May sees 190 M&A deals, deal volumes grew by more than 50%: Grant Thornton

Haripriya Sureban _11686 | Updated on: Jun 13, 2022

management | Photo Credit: claudenakagawa

With 27 per cent of M&A deal volumes, the start-up sector continued to dominate the deal activity during May


Bengaluru, June 13 

India Inc inked 190 merger and acquisition (M&A) deals aggregating to $19.1 billion in May 2022, according to Grant Thornton Bharat Dealtracker Report May 2022.

While overall deal volumes grew by more than 50 per cent, values jumped more than double recording the second highest monthly values in the last four years. 

The month saw acquisition in the infrastructure and materials space - Adani Group acquisition of Holcim’s Indian assets (Ambuja Cement and ACC Ltd) for $10.5 billion. The month also witnessed Larsen & Toubro Infotech and MindTree Ltd merger, the report noted. 

Multi-billion-dollar deals

Three multi-billion-dollar deals and 12 deals estimated and valued at and over $100 million each together aggregating to $17.4 billion were some of the highlights of May.

May 2022 recorded 40 M&A deals aggregating to $11.9 billion. With 27 per cent of M&A deal volumes, the start-up sector continued to dominate the deal activity with 11 deals valued at $ 70 million. Further, other high-value acquisitions of over $100 million were witnessed in the automotive (auto ancillary) and media and entertainment (entertainment) sectors. These high-value deals helped drive sector values for the month.

The report further stated that private equity (PE) investments witnessed record values and volumes for May at $7.2 billion across 150 deals. This was a 169 per cent increase in deal values, driven by two multi-billion-dollar deals and a 81 per cent increase in deal volumes driven by small ticket deals (less than $49 million) equalling 72 per cent of total PE deal volumes. 

The start-up sector continued to drive the PE deal volumes for May 2022 with a 60 per cent share of PE volumes with investment values of $0.7 billion, the report said.

Published on June 13, 2022
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