Mergers and acquisitions’ deal value in India jumps 31 pc to $86.9 billion

Overall, dealmaking continues to focus on scale, portfolio realignment, and selective outbound expansion into developed markets

"Equity capital markets (ECM) activity in India eased to a three-year low during H1 2026, with total ECM proceeds dropping 38 per cent from a year ago to $16.5 billion, alongside a 19 per cent drop in number of issues, reflecting a slower pace of capital raising amid more selective market conditions," said Elaine Tan, Senior Manager, Deals Intelligence, LSEG.

Despite softer proceeds in H1 2026 after a strong 2025, IPO volumes remained elevated with over 100 listings, reflecting continued breadth in market activity, and setting the stage for a stronger second half, as marquee IPOs come to market, Tan added.

India investment banking activities generated an estimated $614.1 million in fees in H1 2026, down 20 per cent year‑on‑year.

ECM underwriting fees fell 34 per cent year‑on‑year to $188.6 million, while completed M&A advisory fees grew 24 per cent year‑on‑year to $265.0 million.

"Target India M&A activity totalled $68.0 billion, up 12.2 per cent from the same period last year. Domestic M&A grew 8.7 per cent year-on-year to $54.2 billion. Inbound M&A reached $13.8 billion, marking a 28.8 per cent increase from a year ago and the highest first‑half total since 2024," the report said.

—IANS