India’s deal activity hits $16.4 bn in July, M&A up 115 pc MoM

India’s deal landscape recorded 227 transactions in July, valued at $16.4 billion, due to a surge in mergers and acquisitions (M&A) activity and capital market issuances, a report said on Monday.
Excluding capital market deals, deal volumes rose from 169 to 200 on a MoM basis, and there was a remarkable 115 per cent surge in values — from $4.2 billion to $9.1 billion, according to the report from business advisory firm Grant Thornton Bharat.
During the month, there were three deals valued over a billion dollars and 15 large-ticket transactions exceeding $100 million, indicating strong investor confidence across various sectors. Shanthi Vijetha, Partner, Growth, Grant Thornton Bharat, said: “July witnessed a notable uptick in deal activity, driven by high-value transactions in both the domestic and outbound segments.
The rise in billion-dollar M&A activity, coupled with buoyant capital markets and strategic secondary exits, indicates that this momentum is likely to carry forward into the second half of the year.”
In the M&A landscape, 83 deals valued at $7 billion were recorded, up 41 per cent in volumes and 340 per cent in values sequentially. High-value domestic and outbound transactions led to this surge.
The standout transaction of the month was JSW Paints Ltd’s acquisition of a 75 per cent stake in Akzo Nobel India Ltd, valued at $1.5 billion, the report said.
The retail and consumer goods sector led deal volumes (22 per cent share) with a 5.4 times value surge driven by four deals exceeding $100. Deal volume in the IT & ITeS sectors tripled, as value rose 7.7 times, led by strong interest in data analytics and AI firms.
The resurgence in M&A signals growing boardroom confidence and strategic intent among corporates, setting a robust foundation for dealmaking in the second half of the year, it added.
The month saw 10 IPOs collectively raising $2.6 billion and 17 Qualified Institutional Placements (QIPs) mobilising $4.8 billion. Capital market activity increased, supporting strong M&A and PE deal flow and indicating a positive change in corporate fundraising strategies.