Indian businesses are buzzing with activity! In August 2025, the country saw a whopping 89 merger and acquisition (M&A) deals totaling $11.4 billion. This marks the highest monthly volume on record and the biggest deal value since June 2022, according to a fresh report from Grant Thornton.
What made this month special? Two massive cross-border deals stole the show. Schneider Electric snapped up a 35% stake in Schneider Electric India for $6.4 billion, while Tata Motors made a bold outbound move by acquiring Iveco S.P.A for $3.8 billion. Together, these two giants accounted for nearly 90% of the entire M&A value.
Breaking it down, domestic deals dominated the numbers, making up 79% of the total volume. But when it comes to big bucks, cross-border transactions ruled, contributing a stunning 95% of the value. This shows how global players are eyeing opportunities in India.
Shifting to private equity (PE), there were 123 deals worth $1.8 billion – a jump in volume from the previous month, though the value dipped by 10%. The average deal size hit a yearly low of $14.8 million, with about 80% of them under $50 million. It’s clear that smaller, steady PE investments are keeping things lively.
Sector-wise, the retail and consumer space led with 36 deals, showing strong interest in everyday businesses. Meanwhile, banking and financial services topped the value chart at $528 million, highlighting where the real money flowed.
August wasn’t just about M&A and PE – it was a blockbuster for initial public offerings (IPOs) too! A record 15 companies hit the stock market, raising $1.9 billion. That’s the highest monthly fundraising figure so far in 2025. On the flip side, qualified institutional placements (QIPs) cooled off, with only 5 deals worth $0.8 billion, down from 17 in July.
Top sectors closing deals included manufacturing, automotive, retail and consumer, and IT, followed closely by banking and financial services, pharma and healthcare, and real estate. Overall, August wrapped up with 232 transactions across M&A, PE, and more, pushing the total deal value to $15.9 billion.
As the report sums it up, this month highlighted mega cross-border M&A deals, solid private equity momentum, and record IPO fundraising. It all points to India’s growing appeal as a tough and exciting spot for investments worldwide.
