Kotak Mahindra's investment banking subsidiary has tied up with Japanese investment bank GCA Savvian Corporation to advise on cross-border mergers and acquisitions (M&As) between the two countries. The deal involves GCA Savvian and Kotak Investment Banking becoming exclusive strategic partners, and sharing local knowledge and M&A expertise with each other.
The tie-up between the banks comes as Japanese companies are becoming the biggest buyers in Indian market. Last year, Japanese pharmaceutical giant Daiichi Sankyo snapped up India's largest pharmaceutical company Ranbaxy Laboratries for $4.6 billion. The deal was the biggest inbound acquisition in India. In another large deal, Japan's telco NTT DoCoMo acquired 26% in Tata Teleservices (TTSL) for $2.7 billion.