In the Indian financial services industry, there were 18 M&A deals announced in Q4 2023, worth a total value of $1.2bn, according to GlobalData’s Deals Database. The $488m majority acquisition of Kotak Mahindra General Insurance by Zurich Insurance Group was the industry’s largest disclosed deal. GlobalData’s Banking and Payments Industry Mergers and Acquisitions Deals by Top Themes report for 2023 unveils the driving forces behind the M&A activities in the industry, providing crucial insights into trends and shifts. Buy the report here.
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In value terms, M&A activity in India decreased by 59% in Q4 2023 compared with the previous quarter’s total of $2.9bn and rose by 304% as compared to Q4 2022. Related deal volume increased by 13% in Q4 2023 versus the previous quarter.
The top-ranked financial advisors supporting these M&A deals in India in Q4 2023 were Bank of America; Deloitte Touche Tohmatsu; ICICI Bank with 1, 1, 1 deals respectively.
The top-ranked legal advisorss supporting these M&A deals in India Q4 2023 were AZB & Partners; Cyril Amarchand Mangaldas; Khaitan & Co with 9, 3, 3 deals respectively.
For further understanding of GlobalData's Banking and Payments Industry M&A Deals by Top Themes in 2023 – Thematic Intelligence, buy the report here.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
GlobalData’s Deals Database tracks global deal activity, including mergers, acquisitions, capital raising, strategic alliances, and licensing agreements. Proprietary analysis is used to group deals into key thematic areas and granular sectors across the world’s largest industries.
This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Deal type includes Acquisition, Asset transactions and Mergers.
