Industrial Update – Newsletter – April 2024
IMAP’s Industrials group brings you this monthly update with a focus on latest news, transactions and interesting snippets from the Industrials domain in India
Online B2B Marketplace – An emerging sector in India!
The global online B2B marketplace has seen strong digital adoption with significantly higher penetration levels as compared to India.
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In India too, the digital penetration over the next few years is expected to increase by 10x i.e. from US$ 20 bn to US$200 billion.
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The key growth drivers in India being the convergence of increasing digital adoption by customers, improved digital infrastructure (payment/logistics/supplychain) and beneficial regulatory framework
The key business models in the B2B e-com space include:
•Horizontal Marketplaces: Platforms serving various customers and sectors
•Vertical Marketplaces: Platforms focused on specific product categories
•E-Service: Provides B2B services or acts as marketplace
•Others: Includes e-auction, classifieds and retail distribution among others
The total funding raised by the B2B space in India is ~US$ 5.5 billion and currently has 5 unicorns- OfBusiness, Infra.Market, Zetwerk, Moglix and Udaan
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Some recent transactions
Apr’24 | Dhruva Space | The space tech startup raised ₹54 Cr. in a fundraise led by IvyCap Ventures and Silverneedle Ventures |
Apr’24 | Rapidue | The waste management company raised ₹110 Cr. in a fundraise led by IIFL Asset Management |
Apr’24 | Hyd-Air Engineering | Aeroflex Industries acquired a 100% stake in the hydraulic fitting manufacturer for ₹17.29 Cr. |
Apr’24 | La Renon | Chrys Capital acquired a 8% stake the pharmaceutical manufacturer for ₹600 cr. |
Apr’24 | Lithansa Technologies | Aurionpro Solutions acquired a 67% stake in the Ai company for ~₹140 Cr. |
Apr’24 | Lets Transport | The Logi-Tech company raised ₹63.5 Cr. in funding from Bertelsmann India. |
Recent News
- General Electric completed its transition of splitting into three separate companies with GE Vernova (i.e. GE Energy), GE Aerospace and GE Healthcare all trading under separate stock tickers
- In FY24, India’s defence exports reached an all time high of Rs.21,083 crore (32.5% growth over FY23), supplying its products to over 85 countries; also India exported electronics goods worth $29.12 billion in FY24, up 23.6% compared to a year ago
- IMF, in its latest estimates, has upgraded expected global economy growth in CY24 to 3.2%; strong economic activity in the US and emerging markets has led to this upgrade
- Fears of a full-scale war in the Middle East have led to a rise in oil prices- a barrel of Brent crude is trading at ~$89 (compared to $79 in Jan’24); experts say prices could go to US$ 100 if the war escalates
IMAP Industrials Index & Valuation of sub-segments
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Commodity Prices Index
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Reach out to us to discuss more :
- Praveen Nair : +91-9820330033 / praveen@imapindia.in
- Puneet Kochar : +91-9810287367 / puneet@imapindia.in