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<ul><li>Deals in February dropped significantly in both volume and value terms, as compared to last year.</li><li>Investors continue to tread cautiously amid macroeconomic uncertainties, says Grant Thornton.</li></ul>Uncertain macroeconomic conditions have taken a toll on <keyword id="16790180" type="General" weightage="20" keywordseo="deal-making-in-india" source="Orion">deal making in India</keyword> – which have slowed down significantly in the month of February. India recorded only 89 deals, valuing $1.8 billion in February, which dropped by 54% in terms of volume, and 60% in terms of value, as compared to last year. Investors continue to tread cautiously amid macroeconomic uncertainties, according to <keyword id="16790181" type="General" weightage="20" keywordseo="Grant-Thornton-Bharats-Dealtracker-February-2023" source="Orion">Grant Thornton Bharat’s Dealtracker February 2023</keyword> report. This also marked the second-lowest deal volumes and lowest values recorded since 2014, the report said. The report highlighted that activity in the merger and acquisitions witnessed a significant downtrend — declining by 48% in terms of volume, and 47% by value compared to February 2022. February 2023 clocked in 24 deals at a total value of $755 million. “US economic data has been pointing towards a slowdown; however, the recession is not confirmed yet. China has seen an accelerated reopening, and that has provided a boost to the commodity market. On the domestic front, the policy review also acknowledges that domestic economic activity is expected to remain resilient, aided by the sustained focus on capital and infrastructure spending in the Union Budget 2023-24,” said Shanthi Vijetha, partner- growth at Grant Thornton Bharat. Funding winter for PE investments The private equity investment trend also witnessed a drop both in terms of deal values and volumes with only 65 deals worth $1 billion taking place during the month. The year 2023 also witnessed the continued funding winter in terms of both PE deal volumes and value. The report shares that the decline in PE funding was largely due to uncertain market conditions and the wait-and-watch approach adopted around the Budget 2023-24. “While the deal activity is subdued, the Indian market is still considered to provide good opportunities for deals/investments. As a result, the Union Budget 2023 avoided populist measures in the pre-election year and prioritised long-term growth,” added Vijetha. The <keyword id="402627" type="General" weightage="20" keywordseo="ipo-market" source="Orion">IPO market</keyword> was slow too this year, with just three IPOs getting publicly listed on exchanges so far. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/if-youre-working-in-any-of-these-roles-then-you-need-to-be-worried/articleshow/98632981.cms">Is your job at risk? If you're working in any of these roles then you need to be worried</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/mfs-add-shares-of-indigo-paytm-pvr-nazara-technologies-among-others-in-february/articleshow/98630434.cms">MFs add shares of Indigo, Paytm, PVR &amp; Nazara Technologies among others in February</a>

Deal making slows down significantly in February as investors turn cautious: Grant Thornton

In a bid to expand its business aggressively, <a href="http://www.businessinsider.in/searchresult.cms?query=paytm">Paytm</a> has ventured into online movie ticket market and has tied up with <a href="http://www.businessinsider.in/searchresult.cms?query=PVR">PVR</a>. 
 
Paytm inked a deal with PVR as part of its Rs 120 crore investment in the <a href="http://www.businessinsider.in/Chinas-Baidu-to-invest-in-Zomato-BookMyShow-BigBasket/articleshow/50561568.cms">online movie ticket</a> business. 
 
READ MORE: <a href="http://www.businessinsider.in/Not-soExclusive-Vijay-Shekhar-Sharma-answers-your-Paytm-FAQs/articleshow/51492023.cms">Not so Exclusive: Vijay Shekhar Sharma answers your Paytm FAQs</a> 
 
Following this, Paytm will start selling PVR tickets on its platform. 
 
"This is in line with our overall strategy of bringing more payment use cases online. Customers today are asked to shell out more when they pay in advance digitally. We want to eradicate this practice," said Paytm’s Vijay Shekhar Kumar. 
 
"Through this deal, we aim to reach out to more consumers and achieve better penetration in micro markets," said Sanjeev Kumar Bijli, Joint MD of PVR. 
 
Paytm intends to double the online movie ticket market, which is presently 15% of the total domestic market. 
 
(Image: Thinkstock)

You can buy a PVR movie ticket on Paytm now

Ever thought you can book your movie tickets at a lower price than the counter? If Paytm has its way, this will soon be a reality. Noida based digital payment and m-commerce firm is coming up with a new addition to its portfolio. It will be selling movie and entertainment tickets on its platform. 
 
This would mean a tough competition for Bookmyshow, which is till now the only leader in the segment. 
 
Paytm founder and chairman Vijay Shekhar Sharma has told The Economic Times that the idea is to create a marketplace for entertainment tickets with deals and offers for customers. "All the cinema chains can become sellers on the platform and can experiment with various pricing options and deals," he said. 
 
A multiplex will have an option to tag along free popcorn or valet parking offer with a movie ticket for a weekday afternoon show or they can also offer discounted tickets for a screening in a theatre at a location where not many people frequent. 
 
"So much is possible in terms of choice and offers for customers when cinemas become sellers themselves instead of a situation currently where they are just sharing their inventory with a third party," Sharma told the financial daily. He has also added that Bookmyshow can also become a seller on the platform. 
 
Slated to be launched later this week, Paytm will be venturing a Rs 3,000-crore annual business. The company is aiming to include PVR's network of 370 screens in 75 multiplexes across 33 cities. Adlabs-owned Imagica and Aquamagica in Mumbai are already on the platform. However, PVR is yet to decide. 
Most multiplexes have their own websites to sell tickets, but they prefer vending them through Bookmyshow, thanks to the latter’s popularity. Paytm may have some limitation in the initial few days, as most cinemas have already collaborated with Bookmyshow. 
 
 
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Paytm in hot pursuit to defeat Bookmyshow!

<ul><li>PE/VC investors raked in ₹97,500 crore via exits from 78 companies in 2023.</li><li>Midcaps accounted for 50% of the total exit deals at ₹48,700 crore.</li><li>Foreign investors like <keyword id="163404" type="General" weightage="20" keywordseo="softbank" source="Orion">Softbank</keyword> and Warburg Pincus sold stock worth ₹81,200 crore. </li></ul>Thanks to the bull run which has also seen the market change its view on new-age companies — the year gone by has been spectacular for private equity and venture capital (VC) investors. Combined, they have raked in almost ₹1 lakh crore (₹97,500 crore to be precise) via exits from 78 companies, as per a report by Nuvama. “The robust secondary market presented PE/VC firms with a golden opportunity for profitable exits, thanks to a consistent influx of flows, notably from domestic institutional investors (DIIs). Consequently, 2023 witnessed record-breaking PE/VC exits via secondary markets in India's equity history,” the report said. It also comes as no surprise that it’s the midcap companies that offered their investors easy and profitable exit options during the year. The cumulative midcap company exits were at ₹48,700 crore — which is half of the total exits. The next biggest chunk of exits came from small cap companies — at around 30% of the total — accounting to ₹29,700 crore. Large caps on the other hand saw exits to the tune of ₹19,200 crore. It needs to be mentioned that midcaps indices ran up by 47% during the year, and small caps by 56%. Nifty on other hand went up by 20%, eclipsed by the performance of these indices. Top PE/VC exits in 2023 <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Deal amount </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Investors </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">PayTm </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹12,900 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Alibaba, Berkshire Hathaway, SoftBank Corp </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coforge </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹10,900 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Baring Asia </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mankind Pharma </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹8,800 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ChrysCapital, Capital International </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5,900 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bain Capital </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sona BLW </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,900 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Blackstone </td></tr></tbody></table>Source: Nuvama Institutional Equities Foreign players rake in the moolah A large chunk of the exits’ proceeds went into the kitty of foreign investors. As much as 83% of the deal amounts – that’s ₹81,200 crore were foreign investors like Softbank, Warburg Pincus, Baring Asia, Bain Capital and more. Softbank however saw the chunkiest of exits especially after the stocks of <keyword id="830092" type="General" weightage="20" keywordseo="zomato" source="Orion">Zomato</keyword>, <keyword id="11931339" type="General" weightage="20" keywordseo="delhivery" source="Orion">Delhivery</keyword>, PayTm, PB Fintech provided it with exit options. Warburg Pincus exited from companies like IDFC First Bank, Cams Services, Home First Finance, Kalyan Jewellers, Fusion Microfin and PVR Inox. Among India-dedicated funds, Fairfax Holdings, Blume Ventures, Lighthouse and Peak XV Partners exited their investments in small and midcap companies. The sector that saw the sharpest run-up during the year also provided its investors with the most exit moolah. Financials accounted for 45% of the total exits at ₹43,500 crore. Consumer discretionary came in second with ₹17,800 crore. IT also saw a good show of ₹12,400 crore thanks to the chunk deal of Baring Asia from Coforge. Healthcare and industrials came in next.

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Deal making slows down significantly in February as investors turn cautious: Grant Thornton

Bhakti Makwana

You can buy a PVR movie ticket on Paytm now

BI India Bureau

Paytm in hot pursuit to defeat Bookmyshow!

BI India Bureau

Bull run bonanza yields almost ₹1 lakh crore in exits for PE/VC investors

Katya Naidu

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