| India M&A on the Rise Despite Crisis |
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Corporate India clocked $3.4 billion worth of M&As during November 2008, compared to $2.13 billion in the previous month (October 2008). The tally looks good even when compared to November 2007 ($850 million). "We saw record levels of mergers and acquisition (M&A) in 2007, but 2008 has also been a good year for M&A despite the choppy markets,'' said Harish H V, partner at Grant Thornton, handling transaction advisory services. "Indian M&As have touched $32 billion with 433 deals in the first 11 months which is a sign of maturity in the market,'' he added. "If one takes into account the dip in valuations, this figure is comparable to the 2007 figure of $51 billion. Similarly, PE deals at $11 billion, despite the depressed valuations, show the confidence in the Indian economy,'' he said. Analysts have noted that they expect the same levels of activity to continue in the near term and a reasonable increase in investments in the medium to long run.Source: The Times of India |