Why CFOs are prioritising skills and technology over headcount
Chapter 5Finance leaders want to focus on strategy, but day-to-day demands still take up much of their time.
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Technology dealmaking in India is shifting toward platforms built on infrastructure strength and enterprise relevance. Investors and acquirers are aligning with themes that reflect long-term value, including AI, SaaS, and automation. The Q3 2025 edition of the Technology Dealtracker outlines this directional change, highlighting strategic movements across private equity and M&A, especially in mid-market and outbound segments. It presents how Indian tech firms are building competitive capabilities in areas like AI tooling and compliance, while traditional service providers are adapting through acquisitions to meet automation-first delivery models. With capital flowing into infrastructure-led innovation, the publication captures the signals shaping the next phase of enterprise technology.
Overall deal activity witnessed strong increase in Q3 2025, with 80 deals recorded, up 33% from Q2. While disclosed values were limited, the quarter reflected strategic intent and cautious optimism amid macroeconomic recalibration. The momentum in SaaS, AI, and cross-border tech signals a market preparing for its next growth wave.
M&A remained active recording 29 deals, especially in domestic and outbound segments. M&A values were led by outbound consolidations (marking 4-year high quarterly volumes), with three high value transactions (> USD 100 million) contributing 87% of the values, while domestic deals (highest since Q1 2022) dominated in volumes with a 62% share.
PE activity witnessed a sharp 39% increase in volumes with 50 deals and a 2.7x surge in values at USD 584 million, with the average deal size doubling compared to the previous quarter. The PE space was dominated by early-stage fundings (pre-seed to series A), which accounted for 97% of the deals disclosed.
IPO activity was led by one listing—Aditya Infotech —raising USD 151 million across BSE and NSE. While the volume was flat, the deal size was significant, indicating selective but high-value public market interest. No QIP transactions were recorded, witnessing a subdued trend for the first time in the year. This suggests listed tech companies are still holding off on public fundraising amid valuation recalibrations.

Finance leaders want to focus on strategy, but day-to-day demands still take up much of their time.
India is at a crucial stage in its agricultural development. Since around one-third of the country's land is suffering from degradation, along with increasing climate risks, water stress and the loss of biodiversity, there is now a greater need than ever for a more resilient agricultural system.
Every economy depends on care. It allows parents to go to work, supports older people and persons with disabilities, and helps families manage periods of illness or dependency. It takes place in homes, hospitals, childcare centres and communities.