Is India's M&A Activity Surging to $61.3 Billion in H1 2025?
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Synopsis
India's M&A sector is witnessing a significant resurgence, with total deal values hitting $61.3 billion in H1 2025. This remarkable increase is a clear indicator of the market's robust momentum driven by domestic consolidation and strategic shifts across key sectors.
Key Takeaways
- India's M&A activity reached $61.3 billion in H1 2025.
- 50% growth compared to the previous year.
- Domestic M&A surged by 138% year-on-year.
- Energy & Power sector dominated with $20.5 billion in deals.
- Investment banking fees increased by 21% year-on-year.
New Delhi, July 2 (NationPress) India's mergers and acquisitions (M&A) landscape displayed remarkable strength in the initial half of 2025, achieving a total deal value of $61.3 billion, as per a recent report released on Wednesday.
This figure represents a significant 50% increase compared to the same timeframe last year, marking the highest first-half total since 2022, according to the latest India Investment Banking Review by LSEG.
The report highlighted a 9% rise in the number of M&A transactions, reflecting ongoing market momentum.
This remarkable growth can be attributed to domestic consolidation, initiatives for energy transition, and strategic portfolio adjustments.
Financial sponsors were instrumental, particularly in sectors such as insurance, technology, and healthcare.
Elaine Tan, Senior Manager at LSEG Deals Intelligence, remarked that India's M&A expansion is fueled by a combination of factors, including the country's commitment to renewable energy and structural reforms in crucial sectors.
"The Energy & Power sector led the charge with $20.5 billion in deals, reflecting a more than 16-fold increase from the previous year," she stated.
Investment banking revenues from Indian operations reached $653.8 million in the first half of 2025, marking a 21% growth year-on-year.
Fees from equity capital market (ECM) underwriting totaled $272.7 million, while debt capital market (DCM) underwriting generated $131.7 million.
Syndicated lending fees surged by 66% to $90.1 million, and M&A advisory fees increased by 56% to $159.3 million.
Domestic M&A activity was particularly robust, soaring 138% year-on-year to $44.8 billion, the highest since 2022.
Conversely, inbound M&A fell to a nine-year low at $10.1 billion, while outbound M&A experienced a 74% increase to $5.8 billion.
The United States continued to be the most active country for both inbound and outbound cross-border transactions with India.
Private equity-backed M&A transactions reached $11.6 billion, marking an 85.7% increase compared to the previous year.
Among the various sectors, energy and power dominated with $20.5 billion in deals, accounting for 33.4% of the total activity.
Financials and healthcare followed closely, contributing $8.8 billion and $6.5 billion, respectively, as reported.
Point of View
I emphasize that the remarkable growth in India's M&A activity signals a resilient economy adapting to prevailing market conditions. The strategic shifts in various sectors, especially in energy and finance, highlight the country's commitment to innovation and sustainability. This momentum not only boosts investor confidence but also positions India as a key player in the global market.
NationPress
11/07/2025
Frequently Asked Questions
What is the total M&A deal value in India for H1 2025?
The total M&A deal value in India for the first half of 2025 is $61.3 billion.
How much did domestic M&A increase year-on-year?
Domestic M&A transactions increased by 138% year-on-year, reaching $44.8 billion.
Which sector led the M&A activity in H1 2025?
The Energy & Power sector led the M&A activity with $20.5 billion in deals.
What was the trend in inbound M&A for H1 2025?
Inbound M&A fell to a nine-year low of $10.1 billion in H1 2025.
How did private equity-backed M&A perform?
Private equity-backed M&A deals reached $11.6 billion, reflecting an 85.7% increase from the previous year.
