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In the largest deal during the month, Government of Singapore Investment Corporation (GIC) picked up around 2.6% stake in Kotak Mahindra Bank for $239 million
There has been a rebound in level of private equity investment in the month of April with $749.5 million invested across 52 deals compared to $568.4 million for the same period last year, as per data from Four-S Services. This was largely on the back of one mega $200 million plus deal during the month, the largest so far in year 2013.
The year 2013 has so far aggregated $1.79 billion worth of investments (142 deals), a drop of 40% compared to $2.99 billion (181 deals) for the same period (Jan-April) last year. The average deal size also decreased from $23.1 million to $17.5 million during the same period. There has also been a drop in the number of $100 million mega deals—three such deals in 2013 compared to ten such deals in the same period last year.
In the largest deal during the month, Government of Singapore Investment Corporation (GIC) picked up around 2.6% stake in Kotak Mahindra Bank for $239 million. This was followed by $60 million investment in NSL Renewable Power by a consortium of investors including DEG, Proparco, Asia Clean Energy and GS Power Company. Realty company Supertech raised Rs $51.8 million from private equity firm Xander to fund its upcoming township project in Gurgaon.
During the month, BFSI sector topped the investment chart accounting for 40.7% of investments with a deal value of $305.3 million, including the largest transaction. The real estate sector occupied the second slot with five deals worth $103 million (13.7%). Retail companies (specialty, food and internet retail) aggregated $90.4 million (12.1%) worth of investments.