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India Inc Consolidates: Big Deals Reshape Sectors
11 Dec
Summary
- Disney Hotstar and JioCinema merged to form JioHotstar.
- Reliance Retail acquired Kelvinator and a stake in Shunya.
- UltraTech Cement completed acquisition of Kesoram Industries.
India Inc experienced a wave of significant mergers and acquisitions throughout 2025, with major conglomerates actively pursuing expansion and consolidation across various sectors including banking, retail, energy, digital commerce, and cement.
The media landscape saw the formal merger of JioCinema and Disney+ Hotstar into JioHotstar, a joint venture aiming to unify content and sports rights. In banking, ICICI Securities was fully integrated into ICICI Bank, simplifying the group's structure. Reliance Group aggressively expanded its retail presence by acquiring Kelvinator and a majority stake in Shunya beverages.
The cement sector was particularly active, with UltraTech Cement completing the acquisition of Kesoram Industries. Simultaneously, Adani Group's cement entities, Ambuja Cements, Sanghi Industries, and Penna Cement Industries, moved towards integration. Tata Group accelerated its digital strategy by consolidating BigBasket, Croma, and 1mg onto its Tata Neu platform.
