Mumbai, April 15
The value mergers and acquisitions (M&As) as well as private equity (PE) deals in India’s domestic consumer and retail markets rose to a three-year high of close to $4 billion in the January-March quarter this year, according to consultancy firm Grant Thornton Bharat’s quarterly deal tracker report.
On the top of the deal list was Singapore-based PE player Temasek’s $1-billion investment in Haldiram Snack Foods for a 10 per cent stake in the Indian snack company and Wilmar International’s $1.4-billion investment that increased its shareholding from 44 per cent to nearly 75 per cent in Adani Wilmar (now called AWL Agri Business after Adani Group’s exit). The mega deals reflect growing investor confidence in India’s food processing sector, the report states.
The January- March quarter saw a steep rise compared to the same period in 2023 and 2024, touching nearly $4 billion in value, while the number of deals rose to 139. This is three times the value of deals struck in the first quarter of 2023 ($1.28 billion) and twice the value of deals struck in the first quarter of 2024 ($1.74 billion). The number of deals in the first quarter of the last two calendar years stood at 78 and 102, respectively.