In line with the global funding winter, deal-making involving domestic firms hit a three-year low after falling 51 per cent to USD 83.8 billion in 2023, saved by the mega-merger of HDFC twins — the biggest deal in India Inc’s history till date, according to an industry report.
Excluding the USD 60.4-billion HDFC Bank-HDFC merger, year-on-year deal value comparison would have been down by another 23 per cent, as per LSEG Deals Intelligence, formerly Refinitiv, one of the world’s largest providers of financial markets data.
The bleak global deal environment translated into fewer mega deals in 2023.
As a result, there was only one deal above USD 3 billion in the year — the HDFC Bank-HDFC USD 60.4 billion deal — compared to five deals in 2022, Elaine Tan, senior manager at LSEG Deals Intelligence said in a note on Thursday.
However, in terms of the volume of deals, it was a minimal 1.7 per cent decline on-year, indicating that a healthier level of mid-market transactions dominated t
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