PE players, advisory firms say the second half will see the same level of activity. Private equity (PE) investments are back. In the first half of calendar year 2010, total PE investments touched $4,571 million (around Rs 21,380 crore) across 138 deals (excluding real estate). This was a three-fold jump over the $1,508 million (around Rs 7,057 crore) invested in 111 deals during the same period last year, said a study by Venture Intelligence, a research service focused on PE and merger and acquisition (M&A) activity in India. In the quarter ended June 30, PE firms invested about $2,364 million (around Rs 11,063 crore) in 67 deals. This was 2.6 times more than in this period last year (which saw $890 million being invested in 51 deals) and also higher than the quarter prior to that ($2,207million in 71 deals). With this, the amount invested by PE firms in India has climbed for the fifth successive quarter. […]

The fragmented media industry is heading for several mid-sized deals in coming quarters as cash-rich regional players try to expand, while larger but loss-making operators look to consolidate around core segments. The $12 billion media and entertainment industry, which has seen a handful of recent mergers, is poised for a wave of small to mid-sized deals across radio, television, newspapers and cable distributors, bankers and analysts said. “There is some appetite now for mergers and acquisitions,” said Jehil Thakkar, media analyst at KPMG Advisory, who expects deals worth a total $100-$150 million in the sector. “Industry is still recovering, not recovered. So people who need to cash-out will see it as an opportunity to do so in the next few months,” he said. […]

Forget weekends. It is business and days of big announcements on Sundays for industrialist Anil Ambani, contrary to golf and get-togethers for the rest of the corporate world. While June 18, 2005 — the day of separation for Anil from Mukesh Ambani with the division of the Reliance empire — was a Saturday, it was a Sunday five years later on May 23, 2010, when he announced a patch-up with his elder brother, burying their contentious non-compete agreements. Since then, there has hardly been a Sunday when he did not pull out his top lieutenants and officials from the comfort of their homes to do business and engage the media for a big exposure in Monday newspapers before the stock markets commence trading for the new week — a trend that group officials feel is a legacy from the days of his father, Dhirubhai. […]

Low delinquency rates, huge demand attract investors to the unique gold financing sector. The glitter of the yellow metal has resulted in gold financing companies attracting private equity (PE) money. But the low number of players in the segment may spoil things. For instance, Sequoia Capital, which acquired 11.5 per cent in Kerala-based Manappuram General Finance and Leasing (in 2007 and 2008, at Rs 145 a share and Rs 165 a share, respectively), earned almost five times its investment in less than four years. It exited this April after selling its entire stake for Rs 740 a share. India Equity Partners (IEP), a co-investor, stayed invested. But, according to sources, there was enough interest from PE players to buy IEP’s stake as well. Then there’s the Muthoot George group. One of the largest pure-play gold financiers, the group has put its initial public offer (IPO) on hold and is in discussion with four firms, including PE players and hedge funds, to raise money before the IPO. […]

The last few months have witnessed a spurt of private equity investments in the kidswear market in the country. In April, Delhi-based kidwears brand Lilliput had two rounds of PE infusion from Bain Capital and the Texas Pacific Group for a 35% stake in the company, followed by Catmoss selling around 30% stake to Hong Kong-based Saif Partners. The investment has been significant. Both Bain and TPG together pumped in more than Rs 350 crore in Lilliput, while the Catmoss transaction was estimated at Rs 70 crore. India’s kidswear market in organised retail, which is estimated at Rs 3,500 crore, is growing at an annual rate of 10%. The premium segment brands such as Lilliput and Benetton are vaulting at 20%. […]