India’s Deal Activity Surges to $16.8 Billion in October: M&A, PE, IPOs Drive Momentum
India recorded deals worth $16.8 billion in the month of October across mergers and acquisitions (M&A), private equity, initial public offerings (IPOs), and qualified institutional placements (QIPs), according to a report on Wednesday. The country recorded 189 deals worth $10.6 billion across M&A and private equity (PE), reflecting a 13 percent decline in volumes, while values surged 63 percent month-on-month, according to a Grant Thornton Bharat report.
The surge was propelled by three billion-dollar transactions totalling $5.9 billion and 11 high-value deals worth $3.1 billion, together accounting for nearly 85 percent of total deal value. “Including public market activity, the total deal count rose to 218 transactions worth $16.8 billion, marking a 134 percent jump in overall value despite a 6 percent dip in volumes compared to September 2025,” the report mentioned.
“Banking and Financial Services headlined October deal activity with the largest banking cross-border M&A deal, the biggest foreign investment in an Indian NBFC, and a 1-billion-dollar listing of an NBFC,” said Shanthi Vijetha, Partner, Growth, Grant Thornton Bharat. IPO listings peaked in October with 24 issues, including 2 billion-dollar listings.
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