Billion-dollar buzz powers India’s deal street

India recorded deals worth $16.8 billion in the month of October across merger and acquisitions (M&A), private equity, initial public offerings (IPOs) and qualified institutional placements (QIPs), according to a report on Wednesday.

The country recorded 189 deals worth $10.6 billion across M&A and private equity (PE), reflecting a 13 per cent decline in volumes, while values surged 63 per cent month-on-month, according to a Grant Thornton Bharat report.

The surge was propelled by three billion-dollar transactions totalling $5.9 billion and 11 high-value deals worth $3.1 billion, together accounting for nearly 85 per cent of total deal value.

“Including public market activity, the total deal count rose to 218 transactions worth $16.8 billion, marking a 134 per cent jump in overall value despite a 6 per cent dip in volumes compared to September 2025,” the report mentioned.

“Banking and Financial Services headlined October deal activity with the largest banking cross-border M&A deal, the biggest foreign investment in an Indian NBFC, and a 1-billion-dollar listing of NBFC,” said Shanthi Vijetha, Partner, Growth, Grant Thornton Bharat.

IPO listings peaked in October with 24 issues, including 2 billion-dollar listings.