Key Points
Global private equity major Blackstone Group has said that it will investing $2 billion annually in India..
Blackstone Group Chief Operating Officer Jonathan D Gray said that the Centre should adopt some measures to improve the ease of doing business for firms, including quicker approvals on mergers and acquisitions, easier privatisation of listed companies, and improvements in dispute resolution in commercial matters...
Gray suggested some reforms while appreciating the work already done by the government, including the Insolvency and Bankruptcy Code and the Goods and Services Tax...
In the case of privatising a listed entity, Indian regulations require the nod of over 90 per cent of all shareholders making a deal "mathematically impossible", he said, adding that it is because of challenges on this front that India has 7,000 listed entities, which is double that of the US, but their market capitalisation is just a tenth of the US...
Blackstone Group senior managing director Amit Dixit said over the next five years, the value of assets is seen rising by $25 billion, including $17 billion in fresh bets and up to $7.5 billion value creation across portfolio companies, where it has already invested but is yet to exit...
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