India’s corporate deal market surged in Q3 2025, clocking 999 transactions worth $44.3 billion, according to PwC India. This marks a 64% jump in deal value and a 13% rise in volume over the previous quarter, driven by robust M&A activity, private equity momentum, and renewed investor confidence.
From Boardrooms to Billion-Dollar Bets: India’s Q3 Deal Market Breaks Six-Quarter Record
India’s deal-making landscape has hit a historic high. According to PwC India’s latest Deals at a Glance report, the July–September quarter of 2025 saw 999 deals valued at $44.3 billion, making it the strongest quarter in the past six cycles. The surge reflects renewed investor optimism, strategic consolidations, and cross-border interest in India’s growth story.
Major Takeaways from the PwC Report:
M&A Leads the Charge
518 mergers and acquisitions accounted for $28.4 billion, an 80% increase in value and 26% rise in volume compared to Q2.
Year-on-year, M&A volumes grew 64%, with domestic consolidation and global partnerships driving momentum.
Private Equity Stays Strong
481 PE deals totaled $15.9 billion, up 41% in value and 1% in volume quarter-on-quarter.
PE investors are targeting scalable, high-growth sectors, including fintech, healthcare, and renewable energy.
IPO Market Shows Promise
Though smaller in volume, IPO activity reflected strong investor appetite, particularly in tech and consumer segments.
Analysts expect more listings in Q4 as market sentiment remains bullish.
Quarter-on-Quarter Growth
Compared to Q2 2025’s 887 deals worth $27 billion, Q3 saw a 13% increase in deal count and a 64% jump in value.
This signals a broad-based recovery across sectors and deal types.
Investor Confidence Rebounds
The report attributes the surge to macroeconomic stability, policy reforms, and India’s digital transformation.
Cross-border interest is rising, with foreign investors viewing India as a strategic growth hub.
India’s deal market isn’t just growing—it’s evolving. With strategic M&A, resilient PE, and a warming IPO climate, Q3 2025 sets the tone for a dynamic and diversified investment future.
Sources: The Hans India, The Hindu Business Line, IBEF, Times of India