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Business News/ Companies / News/  M&A deals in India drop 10% to 793 in 2023: PwC report
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M&A deals in India drop 10% to 793 in 2023: PwC report

The top 10 deals of 2023 included JV buyouts, strategic investments, PE buyouts, and stick market mergers, contributing 21% of the total deal value.

In Calendar Year (CY) 23, the M&A deals totalled 793, a drop of 10% compared to CY22Premium
In Calendar Year (CY) 23, the M&A deals totalled 793, a drop of 10% compared to CY22

India witnessed a significant drop in merger and acquisition (M&A) deals in the calendar year 2023 as per the PwC India report. Cumulatively, 1,860 deals with a total disclosed value of $75 billion were completed in CY23, according to the 'Deal at a Glance' report by PwC.

In CY23, the M&A deals totalled 793, a drop of 10% compared to CY22. Additionally, the total disclosed deal value for M&A fell by 38%. The drop in domestic deals was 18% to 494 last year in contrast to 601 deals in 2022. The total deal volume in the country dropped by 23% while the total disclosed value dropped by 38% since 2022. However, an uptick of 14% was seen in the volume of inbound deals. The report noted stability in deal activity in the country towards the last quarter of 2023.

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"In 2023, India resiliently navigated global headwinds, solidifying its appeal to international investors. The economic fundamentals stay strong reflecting investors' enthusiasm for the country's expanding economic opportunities. Despite a restrained deal-making environment throughout the year, deal activity stabilised towards the last quarter leading us to anticipate an upswing in 2024," Dionesh Arora, Partner & Leader-Deals PwC India.

The Private Equity (PE) investment dropped 36% to $36 billion last year. Despite the decline, the average investment size per deal expanded increased to $46 million in 2023 as against $42 million in 2022. However, in CY23 early-stage investments were 53% less than CY22. On the other hand, buyouts demonstrated resilience with only 5% decline compared to CY22.

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The top 10 deals of 2023 included JV buyouts, strategic investments, PE buyouts, and stick market mergers, contributing 21% of the total deal value. According to a PwC survey, 60% of the surveyed CEOs plan to make at least one acquisition in the next three years, and 70% anticipated leveraging M&A for the accelerated adoption of technology and related processes.

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ABOUT THE AUTHOR
Mansi Jaswal
I write about gender-related issues, women's rights, women empowerment, gender equality, women's health topics, and their wealth management. Also, profiling women who have fought all odds to make their own identities in their own rights. Before Mint, I worked at Business Today and Business Standard. I studied journalism at IIMC, Delhi. Got a story idea? Email me at mansi.jaswal@htdigital.in
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Published: 26 Feb 2024, 12:25 PM IST
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