Tatas led the global M&A ambitions of India Inc as the home grown entities acquired companies abroad with a war chest of $11.37 billion in the Q1 of 2007-08, an Assocham Eco Pulse Study (AEP) said. The foreign firms invested much less $2.06 bn in buying out Indian firms during the period.
The Indian firms also stayed ahead of foreign companies in acquiring entities based and operating in the country. As against $ 2.06 bn buy outs by foreign firms in India, the domestic companies made $ 2.63 bn purchases, said the study on Mergers and Acquisitions in Q1 2007-08.
“It goes to the credit of Indian entrepreneurs for reaching out to the world in a much bigger way than the overseas firms’ desire to acquire business in India,” Assocham President Venugopal Dhoot said. The Tata Group carried out buy-outs upto $ 5.35 billion at domestic and international level.