India leads Asia-Pacific region's M&A deals in first quarter of 2024: S&P Global

In the first quarter of 2024, India stood out in the Asia-Pacific region's financial sector with the highest number of merger and acquisition deals, totalling 27, compared to its counterparts such as Japan, Australia, South Korea, and Mainland China. While deal volumes across the region dropped by 14% year-on-year, India saw a slight increase from the previous year, showcasing resilience amidst economic uncertainties and geopolitical risks. Notably, India's strong forecast and robust deal-making potential were highlighted by AsiaLink Business CEO Leigh Howard, indicating promising prospects for continued growth in the sector.

Despite the overall decline in deal numbers, India demonstrated significant activity in terms of deal value, with four of the top 10 deals by value closed within the country, totalling US$ 845.79 million. The largest of these was Sumitomo Mitsui Financial Group's acquisition of SMFG India Credit for US$ 700 million, reflecting investor confidence and interest in India's financial landscape.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.