Avendus Capital's Industrials vertical, services manufacturing businesses in raw materials and industrial components that integrate to create India’s manufacturing behemoth. The team consists of professionals with 50+ years of combined investment banking experience in manufacturing and related industries. One of the focus areas is specialty chemicals which is witnessing strong interest, driven by India’s low-cost manufacturing ecosystem and the progressively increasing culture of R&D and innovation.
Our mergers and acquisitions (M&A) advisory and private equity (PE) syndication services are recognized as amongst the best in these chosen sub-sectors.
Koushik Bhattacharyya joined Avendus in 2010 and leads the Industrials vertical of the investment banking business. He has an overall experience of over 13 years in investment banking, across capital markets, mergers and acquisitions (M&A) and private equity (PE) advisory, and is based in Mumbai.
At Avendus, he is responsible for building relationships with entrepreneurs, corporate houses and global conglomerates, and advises them on M&A and PE transactions from origination to closure. He has been involved in publishing industry reports and knowledge papers which have garnered a lot of attention from industry participants and financial sponsors. Prior to joining Avendus, Koushik worked with the investment banking division of Enam Securities (now Axis Capital) where he was a part of their deal origination team covering life sciences and infrastructure sectors.
He holds an MBA degree from IIM, Ahmedabad and a Bachelor of Technology degree from IIT (ISM) Dhanbad.
The Indian DomForm market is expected to touch INR ~5.5 trillion by 2034, growing at a CAGR of 10%. Our report foresees some fundamental model shifts over the next decade, such as a gradual transition from a primarily doctor branded prescription model to an alternative marketing and channel mix. This will be aided by more stringent quality compliance, which would lead to a rationalisation of supply chains.
Private equity deals in the IT services sector have surged, tripling over the past decade to reach 229 deals in 2023. The sector's growth is driven by its resilience, high cash flow generation, and strategic focus on high-demand areas like Cloud, Analytics, DES, and Cybersecurity. With over 350 active PE investors and significant increases in deal values, IT services offer attractive exit opportunities and substantial returns, cementing their status as a premier choice for private equity investment.
The Green Hydrogen value chain in India is expected to garner cumulative investments of ~USD 125 billion by 2030. This growth will be driven by rising sustainability focus, demonstrated commercial viability, ever-expanding use cases and a strong regulatory push. With India's ability to produce Green Hydrogen at a competitive cost, the first set of serious standalone and integrated participants have emerged and early-stage investment risks are likely to be short-lived as the sector is already at an inflection point.
The commercial real estate market in India is witnessing massive disruption, led by Flex Workspaces. The sector has more than doubled from 29.3 mn sqft in 2019 to 61 mn sqft in 2023 – making India the fastest-growing Flex Workspace market globally. It is estimated to grow up to 126 million sqft at a 15% CAGR, addressing a USD 9 billion market by 2028. Sectors like IT & ITeS, BFSI, consulting, e-commerce, manufacturing, and new-age startups, along with the continuous influx of global captive centers are driving this demand.
While ESG as a theme has already gained relevance in the global capital markets, it is set to become a key decision-making parameter for Indian Equity Capital Markets, contributing to ~34% of the total domestic AUM by 2051. This growth is expected to be driven by ESG focused sectors such as Renewable Energy, Electric Vehicles, Green Hydrogen and Climate Tech, among others.
Cloud has evolved into its third growth phase, maturing from a cost-effective proposition to a business transformation lever. Enterprise focus has shifted from mere lift and shift migration to building cloud-native architectures to achieve higher business value gains from cloud adoption initiatives. The total marketable opportunity for cloud service providers is projected to reach USD 160 billion by 2026, with 20+ pure-play players expected to cross USD 100 million in revenues. Dive into the trends, initiatives, benchmarking and deal momentum.
Connect with us on industrials@avendus.com and we’ll get in touch with you.