India's private equity investments fell 23.4% in 2022 - S&P

Cohance Lifesciences

28/02/2023 11:17

Feb 28 (Reuters) - Private equity (PE) investments in
India dropped 23.4% in 2022 from a year earlier, a report from
S&P Global Market Intelligence showed on Tuesday.
    The decline mirrored a global fall in PE deals as high
inflation and rising interest rates dented sentiment, and as
fears of an economic downturn prompted Indian startups to slash
thousands of jobs in recent months.
    India's PE investments fell to $28.27 billion in 2022, while
China, the largest economy in the region, posted a 45.1% decline
to $70.86 billion, the report said.
    However, India's share of the total percentage of PE
investments in Asia region rose to 25.1% in 2022 from 11.9% in
2020 - as China's share dropped, S&P said.
    Some of the major PE deals last year included a $2.42
billion investment in Sembcorp Energy India, the Indian arm of
Singapore-based Sembcorp Industries  SCIL.SI , and a $1.11
billion investment in Indian pharmaceutical company Suven
Pharmaceuticals Ltd  SUVH.NS , the report added.

 (Reporting by Kashish Tandon; Editing by Sohini Goswami)
 ((Kashish.Tandon@thomsonreuters.com;))