See reinforcement of India growth story: HSBC India

The year has been fairly good for open offers, but Sunil Sanghai of HSBC India, whose company has been an advisor on three major deals recently, does not see it as "trend". The country has seen a number of multinationals (MNCs) hiking their stake in their Indian arms egged on by the depreciating rupee and the much stronger growth rate in emerging markets compared to developed peers. 

Earlier this year, the world's second largest consumer firm Unilever increased its stake from 52 per cent to 75 per cent through a Rs 29,200 crore open offer, the largest so far. According to market regulator SEBI, Indian companies require a minimum public shareholding of 25 percent to maintain a public listing in the country.

More recently, healthcare giant GlaxoSmithKline Plc has planned to pump in USD 1 billion by raising its stake from 50.7 percent to 75 percent in its pharma arm.

There is a reinforcement of the India growth story, says Sanghai. "They (MNCs) know the business; there are no diligence issues. Therefore, it makes sense for them to really increase the stake and increase the economics of their overall investment," he told CNBC-TV18 in an interview.

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