Blitz Bureau
NEW DELHI: India’s deal making landscape witnessed a sharp rise of 127 per cent in transaction values during the second quarter of 2026. This included the the combined value of mergers and acquisitions (M&A) and private equity (PE) deals to a quarter-on-quarter to $36.3 billion, according to a report.
According to a report by Grant Thornton Bharat, M&A activity emerged as the key driver of dealmaking during the quarter, with 240 transactions worth $27.9 billion.
While M&A deal volumes declined 12 per cent quarter-on-quarter, deal values jumped 302 per cent, supported by five billion-dollar cross-border acquisitions, it added.
Outbound deals accounted for 84 per cent of the total M&A value, reflecting growing confidence among Indian companies in pursuing global expansion opportunities.
The largest transaction of the quarter was an $11.8 billion overseas acquisition by an Indian pharmaceutical company, making it the biggest outbound acquisition by an Indian pharma firm.
Meanwhile, private equity activity moderated during the quarter, with 325 deals worth $8.4 billion, down 22 per cent in volume and 8 per cent in value compared to the previous quarter.
Despite the slowdown, average deal sizes increased, indicating a shift towards fewer but larger investments.
Shanthi Vijetha, Partner, Growth, Grant Thornton, said India’s deal activity reflected a divergence, with deal values rising sharply on the back of strategic outbound acquisitions even as domestic and private equity activity remained relatively measured amid global uncertainties.
The report further noted that investor confidence in high-growth businesses remained resilient, with four new unicorns emerging during the quarter.
The largest private equity transaction was the $1.6 billion acquisition of the Rajasthan Royals IPL franchise.
