India’s Q3 dealmaking hits $36.9 billion across 696 deals; IPOs raise record $9 billion

Institutional deal activity in India broadened in the third quarter of 2026, with 696 transactions worth $36.9 billion across M&A, private equity and public markets, according to a Grant Thornton Bharat report.
M&A and private equity accounted for 608 deals worth $23.1 billion, with volumes up 8% quarter-on-quarter, while 60 IPOs raised a record $9 billion. Inbound investment hit an eight-year quarterly volume high.
The data points to deepening investor appetite for Indian assets even as public markets whipsawed through the quarter on crude, currency and rate worries.
Bankers say the pipeline for the December quarter looks healthy, with several large listings already in the works.


