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The sale of Air India to the Tatas helped the case to sizzle in October which saw a total of 221 deals worth $ 9.2 billion, 24% more than money changed hands the same months in 2020, according to an industry report.
According to Grant Thornton’s dealtracker report released on Monday, October has been encouraging, both in terms of transaction volume and value, indicating the continuum of transaction activity. While the volume has jumped twice compared to October 2020, in terms of value it has increased by 24%.
In October, 61 mergers and acquisitions worth $ 3.3 billion were announced, including $ 2.4 billion for the Tatas who paid the government for the national airline Air India, and 160 capital transactions -investment worth $ 5.9 billion, or 62% more. than a year ago, according to data collected by the agency.
With 61 transactions, mergers and acquisitions are the highest since 2015, up 62% in volume and 25% in value.
The month also saw the birth of five new unicorns: Coinswitchkuber, insurance broker Acko General Insurance, fintech Faasoos, food tech actor Licious and education company Vedantu.
A major Series A funding round with Credavenue raising $ 90 million was also announced this month.
Out of total deals, mergers and acquisitions alone brought in $ 3.3 billion, led by startups and IT sectors, which continued to generate volumes at 24% and 8% respectively with an aggregate value of 391. million USD; Hospitality and leisure, pharmaceutical and healthcare, e-commerce, retail and consumer sectors accounted for 32% of mergers and acquisitions. The largest transaction was the acquisition of Air India by Tatas for a total value of $ 2.4 billion.
Domestic consolidation continued to dominate the M&A street with 79 percent of deals coming from the domestic market, again thanks to the Air India deal.
On the private equity front, no less than 160 deals worth $ 5.9 billion were announced in October, led by 14 high-value investments in startups, which occupied 70% of the volume.
While the transaction volume almost doubled compared to October 2020, its value fell 11% due to a lower average transaction size, from $ 78 million in October 2020 to $ 37 million in October 2021. However, , the month saw 14 high-value investments, including Tata. Motors’ EV branch raises $ 1 billion.
(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)
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