Report: India sees resurgence in deals with $24.5 billion in Q1

New Delhi saw an unprecedented surge in dealmaking in the first quarter of this year, with 469 deals worth $24.5 billion, according to a report by ‘Grant Thornton Bharat Dealtracker.’ The resurgence was driven by factors like robust private equity activity, a rebound in IPOs, and high-value transactions, with the mega-merger between Reliance and Disney being the deal of the quarter.

Shanthi Vijetha, Partner, Growth, Grant Thornton Bharat, stated, “The uptick in PE activity, highlighted by the emergence of two unicorns and high-value deals across traditional sectors, provides hope for continued growth and investment opportunities.” The PE landscape saw 307 deals totalling $8.1 billion, with two billion-dollar deals and eight high-value deals collectively contributing to 70% of the total PE deal values.

The top deal of the quarter was Data Investment Trust’s investment of $2.5 billion in ATC India Tower Corporation. India also saw the birth of two unicorns – Krutrim SI Designs and Perfios. Traditional sectors like telecom, infrastructure, retail, and media dominated deal values, while retail, IT, and banking led in terms of volumes, according to the report by ‘Grant Thornton Bharat Dealtracker.’

With upcoming events such as the elections and a strong pipeline of deals, the outlook for 2024 remains optimistic, said Vijetha. The first quarter of this year has set a strong foundation for dealmaking, with significant activity in both volume and value terms, signifying positive growth and investment opportunities in the country.