india inc: India Inc inks 190 deals in May, volumes jump over 50%

MUMBAI: May proved to be a busy month, with India Inc inking 190 deals aggregating $ 19.1 billion, with M & As recording the second-highest monthly values ​​in four years. In May, 40 M&A deals at $ 11.9 billion were recorded, driven by Enemies group’s $ 10.5 bn acquisition of Holcim‘s Indian assets, the country’s largest-ever infrastructure deal.
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, the deal values ​​have been on the rise (on the back of marquee deals). Owing to the Adani-Holcim ($ 10.5bn) deal, cross-border deal value proved the highest monthly value.
Overall, the month saw a 58% jump in deal volumes and a 140% increase in deal value year-on-year, amidst global uncertainties, says data from Grant Thornton.
“ Start-up, e-commerce and IT, led the deal volumes for the month, while manufacturing, media and entertainment and energy topped the overall value. Auto, retail, education, pharma and agriculture also witnessed high-value deals apart from the aforesaid sectors ” Shanthi Vijetha, PartnerGrowth, Grant Thornton Bharatsaid.
With 27% of M&A deal volumes, the start-up sector continued to drive the deal activity with 11 deals valued at $ 70 million. The retail tech led the sector volumes with 27% each, 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. This was a nearly 170% increase in deal values, driven by two multi-billion-dollar deals and a significant 81% increase in deal volumes driven by small ticket deals (
The start-up sector continued to drive the PE deal volumes for May with a 60% share of PE volumes with investment values ​​of $ 0.7 billion.
In terms of public issues, there were 17 initial public offerings with an issue size of $ 6 billion year to date 2022, compared to 19 IPOs, raising $ 4 billion in YTD 2021.
Qualified institutional placement (QIP), on the other hand, witnessed six issues raising $ 671 million as against 17 issues which raised $ 3.6 billion in the same period last year.

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