India M&A and PE deal value halves to $10.2B in May after April's $21.8B spike

Grant Thornton Bharat tracked 190 deals worth $10.2B in May, down from 212 deals at $21.8B in April. Retail and consumer led volumes alongside BFSI. PE stayed resilient with fewer but larger bets, including Rapido's $240M round and Skyroot's $60M raise.

— Source publishedMon, 8 Jun, 2026, 17:41 IST·First seen Mon, 8 Jun, 2026, 18:18 IST·Source Financial Express · BrandWagon

What happened

Grant Thornton Bharat · India M&A and PE deals fell to $10.2 billion across 190 transactions in May from April's $21.8 billion. Retail and consumer led deal

Key facts

  • $10.2 billion
  • 190 deals
  • 212 deals
  • $21.8 billion
  • 76 M&A deals
  • $6.3 billion
  • 114 PE deals
  • $3.9 billion
  • $240 million Rapido
  • $60 million Skyroot

Why this matters

The 53% MoM value drop opens a buyer-friendly window for retail-consumer M&A targeting, with valuations likely softening even as deal count stays healthy at 190.