PE funding dips 7.7% to $3.44 bn across 260 deals in Q1
PTI
Mumbai |
Updated on
× Fund infusion by private equity funds declined almost 8 per cent in the March quarter this year to $3.44 billion across 260 deals, according to industry data.
Though the value of private equity investments declined 7.7 per cent in Q1, the number of deals soared by 44 per cent to 260 from 180 in Q1 of 2020, shows the data collated by the London Stock Exchange Group-owned Refinitiv that tracks global financial transactions and market action.
Overall, 2020 saw the highest number of deals since 2010 with 810 private equity deals worth $34.44 billion.
Software companies attracted the maximum PE interest in Q1 this year with $1,348 million equity invested compared to internet-specific companies in Q1 of 2020 with $2,053 million equity investment.
PE funding dips 7 7% to $3 44 bn across 260 deals in March quarter
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Exclusive | Want to de-link from China, be a global brand: boAt Lifestyle CEO Sameer Mehta
In an interview with Moneycontrol, Sameer Mehta, CEO of boAt Lifestyle- the headphones and audio brand talks about the importance of local manufacturing, what makes boAt different, and provides insight into one of India s hottest new consumer brands
Mumbai / January 11, 2021 / 12:23 PM IST
Last week, global private equity giant Warburg Pincus- which manages over $80 billion in assets-led a $100 million round in Imagine Marketing Pvt. Ltd, which runs the boAt brand of earphones, audio and other accessories. The deal is an important one for a few reasons. boAt has raised less than $10 million in equity in the four years it has been around, and the $300 million valuation this round also gave a handsome part payout to its founders, Sameer Mehta and Aman Gupta.
The main equity indices closed mildly lower on Thursday. Buying was seen in metal, realty and financial stocks while FMCG, IT and pharma shares corrected. As per the provisional closing data, the S&P BSE Sensex, fell 80.74 points or 0.17% at 48,093.43. The Nifty 50 index fell 8.9 points or 0.06% at 14,137.80.
The broader market outperformed the benchmarks. The S&P BSE Mid-Cap index added 1.05% while the S&P BSE Small-Cap index rose 0.85%.
Buyers outpaced sellers. On the BSE, 1974 shares rose and 1101 shares fell. A total of 152 shares were unchanged. In Nifty 50 index, 27 stocks advanced while 23 stocks declined.
Foreign portfolio investors (FPIs) sold shares worth Rs 483.64 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 380.41 crore in the Indian equity market on 6 January 2021, provisional data showed.
Dixon Technologies (India) jumped 4.45% to Rs 15,105.05 after the company entered into an agreement with Imagine Marketing ( boAt ) for manufacturing of twin wireless speakers.Dixon Technologies (India) and boat have entered into agreement for manufacturing twin wireless speakers. Dixon will be manufacturing the products from its facility in Noida, Uttar Pradesh.
Commenting on this association, Atul B. Lall, the vice chairman & managing director of Dixon Technologies (India), has said that: boAt is the leader in the earwear segment. Their high-quality audio devices are known for their style and efficiency. We are delighted and encouraged by the trust they have bestowed on Dixon for this collaboration. Dixon Group is committed to have pivotal impact in making India an Atmanirbhar Bharat backed by our commitment and performance.
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