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India clocks 129 deals, start-ups lead in Oct
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IANS | 22 Nov, 2022
India clocked 129 deals valued at $2.1 billion in the month of October, a
42 per cent fall in volumes and a significant 77 per cent decline in
values as compared to October last year, a report showed on Tuesday.
When compared to September, the deal volumes witnessed an
11 per cent decline while values decreased by 49 per cent due to the
absence of big-ticket transactions, according to Grant Thornton Bharat's
Dealtracker October 2022 report.
The M&A (merger and
acquisition) space recorded 33 deals at $692 million, witnessing a
significant downtrend both in terms of deal volumes by 47 per cent and
deal values by 79 per cent.
The start-up sector led the volumes
with 27 per cent of the deals driven by the enterprise application
segment followed by autotech and edtech segments.
"In view of
inflation, with ongoing improvement in domestic economic activity
supported by private consumption growth and expected support from
festive season demand, Indian domestic demand showed a relatively
healthy growth trend," said Shanthi Vijetha, Partner, Growth at Grant
Thornton Bharat.
Owing to this, macroeconomic strength continues
to manifest in the form of improving high-frequency consumption and
industrial indicators.
"Considering this, we expect domestic deal activity to continue, if not grow, in the coming months," Vijetha added.
Private
equity investments recorded $1,448 million across 96 deals. The PE
investment trend witnessed a drop, both in terms of deal values and
volumes, over October 2021, said the report.
The year to date
(YTD) 2022 recorded 23 initial public offerings (IPO) with an issue size
of $8.8 billion, compared to 43 IPO issues raising $23.5 billion in YTD
2021.
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| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
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84.35
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82.60 |
UK Pound
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106.35
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102.90 |
Euro
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92.50
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89.35 |
| Japanese
Yen |
55.05 |
53.40 |
| As on 12 Oct, 2024 |
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