In July 2025, India’s dealmaking landscape reached an unprecedented milestone, with 227 transactions amounting to US$ 16.4 billion, according to Grant Thornton Bharat’s Dealtracker. This remarkable performance underscores the strength of investor confidence and the increasing appetite for growth opportunities in the Indian market. The surge was fueled by robust activity across mergers and acquisitions (M&A), private equity (PE) investments, and significant capital market fundraising through initial public offerings (IPOs) and qualified institutional placements (QIPs).

When excluding capital market transactions, there were 200 deals, an 18% increase month-on-month (MoM), with total values jumping 115% to US$ 9.1 billion. The month witnessed three multi-billion-dollar transactions and 15 deals exceeding US$ 100 million, highlighting a climate of strong investor sentiment and aggressive expansion strategies by Indian and global corporations.

M&A Activity
M&A transactions in July stood at 83 deals worth US$ 7 billion, reflecting a 41% rise in deal volume and a staggering 340% surge in deal value compared to June 2025. This growth was driven by high-value domestic and outbound deals, including JSW Paints’ US$ 1.5 billion acquisition of a 75% stake in Akzo Nobel India, which marked one of the largest paints and coatings industry deals in recent years. Other significant transactions further demonstrated the diversity of sectors contributing to M&A activity.

Private Equity Investments
Private equity funding accounted for 117 deals with a combined value exceeding US$ 2 billion. Notable deals included ChrysCapital’s US$ 284 million buyout of Theobroma Foods, a prominent premium bakery chain, and the Abu Dhabi Investment Authority (ADIA)’s US$ 200 million investment in Micro Life Sciences. These transactions indicate strong investor interest in consumer brands and healthcare innovation, sectors that continue to promise scalable growth opportunities in India’s evolving economy.

Capital Market Fundraising
Capital markets had their best month of 2025, with 10 IPOs raising US$ 2.6 billion and 17 QIPs mobilising US$ 4.8 billion. The IPO market benefited from favourable market conditions, strong retail participation, and optimism about India’s growth prospects. QIPs remained attractive for listed companies seeking to raise substantial funds quickly from institutional investors.

Sectoral Highlights
The surge in deal activity was spread across multiple high-growth sectors, including:

• Retail & Consumer: Reflecting the post-pandemic consumption boom and rising disposable incomes.

• Information Technology and IT Enabled Services (IT & ITeS): Continuing to attract investments due to digital transformation trends.

• Pharmaceuticals & Healthcare: Boosted by innovation in healthcare delivery and product development.

• Manufacturing: Supported by the government’s “Make in India” initiative and global supply chain diversification.

• Energy & Natural Resources: Driven by clean energy transition and infrastructure investments.

• Real Estate, Hospitality & Leisure: Benefiting from renewed consumer confidence and travel rebound.

• Aerospace & Defence: Gaining traction through policy support and increasing domestic manufacturing.

Outlook for H2 2025
Given the breadth of deals in July, market analysts anticipate that H2 2025 will sustain strong dealmaking momentum. The combination of robust domestic consumption, government reforms, sectoral growth potential, and global investors’ interest in India positions the country for continued record-setting deal activity.

The performance in July not only reflects short-term optimism but also underlines India’s emerging role as a global investment hub across diverse sectors. With capital markets booming, M&A pipelines growing, and private equity investors aggressively seeking opportunities, the stage is set for an active and competitive deal environment in the months ahead.

The Upcoming IPOs in this week and coming weeks are Studio LSD, Shreeji Shipping Global, Patel Retail.

The Current active IPO are Regaal Resources, Mahendra Realtors and Infrastructure, Bluestone Jewellery and Lifestyle, Icodex Publishing Solutions, Star Imaging and Path Lab, Medistep Healthcare, ANB Metal Cast.

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