At $3 billion, retail sector deal value jumps 4x over last quarter: Report

NEW DELHI: India’s consumer and retail sector witnessed a decisive rebound in the Sept quarter, with deal volumes rising to 132 and values crossing $3.4 billion, nearly four times higher than previous quarter.The recovery was led by renewed investor focus on textiles, apparel and accessories, and sustained activity in food processing and e-commerce, Grant Thornton Bharat’s Q3 2025 Consumer and Retail Dealtracker report showed.A total of 97 PE/VC deals worth $1.3 billion were registered during the third quarter, more than doubling in value QoQ. Investors focused on festive-led categories — apparel, e-commerce, and consumer electronics — with notable rounds for VIP Industries, Zepto, Jumbotail, and Miko, it said.The quarter also witnessed a revival of outbound M&A, with Indian consumer players pursuing cross-border acquisitions to expand product portfolios and strengthen global footprints. There were 24 M&A deals worth $955 million, led by domestic consolidation in food processing and apparel. Big-ticket transactions such as Tilaknagar’s acquisition of Pernod Ricard’s Imperial Blue and Titan’s purchase of Damas Jewellery anchored the rebound, while outbound activity revived with five cross-border acquisitions.

With policy tailwinds and festive demand, investor confidence remains strong across consumption-linked sectors. Six IPOs and five QIPs raised over $1.1 billion, led by Urban Company, Bluestone Jewellery, Tilaknagar, and Lenskart, reflecting renewed investor appetite for consumer names. Naveen Malpani, consumer industry leader Grant Thornton Bharat, said: “The festive quarter reaffirmed e-commerce’s role as a structural engine of consumption.

Online festival sales have already crossed Rs 60,700 crore in the opening week, up about 29 % YoY, with more than half of the Rs 1.2 lakh crore projected festive GMV logged early.”