South sees 64% drop in private equity investments

Private equity (PE) investments in south India dropped 64 per cent between April and September 2009 to $626 million from $1,752 million during the same period last year. The number of deals too dropped 48 per cent, according to Venture Intelligence, a research service focused on PE and M&A

Among the four states in the south, Andhra Pradesh attracted the highest investment in terms of value. The state attracted large ticket investments worth $239.7 million, followed by Karnataka at $218.1 million and Tamil Nadu at $168.4 million. PE investors stayed away from Kerala last year.

In terms of deals, a hotel project promoted by Bangalore-based Century Real Estate attracted $100 million in September 2009. The investor was Goldman Sachs.

Share Microfin saw IFC and others invest $50 million in May 2009 while Spandana too attracted investments worth $50 million in August 2009.