India’s deal-making landscape witnessed a landmark year in 2024, with a record 2,186 deals valued at $116 billion, marking a 33 percent increase in volumes and a 76 percent surge in values year-over-year, a report showed on Tuesday.
Driven by India’s status as the fastest-growing G20 economy, with a 7 percent growth rate propelled by robust domestic demand, the country’s deal-making activity reached new heights, defying global economic uncertainty and demonstrating the resilience of its economy, according to the Grant Thornton Bharat ‘Annual Dealtracker 2024’.
“As we look ahead to 2025, we are optimistic about the prospects for continued robust deal activity, fueled by government reforms, a stable economy, and a thriving tech ecosystem, making India an attractive destination for investors despite global uncertainties,” said Shanthi Vijetha, Partner, Growth at Grant Thornton Bharat.
The mergers and acquisitions (M&A) landscape witnessed a record-breaking year, with 683 deals valued at $44.1 billion, marking a 37 percent increase in volumes and a 75 percent surge in values compared to the previous year.
Domestic consolidation drove growth, with 479 deals amounting to $23.5 billion, a 64 percent increase in values, led by Indian conglomerates such as Adani Group, Aditya Birla Group, and Nazara Technologies. Outbound M&A also saw significant growth, with 121 deals valued at $16.9 billion, driven by two billion-dollar deals, according to the report.
The private equity landscape demonstrated resilience in 2024, with 1,298 deals raising $31 billion, up from 1,046 deals valued at $27.4 billion in 2023. The year witnessed a 26 percent rise in high-value deals (estimated at and over $100 million) and two billion-dollar deals.
The initial public offerings (IPO) activity reached unprecedented heights in 2024, defying global economic headwinds, with 86 listings raising a record $21 billion, more than triple the $6.2 billion raised in 2023, said the report.
