Business

At 190, India Inc inked 50% more deals in May


MUMBAI: May proved to be a busy month with India Inc inking 190 deals aggregating $19. 1 billion. The mergers & acquisitions (M&As) recorded the second-highest monthly values in four years. In May this year, 40 M&A deals at $11. 9 billion were recorded, driven by Adani Group’s $10. 5-billion acquisition of Holcim’s Indian assets, the largest ever in the country’s infrastructure space.
Overall, the month saw a 58% jump in deal volumes and a 140% increase in value year-on-year amid global uncertainties, according to data from Grant Thornton. Four years ago in May 2018, overall deal values stood at $25. 8 billion, marked by US firm Walmart’s $16-billion acquisition of India’s largest e-commerce company Flipkart. Although the count of M&A deals declined, their values have been on the rise (on the back of marquee transactions). Owing to the Adani-Holcim ($10. 5-billion) transaction, cross-border deal value witnessed the highest monthly figure.
“Startup, e-commerce and IT led deal volumes for the month, while manufacturing, media & entertainment and energy topped overall value. Auto, retail, education, pharma and agriculture also witnessed high-value deals apart from the aforesaid sectors,” Grant Thornton Bharat partner (growth) Shanthi Vijetha said.
With 27% of M&A deal volumes, the startup sector continued to drive overall activity. This sector had 11 deals valued at $70 million, and retail tech led volumes with 27%, followed by edtech and auto-tech with two deals each. PE investments witnessed record values and volumes in the month at $7. 2 billion across 150 deals.



Related Articles

Leave a Reply

Your email address will not be published.

Back to top button