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In addition, a regulatory clampdown by China on its technology firms is spurring some foreign investors to turn to the world’s second-most populous nation instead, analysts said.
The fundraising boom in India by companies, ranging from an e-commerce platform to a food delivery app operator, comes even as country’s economic rebound, already weakened in recent months, faces risk from coronavirus variants.
In private equity capital deals, which include placements and pre-IPO funding rounds, $22 billion has been raised so far this year, according to Pitchbook data, putting India on track to exceed 2020’s record of $37 billion.
Of the amount raised in 2021, foreigners invested $13.21 billion in the first half of this year – the most ever – compared with $4.99 billion in the same period last year, separate Refinitiv data showed.
India snares $22 bln in private fund raisings - Pitchbook China clampdown spurs some investors to turn to India - analysts 2021 India IPO pipeline includes $2.2 bln float by Paytm Zomato, Swiggy, Flipkart buoy capital raisings this month
HONG KONG, July 30 (Reuters) - Cash-laden investors are set to step up the hunt for Indian firms, mainly tech start-ups, likely to benefit in the post-pandemic world, after pumping in a record $30 billion via public and private equity deals this year, bankers and analysts said.
Eyeing India’s large middle class with access to cheap smartphones and the internet, global investors have flocked to online platforms in the country and helped swell the ranks of unicorns, or start-ups valued at $1 billion or above.
Low rates, volatility prompt rush for Asia s convertible bonds reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.