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India records 221 M&A deals worth $9.2 bn in Oct; highest since 2015

Mumbai, Nov 15 (IANS) India Inc has witnessed 221 M&A deals amounting to $9.2 billion in October 2021, which is the highest since 2015.

According to Grant Thornton Bharat Dealtracker, October has seen an 11 per cent increase in deal activities as compared to September 2021. It said that the deal volumes have doubled on a YoY basis.

Acquisition of Air India by Tatas, and deals in start-up and IT sectors also aided October M&A numbers, the Dealtracker cited.

"The economy is being bolstered by the rapid improvement in high-frequency indicators such as the e-way bills, GST collection, power demand, rail freight and exports growth. The current pace is likely to re-establish economic growth momentum," said Shanthi Vijetha, partner at the Grant Thornton Bharat. Also, positive domestic business sentiment across sectors and an economic recovery globally, continue to aid the overall trend, it added.