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Mergers and acquisitions in India jumped by more than a third to $109 bn in 2024: report
Prominent deals during the year included the mergers of Viacom and Disney and Aster DM with Quality Care, alongside Bharti Group’s acquisition of a stake in BT Group
Mergers and acquisitions (M&As) last year in India surged 38% year-on-year to $109 billion in a sign of robust investor confidence in the country, according to a report.
Prominent deals during the year included the mergers of Viacom and Disney and Aster DM with Quality Care, alongside Bharti Group’s acquisition of a stake in BT Group, The Economic Times reported, citing a Kotak Mahindra Investment Bank report.
Indian conglomerates such as Adani Group, Reliance, and Birla Group have been also been aggressively looking for strategic expansions across industrials, infrastructure, and technology.
Last year, India’s equity capital markets saw record fundraising of $74 billion, including $22 billion from initial public offerings (IPOs) and follow-on public offerings (FPOs), $20 billion through qualified institutional placements (QIPs), and $32 billion from block trades, with expectations of a robust $35 billion IPO pipeline in the coming months.
“Of the $32 billion raised through sell-downs, multinational companies, Indian promoters, and private equity investors contributed almost equally, leveraging market buoyancy to unlock liquidity,” ET reported Kotak Mahindra Invest Bank managing director V. Jayasankar as saying.
Multinational firms increasingly favored Indian public markets for monetization, raising $10 billion last year, which was up from $3 billion in the previous year, the report said.
Hyundai Motor India’s $3.3 billion IPO, the largest in India to date, succeeded despite a slight discount at its October listing, encouraging other global firms to consider Indian IPOs.
India’s fundraising spans multiple sectors, backed by $62 billion from domestic investors—half of which comes from systematic investment plans (SIPs)—buffering against volatile foreign institutional investor inflows.
Equity markets saw strong participation from states such a Bihar, Uttar Pradesh, and Madhya Pradesh, with demat accounts reaching 180 million by October 2024 and IPO returns averaging 32.8%.
In 2024, private equity (PE) investors drove $30 billion in M&As, with $11 billion in telecom, pharmaceutical, healthcare, IT, and software as a service (SaaS) buyouts.
Exits in PE were led by IPOs, secondary sales, and strategic deals.
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