Infrastructure Deal Flow and Fundraising in India

by Mitul Patel

  • 08 Feb 2011
  • INF

Preqin’s Infrastructure Online database features 121 deals completed by unlisted infrastructure fund managers in assets located in India.  The first of these deals was made in 1995 and two have already been completed in 2011. The largest India-based deal on record is the INR 48.4 billion (USD 982 million) acquisition of a 20% stake in GMR Kamalanga Energy by a consortium of investors led by IDFC India Infrastructure Fund in 2009.

121 deals have been completed in India since 1995, and core infrastructure has dominated the market; 32 deals were made in transportation assets, 24 in energy projects and 21 in the telecommunications industry.  In terms of project stage, 42% of completed deals were in secondary stage assets, 39% in greenfield projects and the remaining 19% in brownfield opportunities.

The India-based deals completed already in 2011 consist of two investments made by the Macquarie State Bank of India Infrastructure Fund including a USD 60 million investment in Soham Energy, and a INR 5.8 billion total investment  in the Anuppur Thermal Power Plant as part of a consortium of investors.

An increased number of infrastructure deals are expected to take place in India in the future to compensate for the growing demand for infrastructure development.  Preqin’s Infrastructure Online database currently features 12 unlisted infrastructure funds in market with a specific focus on India.  Of these 12 vehicles, six have already held interim closes and are in a position to invest capital. Nine funds are seeking investment in economic infrastructure industries, one will seek investment in social infrastructure and two will invest in both sectors.

For more information on infrastructure fundraising and deal flow, please click here to learn more about the Preqin Infrastructure Online service.

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