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Recent Mergers and Acquisitions in India

Recent Mergers and Acquisitions in India explores all the details related to the evolution of Indian industries through strategic consolidations across different sectors. These M&As have strengthened market position, expanded operational capabilities, and boosted economic growth.

authorImageSubham Sahoo18 Dec, 2025

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Recent Mergers and Acquisitions in India

Recent Mergers and Acquisitions in India: Why do companies join together or buy other companies? Why do these big moves matter to a country’s economy? These questions help in understanding the idea behind Recent Mergers and Acquisitions in India.

Some mergers and acquisitions can change the fortunes of a company, whereas others can change the whole industry. Here, we explore these changes and see how they shape the business world around us.

Recent Mergers and Acquisitions in India Overview

Mergers and acquisitions are important business activities. A merger happens when two companies join to form one company, whereas an acquisition happens when one company buys another. 

  • Both help companies grow and help them enter new markets. They help them cut costs and acquire new skills or new technology.

  • Recent Mergers and Acquisitions in India show how fast Indian companies are growing. They show how companies want to be stronger and more competitive. 

  • When companies join together, they may face challenges too. They need government approval and need to plan how to combine their teams. Yet, several companies see mergers and acquisitions as a good way to grow fast.

 

 

Mergers and Acquisitions in India

India’s business world has changed a lot in recent years. More and more companies from India and outside India are looking to invest in the country. The economy is growing and technology is improving. The rise of Recent Mergers and Acquisitions in India is happening for several reasons. Some of them are as follows:

  • Market Expansion: Companies want to serve more people in more places.

  • Technology Needs: Many companies want advanced technology, so they buy or join with tech firms.

  • Cost Saving: When two companies work together, they can share resources and save money.

  • Government Support: Policies like Make in India, easier foreign investment rules, and tax changes support business growth.

  • Distressed Assets: Through the Insolvency and Bankruptcy Code (IBC), strong companies can buy failing companies and rebuild them.

Different sectors are seeing different levels of activity. That trend of mergers and acquisitions is rising in the number. The sectors include the following:

  • IT and Technology Sector: The IT Sector witnesses a high number of mergers and acquisitions. Companies want new digital tools, including artificial intelligence, machine learning, cloud systems, and cybersecurity. To acquire them quickly, they buy companies that already have them.

  • Pharmaceutical and Healthcare Sector: The Healthcare sector is growing fast in India. Several firms want new medicines, new research, or new medical technology. Therefore, they buy smaller or special pharmaceutical companies. This helps them grow faster and provide better services.

  • Banking and Finance Sector: Banks always look for more customers and stronger banking systems. They want more products. When banks merge or when one bank buys another, they become stronger, which also helps customers avail better services.

  • Retail and Consumer Sector: The Retail market is growing quickly in India. A lot of people now shop online and offline. Companies want wider networks, a large audience base and faster delivery systems. So they buy or join with other retail companies.

Major Mergers and Acquisitions in Recent Years

Several important deals have taken place in India recently. These deals have changed industries and shaped the future of Indian business. Below are some of the biggest and high-profile deals from the list of Recent Mergers and Acquisitions in India:

HDFC Ltd. and HDFC Bank Merger (2023)

This is one of the largest mergers in India’s financial history. HDFC Bank and HDFC Ltd., two huge financial companies, joined to form one strong company. The merger helped them expand their customer base. It helped them offer more financial products. It also helped them become more efficient. The merger changed the banking landscape in India and became a key event among Recent Mergers and Acquisitions in India.

PVR and INOX Merger (2023)

PVR and INOX were two of India’s biggest cinema chains. When they merged, they became one of the largest entertainment companies in the country—PVR INOX Ltd. This helped them fight competition from online streaming platforms. It helped them run more theatres with better management. This merger was one of the most significant moves in the entertainment industry.

Reliance’s Acquisition of Future Group Businesses (2024)

Reliance Retail bought large parts of the Future Group. This included supermarkets, wholesale businesses, and supply systems. It helped Reliance grow fast in retail. It gave them more stores and more customers. This deal shows how aggressive and active the retail sector is. It also stands out clearly among Recent Mergers and Acquisitions in India.

Tata Group’s Acquisition of Air India (2022)

One of the most historic deals was when the Tata Group acquired Air India. This return marked a big moment as the Tata Group originally founded Air India many decades ago. Under Tata, the airline began improving services, updating systems, and planning for future growth. This acquisition brought hope to the aviation sector and was one of the most discussed deals among Recent Mergers and Acquisitions in India.

Axis Bank Acquiring Citibank India’s Retail Business

Axis Bank bought Citibank's retail operations. This included credit cards, loans, and wealth management services. With this deal, Axis Bank gained many new customers. It also strengthened its place in the financial sector. This was seen as a strategic, forward-looking move.

Cipla’s Purchase of ANI Pharmaceuticals India Operations

Cipla acquired the Indian unit of U.S.-based ANI Pharmaceuticals. This helped Cipla enter new segments and add more medicines to its portfolio. It supported Cipla’s long-term growth and research goals.

Recent Mergers and Acquisitions in India FAQs

What are mergers and acquisitions in India?

Mergers and acquisitions are business activities where two companies join to form one, or one company buys another. They help companies grow, enter new markets, cut costs, and gain new skills or technology.

Why are Recent Mergers and Acquisitions in India Increasing?

They are increasing due to market expansion needs, advanced technology demands, cost-saving advantages, government support, and opportunities created by the Insolvency and Bankruptcy Code (IBC).

Which sectors show the highest merger and acquisition activity?

Sectors with high activity include IT and Technology, Pharmaceuticals and Healthcare, Banking and Finance, and Retail and Consumer.

What is the significance of the HDFC Ltd. and HDFC Bank merger?

It became one of the largest mergers in India’s financial history, helping the combined company expand its customer base, offer more products, and become more efficient.

How did Tata Groups acquisition of Air India impact the aviation sector?

The acquisition marked a historic moment, leading to improved services, updated systems, and renewed growth plans for Air India, making it one of the most discussed deals in India.
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