India Inc's dealmaking value falls 60% in February: Grant Thornton
This also marked the second-lowest deal volumes and lowest values recorded since 2014, as per the tracker.
This also marked the second-lowest deal volumes and lowest values recorded since 2014, as per the tracker.
Shekhar brings a wealth of experience to BajajCapital, having held senior finance positions at leading organizations including Socomec Group, where he served as the CFO India and Business Controller for the Asia-Pacific region, and Grant Thornton.
As electrification catches pace in the world's third largest auto market amid changing strategies of multinational companies, the deal Street in India is only going to get busier, say investment bankers and those in the transaction advisory business.
"India managed to account for record deal values last year (2022), which made investors hopeful about the future. However, the deal momentum in January 2023 did not match the expectation and witnessed a declining trend," its partner Shanthi Vijetha said.
The exchanges had sought a clarification from the company after Business Standard reported that the embattled Adani group had appointed accountancy firm Grant Thornton for an independent audit of some of its companies in a bid to come clean of the damning allegations levelled by the US short-seller Hindenburg Research and to assure investors and regulators.
The appointment marks the first major effort by Adani Group to defend itself in the wake of a Jan. 24 report by Hindenburg that accused it of improper use of offshore tax havens and stock manipulation.
The company was allegedly enjoying a vendor bill discounting (VBD) facility, a kind of credit, of Rs 400 crore from the IDBI bank in 2012, the officials said.
Leading consulting and strategy firms are going all out to improve gender diversity within their ranks.
The separation would imply that the Big 4 brand will be dead, which is a positive development as it’s both a false sense of ‘brand security’ and nothing to do with ‘audit quality’ rankings, says Grant Thornton Bharat CEO.
Alvarez & Marsal and Grant Thornton are advising IL&FS on the bank-wise distribution of the proceeds from the recoveries. IL&FS had informed lenders last week that proceeds would be distributed in the third quarter as against the initial plan of this being done in the second quarter, said one of the persons cited above.
The overall deal activity , which includes mergers and acquisitions, private equity landscape and public market activity like IPOs stood at USD 7.965 billion a year ago.