India’s M&A deal volume drops by 23% since CY22 but stabilises during last quarter of CY23, says PwC India

India reported a drop of 23 % in total deal volume while the total disclosed value dropped by 38 % since CY22.

Cumulatively, 1860 deals with a total disclosed deal value at $75 billion were completed in CY23.

In CY23, merger and acquisition (M&A) deals totaled 793, registering a drop of 10 % compared to CY22.

The total disclosed deal value for M&A fell by 38 %, domestic deals fell by 18 %, to 494 in CY23 from 601 deals in CY22.

There was an uptick of 14 % in the volume of inbound deals, outbound deals saw a significant rise of 31 % from last year.

Private Equity (PE) investments dropped by 36 % as compared to the previous year, at $36 billion.

The average investment size per deal increased to $46 million from $42 million last year.

Early-stage investments were 53 % less compared to CY22, growth-stage investments continued to make up the major share, constituting around 73 % of fundings in CY23.

Buyouts demonstrated resilience with only a 5 per cent decline compared to CY22.