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India closed mergers and acquisitions worth $104.3 billion this year and raised $6 billion through IPOs

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India Inc signed 1,149 deals worth $104.3 billion in the first half of this year amid global uncertainties, and the country saw $6 billion from 17 IPOs — the highest values ​​raised in the first six months, so a report showed on Thursday.



The numbers represent a significant 34 percent increase in total deal volumes, while deal value more than doubled (up 143 percent) from the same period last year, according to the report. Grant Thornton Bharat Deal tracker report.

Driven by HDFC Bank and HDFC Ltd‘s $40 billion merger, LTI and mindtree merger ($17.7 billion) and Adani Group-Holcim Ltd’s $10.5 billion deal, the value of mergers and acquisitions recorded more than twice as much from H1 2021.

These three deals alone accounted for 86 percent of the total M&A value in H1 2022.

“Amid macroeconomic stress, general deal sentiment is expected to continue for 2022, given government support on infrastructure spending, supply-side response and key fiscal measures,” he said. Shanthi Vijetha, PartnerGrowth, Grant Thornton Bharat.

“However, companies and, most importantly, PE/VCs may take a cautiously optimistic approach as the impact of the global economic slowdown on the Indian economy becomes apparent,” Vijetha added.

While private equity deal activity continued to dominate total deal volumes at 3/4th share, deal value was driven by mergers and acquisitions at 76 percent of total deal value in H1 2022.

The startup, e-commerce and IT sectors led deal activity in H1 2022, accounting for 76 percent of all deals, followed by the retail, education and pharmaceutical sectors.

The M&A space saw significant growth in the first half, with 284 deals and 27 percent growth from H1 2021.

The banking and financial sector had the highest contribution of 53 percent in terms of total deal value in H1 2022, followed by the IT and manufacturing sectors.

Private equity and venture capital investments saw record volumes and values ​​in the first six months with 865 deals worth $25.1 billion.

However, there was a 12 percent and 15 percent decline in investment volumes and values ​​in H2 2021 (the preceding six months), the report said.

“The decline in deal value is due to a decline in major investment coupled with prevailing factors including geopolitical tensions, stock market volatility, concerns over commodity price increases and the impact of inflation,” the report said.

Nevertheless, large funds such as Tiger worldwideWestbridge, Baring PE, TPG, Brookfield, Blackstone and Warburg Pincus, among others, continued to keep pace with their operations.

The startup space attracted the most investment with $5.1 billion in 550 deals, a 69 percent growth in deal value.

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