India Inc. reported a total of 501 deals worth $21.4 billion in Q2 2024, according to Grant Thornton Bharat's Dealtracker. As per the consultancy firm, the quarter-ending September 2024 witnessed the highest quarterly volume in two years, while value declined due to the absence of big-ticket mergers and acquisition transactions.
The merger and acquisition and private equity deals taken together stood at 467, valued at $14.9 billion, reflecting a 9% increase in volume but a 28% decrease in value, primarily due to the previous quarter's $8.5 billion Reliance-Disney mega merger, Grant Thornton said.
The just-ended quarter featured a one-billion-dollar deal and 30 high-value deals (over $100 million), which translates to a 58% increase in high-value deals as compared to the previous quarter.
"Indian corporates are increasingly investing domestically, reflecting strong confidence in the local investment climate," Grant Thornton said in a release.
Despite declining cross-border deals due to geopolitical instability, traditional sectors grew in volume over the previous quarter.
"With recent election results and anticipated policy clarity from the upcoming budget, political stability is expected to boost investor confidence and drive deal activity in the next six months," it said.
Shanthi Vijetha, partner-growth at Grant Thornton Bharat said that the quarter witnessed robust private equity activity and large domestic deals.
"Despite a decline in cross-border deals due to geopolitical uncertainties, domestic investment remained strong. Traditional sectors like pharma and manufacturing also saw strong deal flows, collectively contributing nearly half of the deal values," Vijetha said.
According to Vijetha, the industry anticipates policy continuity, which should positively drive the deal activity.
(With Inputs From PTI)
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