JPMorgan M&A Head sees nearly $150 billion funds focused on India: Report

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Bloomberg Television's Rishaad Salamat, Aiyengar said, “As we look at a combination of the inflows into the Indian market, as well as the exits financial sponsors have successfully been able to do, that bodes well for more money getting deployed in India." “It is hard to find a market like this which has the growth characteristics and stability as well as tech, health care, and infra solutions that are being provided by a multitude of companies," Aiyengar added. The New York-based banker also pointed to India’s fast-rising GDP among the attributes that make it so attractive.

In India, there were $33 billion worth of M&A deals in the year to date, nearly 72% down compared to the same period in 2022. It’s a stark contrast with 2023, where a global dealmaking slump has gripped the industry, Bloomberg reported.

JPMorgan is ranked second globally for M&A volume in the year to date, moving up from third place in 2022, according to Bloomberg’s league tables. “You have multiple infrastructure-only funds that are now getting set up, and the infrastructure spend in India is substantial," she said.

In terms of opportunities for owners to exit, Aiyengar sees green shoots emerging in the recently quiet initial public offering market. So-called dual track dealmaking, where asset owners consider selling their holdings either via IPOs or an M&A deal, will be on the table, as per Bloomberg reports.

“We’re very bullish on the propensity of companies to exit in both markets and being able to successfully run dual tracks, comparing and contrasting valuations in the private market as well as public markets," she added. (With Bloomberg inputs)"Exciting news! Mint is now on WhatsApp Channels