YearEnder 2021: 5 business deals that made big headlines in India
From Tata Sons making a winning bid to buy Air India back to Byju’s acquiring coaching institute Aakash Institute, here's the list of top 5 deals of 2021.
New Delhi: It’s that time of the year when we take a look at some of the biggest news of the last 365 days in the world of business. From Tata Group making a winning bid to bring Air India back to its arsenal to edtech major Byju’s acquiring coaching institute Aakash Institute, we have seen it all in 2021.
For a quick flashback at what all major happened in the realm of business in 2021, we have created a list of top 5 deals that made big headlines in India. Have a sneak peek here:
Tata Sons rescues Air India
On October 8, 2021, it was made official that Tata Sons has 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 acquired Aakaash Institute
One of the most valued edtech startups in the world, Byju’s, had acquired Aakash Institutes early this year in a deal worth about $1 billion. The acquisition was the largest to do 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.
Image Credits - ZeeBiz
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 realising its plans of building its own super-app.
Piramal Capital acquired 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.
Image Credits: Reuters
(Note: This list doesn't put one deal over another, and isn't a ranking of any manner. The list is basically a compilation of a few noticeable deals that took place in 2021.)
