Corporate Grapevine     

Published: Dec 15, 2022
Updated: Dec 15, 2022

Tata, Adani were big ‘shoppers’ in 2022

The year 2022 belonged to the Tata and Adani groups. Both groups went on an acquisition spree, buying rivals and merging their own companies.

Tata started the year by buying Air India and is ending the year by merging all airlines, including Tata SIA Airlines, into Air India. It is ending the year by acquiring UTI Mutual Fund and plans to launch the IPO of Tata Technology and Tata Play by early next year.

On the other hand, the Adani group acquired Ambuja Cement for $6.5 billion from Holcim and ended the year by buying NDTV.

By next year, Adani is likely to be in the race to buy Concor and even unlisted Bennett, Coleman — the publishers of Times of India — as per market sources.

Reliance Industries and the Aditya Birla group kept a low profile with the Birla group trying to salvage Vodafone Idea. In 2023, expect listing plans for RIL’s telecom and retail arms, thus unlocking the value in RIL’s shares.