Latest Mergers and Acquisitions in India 2023

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India has been witnessing an increase in mergers and acquisitions (M&A) activity in recent years, driven by various factors, including globalization, changing market dynamics, and increasing competition.

Here is a month-wise compilation of the mergers and acquisitions that took place in India in the year 2023. This comprehensive list provides an overview of the M&A landscape in India, including the companies involved, the deal sizes, and the sectors that were impacted. Keeping up with the latest M&A activity can provide valuable insights into industry trends and opportunities, and help businesses stay informed and competitive. Whether you’re a business owner, investor, or industry professional, this compilation is an essential resource for staying up-to-date on the latest developments in M&A in India.

Also Read, Loans and Grants Current Affairs 2023

What is Merger?

▪ A merger is a combination of two or more companies into a single entity.

▪ In a merger, two or more companies agree to combine their operations, assets, and liabilities to create a new, larger company.

▪ The merger is often described as a “merger of equals” because both companies typically have similar levels of influence over the newly created company.

▪ The new company has its own name, identity, and stock that is issued to the shareholders of the merging companies.

What is Acquisition?

▪ An acquisition is a process by which one company takes over another company, often by buying a controlling stake in the target company.

▪ In an acquisition, the acquiring company gains control of the target company’s assets, operations, and liabilities.

▪ The acquired company may continue to operate as a separate entity or be merged with the acquiring company. In an acquisition, the purchasing company typically has more influence over the newly combined company than the acquired company.

▪ In digest, a merger involves the combination of two or more companies to form a new entity, while an acquisition involves one company taking control of another company.

Latest Acquisitions in India 2023

▪ Here is a month-wise list of the latest Acquisitions in India 2023 in tabular format.

▪ How to read this table?

Acquiring Company:- The company (Acquiring Company) that acquired the steak of the second company (Acquired Company).

For Example Adani Group acquired a 27.26% stake in NDTV with a deal worth 600 crores.

Adani Group27.26%Stake held by NDTV600 crore

Latest Merger & Acquisition in India August 2023

Acquiring CompanyStake %Acquired CompanyAmount
Kopvoorn B.V., Moss Investments Limited90% of the shareholdingHDFC Credila Financial Services Limited (HDFC Credila)N/A
Paytm10.3% StakeAnt Financial (Antfin) NetherlandsUSD 628 Million
Ambuja Cements Ltd (ACL)56.74% stakeGujarat-based Sanghi Industries(SIL)Rs 5,000 Crore
Europe-based financial Services Group SocieteGeneraleN/ABandhan Bank Ltd.Rs 382 Cr
Life Insurance Corporation of India (LIC)6.66% ShareholdingJio Financial Services Ltd. (JFSL)N/A
Pelipper HoldCo SARL30%IBS Software Pte Limited

Latest Merger & Acquisition in India July 2023

Latest Merger List

IDFC Limited and IDFC First Bank Merger
IDFC Limited is set to merge with IDFC First Bank, with a fixed share exchange ratio of 155:100. The merger is targeted for completion by the end of 2023.

▪ Future Generali India Life and JM Financial Partnership
Future Generali India Life Insurance Company Limited (FGILI), a collaboration between the Generali Group and the Future Group, has joined forces with JM Financial Services Limited (JM Financial), a comprehensive financial services group. This strategic partnership aims to enhance insurance product offerings and expand market presence across India.

Latest Acquisition List

Acquiring CompanyStake %Acquired CompanyAmount
Concentrix Corporation (USA based publicly listed company)22% ShareholdingMarnix Lux (Parent company of Webhelp)N/A
Ipca Laboratories Limited59.38% of stakeUnichem Laboratories LimitedN/A
Mahindra & Mahindra Limited (M&M) (automotive manufacturing company of Mahindra group)3.5% stakeRBL Bank (formerly known as Ratnakar Bank) Rs 417 crore
GQG Partners LLC, a Florida (USA) based asset management firm5.96% stakePatanjali FoodsRs.2400 crore

Latest Merger & Acquisition in India June 2023

Acquiring CompanyStake %Acquired CompanyAmount
Sate Bank of India20%SBI Pension Funds held by SBI Capital Markets (SBICAPS)
Aditya Birla Fashion51%TCNS Clothing Co Limited
Shriram Finance8.34%Piramal Enterprise
HDFC Bank50%HDFC Life Insurence and HDFC ERGO General Insurence
HDFC Credila Financial Services90%HDFC Bank9060 crore
Max Life Insurance Company Limited (Max Life)2.99%Capital Small Finance Bank49.50 crore
Central Depository Services Ltd (CDSL)4.54%Bombay Stock Exchange468 crore
SBI Mutual Fund (SBIMF)10%ICICI Lombard General Insurence Company Limited
Kotak Mahindra Bank1.7%Canada Pension Plan Investment Board (CPPIB)6123.6 crore
Life Insurence Corporation of India (LIC)2.001%Steel Authoriy of India Limited (SAIL)8.26 Crore

Latest Merger & Acquisition in India May 2023

Acquiring CompanyStake %Acquired CompanyAmount
SBI Funds Management Ltd (SBIFML, a subsidiary of State Bank of India (SBI)9.99%HDFC Bank LtdN/A
Canada-based Brookfield Asset Management51%4 commercial properties Rostrum Realty Private Limited5000 cr.
BharatPe51%Mumbai (Maharashtra)- based Trillionloans Fintech Private Limited, a nonbanking financial company (NBFC)N/A
ICICI Bank4%ICICI Lombard General Insurance Company (ILGIC)N/A

Latest Merger & Acquisition in India April 2023

Acquiring CompanyStake %Acquired CompanyAmount
National Asset Reconstruction Company Limited (NARCL) and India Debt Resolution Company Limited (IDRCL)SREI Infrastructure Finance Limited
Life Insurance Corporation of India (LIC)5.008%Footwear Retail Company, Bata India LimitedRs 108 Cr
Monetary Authority of Singapore (MAS), the central bank and financial regulatory authority of Singapore20%Griha Pte. Limited (wholly-owned subsidiary of HDFC Investments Limited)
Berhyanda Limited Suven Pharmaceuticals Limited
Norwegian Government Pension Fund1.73%Bajaj Electricals
Jamnalal Sons Private Limited (JSPL)5.51%Mukand Sumi Special Steel Limited (MSSSL)

Latest Merger & Acquisition in India March 2023

Acquiring CompanyStake %Acquired CompanyAmount
NSPIRA Management Services Private Limited18.23%NHPEA Minerva Holdings BV
NSPIRA Management Services Private Limited2.24%Banyantree Growth Capital II, LLC
HL Terminal Holdings B.VJM Baxi Ports and Logistics Private Limitted
Platinum Jasmine (Abu Dhabi Investment Authority)Lenskart Solutions Pvt Ltd
Russian Joint Venture Commercial Bank LLC40%Canara Bank121 Cr
Reliance Retail Ventures (RRVL)100% (Acquisition)METRO Cash & Carry India
Epic Concesiones Private Limited (ECPL) & Kudgi Transmission Limmited (KTL)100% (Acquisition)L&T Infrasture Development Projects Limited (L&T, IDPL)
Axis BankCitibank’s Consumer Banking11603 Crore

Latest Merger & Acquisition in India February 2023

Acquiring CompanyStake %Acquired CompanyAmount
DSP Investment Manager9.99%DCB Bank
Governmentof India33%Vodafone16133 crore
IndusInd International Holdings Ltd. (IIHL)26%IndusInd Bank Ltd.Rs. 10,000 crore
Saudi Arabian Oil Company (Saudi Aramco)100%VGP Holdings LLC
SALIC International Investment Corporation (SIIC)LT Foods Limited
BCP Asia II Topco II Pte. Ltd100%R Systems International Limited
Softcell Technologies Global9.95%HDFC BankRs 9.94 crore
Liberty Global4.9%Vodafone Group Plc
Kotak Mahindra Bank Limited (KMBL)100% Sonata Finance Pvt Ltd (SFPL)Rs. 537 crore
National Investment and Infrastructure Fund(NIIF) a25%Hindustan Ports Private Limited (HPPL)

Latest merger & Acquisition in India January 2023

Acquiring CompanyStake %Acquired CompanyAmount
Adani Group27.26%Stake held by NDTV600 crore
SBI Mutual Funds9.99%Equitas Small Finance Bank (SFB)
Paytm3.1%Alibaba USD 125 million
Axis Bank Limited7%Max Financial Services Limited….
India Grid Trust (IndiGrid)100%Khargone Transmission LimitedRs 1,497.5 crore
State Bank of India (SBI)40%Canara Bank’s stake in Russian joint venture Commercial Indo Bank LLC (CIBL)Rs 114 crore

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