The media and entertainment sector topped the charts in terms of value, while the retail and consumer sector continues to lead in terms of deal volume, according to the PwC India report.

The mergers and acquisitions (M&A) deal value soared by 60 per cent, reaching $19.6 billion while private equity (PE) deal value experienced a slight dip.

There were a total of 143 domestic M&A deals, with the largest deal touching $4.5 billion.

“The first quarter of 2024 showcases the best figures in the last six quarters owing to the momentum of the market and large-ticket deals, hinting at a bold appetite for strategic expansion and market dominance,” said Dinesh Arora, Partner & Leader -- Deals, PwC India.

“As deal makers, businesses and investors look towards the future, the energy is palpable,” he added.

This quarter saw 14 deals with value over $500 million, as compared to just nine such deals in Q4 CY23, of which 12 are M&A transactions.

Moreover, the retail and consumer sector continued to display a high deal volume, with 81 deals this quarter, followed by the technology sector which saw 49 deals, the report noted.