Roundup of Acquisition and Merger Activity on January 21, 2025
Deep Industries Limited
- Deep Industries Limited, through its wholly-owned subsidiary Deep Onshore Services Private Limited, completed the acquisition of Dolphin Offshore Shipping Limited.
- The acquisition, finalized under a resolution plan approved by the NCLT during Dolphin’s Corporate Insolvency Resolution Process, involved the purchase of 10,000 equity shares for INR 1,00,000/-.
- Dolphin specializes in barges, tugs charters, and sea freight, offering Deep Industries an opportunity to diversify its service offerings and strengthen its market presence.
International Conveyors Limited
- International Conveyors Limited acquired 25,334 equity shares of Thangamayil Jewellery Ltd. for Rs. 4.3759 Crore.
- The investment aims to leverage the rapid growth of Thangamayil Jewellery, a leading jewelry retail chain in Tamil Nadu, which recorded turnover growth from Rs. 2,193.08 Cr. in FY 21-22 to Rs. 3,826.78 Cr. in FY 23-24.
Jio Financial Services Limited
- Jio Financial Services Limited (formerly Reliance Strategic Investments Limited) invested Rs. 117.00 crore in Jio BlackRock Asset Management Private Limited, a 50:50 joint venture with BlackRock.
- Both companies subscribed to 5.85 crore equity shares each at a par value of Rs. 10/- per share, reaffirming their commitment to the asset management sector in India.
Share India Securities Limited
- Share India Securities Limited acquired a 4.958% stake in the Metropolitan Stock Exchange of India Limited (MSE) by purchasing 29.75 crore equity shares for Rs. 59.50 crore.
- This strategic investment reinforces Share India’s confidence in the Indian stock exchange market’s growth potential.
Dynamic Day for Indian Markets: Acquisitions Take Center Stage
Mumbai, India – January 21, 2025
A wave of acquisitions marked a significant day in India’s corporate landscape, showcasing the ambition and strategic focus of key players across industries.
Deep Industries Limited forayed into the shipping sector with the acquisition of Dolphin Offshore Shipping Limited, reflecting its intent to broaden its portfolio.
International Conveyors Limited diversified into the jewelry industry, acquiring a stake in Thangamayil Jewellery Ltd., a prominent and rapidly growing chain in Tamil Nadu.
Meanwhile, Jio Financial Services Limited, in partnership with BlackRock, deepened its stake in India’s asset management sector through additional investments in their joint venture.
Finally, Share India Securities Limited expanded its footprint in financial services by increasing its stake in the Metropolitan Stock Exchange of India Limited.
These moves underscore the vitality of India’s corporate sector, as businesses capitalize on emerging opportunities and drive industry consolidation. The flurry of activity reflects optimism in the Indian economy and the strategic vision of these companies.
