Led by HDFC twins, India sees record US$ 124 billion M&A deals in the first half of FY23
- IBEF
- October 3, 2022
In the first half of FY23, M&A (merger and acquisition) transactions in India reached a record high of US$ 124.2 billion, driven by the US$ 57.8 billion merger of the HDFC twins (HDFC Ltd and HDFC Bank). Bankers predicted that the current fiscal year will end up being the best one for M&A activity in the nation because of a number of transactions, including the government's planned stake sales in IDBI Bank and Hindustan Zinc.
Along with the HDFC transaction, the Adani family's US$ 6.5 billion purchase of a share in Holcim and L&T's US$ 3.2 billion purchase of Mindtree contributed to the record-breaking transactions in the first half of FY23. Indian businesses reported M&A deals totalling US$ 73.73 billion a year ago.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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