M&As pick up pace in Q1

The merger and acquisition (M&As) transactions have picked up pace in the March quarter of 2024 with  455 deals amounting to $25.6 billion deal value announced.

This is a 24 per cent rise in deal volume as compared to Q4CY23, according to PwC India report.

This signals a shift from the declining trend observed in 2023, as per PwC India’s report Deals at a glance.

Dinesh Arora, partner and leader — deals, PwC India, said: “Amid a landscape ripe with opportunities, the Indian economy emerges as a beacon of resilience.

"The first quarter of 2024 showcases the best figures in the last six quarters owing to the momentum of the market and large-ticket deals, hinting at a bold appetite for strategic expansion and market dominance."

The average ticket size for M&A remained unchanged, while the same for PE investments saw a decline of 39 per cent, indicating that although the number of deals increased, the majority of these deals had smaller ticket sizes.

Most deals with disclosed values are in the lower- and mid-market segment, with around 80 percent of the total deals below $50 million.

The largest deal of the quarter comes from the media and entertainment sector, where Reliance Industries signed a deal with Walt Disney Corporation to form a joint venture, combining the businesses of Viacom18 and Star India.