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The July edition of the Dealtracker highlights India Inc's resilience, marked by a modest increase in deal volumes and significant growth in M&A activity, driven by domestic deals. Although private equity activity slowed, other market indicators such as QIP issues and IPOs demonstrated buoyancy. Building on this momentum, government initiatives are expected to sustain investor interest and drive future deal activity.
Key insights from Monthly Dealtracker – July 2024:
Overall deal momentum: India Inc witnessed 195 deals totaling USD 8.4 billion, reflecting a modest 16% increase in volumes. The consistent month-on-month volume growth since April 2024 suggests growing investor confidence and domestic resilience, especially around the election period.
Uptick in M&A activity: The M&A activity witnessed a 50% surge in volumes with 75 deals worth USD 3.2 billion, marking the highest monthly volumes, driven by domestic deals that contributed to 73% of the M&A volumes and an impressive 94% of values. Notably, Mankind Pharma’s acquisition of Bharat Serums and Vaccines worth USD 1.64 billion contributed to 52% of the M&A values, while there was a 31% share in the overall month’s values.
Domestic resilience drives cross-border deals: Domestic resilience was also witnessed in the cross-border activity, which saw the highest monthly volumes since October 2018, with 20 deals, dominated by outbound transactions (with 14 deals of 20 deals), mainly deals between India and Europe.
