My Finance Mitra

Here are some of the latest mergers and acquisitions involving Indian companies:

• Reliance Industries and Walt Disney Merger: On November 14, 2024, Reliance Industries and Walt Disney completed an $8.5 billion merger of their Indian media assets. The new entity is divided into three divisions: entertainment, digital, and sports, each with its own CEO. This merger creates India’s largest entertainment company, positioning it to compete with Sony, Netflix, and Amazon.
• Coforge and Cigniti Technologies Merger: Coforge and Cigniti Technologies have announced a merger agreement. Coforge plans to absorb Cigniti, with shareholders receiving Coforge shares based on a determined swap ratio. This merger aims to leverage synergy in client locations.
• Dabur’s Acquisition of Sesa Care: Dabur India will acquire a 51% stake in Sesa Care Private Limited from True North for ₹12.5 crore. The estimated enterprise value is between ₹315 crore and ₹325 crore. This merger aims to enhance Dabur’s presence in the Ayurvedic hair care market and create growth opportunities.
• Fortis Healthcare’s Stake in Agilus Diagnostics: The Competition Commission of India (CCI) has approved Fortis Healthcare’s acquisition of an additional 31.52% stake in Agilus Diagnostics, raising its total share to 89.2%.
• JSW Steel’s Acquisition of National Steel & Agro Industries: JSW Steel has initiated a process to acquire Central-India based National Steel & Agro (NSAIL) through a resolution plan submitted under the corporate insolvency resolution process. In May 2023, the company received the final nod from the National Company Law Tribunal for the acquisition.
• Adani Group’s Cement Consolidation: In December 2024, Ambuja Cements, owned by the Adani Group, announced plans to merge its recently acquired units, Penna Cement and Sanghi Industries. This strategic move aims to streamline business operations and simplify compliance. Ambuja had acquired Penna Cement for $1.25 billion in June and holds a majority stake in Sanghi Industries. The merger involves integrating the publicly listed Sanghi Industries into Ambuja by offering 12 Ambuja shares for every 100 Sanghi shares held. This consolidation strengthens Adani’s position in the cement industry, positioning it against leading producers like UltraTech Cement.
• Tata Consumer Products’ Acquisition of Capital Foods: In January 2024, Tata Consumer Products acquired a 75% equity stake in Capital Foods, the company behind popular brands such as Ching’s Secret and Smith & Jones, for ₹5,100 crore. This acquisition enhances Tata’s presence in the fast-growing convenience foods segment and aligns with its strategic focus on expanding its food and beverages portfolio.
• JSW Steel’s Acquisition of National Steel & Agro Industries: In May 2023, JSW Steel completed the acquisition of National Steel & Agro Industries through its subsidiary, JSW Steel Coated Products. This acquisition is part of JSW Steel’s strategy to expand its footprint in the steel industry and enhance its product offerings.
• India’s Regional Rural Banks Merger Proposal: In November 2024, the Indian government proposed merging regional rural banks, reducing their number from 43 to 28. This initiative aims to cut costs and strengthen their capital base, thereby improving credit availability to small farmers and rural businesses.