Bank of Baroda and Mizuho partner on Indian M&A financing amid corporate consolidation boom

For DSAs and loan distribution networks, this signals that the largest corporate lending opportunities increasingly require access to global capital pools and complex structuring expertise. Domestic-only lenders will struggle to compete in the mega-deal space, reshaping how corporations source acquisition financing and which intermediaries they engage.

For NBFCs and smaller lenders, the trend underscores the widening gap between retail and SME lending (where domestic capital suffices) and large corporate M&A (where cross-border partnerships now dominate). This concentration of mega-deal financing in alliance-backed banks reduces competitive pressure on mid-market acquisition lending.