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 Group | 27.26% | Stake held by NDTV | 600 crore |
Latest Merger & Acquisition in India August 2023
| Acquiring Company | Stake % | Acquired Company | Amount |
|---|---|---|---|
| Kopvoorn B.V., Moss Investments Limited | 90% of the shareholding | HDFC Credila Financial Services Limited (HDFC Credila) | N/A |
| Paytm | 10.3% Stake | Ant Financial (Antfin) Netherlands | USD 628 Million |
| Ambuja Cements Ltd (ACL) | 56.74% stake | Gujarat-based Sanghi Industries(SIL) | Rs 5,000 Crore |
| Europe-based financial Services Group SocieteGenerale | N/A | Bandhan Bank Ltd. | Rs 382 Cr |
| Life Insurance Corporation of India (LIC) | 6.66% Shareholding | Jio Financial Services Ltd. (JFSL) | N/A |
| Pelipper HoldCo SARL | 30% | 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 Company | Stake % | Acquired Company | Amount |
|---|---|---|---|
| Concentrix Corporation (USA based publicly listed company) | 22% Shareholding | Marnix Lux (Parent company of Webhelp) | N/A |
| Ipca Laboratories Limited | 59.38% of stake | Unichem Laboratories Limited | N/A |
| Mahindra & Mahindra Limited (M&M) (automotive manufacturing company of Mahindra group) | 3.5% stake | RBL Bank (formerly known as Ratnakar Bank) | Rs 417 crore |
| GQG Partners LLC, a Florida (USA) based asset management firm | 5.96% stake | Patanjali Foods | Rs.2400 crore |
Latest Merger & Acquisition in India June 2023
| Acquiring Company | Stake % | Acquired Company | Amount |
|---|---|---|---|
| Sate Bank of India | 20% | SBI Pension Funds held by SBI Capital Markets (SBICAPS) | — |
| Aditya Birla Fashion | 51% | TCNS Clothing Co Limited | — |
| Shriram Finance | 8.34% | Piramal Enterprise | — |
| HDFC Bank | 50% | HDFC Life Insurence and HDFC ERGO General Insurence | — |
| HDFC Credila Financial Services | 90% | HDFC Bank | 9060 crore |
| Max Life Insurance Company Limited (Max Life) | 2.99% | Capital Small Finance Bank | 49.50 crore |
| Central Depository Services Ltd (CDSL) | 4.54% | Bombay Stock Exchange | 468 crore |
| SBI Mutual Fund (SBIMF) | 10% | ICICI Lombard General Insurence Company Limited | — |
| Kotak Mahindra Bank | 1.7% | 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 Company | Stake % | Acquired Company | Amount |
|---|---|---|---|
| SBI Funds Management Ltd (SBIFML, a subsidiary of State Bank of India (SBI) | 9.99% | HDFC Bank Ltd | N/A |
| Canada-based Brookfield Asset Management | 51% | 4 commercial properties Rostrum Realty Private Limited | 5000 cr. |
| BharatPe | 51% | Mumbai (Maharashtra)- based Trillionloans Fintech Private Limited, a nonbanking financial company (NBFC) | N/A |
| ICICI Bank | 4% | ICICI Lombard General Insurance Company (ILGIC) | N/A |
Latest Merger & Acquisition in India April 2023
| Acquiring Company | Stake % | Acquired Company | Amount |
|---|---|---|---|
| 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 Limited | Rs 108 Cr |
| Monetary Authority of Singapore (MAS), the central bank and financial regulatory authority of Singapore | 20% | Griha Pte. Limited (wholly-owned subsidiary of HDFC Investments Limited) | — |
| Berhyanda Limited | — | Suven Pharmaceuticals Limited | — |
| Norwegian Government Pension Fund | 1.73% | Bajaj Electricals | — |
| Jamnalal Sons Private Limited (JSPL) | 5.51% | Mukand Sumi Special Steel Limited (MSSSL) | — |
Latest Merger & Acquisition in India March 2023
| Acquiring Company | Stake % | Acquired Company | Amount |
|---|---|---|---|
| NSPIRA Management Services Private Limited | 18.23% | NHPEA Minerva Holdings BV | — |
| NSPIRA Management Services Private Limited | 2.24% | Banyantree Growth Capital II, LLC | — |
| HL Terminal Holdings B.V | — | JM Baxi Ports and Logistics Private Limitted | |
| Platinum Jasmine (Abu Dhabi Investment Authority) | — | Lenskart Solutions Pvt Ltd | — |
| Russian Joint Venture Commercial Bank LLC | 40% | Canara Bank | 121 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 Bank | — | Citibank’s Consumer Banking | 11603 Crore |
Latest Merger & Acquisition in India February 2023
| Acquiring Company | Stake % | Acquired Company | Amount |
|---|---|---|---|
| DSP Investment Manager | 9.99% | DCB Bank | — |
| Governmentof India | 33% | Vodafone | 16133 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. Ltd | 100% | R Systems International Limited | — |
| Softcell Technologies Global | 9.95% | HDFC Bank | Rs 9.94 crore |
| Liberty Global | 4.9% | Vodafone Group Plc | — |
| Kotak Mahindra Bank Limited (KMBL) | 100% | Sonata Finance Pvt Ltd (SFPL) | Rs. 537 crore |
| National Investment and Infrastructure Fund(NIIF) a | 25% | Hindustan Ports Private Limited (HPPL) | — |
Latest merger & Acquisition in India January 2023
| Acquiring Company | Stake % | Acquired Company | Amount |
|---|---|---|---|
| Adani Group | 27.26% | Stake held by NDTV | 600 crore |
| SBI Mutual Funds | 9.99% | Equitas Small Finance Bank (SFB) | |
| Paytm | 3.1% | Alibaba | USD 125 million |
| Axis Bank Limited | 7% | Max Financial Services Limited | …. |
| India Grid Trust (IndiGrid) | 100% | Khargone Transmission Limited | Rs 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 |
