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January 19, 2017

Shardul Amarchand Mangaldas tops Legal Advisor League Table for PE deals in 2016

AZB & Partners, Cyril Amarchand Mangaldas claim the No.2 & No.3 slots



Shardul Amarchand Mangaldas (SAM) topped the Venture Intelligence League Table for Legal Advisor to Private Equity Transactions during 2016. SAM advised PE deals worth $6,500 million (across 47 qualifying deals) during 2016. AZB & Partners ($5,778 million across 58 deals) and Cyril Amarchand Mangaldas ($3,243 million across 34 deals) followed next. J Sagar Associates ($2,378 million across 28 deals) and Samvad Partners ($2,082 million across 43 deals) completed the top five for 2016.

The Venture Intelligence League Tables, the first such initiative exclusively tracking transactions involving India-based companies, are based on value of PE and M&A transactions advised by Transaction and Legal Advisory firms.

SAM advised its Canadian PE firm client Brookfield on the $1,630 million acquisition of a majority stake in telecom tower arm of Reliance Infratel and the $1,000 million acquisition of office and retail space unit of the Hiranandani Group. 

Transactions advised by AZB included the $200 million investment in Snapdeal by Ontario Teachers’ Pension Plan and the $300 million investment in Sanmar Group by Fairfax Holdings. Transactions advised by CAM included the $321 million investment in Bangalore International Airport by Fairfax Holdings and the $175 million investment in Hike by Tiger Global, Tencent and Foxconn.

AZB topped the tables in terms of deal volume, while SAM and Samvad Partners came in next. Samvad Partners advised deals included the $85 million investment in Western UP Tollway by I Squared Capital and the $17 million investment in Treebo Hotels by Bertelsmann India Investments, SAIF and Matrix Partners India. BMR Legal ($867 million across 41 deals) and CAM finished the year at fourth and fifth spot in terms of quantum of deals advised. Debutant law firm VERTICES PARTNERS advised as many as 23 deals (Approx $101 million) in 2016 - in just ten months after kicking off operations - to break into the list of Top 10 law firms.

Among Early Stage investments, NovoJuris led the tables in terms of deal volume advising 22 deals while VERTICES PARTNERS took the second spot advising 21 early stage deals.

By Industry

SAM advised 14 PE deals worth $1,655 million involving Information Technology (IT) focused companies, followed by Platinum Partners ($1,520 million across two deals) and Samvad Partners ($1,325 million across 25 deals). SAM also topped BFSI tables advising nine deals with a value tag of $1,055 million, followed by AZB & Partners ($940 million across 14 deals) and CAM ($525 million across five deals).

SAM topped the Infrastructure deals table, advising six deals worth $1,892 million. J Sagar Associates (three deals worth $1,658 million) and international law firm Herbert Smith Freehills which advised the Reliance Infratel – Brookfield deal worth $1,630 million completed the top 3 slots.

Khaitan & Co. led the Healthcare deals table advising seven deals with a value tag of $385 million whereas CAM (four deals worth $174 million) and J Sagar Associates (eight deals worth $134 million) accounted for the second and third spots. Among Education deals, BMR Legal led the table advising four deals worth $91 million. Nishith Desai Associates ($67 million across two deals) and Khaitan & Co which advised NSPIRA – CX Partners worth $59 million, completed the top three slots.

Apart from VERTICES PARTNERS, other new entrants into the Venture Intelligence league table in the PE category during 2016 included CounsePro (Formerly Menon Associates), TRA, Avigna Law, Spice Route Legal and King Stubb & Kasiva.

The full league tables can be viewed online at http://www.ventureintelligence.com/leagues.php

Venture Intelligence is India's longest serving provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India.