Posts nearly 500% YoY increase, followed by integrated pharma firm Encude Ethicals, at 343%; Sequoia Capital is the top investor, Norwest Venture Partners and Tiger Global in second spot

Honasa Consumer (Mamaearth), with an average revenue growth of 491 per cent over last year, has topped the list of companies that attracted private equity investments in India.

As per a media statement by Hurun Research, Encube Ethicals, an integrated pharmaceutical company, is ranked second, reporting a growth of 343 per cent. Ecom Express, a tech-enabled logistics solutions provider, is ranked third (283 per cent growth).

Of the 125 companies in India that received a single round of funding of more than $25 million in calendar 2021, Hurun Research Institute shortlisted 21 that fit the performance and funding criteria of the Practus Hurun India PE Performers 2022 list.

Of the 103 investors who took part in investments across various funding rounds, Hurun Research Institute found 35 PE players had invested in companies featured in the list. Having led investments in four firms in the list, including two unicorns, Sequoia Capital India is the top investor in the Practus Hurun India PE Performers 2022.

Norwest Venture Partners and Tiger Global Management take second spot with investments in three companies each.

“The next phase of India’s value creation has to be driven by the combination of capital and intellect. Private equity funds along with their managers is one such catalyst that could accelerate value creation in the Indian economy. In this context, it is important to celebrate the stories of high performing companies who have demonstrated growth post receiving funding and those investors/ funds who have identified and are closely managing these investments,” said Anas Rahman Junaid, MD and Chief Researcher of Hurun India.

Deepak Narayanan, CEO & Founder, Practus said over the last decade, private equity and venture capital investments in Indian companies has seen a significant upsurge and scaled an all-time high of US$70 billion in 2021, an increase of 96 per cent over the 2020 deal value excluding the Reliance Retail and Jio deals. “In addition, the number of deals almost doubled from 1,100 to 2,000, record listing of new age businesses (Zomato, Paytm, Nykaa) and significant increase in exit momentum (US$36 million) with attractive valuation multiples,” he said.