India records 220 deals worth $22.8 billion in April amid geopolitical tensions: Report
New Delhi, May 13
India recorded 220 deals worth $22.8 billion in April 2026 because of a substantial surge in outbound mergers and acquisitions activity despite ongoing global macroeconomic and geopolitical uncertainties, a report showed on Wednesday.
The report by Grant Thornton Bharat highlighted that five billion-dollar deals contributed $17.4 billion during the month, accounting for nearly 80 per cent of the total deal value.
Moreover, M&A activity emerged as the key driver of overall deal values, with 103 transactions worth $18.7 billion recorded during April, which is the highest monthly M&A value since May 2022, it said.
M&A values surged by nearly 1000 per cent month-on-month, while deal volumes increased 10 per cent during the period.
Meanwhile, outbound activity dominated the deal landscape with 21 transactions worth $17.7 billion.
In terms of private equity (PE) investments, the segment experienced selective but resilient growth, with 109 deals worth $3.2 billion announced the month.
However, PE deal volumes declined to the lowest monthly level of the year, while values remained the second-highest year-to-date that indicated a shift towards fewer but larger transactions.
Additionally, public markets also remained active during the month as six IPOs raised $450 million and two qualified institutional placements (QIPs) mobilised $548 million.
According to Shanthi Vijetha, India's deal landscape witnessed a strong month with the return of large-ticket outbound transactions.
She said global acquisitions by Indian companies reflected growing strategic ambition despite prevailing macroeconomic uncertainty, while continued momentum in IPOs and QIPs highlighted the strength of India's capital markets ecosystem.
Sector-wise, pharmaceuticals emerged as the leading sector by value, while infrastructure and manufacturing also witnessed strong activity through large-ticket transactions.
Meanwhile, retail and consumer, along with IT and ITeS, remained the most active sectors by deal volume, while real estate emerged as the most active M&A sector by volume for the first time, jointly leading with energy and natural resources at 16 deals each.
— IANS
Reader Comments
Good numbers, but let's also look at the ground reality. While big deals are happening, small businesses are struggling with inflation and high interest rates. The IT and pharma sectors might be booming, but the common man's purchasing power isn't growing at the same pace.. Need more inclusive growth, ji.
Wow! The fact that real estate is now leading M&A by volume alongside energy is huge. Property sector always bounces back. And pharma leading by value? No surprise there - India's generic drug manufacturing is world-class. But I hope these deals also mean more jobs for our youth 🎯
Honestly, these numbers seem impressive but I'm a bit skeptical. Outbound deals worth $17.7 billion? Are Indian companies going on a buying spree when global interest rates are high? Hope proper due diligence is being done. Don't want a repeat of the 2008-style over-leverage situation. Just saying..
Six IPOs raising $450 million and QIPs of $548 million shows the capital markets are buzzing! Retail investors like me are also getting more opportunities. But let's be careful - with geopolitical tensions, valuations could get volatile. Still, the fact that India is attracting this much capital despite everything is a testament to our economic resilience 😊
As someone working in the M&A space, I can confirm - the deal momentum is real. Infrastructure and manufacturing are seeing huge appetite from global funds wanting to diversify supply chains away from China. India is perfectly positioned. But we need faster regulatory approvals and better ease of doing business to sustain this, beta. Woh thoda
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