The country’s two richest businessmen Mukesh Ambani and Gautam Adani are continuously expanding their business through mergers and acquisitions of other companies. On this, investment firm Barclays says that billionaires Gautam Adani and Mukesh Ambani will continue to lead India’s mergers and acquisitions.
Pramod Kumar, Managing Director and Head of Investment Banking, Barclays India, said in an interview to Bloomberg on Wednesday that we are seeing Adani and Reliance Group going into many new businesses. They have enough capital and will continue to explore new opportunities.
According to data compiled by Bloomberg, mergers and acquisitions worth $82 billion were completed in India in the second quarter of this year, with the acquisition of Holcim Group’s Indian cement business for $10.5 billion by Adani Group the largest. is big.
On the other hand, Ambani-led Reliance Industries Limited is trying to buy the Indian business of German retailer Metro AG. Both the companies are also staking claim for the upcoming 5G spectrum.
Kumar further said that due to increase in interest rate by banks in India and depreciation of rupee, there may be slowdown in the process of mergers and acquisitions of companies. In the coming six months, the number of deals between companies may see a decrease.
Both are betting on 5G business: After the application of bidding for 5G spectrum of Adani Group, the competition in the telecom sector can be tough. According to the report, Mukesh Ambani’s Reliance Jio can spend 55 to 60 thousand crores on 5G spectrum while Adani Group can spend 13 to 15 thousand crores on it.