Mergers & Acquisitions

Bankers say that given the substantial exposures banks will have to take for M&A financing, the current ceiling for banks' exposure to the sensitive sectors is likely to be a hurdle

Indian pharmaceutical and healthcare sector recorded a total of 72 transactions valued at USD 3.5 billion in the third quarter ended September this year, according to Grant Thornton Bharat's dealtracker. This included three IPOs worth USD 428 million and one QIP worth USD 88 million, Grant Thornton Bharat said in a statement. Excluding public market activity, private deals accounted for USD 3 billion across 68 transactions, marking a sharp rebound in investor appetite, it added. The surge was driven by seven high value deals worth USD 2.6 billion, reflecting renewed investor confidence in scale and consolidation plays across pharma, biotech, and hospital segments, and mirroring the sector's strong fundamentals and growth potential. The standout transaction of the quarter was Torrent Pharma's USD 1.4 billion acquisition of a 46 per cent stake in JB Chemicals & Pharmaceuticals, strengthening its position in high-growth therapeutic segments and chronic care markets, it added. "Q3 ...

In order to build a thesis around which M&A deals to consider as a potential special situations investment, a look at the twenty largest deals by Indian companies in the past decade is instructive

In May, Japan's Sumitomo Mitsui Banking Corporation (SMBC) agreed to acquire a 20 per cent stake in Yes Bank for $1.6 billion

IPO-bound e-b2b platform udaan on Friday announced the acquisition of retail-tech startup ShopKirana in an all-stock deal, marking a strategic consolidation in the domestic eB2B space. The acquisition will complement the platform's leadership across core categories, including staples, FMCG and hotel, restaurant, and catering (HoReCa), udaan said. Founded in 2015, ShopKirana enables kirana stores through digital procurement, transparent pricing, and efficient last-mile delivery. With a strong footprint in tier-2 and tier-3 cities such as Indore, Bhopal, Lucknow, Agra, Surat, and Meerut, ShopKirana complements udaan's national market presence, further strengthening the unified entity as the platform of choice for kiranas and brands across Bharat, it said. The acquisition also reinforces udaan's strategy of driving profitable growth through deeper market penetration, operational efficiency, and broader geographic reach, the company stated. By integrating ShopKirana's deep retailer ..

7-Eleven convenience stores have one of Japan's most recognizable brands and a takeover would have been the largest by a foreign entity in the country's history

Marwadi Chandarana Intermediaries Brokers has entered into an agreement to acquire 75 per cent stake in non-banking financial company TruCap Finance with an investment of Rs 207 crore. This investment includes a mix of capital infusion through preferential allotment of equity shares and convertible warrants, and a secondary purchase of 3.68 crore shares from the existing promoter group of TruCap, the NBFC said in a stock exchange filing. This transaction will trigger an open offer under the Sebi's rules. Following the investment, MCG will be classified as the new promoter, and the existing promoter group's stake will be reduced to zero. In its filing on Monday, the NBFC said, "Marwadi Chandarana Intermediaries Brokers Pvt Ltd, an entity of Marwadi Chandarana Group (MCG) has entered into definitive documents to acquire a majority stake (approximately 75 per cent) in TruCap Finance Ltd, a non-banking financial company". With a combined net worth of approximately Rs 2,500 crore, MCG

Ceigall India on Monday said its board has approved the merger of wholly-owned subsidiary Ceigall Infra Projects with publicly listed C&C Construction to enhance business efficiency. Ceigall India, an infrastructure construction firm, in a statement said post the merger, Ceigall India will hold up to 95 per cent of the merged entity, with plans to reduce its stake to 75 per cent in line with Sebi regulations. The proposed merger, subject to approval by the National Company Law Tribunal (NCLT), aims to revive C&C Construction, which was earlier under liquidation. The merger also aims to integrate C&C Construction's capabilities in transmission, distribution, railways, bridges, and building construction into Ceigall's broader infrastructure portfolio, it added. The merger will result in administrative and operational rationalization, enhance business efficiency, flexibility, and agility, positioning the transferee company for sustainable growth," Ceigall India said in a BSE

LATL will acquire full control of IAC India by 31 May for Rs 221 crore, strengthening its position in EV interiors and aiming for post-merger synergies and growth

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Experts expect big-ticket M&A transactions in FY26 despite global headwinds

India witnessed a record-breaking surge in deal activity in February, with 226 M&A and private equity deals totaling USD 7.2 billion -- the highest monthly deal volume in the last three years, according to the Dealtracker report of Grant Thornton Bharat. "This represents a 67 per cent increase in volumes and a 5.4-fold increase in values compared to February 2024, while a 14 per cent increase over the previous month," it said. As many as 85 merger and acquisition (M&A) deals worth USD 4.8 billion were announced in February. Domestic deals constituted 68 per cent of M&A volumes and 78 per cent of total values. Outbound deals surged, while inbound deal values declined sharply. "Despite global economic uncertainties, including declining foreign investments in Indian public markets and looming trade tariffs, Indian dealscape demonstrated resilience, driven by robust domestic demand," it added. Zen Technologies and Nitco Ltd were key acquirers, each acquiring four companies, ...

Industry leaders feel that bear markets present great opportunities for buyers who look beyond short-term uncertainties

The government will rationalise the requirements and procedures for speedy approval for merger of companies and the scope for fast track mergers will be widened as part of efforts to further improve the ease of doing business. The proposal is part of the Union Budget for 2025-26 presented in the Parliament on Saturday. "Requirements and procedures for speedy approval of company mergers will be rationalised. The scope for fast-track mergers will also be widened and the process made simpler," Finance Minister Nirmala Sitharaman said in her Budget speech. Among other steps, the minister said the government will now bring up the Jan Vishwas Bill 2.0 to decriminalise more than 100 provisions in various laws. In the Jan Vishwas Act 2023, more than 180 legal provisions were decriminalised. Also, the revamped Central KYC Registry will be rolled out in 2025. "We will also implement a streamlined system for periodic updating," Sitharaman said. The Institute of Company Secretaries of India

Billionaire Mukesh Ambani's Reliance Industries has acquired technology-driven and oncology-focused healthcare platform Karkinos for Rs 375 crore, the firm said on Saturday. Reliance Strategic Business Ventures (RSBVL), a wholly-owned subsidiary of Mumbai-listed India's most valuable company, completed the acquisition of Karkinos Healthcare Pvt Ltd with allotment of requisite shares, the firm said in a stock exchange filing. Karkinos was incorporated in India on July 24, 2020, and is in the business of providing technology-driven innovative solutions for the early detection, diagnosis, and management of cancer. It had a turnover of about Rs 22 crore in the 2022-23 fiscal. "Reliance Strategic Business Ventures Ltd has on December 27, 2024, subscribed to and has been allotted 1 crore equity shares of Rs 10 each, for cash, aggregating Rs 10 crore and 36.5 crore optionally fully convertible debentures of Rs 10 each, for cash, aggregating Rs 365 crore of Karkinos," according to the ...

The deal is expected to value Gurugram-based HR tech firm PeopleStrong at approximately Rs 1,500 crore

Bankers anticipate deal-making to remain robust in 2025 with several marquee deals in the making

M&A activity in India has largely been unaffected by geopolitical uncertainty

Digital mergers and acquisitions with at least 10 per cent of the global user base, gross merchandise value (GMV), or revenue in India now require approval from the Competition Commission of India

Verizon has offered $38.50 per share, representing a premium of 37.3% to the closing stock price of Frontier on Sept. 3, a day before reports of a potential acquisition first emerged