JM Financial Limited

February 2026

• Private equity investors invested USD 2,476 MM in 119 deals in February 2026 as compared to USD 1,821 MM in 82 deals in February 2025.
• Average deal size was USD 24 MM in February 2026 as compared to USD 24 MM in February 2025.
• In February 2026, Technology, Financial Services, and Industrials witnessed highest activity in terms of deal values accounting for about 31%, 22% and 15% respectively of the total Private Equity investments.
• Top deals of the month were:
  • USD 600 MM by Blackstone, Teachers’ Venture Growth and Others in Neysa.
  • USD 304 MM by Advent International in Aditya Birla Housing Finance.
  • USD 230 MM by Carlyle in Nido Home Finance.
  • USD 165 MM by ChrysCapital in Nash Industries.
  • USD 159 MM by ChrysCapital in Novartis India.
• Investment by Blackstone in Globetrotters Educational Innoventions (Jayshree Periwal International School).
• Private equity exits stood at USD 1,200 MM in February 2026 as compared to USD 4,049 MM in February 2025.
• Top exits of the month were:
  • USD 828 MM by Samayat Services LLP (Kedaara Capital and Partners Group) in Vishal Mega Mart via Secondary Sale.
  • USD 148 MM by Apax Partners and TPG Capital in Fractal Analytics via IPO.
  • USD 73 MM by True North and GIC in Home First Finance Company via Secondary Sale.

 January 2026

• Private equity investors invested USD 2,053 MM in 108 deals in January 2026 as compared to USD 4,172 MM in 96 deals in January 2025.
• Average deal size was USD 21 MM in January 2026 as compared to USD 50 MM in January 2025.
• In January 2026, Consumer, Technology and Power & Ancillary witnessed highest activity in terms of deal values accounting for about 19%, 17% and 17% respectively of the total Private Equity investments.
• Top deals of the month were:
  • USD 341 MM by CalPERS, Enam Holdings and Others in Inox Clean Energy & Inox Solar.
  • USD 167 MM by Apax Partners in iD Fresh Food
  • USD 133 MM by Warburg Pincus, Kedaara Capital and Mubadala in Avanse Financial.
  • Investment by Warburg Pincus in Fleur Hotels.
• Private equity exits stood at USD 523 MM in January 2026 as compared to USD 334 MM in January 2025.
• Top exits of the month were:
  • USD 214 MM by a consortium of investors including Samara Capital, Creador and TPG NewQuest in Sapphire Foods via Strategic
  • USD 135 MM by a consortium of investors including Premji Invest, Norwest Venture Partners and Accel in Amagi Media Labs via IPO
  • USD 56 MM by a consortium of investors including Eight Roads, IFC and TPG NewQuest in Shadowfax Technologies via IPO
  • USD 51 MM by Everstone Capital in Restaurant Brands Asia via Strategic Sale
  • Exit by SeaLink Capital Partners in Surya Hospitals via PE to PE

CY 2025

• Private Equity investors invested USD 33.3 BN in 1,056 deals in 2025 as compared to USD 28.4 BN in 953 deals in 2024.
• Average deal size was USD 35 MM in 2025 as compared to USD 33 MM in 2024.
• Top deals of the month were:
  • USD 1.6 BN by Blackstone and Lunate in Aadhar Housing Finance.
  • USD 1.6 BN+ by a consortium of investors in Haldiram’s.
  • USD 1.5 BN by New Mountain Capital in Access Healthcare.
  • USD 1.1 BN by Blackstone in AGS Health.
  • USD 1 BN by IHC in SammaanCapital
  • USD 1 BN by TPG Rise in TCS’ HyperVault
  • USD 877 MM by Warburg Pincus and ADIA in IDFC First Bank
  • USD 706 MM by Blackstone in Federal Bank
  • USD 640 MM by KKR and OTPP in Vertis Infrastructure Trust
  • USD 600 MM by General Atlantic in PhonePe
• Private Equity exits stood at USD 28.7 BN in 2025 as compared to USD 26.1 BN in 2024.
• Top exits of the month were:
  • USD 6.4 BN by Temasek in Schneider Electric via Strategic Sale
  • USD 1.6 BN by Blackstone in Aadhar Housing Finance via PE to PE
  • USD 1.4 BN by KKR in J.B. Chemicals & Pharmaceuticals via Strategic Sale
  • USD 1.2 BN by Kedaara and Partners Group in Vishal Mega Mart via Secondary Sale
  • USD 1.1 BN by EQT in AGS Health via PE to PE
  • USD 1 BN by Carlyle in Hexaware Technologies via IPO
  • USD 727 MM by EQT in Sagility via Secondary Sale
  • USD 597 by Peak XV, Tiger Global among others in Groww via IPO
  • Advent International and Warburg Pincus in Encora via Strategic Sale
  • NIIF, BII and Eversource Capital in Ayana Renewable Power via Strategic Sale

November 2025

• Private equity investors invested USD 2,271 MM in 86 deals in November 2025 as compared to USD 3,016 MM in 82 deals in November 2024.
• Average deal size was USD 29 MM in November 2025 as compared to USD 40 MM in November 2024.
• In November 2025, Technology, Consumer and Consumer Tech witnessed highest activity in terms of deal values accounting for about 56%, 20% and 6% respectively of the total Private Equity investments.
• Top deals of the month were:
  • USD 1 BN by TPG Rise and Global South Initiative in TCS’ HyperVault AI Data Centers.
  • USD 282 MM by General Atlantic in Balaji Wafers.
  • USD 120 MM by Creador, Siguler Guff and Others in La Renon Healthcare.
  • USD 100 MM by Goldman Sachs and A91 Partners in Moengage.
• Private equity exits stood at USD 2,347 MM in November 2025 as compared to USD 2,104 MM in November 2024.
• Top exits of the month were:
  • USD 597 MM by Peak XV, Tiger Global, Ribbit Capital among others in Groww via IPO.
  • USD 534 MM by Blackstone in Mphasis via Secondary Sale.
  • USD 413 MM by EQT in Sagility via Secondary Sale.
  • USD 341 MM by Premji Invest, Temasek, Kedaara among others in Lenskart via IPO.
  • USD 144 MM by NIIF and Tiger Global in Ather Energy via Secondary Sale.
  • USD 113 MM by Peak XV, Temasek, Actis among others in Pine Labs via IPO.
     

October 2025

• Private equity investors invested USD 4,295 MM in 82 deals in October 2025 as compared to USD 2,356 MM in 93 deals in October 2024.
• Average deal size was USD 59 MM in October 2025 as compared to USD 32 MM in October 2024.
• In October 2025, Financial Services, Consumer Tech and Technology witnessed highest activity in terms of deal values accounting for about 49%, 33% and 6% respectively of the total Private Equity investments.
• Top deals of the month were:
  • USD 1 BN by International Holding Company (IHC) in Sammaan Capital.
  • USD 706 MM by Blackstone in Federal Bank.
  • USD 600 MM by General Atlantic in PhonePe.
  • USD 450 MM by CalPERS, General Catalyst, Avenir, Lightspeed and Others in Zepto.
  • USD 146 MM by Prosus in Ixigo.
  • USD 125 MM by General Atlantic, Prudent Investment Managers, Kae Capital, Elev8 Venture Partners and Others in Snapmint.
  • Private equity exits stood at USD 558 MM in October 2025 as compared to USD 773 MM in October 2024.
• Top exits of the month were:
  • USD 185 MM by Advent International in Aditya Birla Capital via Secondary Sale.
  • USD 132 MM by IFC in Tata Capital via IPO.
  • USD 118 MM by General Atlantic in Rubicon Research via IPO.

September 2025

• Private equity investors invested USD 2,246 MM in 89 deals in September 2025 as compared to USD 2,780 MM in 82 deals in September 2024.
• Average deal size was USD 27 MM in September 2025 as compared to USD 34 MM in September 2024.
• In September 2025, Consumer Tech, Technology and Industrials witnessed highest activity in terms of deal values accounting for about 30%, 23% and 19% respectively of the total Private Equity investments.
• Top deals of the month were:
  • USD 398 MM by Prosus and Westbridge Capital in Rapido
  • USD 240 MM by Kedaara Capital in Axtria.
  • USD 150 MM by TPG Growth in Tessolve.
  • USD 136 MM by ChrysCapital and InCred PE in ILJIN Electronics.
  • Investment by Blackstone in Ace Insurance Brokers.
  • Investment by Carlyle in Knack Global.
• Private equity exits stood at USD 2,226 MM in September 2025 as compared to USD 2,461 in September 2024.
• Top exits of the month were:
  • USD 351 MM by Advent International in Cohance Lifesciences via Secondary Sale.
  • USD 324 MM by Carlyle in Yes Bank via Secondary Sale.
  • USD 295 MM by Westbridge Capital in Aptus Value Housing Finance via Secondary Sale.
  • USD 280 MM by KKR and OTPP in Vertis Infrastructure Trust via Secondary Sale.
  • USD 192 MM by Brookfield in Energy Infrastructure Trust via Secondary Sale.
  • USD 162 MM by a Consortium of investors including Accel, Elevation Capital, Tiger Global in Urban Company via IPO

August 2025

• Private equity investors invested USD 1,767 MM in 85 deals in August 2025 as compared to USD 2,207 MM in 73 deals in August 2024.
• Average deal size was USD 23 MM in August 2025 as compared to USD 32 MM in August 2024.
• In August 2025, Financial Services, Infrastructure and Consumer Tech witnessed highest activity in terms of deal values accounting for about 31%, 23% and 15% respectively of the total Private Equity investments.
• Top deals of the month were:
  • USD 405 MM by Green Climate Fund , Australian Ethical Investment, Allianz Global Investors and Macquarie Green Energy in Vertelo.
  • USD 170 MM by Lightspeed Venture Partners, Premji Invest and Gaja Capital in Weaver Services.
  • USD 115 MM by a consortium of investors including Peak XV Partners, Trust Investment Advisors, Pharma Ventures in Metropolitan Stock Exchange.
  • USD 85 MM by a consortium of investors including Accel, Peak XV Partners in Truemeds.
  • USD 60 MM by Motilal Oswal Alternates and ABC Impact in Vistaar Finance 
  • Investment by Neo Infrastructure Income Opportunities Fund in H.G. Infra Engineering's Road Assets
• Private equity exits stood at USD 635 MM in August 2025 as compared to USD 1,843 MM in August 2024.
• Top exits of the month were:
  • USD 306 MM by TPG in Sai Life Sciences via Secondary Sale.
  • USD 150 MM by Warburg Pincus in Home First Finance Company via Secondary Sale

July 2025

• Private equity investors invested USD 4,607 MM in 92 deals in July 2025 as compared to USD 1,939 MM in 72 deals in July 2024.
• Average deal size was USD 55 MM in July 2025 as compared to USD 29 MM in July 2024.
• In July 2025, Financial Services, Infrastructure and Consumer witnessed highest activity in terms of deal values accounting for about 41%, 30% and 11% respectively of the total Private Equity investments.
• Top deals of the month were:
  • USD 1,603 MM by Blackstone and Lunate in Aadhar Housing Finance
  • USD 1,300 MM by Stonepeakin Princeton Digital Group
  • USD 281 MM by ChrysCapitalin Theobroma
  • USD 230 MM by Partners Group and Jungle Ventures in Infinity Fincorp Solutions
  • USD 200 MM by Abu Dhabi Investment Authority in Micro Life Sciences (Meril)
  • USD 172 MM by a consortium of investors including GajaCapital, Trust Investment Advisors and WhiteOakin Fractal Analytics
• Private equity exits stood at USD 8,928 MM in July 2025 as compared to USD 2,345 MM in July 2024.
• Top exits of the month were:
  • USD 6,350 MM by Temasek in Schneider Electric India via Strategic Sale
  • USD 1,603 MM by Blackstone in Aadhar Housing Finance via PE to PE
  • USD 202 MM by Bain Capital in 360 One WAM via Secondary Sale
  • USD 154 MM by ViridityTone (True North and FaeringCapital) in Anthem Biosciences via IPO
  • USD 146 MM by ApaxPartners in Fractal Analytics via PE to PE
  • USD 146 MM by True North in Infinity Fincorp Solutions via PE to PE
  • USD 131 MM by ICICI Venture in Theobroma via PE to PE

June 2025

• Private equity investors invested USD 1,327 MM in 86 deals in June 2025 as compared to USD 2,985 MM in 63 deals in June 2024.
• Average deal size was USD 17 MM in June 2025 as compared to USD 49 MM in June 2024.
• In June 2025, Consumer Tech, Industrials and Healthcare witnessed highest activity in terms of deal values accounting for about 30%, 16% and 15% respectively of the total Private Equity investments.
• Top deals of the month were:
  • USD 200 MM by GIC and ICONIQ Capital in Groww
  • USD 175 MM by Advent International in Felix Pharma
  • USD 120 MM by SC Ventures and Artal Asia in Jumbotail
  • USD 100 MM by General Catalyst, Think Investments and Others in Raphe mPhibr
  • USD 72 MM by a consortium of investors including GIC, RTP Global, Sofina in Cred
  • USD 62 MM by a consortium of investors including Creaegis, Premji Invest and Epiq Capital in Giva
• Private equity exits stood at USD 4,524 MM in June 2025 as compared to USD 1,713 MM in June 2024.
• Top exits of the month were:
  • USD 1,394 MM by KKR in JB Pharma via Strategic Sale
  • USD 1,195 MM by Kedaara and Partners Group in Vishal Mega Mart via Secondary Sale
  • USD 309 MM by GEF Capital Partners in Premier Energies via Secondary Sale
  • USD 224 MM by Westbridge Capital in Aptus Value Housing Finance via Secondary Sale
  • USD 209 MM by Carlyle in Yes Bank via Secondary Sale
  • USD 176 MM by TPG Capital in Sai Life Sciences via Secondary Sale

May 2025

• Private equity investors invested USD 2,277 MM in 92 deals in May 2025 as compared to USD 2,826 MM in 69 deals in May 2024.
• Average deal size was USD 26 MM in May 2025 as compared to USD 45 MM in May 2024.
• In May 2025, Financial Services, Industrials and Technology witnessed highest activity in terms of deal values accounting for about 20%, 18% and 13% respectively of the total Private Equity investments.
• Top deals of the month were:
  • USD 300 MM by TPG Growth and Novo Holdings in SCHOTT Poonawalla
  • USD 200 MM by Kedaara Capital, Wellington Management and Vitruvian Partners in Porter
  • USD 172 MM by Norwest Venture Partners and Motilal Oswal Alternates in IKF Finance
  • USD 154 MM by Samena Capital, Aregence and Others in UGRO Capital
  • USD 120 MM by GIC in Dr. Agarwal’s Healthcare
• Private equity exits stood at USD 1,291 MM in May 2025 as compared to USD 2,295 MM in May 2024.
• Top exits of the month were:
  • USD 318 MM by Carlyle in PNB Housing Finance via Secondary Sale
  • USD 314 MM by EQT in Sagility via Offer for Sale
  • USD 210 MM by General Atlantic in KFin Technologies via Secondary Sale
  • USD 165 MM by Peak XV in Porter via PE to PE

April 2025

• Private equity investors invested USD 2,130 MM in 110 deals in April 2025 as compared to USD 1,841 MM in 85 deals in April 2024.
• Average deal size was USD 22 MM in April 2025 as compared to USD 25 MM in April 2024.
• In April 2025, Financial Services, Technology and Industrials witnessed highest activity in terms of deal values accounting for about 45%, 19% and 10% respectively of the total Private Equity investments.
• Top deals of the month were:
  • USD 877 MM by Warburg Pincus and ADIA in IDFC First Bank
  • USD 142 MM by Kotak Alternate Asset Managers in Ace Designers
  • USD 130 MM by Goldman Sachs in PeopleStrong
  • USD 100 MM by Alterra and Brookfield in Evren
  • USD 60 MM by Kedaara Capital, Softbank and Accel in Juspay
  • USD 60 MM by a consortium of investors (Westbridge, Lightspeed and others) in Tessell
• Private equity exits stood at USD 795 MM in April 2025 as compared to USD 1,127 MM in April 2024.
• Top exits of the month were:
  • USD 225 MM by Temasek in National Stock Exchange via Secondary Sale
  • USD 145 MM by Partners Group, Warburg Pincus and British International Investment in Ecom Express via Strategic Sale
  • USD 130 MM by Multiples in PeopleStrong via PE to PE
  • USD 126 MM by TPG in Tata Technologies via Secondary Sale
     

March 2025

• Private equity investors invested USD 4,254 MM in 88 deals in March 2025 as compared to USD 2,151 MM in 72 deals in March 2024.
• Average deal size was USD 55 MM in March 2025 as compared to USD 33 MM in March 2024.
• In March 2025, Consumer, Financial Services and Infrastructure witnessed highest activity in terms of deal values accounting for about 40%, 15% and 11% respectively of the total Private Equity investments.
• Top deals of the month were:
  • USD 1,600 MM by Temasek, Alpha Wave and IHC in Haldiram’s
  • USD 510 MM by Bain Capital in Manappuram Finance
  • USD 485 MM by CPPIB and OTPP in National Highways Infra Trust (NHIT)
  • USD 163 MM by Actis in Stride Climate Investments
  • Investment by TPG Rise and others in Siemens Gamesa
  • Investment by TA Associates in Nous Infosystems
• Private equity exits stood at USD 434 MM in March 2025 as compared to USD 1,780  MM in March 2024.
• Top exits of the month were:
  • USD 170 MM by KKR in J.B. Chemicals & Pharmaceuticals via Secondary Sale
  • USD 163 MM by Macquarie Asset Management in Stride Climate Investments via PE to PE
  • USD 101 MM by Affirma Capital in TBO Tek via Secondary Sale
  • Exit by Affirma Capital in Tirupati Medicare via PE to PE

February 2025

• Private equity investors invested USD 1,515 MM in 82 deals in February 2025 as compared to USD 1,888 MM in 83 deals in February 2024.
• Average deal size was USD 20 MM in February 2025 as compared to USD 25 MM in February 2024.
• In February 2025, Technology, Healthcare and Aviation witnessed highest activity in terms of deal values accounting for about 41%, 36% and 9% respectively of the total Private Equity investments.
• Top deals of the month were:
  • USD 394 MM by KKR in Healthcare Global Enterprises (HCG)
  • USD 200 MM by Multiples in Qburst
  • USD 135 MM by Premji Invest, 360 One and Claypond Capital in Akasa Air
  • USD 78 MM by consortium of investors in ToneTag
  • USD 75 MM by M&G and Lightspeed in Udaan
  • USD 54 MM by a consortium of investors in SpotDraft
  • USD 53 MM by Motilal Oswal Alternates in Megafine Pharma
  • USD 50 MM by a consortium of investors in Geniemode
• Private equity exits stood at USD 2,601 MM in in February 2025 as compared to USD 3,025 MM in February 2024
• Top exits of the month were:
  • USD 1,006 MM by Carlyle in Hexaware Technologies via IPO
  • USD 580 MM by CVC Capital Partners in Gujarat Titans via Strategic Sale
  • USD 394 MM by CVC Capital Partners in Healthcare Global Enterprises (HCG) via PE to PE
  • USD 249 MM by TPG and Temasek in Dr Agarwal’s Healthcare via IPO
  • USD 220 MM by Blackstone in EPL via Strategic Sale
  • Undisclosed Amount by NIIF, BII and Eversource in Ayana Renewable Power via Strategic Sale

January 2025

• Private equity investors invested USD 4,192 MM in 107 deals in January 2025 as compared to USD 3,610 MM in 76 deals in January 2024.
• Average deal size was USD 46 MM in January 2025 as compared to USD 55 MM in January 2024.
• In January 2025, Business Services, Technology and Infrastructure witnessed highest activity in terms of deal values accounting for about 36%, 18% and 15% respectively of the total Private Equity investments.
• Top deals of the month were:
  •  ~USD 1,450 MM by New Mountain Capital in Access Healthcare
  • USD 640 MM by KKR, OTPP and Trust Investment Advisors in Highways Infrastructure Trust
  • ~USD 425 MM by Bain Capital in Dhoot Transmissions
  • USD 350 MM by Kedaara Capital in Impetus Technologies
  • USD 200 MM by Everstone Capital in Wingify
  • Investment by Carlyle in Roop Automotives and Highway Industries
  • Investment by PAG in Pravesha Industries
• Private equity exits stood at USD 264 MM in January 2025 as compared to USD 847 MM in January 2024.
• Top exits of the month were:
  • USD 118 MM by a consortium of investors in Minimalist via Strategic Sale
  • USD 65 MM by ADQ in Biocon Biologics via Buyback
  • USD 58 MM by Orbimed in Laxmi Dental via IPO

December 2024

• Private equity investors invested USD 28.1 BN in 943 deals in 2024 as compared USD 31.1 BN in 761 deals in 2023.
• Average deal size was USD 33 MM in 2024 as compared to USD 46 MM in 2023.
• In 2024, Technology, Financial Services and Consumer Tech witnessed the highest activity in terms of deal values accounting for 19%, 17% and 15% respectively of the total Private Equity investments.
• Top deals of the month were:
  • USD 1.3 BN by a consortium of investors in Zepto
  • USD 950 MM by Temasek in VFS Global
  • USD 911 MM by GIC and BCI in Data Infrastructure Trust
  • USD 900 MM by TPG in Altimetrik
  • USD 843 MM by KKR in Healthium
  • USD 800 MM by EQT in GeBBS Healthcare
  • USD 698 MM by Warburg Pincus in Shriram Housing Finance
• Private equity exits stood at USD 26.5 BN in 2024 as compared to USD 17.8 BN in 2023
• Top exits of the month were:
  • USD 1.5 BN by GIC in IRB Infrastructure Trust via Secondary Market
  • USD 1.5 BN by EQT and Temasek in O2 Power via Strategic Sale
  • USD 1.5 BN by Advent International in Bharat Serums and Vaccines via Strategic Sale
  • USD 1 BN by Carlyle, General Atlantic and Ares in PNB Housing Finance via Secondary Market
  • USD 959 MM by Warburg Pincus in Kalyan Jewellers via Secondary Market
  • USD 964 MM by Kedaara Capital and Partners Group in Vishal Mega Mart via IPO
  • USD 843 MM by Apax Partners in Healthium via PE to PE

November 2024

• Private equity investors invested USD 3,016 MM in 82 deals in November 2024 as compared to USD 855 MM in 57 deals in November 2023
• Average deal size was USD 40 MM in November 2024 as compared to USD 18 MM in November 2023
• In November 2024, Industrials, Consumer Technology and Agri & Allied witnessed highest activity in terms of deal values accounting for about 33%, 25% and 12% respectively of the total Private Equity investments
• Top deals of the month were:
  • USD 350 MM by Alpha Wave in Advanta Enterprises
  • USD 350 MM by Motilal Oswal AMC and a consortium of investors in Zepto
  • USD 300 MM by British International Investment, Norwegian Climate Investment Fund and Norway pension company KLP in EnerGrid
  • USD 250 MM by TA Associates in Vee Healthtek
  • USD 153 MM by ChrysCapital and a consortium of investors in Healthkart
  • Undisclosed amount by PAG in Manjushree Technopack
• Private equity exits stood at USD 2,104 MM in November 2024 as compared to USD 748 MM in November 2023
• Top exits of the month were:
  • USD 294 MM by EQT in Sagility
  • USD 274 MM by Carlyle in PNB Housing Finance
  • USD 221 MM by a consortium of investors in Swiggy
  • USD 125 MM by True North in Niva Bupa
  • USD 119 MM by Peak XV in Healthkart
  • Undisclosed amount by Advent International in Manjushree Technopack

October 2024

• Private equity investors invested USD 2,356 MM in 93 deals in October 2024 as compared to USD 3,628 MM in 87 deals in October 2023.
• Average deal size was USD 32 MM in October 2024 as compared to USD 49 MM in October 2023.
• In October 2024, Business Services, Consumer Technology and Financial Services witnessed highest activity in terms of deal values accounting for about 42%, 22% and 13% respectively of the total Private Equity investments.
• Top deals of the month were:
  • USD 950 MM by Temasek in VFS Global
  • USD 178 MM by ADIA and a consortium of investors in Purplle
  • USD 150 MM by the Rise Fund and a consortium of investors in Eruditus
  • USD 135 MM by Avataar Venture Partners, Sofina, and others in Finova Capital
  • USD 96 MM by a consortium of investors in OneSource Specialty Pharma
  • USD 95 MM by Gaja Capital and Lok Capital in Weaver Services
• Private equity exits stood at USD 773 MM in October 2024 as compared to USD 1,191 MM in October 2023
• Top exits of the month were:
  • ~USD 600 MM by CPPIB in NSE
  • ~USD 110 MM by Zodius (Avendus) in OfBusiness

September 2024

• Private equity investors invested USD 2,780 MM in 82 deals in September 2024 as compared to USD 1,819 MM in 66 deals in September 2023.
• Average deal size was USD 34 MM in September 2024 as compared to USD 32 MM in September 2023.
• In September 2024, Technology, Consumer Technology and Financial Services witnessed highest activity in terms of deal values accounting for about 46%, 17% and 14% respectively of the total Private Equity investments.
• Top deals of the month were:
  • USD 800 MM by EQT in GeBBS Healthcare Solutions
  • USD 270 MM by EQT in Indostar Home Finance
  • USD 226 MM by OMERS in Interise Trust
  • USD 210 MM by consortium of investors in in Physics Wallah
  • USD 200 MM by consortium of investors in Rapido
  • USD 125 MM by Warburg Pincus and SoftBank in Whatfix
• Private equity exits stood at USD 2,461 MM in September 2024 as compared to USD 1,425 MM in September 2023.
• Top exits of the month were:
  • USD 800 MM by ChrysCapital in GeBBS Healthcare Solutions via a PE to PE transaction to EQT
  • USD 259 MM by TPG in Five Star Business Finance via Secondary Market
  • USD 226 MM by Allianz Capital Partners in Interise Trust via a PE to PE transaction to OMERS
  • USD 201 MM by Peak XV in Five Star Business Finance via Secondary Market
  • USD 186 MM by Peak XV in Indigo Paints via Secondary Market
  • USD 101 MM by Peak XV in Prataap Snacks via a Strategic Sale to Authum Investment and Infrastructure Limited and Mr.Madhusudan Kela

August 2024

• Private equity investors invested USD 2,207 MM in 73 deals in August 2024 as compared to USD 3,003 MM in 64 deals in August 2023.
• Average deal size was USD 32 MM in August 2024 as compared to USD 57 MM in August 2023.
• In August 2024, Consumer Tech, Consumer and Financial Services witnessed highest activity in terms of deal values accounting for about 21%, 20% and 20% respectively of the total Private Equity investments.
• Top deals of the month were:
  • USD 340 MM by consortium of investors in Zepto
  • USD 334 MM by MUFG in DMI Finance
  • ~USD 290 MM by Warburg Pincus in Ebco
  • USD 275 MM by IFC, ADB and DEG in Fourth Partner Energy
  • USD 150 MM by Just Climate in Continuum Green Energy
  • USD 107 MM by consortium of investors in Bluestone
• Private equity exits stood at USD 1,843 MM in August 2024 as compared to USD 1,872 MM in August 2023.
• Top exits of the month were:
  • ~USD 606 MM by Warburg Pincus in Kalyan Jewellers via Secondary Market 
  • USD 214 MM by KKR in India Grid Trust via Secondary Market
  • USD 147 MM by TPG in Tata Technologies via Secondary Market
  • USD 145 MM by GEF Capital in Premier Energies via IPO
  • USD 127 MM by General Atlantic in PNB Housing Finance via Secondary Market
  • USD 100 MM by Warburg Pincus in MedPlus Health via Secondary Market

July 2024

• Private equity investors invested USD 1,939 MM in 72 deals in July 2024 as compared to USD 3,498 MM in 72 deals in July 2023.
• Average deal size was USD 29 MM in July 2024 as compared to USD 56 MM in July 2023.
• In July 2024, Healthcare, Financial Services & Power & Power Ancillary witnessed highest activity in terms of deal values accounting for about 27%, 26% & 15% respectively of the total Private Equity investments.
• Top deals of the month were:
  • USD 400 MM by TA Associates in Vastu Housing Finance
  • USD 300 MM by KKR in Baby Memorial Hospital
  • USD 225 MM by Platinum Equity in Inventia Healthcare
  • USD 200 MM by Brookfield in Leap Green Energy
  • USD 134 MM by Actis in Nxt-Infra Trust
• Private equity exits stood at USD 2,345 MM in July 2024 as compared to USD 2,316 MM in July 2023.
• Top exits of the month were:
  • USD 1,496 MM by Advent International in Bharat Serums and Vaccines via a Strategic Sale to Mankind Pharma
  • USD 308 MM by Carlyle in PNB Housing Finance via Secondary Market
  • USD 131 MM by EQT in RBL Bank via Secondary Market
  • USD 109 MM by CPPIB in Delhivery via Secondary Market

June 2024

• Private equity investors invested USD 2,985 MM in 63 deals in June 2024 as compared to USD 3,027 MM in 78 deals in June 2023.
• Average deal size was USD 49 MM in June 2024 as compared to USD 47 MM in June 2023.
• In June 2024, Technology, Consumer Tech and Financial Services witnessed highest activity in terms of deal values accounting for about 34%, 33% and 11% respectively of the total Private Equity investments.
• Top deals of the month were:
  • USD 900 MM by TPG in Altimetrik
  • USD 665 MM by consortium of investors in Zepto
  • USD 200 MM by Temasek and Fidelity in Lenksart
  • USD 174 MM by Kotak Alternate Asset Managers in Matrix Pharma to acquire Viatris’ API Business
  • USD 148 MM by OTPP in Kogta Financial
  • USD 120 MM by ADIA in Purplle
• Private equity exits stood at USD 2,897 MM in June 2024 as compared to USD 1,713 MM in June 2023.
• Top exits of the month were:
  • USD 807 MM by Blackstone in Mphasis via Secondary Market
  • USD 705 MM by GIC in IRB Infrastructure Trust via Secondary Market
  • USD 183 MM by Olympus Capital in Aster DM Healthcare via Secondary Market
  • USD 101 MM by WestBridge Capital in AU Small Finance Bank via Secondary Market

May 2024

• Private equity investors invested USD 2,826 MM in 69 deals in May 2024 as compared to USD 3,406 MM in 73 deals in May 2023
• Average deal size was USD 45 MM in May 2024 as compared to USD 52 MM in May 2023
• In May 2024, Healthcare, Financial Services and Technology witnessed highest activity in terms of deal values accounting for about 44%, 24% and 18% respectively of the total Private Equity investments.
• Top deals of the month were:
  •  USD 843 MM by KKR in Healthium Medtech
  •  USD 555 MM by Warburg Pincus in Shriram Housing Finance
  •  USD 175 MM by KKR in Infinx
  • USD 120 MM by Morgan Stanley Private Equity Asia and InvAscent in Maiva Pharma
  • USD 105 MM by GIC, Meritech Capital in Atlan
  • USD 102 MM by Quadria Capital in NephroPlus
  • USD 100 MM by ChrysCapital in Centre for Sight
  • USD 100 MM by Xponentia Capital, A91 Partners and 360 One Asset in Sedemac
• Private equity exits stood at USD 2,295 MM in May 2024 as compared to USD 732 MM in May 2023
• Top exits of the month were:
  • USD 843 MM by Apax Partners in Healthium Medtech via PE to PE
  • USD 241 MM by Blackstone in Aadhar Housing Finance via IPO
  • USD 173 MM by Carlyle in Yes Bank via Secondary Market
  • USD 129 MM by Warburg Pincus in Apollo Tyres via Secondary Market
  • USD 115 MM by TPG in RR Kabel via Secondary Market
     

April 2024

• Private Equity investors invested USD 1,841 MM in 85 deals in April 2024 as compared to USD 4,633 MM in 51 deals in April 2023.
• Average deal size was USD 25 MM in April 2024 as compared to USD 99 MM in April 2023.
• In April 2024, Healthcare, Technology and Financial Services witnessed highest activity in terms of deal values accounting for about 45%, 22% and 13% respectively of the total Private Equity investments.
• Top deals of the month were: 
  • USD 298 MM by Advent International in Apollo HealthCo
  • USD 200 MM by NIIF in iBus Network
  • USD 135 MM by General Atlantic in Ujala Cygnus
  • USD 120 MM by Investcorp in NSEIT
  • USD 84 MM by Lighthouse in Parsons Nutritionals
  • Investment by Warburg Pincus in Appasamy Associates
• Private equity exits stood at USD 1,127 MM in April 2024 as compared to USD 1,597 MM in April 2023.
• Top exits of the month were:
  • USD 429 MM by Bain Capital in Axis Bank via Secondary Market Sale
  • USD 277 MM by ADV Partners in Arjas Steel via Strategic sale
  • USD 168 MM by Temasek in Medica Synergie via Strategic sale
  • USD 110 MM by CPPIB in Delhivery via Secondary Market Sale

March 2024

• Private Equity investors invested USD 2,151 MM in 72 deals in March 2024 as compared to USD 1,606 MM in 47 deals in March 2023
• Average deal size was USD 33 MM in March 2024 as compared to USD 34 MM in March 2023
• In March 2024, Power & Power Ancillary, Infrastructure, and Technology witnessed highest activity in terms of deal values accounting for about 25%, 20% and 17% respectively of the total Private Equity investments
• Top deals of the month were:
  • USD 500 MM commitment by GIC in Power Transmission JV with Sterlite Power
  • USD 438 MM by CPP Investments and OTPP in National Highway Infra Trust
  • USD 230 MM by Advent International and Multiples in Svatantra Microfin
  • USD 103 MM by Lightspeed and Stepstone Group in Pocket FM
  • SD 80 MM by OTPP in Perfios
  • USD 78 MM by Convergent Finance and Samara Capital in Agro Tech Foods
• Private Equity exits stood at USD 1,780 MM in March 2024 as compared to 
       USD 1,523 MM in March 2023
• Top exits of the month were:
  • USD 810 MM by GIC in IRB Infrastructure Trust via Strategic Sale
  • USD 300 MM by ChrysCapital in Mankind Pharma via Secondary Market Sale
  • USD 238 MM by Olympus Capital in Aster DM Healthcare via Secondary Market Sale
  • USD 164 MM by Kedaara and Partners Group in Aavas Financiers via Secondary Market Sale
  • USD 143 MM by Warburg Pincus in IDFC First Bank

February 2024

• Private equity investors invested USD 1,888 MM in 83 deals in February 2024 as compared to USD 1,007 MM in 39 deals in February 2023.
• Average deal size was USD 25 MM in February 2024 as compared to USD 27 MM in February 2023.
• In February 2024, Infrastructure, Technology and Financial Services witnessed highest activity in terms of deal values accounting for about 48%, 14% and 10% respectively of the total Private Equity investments.
• Top deals of the month were:
  • USD 911 MM by GIC and BCI in Data Infrastructure Trust
  • USD 133 MM by Mubadala, Kotak PE and Avendus in Avanse Financial Services
  • USD 100 MM by TPG NewQuest, IFC, Mirae Asset and others in Shadowfax
  • USD 95 MM by Avataar Ventures and existing investors in Capillary Technologies
• Private equity exits stood at USD 3,025 MM in February 2024 as compared to USD 60 MM in February 2023.
• Top exits of the month were:
  • USD 800 MM by Brookfield in Data Infrastructure Trust via PE to PE Sale
  • USD 478 MM by KKR and CPPIB in Indus Towers via Secondary Market Sale
  • USD 353 MM by Warburg Pincus in Kalyan Jewellers in Secondary Market Sale
  • USD 292 MM by Temasek in PB Fintech (PolicyBazaar) in Secondary Market Sale
  • USD 189 MM by Fairfax India in NSE
  • USD 187 MM by BPEA EQT in CMS Info Systems via Secondary Market Sale

January 2024

• Private equity investors invested USD 855 MM in 57 deals in November 2023 as compared to USD 2,977 MM in 58 deals in November 2022
• Average deal size was USD 46 MM in 2023 as compared to USD 47 MM in 2022
• In 2023, Power & Power Ancillary, Healthcare and Tech witnessed the highest activity in terms of deal values accounting for 20%, 17% and 16% respectively of the total Private Equity investments
   
• Top deals of the year were:
  • USD 2.5 BN by Temasek and TPG in Manipal Health Enterprises
  • USD 1.8 BN by QIA, KKR and ADIA in Reliance Retail Ventures
  • USD 1.5 BN by GIC in Genus Power Infrastructure and its Smart Metering Projects Platform
  • USD 1.4 BN by BPEA EQT and ChrysCapital in HDFC Credila Financial Services
  • USD 1.0 BN by Brookfield Renewable in Avaada Group
  • USD 1.0 BN by Blackstone in Care Hospitals
  • USD 700 MM by GIC, ADIA and others in Greenko Energy Holdings
  • USD 660 MM by BPEA EQT in Indira IVF
  • USD 650 MM by General Atlantic, TVS Capital, Tiger Global and others in PhonePe
  • USD 530 MM by Blackstone in International Gemological Institute
• Private equity exits stood at USD 17.8 BN in 2023 as compared to USD 13.3 BN in 2022
• Top exits of the year were:
  • USD 1.4 BN by Tiger Global in Flipkart via Strategic Sale
  • USD 1.3 BN by BPEA EQT in Coforge via Secondary Market
  • USD 1.0 BN by TPG Asia VI in Manipal Health Enterprises via PE to PE 
  • USD 745 MM by CPPIB in Kotak Mahindra Bank via Secondary Market
  • USD 713 MM by Bain Capital in Axis Bank via Secondary Market
  • USD 700 MM by TPG in Care Hospitals via PE to PE 
  • USD 600 MM by Blackstone in Sona BLW Precision Forgings via Secondary Market
  • USD 517 MM by TA Associates in Indira IVF via PE to PE 
  • USD 450 MM by Blackstone in IBS Software via PE to PE
  • USD 415 MM by NIIF in Manipal Health Enterprises via PE to PE