India records 999 deals worth US$ 44.3 billion in Q3 CY25: PwC India
- IBEF
- November 4, 2025
India’s deal market recorded its strongest quarterly performance in six quarters, with 999 transactions worth Rs. 3,93,251 crore (US$ 44.3 billion) during Q3 CY25, up 13% in volume and 64% in value over the previous quarter, according to PwC India’s Deals at a Glance report. Mergers and acquisitions (M&A) led the surge with 518 deals worth Rs. 2,52,107 crore (US$ 28.4 billion), an 80% increase in value and 26% rise in volume QoQ. Private Equity (PE) activity also remained robust with 481 deals worth Rs. 1,41,144 crore (US$ 15.9 billion), up 41% in value and 1% in volume sequentially. Compared to the same period last year, PE investments more than doubled in value. They rose 36% in deal count, underscoring investors’ strong appetite for scalable, high-growth sectors.
The IPO market also witnessed exceptional momentum, with 159 new listings, 50 mainboard and 109 SME IPOs, marking a 156% sequential jump and the highest quarterly tally in 2025. Technology led by value with Rs. 1,18,064 crore (US$ 13.3 billion) across 146 deals. In comparison, retail and consumer businesses topped in volume with 165 deals worth Rs. 38,171 crore (US$ 4.3 billion). PwC India attributed the strong performance to renewed confidence in India’s consolidation story, healthy corporate balance sheets, and a supportive macroeconomic and policy environment, signalling sustained strategic investments and cross-sector partnerships in the coming quarters.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
Partners
