Cash-rich Indian conglomerates are powering a new capex and consolidation cycle, HSBC says
HSBC India CEO Hitendra Dave says groups such as Tata and Adani are funding expansion largely through internal cash flows rather than the debt-heavy model seen in 2012–14. The bank is scaling acquisition financing, affluent banking and mortgages to capture the cycle.
What happened
HSBC India CEO Hitendra Dave says cash-rich groups including Tata and Adani are funding expansion and consolidation through internal cash flows, unlike the
Key facts
- 2012-14
- Rs 4.5 lakh crore
- Rs 5 lakh crore
- $1.5 billion-$2 billion
- 7.5%
- 75-100 bps
Why this matters
Corporate development teams should prepare for more aggressive, better-funded bidders from Tata, Adani and peers, making early target engagement and differentiated deal rationale increasingly important.