From Lenskart to Ola Electric: 10 biggest private equity deals of 2023

Private Equity investments in India fell by 65.7 per cent year-on-year during the first nine months of 2023, according to data analysed by Refinitiv.

Private equity investments in the third quarter of 2023 totalled $1,813 million, a 35.2% sequential decline from the second quarter of 2023 ($2,799 million) and fell 65.4% compared to Q3 2022 ($5,233 million). The total number of deals in Q3 2023 decreased by 34.3 per cent to 232 compared to the previous quarter of 353. 

The deals decreased by 50.1 per cent compared to the 465 deals in Q3 2022.

In terms of industry-specific investments, Internet Specific, Computer Software and Transportation have seen the maximum investments in the first nine months of 2023. The sum of equity invested in the Internet Specific sector has decreased by 63.2%, with the number of deals declining to 283 (9M 2023) from 414 in the year-ago period. 

 

Computer Software (-74.9% yoy), Financial Services (-79.9% yoy), as well as Consumer Related (-72.1% yoy) have witnessed a decline in the sum invested as compared to the first nine months of 2022. However, industries catering to Industrial/Energy (30.8% yoy), Semiconductor and Electrical (64.2% yoy), have experienced an increase in the sum equity invested.

Fundraising activity for funds located in India saw a 31% decline compared to a year ago and amounted to $6  billion during the first nine months of 2023.

Here are the Top 10 PE Investment Deals in the first nine months of 2023