5 business deals that made big splash in India

From Tata Sons making a winning bid to buy Air India back to Byju’s acquiring coaching institute Aakash Institute, here are the top 5 deals of 2021 as the Indian startup ecosystem came of age with 82 unicorns with nearly $40 billion investment in 2021 alone. 

Tata Sons rescues Air India

On October 8, 2021, it was made official that Tata Sons had made the winning bid of Rs 18,000 crore to buy debt-laden Air India back from the Indian government, paving way for the return of the carrier under the brand Tata after 68 years.

As far as the recent developments of the deal are concerned, the Competition Commission of India has provided its nod to the sale. The deal is expected to revive Air India.

Sony, Zee Entertainment Merger

Sony Pictures Networks India Private Limited (SPNI) and Zee Entertainment Enterprises Ltd. (ZEEL) have signed definitive agreements to merge ZEEL with and into SPNI, in a deal that would create the largest entertainment network by viewership.

The combined revenue of the merged entity is expected to reach close to $2 billion. Mr. Punit Goenka will lead the combined company as its Managing Director & CEO.

 

Byju’s acquires Aakaash Institute

One of the most valued edtech startups in the world, Byju’s acquired Aakash Institutes early this year in a deal worth about $1 billion. The acquisition was the largest to be made by an Indian startup.

The acquisition was aimed at integrating the online educational services offered by Byju’s and its subsidiaries with Aakash Institue’s offerings. “The future of learning is hybrid and this union will bring together the best of offline and online learning, as we combine our expertise to create impactful experiences for students,” said BYJU’S founder and CEO BYJU Raveendran.

Tata Digital buys Big Basket

Tata Digital bought a majority stake (64.3%) in BigBasket’s registered firm Supermarket Grocery Supplies Private Limited, in a deal reportedly worth about $1.2 billion. The acquisition was made official in April 2021.

The news has come at a time when Tata Group is aiming to make its own super-app. With the acquisition of BigBasket, Tata has taken a major step towards realizing its plans of building its own super-app.

 

Piramal Capital acquires DHFL

In September 2021, Piramal Enterprises Ltd announced the acquisition of the troubled housing financing firm Dewan Housing Finance Corporation Ltd (DHFL) for a whooping Rs 34,250 crore.

Post-acquisition, Piramal Capital and Housing Finance Ltd (PCHFL), which is a subsidiary of the Piramal Enterprises Ltd, were to merge with DHFL.

Images courtesy of File photos and (india.com)

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