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India Inc's mergers and acquisitions saw a significant upturn in January with the total deal size touching a $2.5 billion, jumping a massive 42 per cent over the same period last year.
According to global consultancy firm Grant Thornton, corporate India announced as many as 56 M&As worth $2.5 billion in January and the growth was significant both in terms of number of deals as well as in their size.
Releasing the report. Grant Thornton specialist advisory services partner CG Srividya said, "the number of M&As in January has tripled compared to last January and value has also shown an increase."
She added that, "there are several indications that the momentum will continue and we expect to see many more deals compared to last year."
India Inc looked within for mergers and acquisitions as domestic deals cornered the lion's share of the total M&A pie.
The total value of domestic deals in January was $2,167 million through 32 deals compared to $1,324 million via eight deals during the year-ago period.
"A considerable proportion of the value is coming from domestic deals, while there is also a clear sign of increase in overseas deals compared to last year," Srividya added.