Harish HV, partner, Grant Thornton India LLP says August was a dull month for the merger and acquisition (M&A) space in India and September is likely to follow the same trend.
Speaking to CNBC-TV18, Harish says that while no large billion dollar deal seems to be on the anvil, a good volume can be expected this month.
Futhermore, he adds that the e-commerce and dot com space is one of the favourites among private equity players.
Below is the transcript of Harish HV’s interview with Nayantara Rai on CNBC-TV18.
Q: Tell us how the month of August faired?
A: August has been a slightly dull month relative to the previous months in terms of some big ticket deals. However, we see the overall trend continuing in terms of both quantity of deals at least. Value of deals has taken a little bit of dip. We have seen some very interesting deals in the infrastructure and manufacturing sector among the corporate M&A. We continue to see an uptick in the private equity as we go along. Cross-border deal are also chugging along.
Overall, I would say it was a little dull month. We didn’t see any of the mega deals like the Amazon or the Filpkart which happened in the month before. To that extent the values, I see a little bit of dip. However, we are seeing a secular growth trend in M&A in this country.
Q: August has been a dull month, what are the indications that you are getting as far as the month of September goes?
A: We are already into September and we would expect probably a similar month like August, good volume but there is nothing which is visible in the horizon which shows that a large billion dollar, multi million dollar deal is happening. However, you never know, we could always have surprises in that. Again private equity is very strong in the e-commerce and dot com space and we will see more of that in the months coming.
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