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India Inc seals 252 M&A deals worth USD 15.8 bn in Jan-Mar: EY

India Inc inked 252 merger and acquisition deals worth USD 15.8 billion during January-March quarter, registering a rise of 23 percent over last year, mainly driven by the Vodafone and Idea deal, says an EY report.

May 23, 2017 / 18:11 IST
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With 160 deals, IT and ITES was the busiest sector followed by manufacturing and healthcare (47). The banking, financial services and insurance (BFSI) space was third, recording 41 deals. Let's take a look at the biggest mergers and acquisitions in India this year. (Representative image)
With 160 deals, IT and ITES was the busiest sector followed by manufacturing and healthcare (47). The banking, financial services and insurance (BFSI) space was third, recording 41 deals. Let's take a look at the biggest mergers and acquisitions in India this year. (Representative image)

India Inc inked 252 merger and acquisition deals worth USD 15.8 billion during January-March quarter, registering a rise of 23 percent over last year, mainly driven by the Vodafone and Idea deal, says an EY report.

The merger between Vodafone India and Idea Cellular for over USD 11 billion, accounting for nearly 74 percent of the total disclosed deal value in the January-March quarter.

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However, another consultancy Grant Thornton had pegged the Vodafone-Idea mega merger to be around USD 27 billion, which primarily contributed more than 80 per cent of the total deal value of the January-March quarter.

Barring this mega deal, the total deal value was USD 4.4 billion for the quarter, the EY report said.