Top Mergers and Acquisitions in India
India witnessed a significant surge in mergers and acquisitions (M&A) activity in 2024, with total deal value reaching approximately $109 billion, a notable increase from $79 billion in 2023. This growth was driven by strategic consolidations, sectoral expansions, and increased investor confidence. Here are some of the most impactful M&A deals in India during that year
🔝 Major M&A Deals in India (2024)
1. Reliance Industries & Future Group
Deal Value: ~$3.4 billion
Details: Reliance Industries acquired Future Group’s retail, wholesale, logistics, and warehousing businesses, significantly enhancing Reliance Retail’s footprint across India.
2. Tesla & Tata Motors
Deal Value: $2 billion
Details: Tesla acquired a 20% stake in Tata Motors’ electric vehicle division, aiming to bolster EV capabilities and accelerate adoption in India.
3. Tata Group & Air India
Deal Value: $2.4 billion
Details: Tata Group acquired Air India and merged it with Vistara, creating a consolidated airline entity.
4. Adani Group & Penna Cement
Deal Value: ₹10,422 crore (~$1.25 billion)
Details: Adani Group entered the cement industry by acquiring Penna Cement Industries, strengthening its presence in the building materials sector.
5. Dr. Reddy’s Laboratories & Haleon
Deal Value: $620 million
Details: Dr. Reddy’s acquired Haleon’s global nicotine replacement therapy portfolio outside the U.S., expanding its consumer healthcare offerings.
6. Kotak Mahindra Bank & Sonata Finance
Deal Value: ₹537 crore (~$65 million)
Details: Kotak Mahindra Bank acquired Sonata Finance, a microfinance company, to enhance its financial inclusion initiatives.
7. Zomato & Blinkit
Deal Value: ₹4,447 crore (~$540 million)
Details: Zomato merged with Blinkit (formerly Grofers) to strengthen its position in the quick commerce sector.
8. Mirae Asset & Sharekhan
Deal Value: ₹3,000 crore (~$360 million)
Details: Mirae Asset acquired Sharekhan, rebranding it as Mirae Asset Sharekhan, to expand its financial services footprint in India.
📊 M&A Activity Snapshot
Total Deal Value (2024): ~$109 billion
Domestic Contributions: Indian corporates accounted for approximately $48 billion, nearly doubling from $26 billion in 2023.
Key Sectors: Retail, telecommunications, aviation, cement, healthcare, financial services, and quick commerce.
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