India has shown growth in its percentage of total private equity investments in the broader Asia region with declining China’s percentage. India’s share jumped to 25.1 per cent in 2022 from 11.9 per cent in 2020. China’s percentage dropped to 63 per cent in 2022 from 80.2 per cent in 2020, according to S&P Global Market Intelligence data.

This comes even as India recorded a 23.4 per cent year-over-year decline in private equity investments to $28.27 billion in 2022, but China and Southeast Asia experienced steeper declines.

Transaction value in China, the region’s largest economy, slipped 45.1 per cent year-over-year to $70.86 billion, while Southeast Asia logged a 46.2 per cent decline in value to $13.38 billion.

India received $4.80 billion in investments from private equity firms across 247 deals in the last quarter of 2022 compared to $10 billion across 390 transactions during the same period a year earlier.

The technology, media and telecommunications sector in India attracted the largest capital from Jan. 1, 2021, to Dec. 31 2022, with about $27.66 billion in transaction value. The consumer and financial sectors followed, with about $14.60 billion and $8.04 billion, respectively.

The largest transaction in India in 2022 was the $2.42 billion acquisition of power producer Sembcorp Energy India Ltd. An investment group including, Oman Investment Corp. bought the company.

The $805 million series J funding round of news application developer VerSe Innovation Private Ltd. ranked second, with Sofina SA and Sumeru Ventures LLC among the investors. BPEA EQT’s $800 million acquisition of IGT Solutions Pvt. Ltd. came in third.

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