India's M&A activity in 2025 saw a significant rise, with listed companies accounting for nearly a third of all acquisitions. Eight of the fourteen largest deals, totaling $39.5 billion, involved public entities, highlighting their increasing dominance. Experts attribute this trend to the transparency, liquidity, and valuation clarity offered by listed firms, making them attractive to investors seeking cleaner governance and easier funding access. The financial services, healthcare, and industrial sectors were particularly active.