India M&As halve to $7.7 bn in first quarter

NEW DELHI: With high inflation and weak stock market playing spoilsport, total value of M&A deals involving Indian firms more than halved to $7.7 billion in the June quarter, says Ernst & Young.

The last three months witnessed 212 M&A deals with a disclosed deal value of $7.7 billion. “This deal value is 55.3% lower than the previous quarter's value of $17.3 billion,” E&Y said.

The number of deals also dropped over 6% compared to 226 recorded in the January quarter.

Inflation has stayed high this year, defying the government's earlier expectations of a slow down to 6.5% by March.