India's outbound buyouts grow 34%: Dealogic

Inbound M&A volume dips by 65% at $10.5 billion so far this year

Indian firms have made $14.5 billion worth of outbound acquisitions so far this year, a growth of 34% as compared to the $10.9 billion worth deals in the same period in 2011. One of the major deals which pushed the size is Oil & Natural Gas Corporation's (ONGC) $5-billion bid for oil & gas assets in Kazakhstan which was also the fourth-largest outbound acquisition by an Indian buyer on record.

According to the report from Dealogic Holdings, inbound M&A volume has dipped by about 65%, stands at $10.5 billion so far this year, compared to the $30 billion worth deals announced in the same period last year. Diageo's $2.6-billion bid for United Spirits in November stands as the second-largest India-targeted M&A transaction in 2012 and the seventh-largest inbound M&A deal into the nation on record.

 

Size of India-targeted M&A volume stood at $43.3 billion so far this year, down 2% year-on-year. Domestic M&A accounts for 76% of total India-targeted M&A with $32.9 billion, the report said.

Indian Equity Capital Market (ECM) volume has reached $12.3 billion so far in 2012, a 51% increase on the $9.8 billion raised in the same 2011 period. Total India Debt Capital Market (DCM) volume has climbed to $40.5 billion so far in 2012, up 3% year-on-year and marks the highest level till date behind 2010 ($43 billion), the report added.

Goldman Sachs leads the M&A advisory table with 11 deals worth $21 billion, while Citi stands next with 16 deals worth $19.7 billion.