Top M&As That Significantly Change the Business Landscape in India

By Samrat Pradhan, Editor, Consultants Review

The Indian corporate scene saw a drastic transformation in 2023, fueled by a record-breaking M&A binge. According to Deloitte's statistics, the year saw a whopping 72 percent increase in deal volume compared to 2022. According to Bain & Company, the overall value approached a whopping USD 150 billion. Many factors contributed to this expansion. This increase was attributed by EY to factors such as increased investor confidence, strong corporate cash reserves, and the government's pro-consolidation policies.

These massive mergers transformed sectors, from aviation's historic Tata-Air India reunion to the formation of the cinema powerhouse PVR-INOX. Notably, Deloitte reports a 45 percent increase in M&As in the consumer industry, owing to Reliance Retail's strategic purchases such as Ed-a-Mamma. With the acquisition of Pocket Aces by Saregama, Bain & Company highlights the growing importance of digital content play.

Here is the list of the most noteworthy M&A in 2023: 

1. Adani Enterprises' subsidiary AMG Media Networks acquired a majority stake in IANS 

2. Reliance Retail Ventures acquired majority ownership in Ed-a-Mamma 

3. Acquisition of Sobek Auto India by CarTrade Tech

4. Saregama bought out the bulk of Pocket Aces Pictures

5. Sonata Finance was purchased by Kotak Mahindra

6. Softcell Technologies was sold by HDFC Bank

7. Liberty Global purchased interests in Vodafone

8. Purchase of a share in Hindustan Ports by the National Investment and Infrastructure Fund

9. Inox Leisure and PVR INOX Pictures is the result of a merger

10. Adani Group purchased Ambuja Cements and ACC

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