Private equity (PE) volumes saw a notable increase in the second quarter of 2024, reaching their highest level in the previous two years.
India IT Spending Surges 19 per cent by 2024
According to a recent research, India’s IT spending is expected to expand by about 19% this year, exceeding the global average of roughly 8% growth. According to data from Grant Thornton Bharat, deal volumes increased by 9% between April and June, from 69 to 75.
“We are in the midst of a strong stabilization and resurrection phase in the Indian technology sector. CIOs are concentrating on improving both customer experience and operational efficiency as generative AI opens up new opportunities for development and innovation,” noted Raja Lahiri is a partner at Grant Thornton Bharat and the industry leader in technology.
Compared to q2, q3, India IT Spending Surges 19 per cent by 2024
PE volumes increased in Q2 compared to Q3 2023 levels, mostly due to the dominance of technology companies, which accounted for 60% of volumes and 57% of values. There was significant activity in the enterprise software/SaaS category, accounting for 30% of sales. PE transaction activity was dominated by B2B startups, which accounted for 74% of volumes and 51% of values.
Notable accomplishments include the $70 million that Avail Technologies was able to secure for its global development through two investment rounds, as well as the unicorn status that Ola’s Krutrim AI and the logistics platform Perfios attained in 2024. Twenty transactions totaling $79 million were also registered in the enterprise software/SaaS market.
This revised edition improves readability and clarity without sacrificing the original’s spirit.
Account opning link:
- Groww Account- https://app.groww.in/v3cO/kyrp1zph
- Kotak neo Account https://kotaksecurities.ref-r.com/c/i/32531/109103906
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