What do the 688 deals worth $39.9 billion in July-September signify for India?
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Synopsis
India's deal landscape has experienced a robust resurgence in Q3 2025, with 688 transactions totaling $39.9 billion. This surge indicates renewed investor confidence and market activity, especially in M&A and IPO sectors. Explore the driving factors and implications for the economy in this captivating report.
Key Takeaways
- India recorded 688 deals totaling $39.9 billion in Q3 2025.
- Deal volumes reached their highest level since Q1 2022.
- M&A and PE accounted for 629 deals valued at $28.7 billion.
- Public market activity peaked with 34 IPOs and 25 QIPs.
- Strong domestic activity was evident with 191 transactions.
New Delhi, Oct 10 (NationPress) In the third quarter of 2025 (Q3 2025), India saw a remarkable total of 688 transactions amounting to $39.9 billion, indicating a significant rise in overall deal activity, as reported on Friday.
Deal activity has reached its highest level since Q1 2022, with quarterly values achieving a year-to-date peak, primarily fueled by a notable surge in mergers and acquisitions (M&A) and unprecedented capital market issuances.
Year-on-year, deal values surged by 30 percent, while transaction volumes posted an increase of 8 percent.
Mergers and acquisitions (M&A) alongside private equity (PE) collectively accounted for 629 deals valued at $28.7 billion, showing a 14 percent rise in volume and more than double the value compared to the prior quarter, according to a report by Grant Thornton Bharat.
The public market activity hit new records this quarter, featuring 34 IPOs and 25 QIPs that raised $5.6 billion each, marking the highest performance of the year in both volume and value.
This surge was largely attributed to companies seeking markets for growth capital and debt reduction, spearheaded by HDB Financial Services’ $1.5 billion IPO, Knowledge Realty Trust REIT’s $558 million offering, and NSDL’s $466 million listing.
M&A activity also demonstrated significant strength this quarter, showcasing 263 transactions valued at $22 billion, reflecting a 34 percent rise in volumes and a staggering 311 percent increase in values compared to Q2 2025.
This growth was propelled by six billion-dollar deals worth $15.3 billion, which comprised 70 percent of the total M&A value.
The report indicated that domestic activity remained robust, with a record 191 transactions.
"Q3 2025 has showcased a strong growth trajectory for India’s deal landscape, with M&A and IPO activities reaching record volumes and values bouncing back from a subdued Q2. The combination of robust cross-border and domestic transactions, along with early-stage investments in consumer and technology sectors, underscores enduring investor confidence," stated Shanthi Vijetha, Partner, Growth at Grant Thornton Bharat.
On the other hand, PE activity remained steady, recording 366 deals valued at $6.7 billion.
Although volumes saw a slight uptick of 3 percent quarter-on-quarter, values dipped by 10 percent, as highlighted in the report.
Point of View
The surge in deal activity in Q3 2025 is a positive sign for India's economic landscape. The robust M&A and IPO activity reflect a resilient market and growing investor confidence, which bodes well for future growth and stability.
NationPress
11/10/2025
Frequently Asked Questions
What was the total value of deals recorded in Q3 2025 in India?
India recorded a total of $39.9 billion in deals during Q3 2025.
How many deals were executed in India during the third quarter?
A total of 688 deals were executed in India during Q3 2025.
What drove the increase in deal values and volumes?
The increase was primarily driven by a rise in mergers and acquisitions as well as record capital market issuances.
How did IPO activity perform in Q3 2025?
The quarter saw 34 IPOs and 25 QIPs, raising a total of $5.6 billion each, marking the highest quarterly performance of the year.
What does the report indicate about investor confidence?
The report indicates a strong investor confidence reflected in robust cross-border and domestic transactions.
