How Much Did India's Deal Activity Surge to in July with a 115% MoM Increase in M&A?
Synopsis
In July, India's deal activity soared to $16.4 billion with 227 transactions, showcasing a substantial 115% rise in M&A. Notably, three deals surpassed the billion-dollar mark, reflecting strong investor confidence. With increased activity in both the capital markets and mergers, the second half of the year looks promising for corporate dealmaking.
Key Takeaways
India's deal activity hit $16.4 billion in July 2023.
227 transactions were recorded, showing a strong market.
M&A activity surged by 115 percent month-on-month.
Retail and consumer goods sector led with 22 percent share .
10 IPOs raised $2.6 billion in July.
New Delhi, Aug 11 (NationPress) India's deal environment witnessed 227 transactions in July, amassing a total of $16.4 billion, fueled by a significant increase in mergers and acquisitions (M&A) activities along with capital market issuances, as per a report released on Monday.
When capital market deals are excluded, deal volumes saw an increase from 169 to 200 month-on-month, with a striking 115 percent rise in values, jumping from $4.2 billion to $9.1 billion, according to findings from the business advisory firm Grant Thornton Bharat.
In this period, there were three deals surpassing the $1 billion mark and 15 substantial transactions exceeding $100 million, demonstrating robust investor confidence across multiple sectors.
Shanthi Vijetha, Partner, Growth at Grant Thornton Bharat, commented: "July experienced a significant rise in deal activity, fueled by high-value transactions in both domestic and international sectors. The growth in billion-dollar M&A activities, paired with vibrant capital markets and strategic secondary exits, suggests that this momentum is likely to continue into the latter half of the year."
In the M&A sector, 83 deals valued at $7 billion were reported, marking a 41 percent increase in volume and an astonishing 340 percent increase in value sequentially. This surge was led by high-value domestic and outbound transactions. A standout deal of the month was JSW Paints Ltd acquiring a 75 percent stake in Akzo Nobel India Ltd for $1.5 billion, as per the report.
The retail and consumer goods sector dominated deal volumes with a 22 percent share, experiencing a 5.4 times value increase driven by four transactions above $100 million. Deal volumes in the IT & ITeS sectors tripled, with values soaring 7.7 times, propelled by heightened interest in data analytics and AI firms.
The revival in M&A activity reflects increasing boardroom confidence and strategic intentions among corporations, setting a strong groundwork for dealmaking in the latter half of the year.
Additionally, the month featured 10 IPOs collectively raising $2.6 billion and 17 Qualified Institutional Placements (QIPs) mobilizing $4.8 billion. This rise in capital market activity supports the thriving M&A and private equity deal flow, indicating a positive shift in corporate fundraising strategies.
Point of View
It is crucial to highlight that the recent surge in India's deal activity signifies a strong recovery in the corporate sector. This upward trend in mergers and acquisitions showcases not only investor confidence but also indicates a strategic shift towards robust fundraising and growth strategies among Indian companies. It's an encouraging sign for the overall economy.
NationPress
21 Jun 2026
Frequently Asked Questions
What was the total deal activity in India for July 2023?
India's deal activity for July 2023 amounted to $16.4 billion, with 227 transactions recorded.
How much did M&A activity increase month-on-month?
M&A activity saw a significant increase of 115 percent month-on-month in July 2023.
What sectors showed the most deal activity?
The retail and consumer goods sector led in deal volumes, while the IT & ITeS sectors experienced substantial growth in both volume and value.
How many deals were above $1 billion?
There were three deals valued over $1 billion in July 2023.
What was the standout transaction of the month?
The highlight of the month was JSW Paints Ltd's acquisition of a 75 percent stake in Akzo Nobel India Ltd for $1.5 billion.
