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July 17, 2017

AZB & Partners tops Legal Advisor League Table for M&A deals in H1’17

Shardul Amarchand Mangaldas, Vaish Associates claim the No.2 & No.3 slots

AZB & Partners topped the Venture Intelligence League Table for Legal Advisors to M&A Transactions during the first six months of 2017. AZB & Partners advised M&A deals worth $14.4 Billion (across 24 qualifying deals) during the period. Shardul Amarchand Mangaldas ($13 Billion across 10 deals) and Vaish Associates ($12.5 Billion across 2 deals) followed next. S&R Associates ($12.4 Billion across 5 deals) occupied the fourth spot while Bharucha & Partners and Slaughter May shared the fifth spot for H1 2017. All the top five firms were involved in the Vodafone-Idea merger deal.

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.

AZB advised deals during the period included the sale of Tikona’s 4G business to Bharti Airtel and the Havells-Lloyds Electrical & Engineering deal. AZB also advised the sale of $587 million stake in Tata Motors by Tata Steel (to Tata Sons). Transactions advised by SAM included the $275 million acquisition of a majority stake in Aegis BPO by Private Equity fund Capital Square Partners and the Tikona-Bharti Airtel deal. Vaish Associates also advised the Denstu Aegis acquisition of SVG Media.

AZB topped the tables in terms of deal volume during H1’17, while Khaitan & Co. (18 deals worth $1.2 Billion) and HSA Advocates (11 deals worth $465 million) accounted for the top 3 slots  by activity. Cyril Amarchand Mangaldas (10 deals worth $693 million) finished the half year at fourth spot while SAM took the fifth spot.

The full league tables can be viewed online at

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.