India recorded deals worth $16.8 billion in October across mergers and acquisitions (M&A), private equity (PE), 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 PE, reflecting a 13 per cent decline in volumes, while values surged 63 per cent month-on-month, according to a Grant Thornton Bharat report.
The surge was propelled by three billion-dollar transactions totaling $5.9 billion and 11 high-value deals worth $3.1 billion, together accounting for nearly 85 per cent of the total deal value.
“Including public market activity, the total deal count rose to 218 transactions worth $16.8 billion, marking a 134 per cent jump in overall value despite a 6 per cent dip in volumes compared to September 2025,” the report stated.
“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 listing of an NBFC,” said Shanthi Vijetha, Partner, Growth, Grant Thornton Bharat.
IPO listings peaked in October with 24 issues, including two billion-dollar listings.
“We expect sustained deal momentum across sectors supported by high-value strategic transactions, resilient private capital flows, and vibrant public market participation,” Vijetha added.
In the M&A landscape, the month saw 69 deals valued at $7 billion, with volumes declining 23 per cent month-on-month, reaching the third-lowest level of volumes in the year.
Meanwhile, the private equity segment remained resilient, recording 120 deals worth $3.6 billion, reflecting a 21 per cent increase in values and a 6 per cent decline in volumes compared with September.
In the IPO and QIP segment, public market fundraising hit a new peak in the month, with 24 IPOs raising $5.1 billion and 5 QIPs adding another $1.1 billion, taking total public market proceeds beyond $6.2 billion.
The IPO activity marked the highest monthly performance of 2025, led by Tata Capital and LG Electronics, both surpassing the $1 billion threshold, the report noted.
–IANS
