Did India Set a Record with $44.3 Billion in Deal Activity During Q3?
Synopsis
Key Takeaways
- 999 deals worth $44.3 billion in Q3 2025.
- 64% increase in deal value compared to Q2 2025.
- M&A activity led with 518 transactions.
- 481 private equity deals worth $15.9 billion.
- Impressive IPO market with 159 new listings.
New Delhi, Nov 3 (NationPress) The Indian deal landscape witnessed remarkable growth between July and September 2025, culminating in 999 transactions valued at $44.3 billion, as reported on Monday. This represents a 13 percent rise in deal count and a striking 64 percent increase in value compared to the prior quarter, according to PwC India's latest 'Deals at a Glance' report.
During the April–June quarter of 2025, there were 887 deals totaling $27 billion. The recent figures indicate that Q3 2025 marked the most robust quarter in the last six, reflecting a resurgence in investor confidence in India's economy.
Mergers and acquisitions (M&A) dominated the deal scene with 518 transactions valued at $28.4 billion, showcasing an 80 percent surge in value and a 26 percent boost in volume from the previous quarter.
On a year-on-year (YoY) basis, M&A deal volumes rose by 64 percent, while total value increased by 32 percent, driven by domestic consolidation and a growing interest in cross-border transactions.
Private equity (PE) activity also remained vigorous, with 481 deals amounting to $15.9 billion. This reflects a 41 percent increase in disclosed value and a slight 1 percent rise in volume relative to the previous quarter.
PE investments more than doubled in value compared to the same time last year, boasting a 121 percent increase, alongside a 36 percent rise in deal count.
This underscores the ongoing interest from investors in scalable and high-growth business models.
Mohit Chopra, Partner and Leader for Deals at PwC India, noted that the July–September quarter experienced a robust rebound in both deal activity and valuations.
“This growth was fueled by renewed confidence in India’s domestic consolidation narrative, expanding corporate balance sheets, and a stable macroeconomic backdrop,” he stated.
Chopra further mentioned that as sectors mature and capital accessibility improves, both strategic and financial investors are pursuing long-term value creation opportunities.
The report also highlighted a remarkable performance in India’s IPO market, with 159 new listings in Q3 2025, which includes 50 mainboard IPOs and 109 SME IPOs.
This marks a significant increase from the 62 IPOs in Q2 2025 and 65 in Q1 2025 -- representing a 156 percent sequential rise and the highest quarterly figure this year.