India's auto sector sees $1.5 billion in deals in Q1 2025 despite IPO lull

Mergers and acquisitions (M&A) continued to gain momentum, recording nine deals worth $359 million-marking the third straight quarter of growth

India’s automotive and mobility sector kicked off 2025 on a strong note, racking up 29 deals worth $1.5 billion in the January–March quarter, according to the latest report by Grant Thornton Bharat. Despite a 63 per cent drop in overall deal value from the previous quarter—attributable to the absence of Hyundai Motor India’s $3.6 billion initial public offering (IPO)—the underlying investment momentum remained robust.

 

Excluding IPOs and Qualified Institutional Placements (QIPs), deal volumes rose 27 per cent from 22 in Q4 2024 to 28 in Q1 2025, while values surged 191 per cent from $509 million to $1.4 billion. The