India Inc sees 63% surge in deal value at $8.7 Bn

12 Sep 2024 CW Team

Private Equity (PE) deals had contributed 68% of the total deal volume, with seven high-value deals, each worth $100 million, collectively amounting to $1.7 billion, surpassing the previous month's total of seven deals valued at $1.4 billion. This activity had been seen as a reflection of a vibrant market, with investors showing confidence in India’s growth across various sectors, despite global economic uncertainties.

Shanthi Vijetha, Partner, Growth at Grant Thornton Bharat, had reportedly remarked that India’s ability to attract capital and foster innovation across critical industries had been clearly demonstrated. Vijetha had expressed expectations that strong interest would continue, with themes such as digitisation, cleantech, mobility, and aerospace and defense likely to remain in focus in the near future.

The telecom sector had led M&A values, largely due to Bharti Enterprises’ $4 billion acquisition of a 25% stake in British Telecom Group, which had been noted as the second-largest deal of the year. The BFSI sector had recorded the second-highest deal values and the third-highest volumes, with 29 deals worth $1.8 billion, driven by higher interest rates and strategic acquisitions, with fintech leading in terms of volumes.

The energy and renewables sector had seen strong deal activity, with five deals worth $518 million, reflecting India’s continued push towards energy transition and sustainability. Meanwhile, the retail and consumer segment had recorded 33 deals worth $458 million, with consumer services, e-commerce, and personal care driving activity, despite a slight decrease in deal values, according to the report.

India Inc had experienced a significant 63% increase in deal value for the month of August, reaching $8.7 billion, despite ongoing geopolitical challenges, according to a report released on Monday. The telecom, energy, and electric vehicle (EV) sectors had been the standout performers during this period. Excluding IPOs and Qualified Institutional Placements (QIPs), there had been a total of 179 deals, representing a modest 3% rise in overall volumes. Mergers and acquisitions (M&A) had dominated the landscape, accounting for 71% of the total deal value, as reported by the Grant Thornton Bharat Dealtracker. Private Equity (PE) deals had contributed 68% of the total deal volume, with seven high-value deals, each worth $100 million, collectively amounting to $1.7 billion, surpassing the previous month's total of seven deals valued at $1.4 billion. This activity had been seen as a reflection of a vibrant market, with investors showing confidence in India’s growth across various sectors, despite global economic uncertainties. Shanthi Vijetha, Partner, Growth at Grant Thornton Bharat, had reportedly remarked that India’s ability to attract capital and foster innovation across critical industries had been clearly demonstrated. Vijetha had expressed expectations that strong interest would continue, with themes such as digitisation, cleantech, mobility, and aerospace and defense likely to remain in focus in the near future. The telecom sector had led M&A values, largely due to Bharti Enterprises’ $4 billion acquisition of a 25% stake in British Telecom Group, which had been noted as the second-largest deal of the year. The BFSI sector had recorded the second-highest deal values and the third-highest volumes, with 29 deals worth $1.8 billion, driven by higher interest rates and strategic acquisitions, with fintech leading in terms of volumes. The energy and renewables sector had seen strong deal activity, with five deals worth $518 million, reflecting India’s continued push towards energy transition and sustainability. Meanwhile, the retail and consumer segment had recorded 33 deals worth $458 million, with consumer services, e-commerce, and personal care driving activity, despite a slight decrease in deal values, according to the report.

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