DEAL TRACKER - AUGUST 2021 - www.knavcpa.com - KNAV Accounting Firm
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DEAL TRACKER – AUGUST 2021 www.knavcpa.com
PE / VC ACTIVITY MONITOR
KNAV Deal Tracker | Month ended August 2021
For the month of August 2021, there were 185 private Deal Classification by Value (US$ mn)
equity & venture capital investments pertaining to India 3954
with reported values of US$ 7.16 bn.
Of the total 185 PE/VC deals, maximum number of
deals were entered by the companies at seed stage (46 729
deals), followed by companies at early stage (42 deals), 384
69
growth stage (27 deals) and late stage (21 deals). The
highest amount of funds were invested in the
companies at late stage (US$ 3.95 bn), followed by
growth stage companies (US$ 0.73 bn), and early-stage
companies (US$ 0.38 bn). The unclassified deal value Top Sectors by Value (US$ mn)
aggregated to US$ 2.02 bn.
2450
2017
The highest number of investments were made in the
Internet Sector (57 deals), followed by Technology
972
Sector (46 deals) and Healthcare Sector (13 deals). The 526
highest amount of funds were invested in the Internet 146 166 175 203
Sector (US$ 2.45 bn), followed by the Technology
Sector (US$ 2.02 bn) and Telecom & Media Sector (US$
0.97 bn).
TOP PE/VC DEALS
Investment
Investee Sector Investor Value Deal Highlights
(US$ mn)
Hinduja Global Solutions Ltd. divested its
healthcare services business to funds
Technology Baring Private Equity Asia 1,200 affiliated with Baring PE Asia for INR 8,902 Cr.
It aims to strategically invest these funds for
future growth.
Partners Group has bought a 76% stake in 2 Atria
Telecom & Convergence Technologies Ltd. at a valuation of
Partners Group 900
Media US$ 1.2 bn, thereby providing an exit to PE
firms True North & TA Associates.
EdTech company Eruditus became the 23rd
Accel India, Softbank, CPPIB, Naspers, The Chan
Internet 650 entrant in the 2021 Unicorn Club after raising
Zuckerberg Initiative, Leeds Illuminate
US$ 650 mn at a valuation of US$ 3.2 bn.
Verse Innovation, the parent of news
Baillie Gifford, The Carlyle Group, Sofina, Qatar aggregator Dailyhunt and video app Josh,
Internet 450
Investment Authority, B Capital, Siguler Guff raised US$ 450 mn thereby doubling its
valuation.
Source: KNAV analysis of PrivateCircle data
INR figures converted to US$ on an approximate basis (1 US$ = 74 INR)Top Sectors by Value (US$ mn)
M&A ACTIVITY MONITOR
KNAV Deal Tracker | Month ended August 2021
Of the total 87 merger and acquisition deals in the
month of August 2021, the highest deals were 4647
witnessed in the Healthcare Sector (14 deals), followed
by the Technology Sector (11 deals), Materials Sector
(10 deals), and Internet Sector (9 deals).
Out of the transactions, for which values were publicly
disclosed, the merger and acquisition investments for 25 56 77 125 216 299
21
the month amounted to US$ 5.51 bn. The largest deal
values were witnessed by the Internet Sector (US$ 4.65
bn), followed by Energy & Environment Sector (US$ 0.3
bn), Logistics Sector (US$ 0.22 bn) and Technology
Sector (US$ 0.13 bn).
Domestic deals were the most common, with 50 out of Deal Classification by Value (US$ mn)
the 87 deals (i.e., 57.47% of the deals, with total value
of US$ 0.42 bn). This was followed by Inbound deals Domestic, 416 Inbound, 188
constituting 10 out of 87 deals (i.e., 11.5% of the deals,
Outbound,
with total value of US$ 0.19 bn). Lastly, there were 7 155
Outbound deals with total deal value of US$ 0.16 bn.
Others,
4751
TOP M&A DEALS
Deal Value
Target Acquirer/s Sector Deal Highlights
(US$ mn)
Prosus’ payments arm PayU has agreed to acquire Indian digital
payments provider BillDesk for US $4.7 bn. PayU said the proposed
Internet 4,700 acquisition will make the payments and fintech business of Prosus, one
of the leading online payment providers globally by Total Payment
Volume (TPV).
Samara Capital, Xponentia Capital and India Equity Partners have exited
their ownership in SpotOn Logistics with 100% sale to Delhivery Private
Logistics 216 Limited. Delhivery had established a leading position in B2C logistics and
with this acquisition, it aims to strengthen its B2B vertical ahead of a
planned IPO.
Reliance New Energy Solar Ltd (RNESL) strategically acquired a stake in
Reliance New Energy Energy & Ambri Inc along with other investors including Paulson & Co. Inc. and Bill
144
Solar Limited Environment Gates. RNESL’s investment in Ambri is part of their plan to develop the
Dhirubhai Ambani Green Energy Giga Complex.
L&T has entered into an agreement to transfer ownership of its 99 MW
power plant in Rudraprayag in Uttarakhand to ReNew Power, marking the
Energy &
133 entry of Sumant Sinha-led company into hydropower space. ReNew Power
Environment
Services Private Limited is a wholly owned subsidiary of Renew Power
Private Limited.
Source: KNAV analysis of PrivateCircle data
INR figures converted to US$ on an approximate basis (1 US$ = 74 INR)Top Sectors by Value (US$ mn)
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