Key Points

The total deal volumes rose by 21 per cent and announced deal values grew by 9 per cent in the first six months compared to H1 CY24, signalling sustained investor confidence and strategic corporate activity despite a volatile second quarter, according to PwC India’s latest report.

M&A activity recorded a 23 per cent increase in H1 CY25 versus H1 CY24, driven by a flurry of transactions in the first quarter of 2025 (Q1 CY25) before experiencing a more cautious environment in Q2 CY25 as corporates recalibrated strategies.

"Domestic M&A transactions climbed 25 per cent, while cross‑border M&A grew by 18 per cent. The outbound transactions surged by 50 per cent, highlighting Indian corporates’ growing appetite for international expansion," the report said.

Private equity investments rose by 20 per cent, underscoring resilience in the sector and ongoing momentum and confidence in India’s growth story.

“Despite a dip in market activity this quarter, investor confidence in private equity remains strong, showcasing resilience and adaptability amidst economic challenges and opportunities," said Shashank Jain, Partner and Leader-Deals, PwC India.

We are seeing funds take a long‑term view, with increased interest in sectors such as healthcare, renewables and technology, setting the stage for a diversified deal pipeline in the months ahead, he added.

According to the report, the retail and consumer sectors led deal volumes with consolidation through startup acquisitions, while financial services dominated in deal value.

Technology, pharma, healthcare and real estate displayed targeted investment strategies anchored in sustainability and innovation.

Meanwhile, healthcare and pharma benefited from expansion and consolidation initiatives, while real estate momentum continued, supported by favourable policies and heightened interest in data centres and warehouses, the report stated.

- IANS