According to assurance, tax, and advisory firm Grant Thornton, during January-May 2017, there were 170 mergers and acquisition deals worth $35.45 billion in India, registering a significant jump over last year deals worth $13.37 billion.
“All eyes seem to be now on the Goods and Services Tax implementation and its impact on not only trade and economy, but more importantly on investor interest,” Grant Thornton India partner Prashant Mehra said. He added that since there is a clear visibility on this, one should see good traction in both M&A and PE.
In May, the e-commerce sector led the deal activity by contributing over 53 percent of the total transaction value. The month also witnessed deals worth over $100 million in the banking and financial services, hospitality and leisure, and real estate sectors, Grant Thornton’s report added.
“Increasing consolidation is driving deal volumes in the start-up sector, capturing 25 percent of volumes with highest activity witnessed in the on-demand services space,” quotes BusinessLine from the report.
