Kotak Bank Acquires Standard Chartered's ₹4,100 Crore Loan Book
Kotak Mahindra Bank has finalized an acquisition deal to take over Standard Chartered Bank's personal loan portfolio worth ₹4,100 crore. This strategic move will strengthen Kotak's offerings to affluent customers and enhance its personal finance sector growth.
Reliance-Disney Mega Merger Leads Q1 M&A Activity
In the first quarter of 2024, India witnessed 427 mergers and acquisitions valued at $20.4 billion. The $8.5 billion Reliance-Disney Star merger dominated the landscape, contributing significantly to the overall deal value. This quarter also saw major investments in telecom and infrastructure sectors.
HDFC and HDFC Bank Complete Historic Merger
HDFC has completed its landmark merger with HDFC Bank, creating India’s second most valuable company by market capitalization. This merger integrates the largest mortgage lender with one of India’s leading private banks, aiming to boost financial inclusivity and accelerate growth.
IPO Market in India Poised for Growth in 2024
India’s investment banking scene is expected to see robust activity in 2024, driven by large-scale IPOs and capital-raising deals. With central banks signaling a potential reduction in interest rates, investor sentiment is improving. Kotak Investment Banking predicts that sectors like electric vehicles, fintech, and consumer tech will lead the way for a more diverse and thriving IPO market, following a challenging 2023 that saw M&A activity decline by over 50%
HDFC Bank Approves ₹2,500 Crore IPO for HDB Financial Services
HDFC Bank has approved the public listing of its subsidiary, HDB Financial Services, with an IPO worth ₹2,500 crore. The move is part of a strategic decision to capitalize on growth opportunities in the financial services market. The IPO is expected to hit the market in late 2024, adding momentum to India’s burgeoning financial sector
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