Thought leadership

Monthly Dealtracker - October 2023

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October 2023 registered steady deal volumes with a 14% increase to 122 deals. Deal values declined 41% to USD 2.2 billion as compared to September 2023. This is primarily due to the absence of big-ticket M&A transactions. The deal scenario in the month was dominated by small PE investments. There were only four high-value deals valued at USD 100 million. The PE space dominated the month’s overall activity with 83% volumes and 89% values in the month. October marked the third-highest monthly volumes after January and June. Among sectors, start-ups led the overall volumes, followed by e-commerce and IT and ITES. Retail and consumer, automotive, IT, and e-commerce sectors led in deal values. The biggest deal of the month was of The Abu Dhabi Investment Authority, which made a significant investment of USD 598 million acquiring a 0.6% stake in Reliance Retail Ventures Ltd. It constituted 28% of the total values for the month.