The advent of the Goods and Service Tax (GST) last month has taken its toll on the merger and acquisition (M&A) activity across the country in July, which declined by 90% year-on-year (YoY) in value terms during the month, according to a report by Grant Thornton.
The total M&A’s in July 2017 were valued at $393 million, down 90%, when compared with $4.088 billion in the corresponding period last year. In volume terms as well, the number of deals declined 24% from 45 in July 2016 to 34 deals in July 2017.
However, the average ticket size of the private equity (PE) deals across the country has increased manifold. Despite 33% decline in the PE deal volume, the value of PE deals has gone up by 48% from $826 million to $1.223 billion.
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