India's M&A Deal Value Surges 115% in July: A Detailed Analysis

India's dealmaking landscape witnessed a significant surge in July 2025, with a remarkable 115% growth in deal value, driven by strong M&A and capital market activities.

MaDeal ValueIndian EconomyCapital MarketsIposReal EstateAug 11, 2025

India's M&A Deal Value Surges 115% in July: A Detailed Analysis
Real Estate:NEW DELHI: India's dealmaking landscape witnessed a significant surge in July 2025, with a remarkable 115% growth in deal value (excluding capital market deals). According to the Grant Thornton Bharat Dealtracker, the total value of deals reached $16.4 billion across 227 transactions. This growth was fueled by strong momentum in both mergers and acquisitions (M&A) and capital market activities, including IPOs and QIPs.

Excluding capital market deals, July saw an 18% rise in deal volumes, from 169 in June to 200, and a remarkable 115% surge in values—from $4.2 billion to $9.1 billion, the report said.

The mergers and acquisition (M&A) landscape saw a sharp increase, with 83 deals valued at $7 billion, a 340% jump in value from June. The month featured three billion-dollar deals, with the largest being JSW Paints' $1.5 billion acquisition of a 75% stake in Akzo Nobel India Ltd.

While overall PE investment value saw a 23% decline to $2 billion, deal volumes increased by 6% to 117. The sector saw selective big-ticket deals, including ChrysCapital's $284 million acquisition of a 90% stake in Theobroma Foods. Retail & Consumer and IT/ITES were the most favored sectors, accounting for nearly half of the month's activity.

Public market activity reached its highest monthly fundraising value of the year. 10 IPOs raised a combined $2.6 billion, and 17 Qualified Institutional Placements (QIPs) mobilized $4.8 billion.

“July witnessed a notable uptick in deal activity, driven by high-value transactions in both domestic and outbound segments. The rise in billion-dollar M&A activity, coupled with buoyant capital markets and strategic secondary exits, indicates that this momentum is likely to carry forward into the second half of the year,” says Shanthi Vijetha, Partner, Growth, Grant Thornton Bharat.

Sectoral Performance

Retail & Consumer led deal volumes, while Pharma, Healthcare & Biotech were the top value contributor, driven by a $1.5 billion deal between Torrent and JB Chemicals. Other sectors with significant activity included Manufacturing, Energy & Natural Resources, and Real Estate.

Frequently Asked Questions

What was the total deal value in July 2025?

The total deal value in July 2025 reached $16.4 billion across 227 transactions.

How much did the deal value grow in July 2025 compared to June?

The deal value grew by 115% in July 2025 compared to June.

What was the largest M&A deal in July 2025?

The largest M&A deal in July 2025 was JSW Paints' $1.5 billion acquisition of a 75% stake in Akzo Nobel India Ltd.

Which sectors saw the most deal activity in July 2025?

Retail & Consumer and IT/ITES were the most favored sectors, while Pharma, Healthcare & Biotech were the top value contributors.

How much did public market activities raise in July 2025?

Public market activities, including 10 IPOs and 17 QIPs, raised a combined total of $7.4 billion in July 2025.

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