 60% to Rs 190 crore as the deteriorating market conditions have forced investors to take smaller exposures. The total PE investments have reduced significantly, while the number of deals has remained almost stagnant. “While there has been a dip in the total amount committed in the second quarter of 2008, the wait-and-watch strategy adopted by PE funds scouting for opportune partners will force Indian developers to re-work their valuations and construction timelines and make them more reasonable,” says Cushman & Wakefield India joint MD Sanjay Dutt […]