Led by HDFC twins, India sees record $124-billion M&A deals in H1FY23

Bankers said the second half of the ongoing financial year will be led by government divestments

Deals, mergers,

Analysts said these MNCs failed to build a meaningful presence in the Indian market given the strong local competition and/or their individual growth and investment strategies

Dev Chatterjee Mumbai
Fuelled by the $57.8-billion merger of HDFC twins (HDFC Ltd and HDFC Bank), M&A (merger and acquisition) transactions in India touched a record high of $124.2 billion in the first half of 2022-23. Bankers said with several transactions, including the government's stake sale in IDBI Bank and Hindustan Zinc in the pipeline, the ongoing financial year will end up as the best year for M&A activity in the country.

Apart from the HDFC transaction, the $6.5-billion acquisition of Holcim stake by the Adani family and L&T’s $3.2-billion acquisition of Mindtree added to the record transactions in the first half of

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First Published: Sep 30 2022 | 7:20 PM IST

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