A total of 42 Equity Offering deals (pending and completed) were announced in the Technology, Media and Telecom of India, in the last twelve months resulting in a total deal value of over $8,628.6 million. In the LTM period, August 2021 turned out to be the most prolific in terms of deal size, with a total deal value of $3,899.4 million, resulting in an average deal value of $557.1 million during that month. On the other hand, the month of September 2021 was the most prolific in terms of deal volume, recording a total of 9 deals, resulting in an average deal value of $46.1 million during that month.
Of the 42 deals, the deal secured between Aberdeen New India Investment Trust PLC; Abu Dhabi Investment Authority; Baillie Gifford Pacific Fund; Bharti AXA Life Insurance Company Ltd; Desjardins Emerging Markets Fund; Edelweiss Financial Services Ltd; Government of Singapore; HDFC Life Insurance Co Ltd; IIFL Special Opportunities Fund; Lazard Emerging Markets Fund; Max Life insurance Co Ltd; Monetary Authority of Singapore; Moraine Master; Morgan Stanley; NVIT Emerging Markets Fund; Partners Bay Master Fund; SBI Life Insurance Co Ltd; Segantii India Mauritius; SEI Institutional Investments Trust; Societe Generale SA; The New Economy Fund; Valiant Mauritius Partners FDI Limited; WCM Focused Emerging Markets Fund; Wf Asian Smaller Companies Fund Ltd and Star Health and Allied Insurance Company Ltd, was the largest Equity Offering deal in the India Technology, Media and Telecom sector, which was valued at $428.5 million and was completed on November 29, 2021. The second-largest deal was between Flipkart Internet Pvt Ltd; Walmart Inc and Ninjacart, while the third-largest deal was between FedEx Corp and Delhivery Ltd. The Flipkart Internet Pvt Ltd; Walmart Inc-Ninjacart deal and the FedEx Corp-Delhivery Ltd deal were valued at $145.0 million and $100.0 million, respectively. The fourth-largest deal was between Tata Digital Limited-Diverse Retails valued at $75.0 million, whereas the deal between Gamnat Pte. Ltd.; Plutus Wealth Management LLP-Nazara Technologies Ltd valued at $42.3 million was the fifth-largest deal.
Cumulatively, the top five deals amounted to $790.8 million and accounted for nearly 9.17% of the total deals (by value) announced during the last twelve months.
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