India M&A activity jumps 2024
The year 2023 have end on a sombre note for mergers & acquisitions (M&A) activity for India, with deal value being lower than levels achieved in 2022. Bloomberg data shows that deal value for India fell 63 percent to $70.9 billion in comparison to $192 billion struck in 2022. A more worrisome trend is being witnessed in global M&A, with annual value down to $2.7 trillion—possibly the worst performance since 2013.
After hitting a three-year low in 2023, India-involvement announced M&A activity came back in January 2024, jumping 78 percent in deal value. January 2024 recorded 142 deals valued at USD 6.1 billion, witnessing strong growth compared to 124 deals valuing USD 5 billion recorded in December 2023. The uptrend in the deal activity was driven by a positive trend witnessed in the PE activity due to the presence of two billion-dollar investments totalling USD 3.6 billion. The biggest deal of the month was Data Investment Trust's acquisition of ATC India Tower Corporation, a telecom infrastructure company, which accounted for nearly 41% of the total deal value at USD 2.5 billion.
