NEW DELHI: India Inc saw 142 deals worth $6.1 billion in the month of January, marking a 15 percent increase in volumes and a 21 percent increase in values compared to December 2023, a new report showed on Thursday. The uptick in the deal activity was witnessed in private equity (PE) and the presence of 2 billion-dollar investments worth $3.6 billion.

“While technology sectors, spearheaded by startups and e-commerce, continue to drive PE momentum, the emergence of Krutrim SI Designs (co-founded by Ola’s Bhavish Aggarwal) as India's first unicorn sets an early milestone,” said Shanthi Vijetha, Partner, Growth at Grant Thornton Bharat.

“The prevailing positive sentiment suggests a buoyant outlook for deal-making in 2024, signaling optimism and strategic evolution in the investment landscape,” Vijetha added.

The Indian mergers and acquisitions (M&A) space recorded 41 M&A deals at $1.4 billion, reflecting an 8 percent increase in deal volume but a significant 64 percent decline in values compared to December 2023.

The PE space witnessed 101 deals at $4.7 billion, indicating a 17 percent increase in volumes and a 298 percent rise in values compared to 2023, the report said.

Start-ups dominated deal volumes, reaching a high of 69 deals worth $253 million, driven by segments such as retail, fintech, enterprise applications, and health tech, the report noted.