February Sees Unprecedented M&A and Private Equity Surge: $7.2 Billion in Record-Breaking Deals

In February 2025, India’s mergers and acquisitions (M&A) and private equity (PE) activities reached an impressive milestone, totaling $7.2 billion—the highest monthly figure seen in three years. According to a report from Grant Thornton Bharat, this surge represents a significant 67% increase from February 2024, showcasing the resilience of the Indian market amidst global economic challenges.

Record-Breaking M&A Activity

The report highlights that February 2025 was marked by 85 M&A deals valued at $4.8 billion. Notably, domestic transactions made up 68% of the total M&A volume and an impressive 78% of the overall value. This trend is particularly striking given the backdrop of declining foreign investments and potential trade tariffs impacting the Indian economy.

Key Statistics:
- 67% increase in deal volumes from February 2024.
- 14% growth compared to January 2025.
- Dominance of domestic deals in overall metrics.

“Despite global economic challenges, including reduced foreign investments in public markets, the Indian M&A landscape is thriving, driven by strong local demand,” the report noted.

Noteworthy Transactions

Among the significant M&A activities, companies such as Zen Technologies and Nitco Ltd were involved in pivotal deals, alongside ONGC-NTPC Green Energy, which acquired Ayana Renewable Power. These transactions underscore the growing activity in sectors like IT & ITES, pharmaceuticals, and healthcare.

Surge in Private Equity Deals

In February 2025, the private equity sector also saw robust activity, with 141 deals totaling $2.4 billion—the highest volume recorded since May 2022. This growth marks a steady increase in PE transactions, continuing a trend that began in November 2024.

Significant PE Investments:
- Cube Highways invested $487 million.
- Multiples Alternate Asset Management contributed $200 million.

“The M&A environment in February 2025 showed a unique combination of increasing volumes, while the overall values have seen a decline since December 2024,” the report elaborated. The data indicates that domestic transactions remain a pivotal force in driving the market forward.

Conclusion

With strong performances across various sectors, including retail, banking, and biotech, India’s M&A and PE landscape is clearly on an upward trajectory. As the market navigates global uncertainties, the resilience of domestic demand continues to play a crucial role in shaping the future of business transactions in the country.

For more insights on investment trends in India, check out our latest articles on market performances and economic forecasts.