Skip to main content

Cyril Amarchand Mangaldas tops League Table for Legal Advisors to M&A deals for 2020

Cyril Amarchand Mangaldas (CAM) topped the Venture Intelligence League Table for Legal Advisor to M&A Transactions for the year 2020. CAM advised M&A deals worth $27.4 Billion (across 72 qualifying deals). AZB & Partners ($19.6 Billion across 50 deals) and Davis Polk & Wardwell ($10.2 Billion across 2 deals) took the second and third spots respectively. Trilegal ($9.6 Billion across 34 deals) and Shardul Amarchand Mangaldas (SAM, $7.3 Billion across 15 deals) completed the top five.



AZB & Partners, Davis Polk & Wardwell, Freshfields Bruckhaus Deringer, and J Sagar Associates (JSA) advised Reliance Industries (RIL group telecom arm Jio Platforms' $10.1 Billion fundraise from Facebook and Google.

AZB, Khaitan & Co., and CAM advised Brookfield's $3.7 Billion acquisition of Reliance Tower Infrastructure Trust.

CAM, Khaitan & Co., SAM, Shearman & Sterling, Trilegal and Wadia Ghandy & Co. advised Reliance Retail Ventures  $3.4 Billion acquisition of Future Group's retail related ventures.

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

Among the largest deals in the quarter ending December 2020, CAM and Trilegal advised Blackstone's $1 Billion acquisition of packaging glass manufacturer Piramal Glass. Chandhiok & Mahajan and CAM advised Grasim Industries unit Indo Gulf Fertilisers' (IGF) sale to Indorama for $356 million. Milbank, Khaitan & Co., and CAM advised Manipal Group’s $282 million acquisition of Columbia Asia Hospitals.


Among foreign firms, Davis Polk & Wardwell came on top in 2020 having advised 2 deals worth $10.2 Billion. They were followed by Freshfields Bruckhaus Deringer who advised 1 deal worth $4.5 million. Shearman & Sterling came next with 2 deals worth $3.4 Billion.

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

By Deal Volume

CAM also topped the tables in terms of deal volume having advised 72 deals. AZB and Khaitan took the second spot with 50 deals each, followed by Trilegal with 34 deals. JSA (20 deals) and IndusLaw (16 deals) took the fourth and fifth spots respectively.


By Industry

AZB topped the Infrastructure sector having advised deals worth $15.7 Billion. CAM advised deals worth $14.3 Billion in this segment, followed by Davis Polk & Wardwell with deals worth $10.2 Billion. JSA ($4.8 Billion) and Freshfields Bruckhaus Deringer ($4.5 Billion) took the fourth and fifth spots respectively.

CAM topped the BFSI sector advising deals worth $6.2 Billion, followed by AZB with $2.4 Billion. Argus Partners took the third spot having advised deals worth $1.3 Billion. By deal volume, CAM had advised 11 BFSI deals, followed by AZB with 9 deals and Trilegal which advised 4 such deals.

Under IT & ITeS, Trilegal topped the table having advised 12 deals worth $922 million. It was followed by IndusLaw with 9 deals worth $688 million. Chandhiok & Mahajan came third with 2 deals worth $552 million.

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

To showcase your firms' transactions in the 2020 League Tables, mail Vanathi 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.

Popular posts from this blog

VC Interview: Shailendra Singh of Sequoia Capital India

In a recent interview to Venture Intelligence, Shailendra Singh discussed some of the firm’s newer investments in the early stage segment including in the online payments space, the progress at a few existing portfolio companies and the active role the firm is playing in helping its portfolio companies scale and succeed in India and globally. Prior to joining the firm in 2006, Singh was a strategy consultant at Bain & Company in New York and before that, an entrepreneur in the digital media industry. Venture Intelligence: How does Sequoia go about identifying potential early stage investments in India? Is there anything different you are doing today than, say, a couple of years back? Shailendra Singh: There is a lot more focus on technology investing and early stage investing. In general, as you might remember a few years ago, we were doing primarily growth investing but in the past 18-odd months, we have had a very strong focus on early stage and that’s continuing. In terms

Ambit tops League Table for Transaction Advisors to Private Equity deals in 2019

Ambit Corporate Finance topped the Venture Intelligence League Table for Transaction Advisor to Private Equity Transactions for the year 2019. Ambit advised PE deals worth $2.4 Billion (across 4 qualifying transactions) during the period. Citi ($1.1 Billion across 2 deals) and  Avendus  ($969 million across 12 deals) took the second and third spot. Edelweiss Financial Services ($758 million across 9 deals) and  PwC  ($708 million across 15 deals) completed the top five in 2019.  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 Financial and Legal Advisory firms. Ambit Corporate Finance advised the $1.9 Billion buyout of Pipeline Infrastructure from Reliance Industries   by Brookfield Asset Management  and the IFC and I Squared Capital-backed   Cube Highways' acquisition of Delhi-Agra Toll Road from Reliance Infrastructu

Inventus, Sixth Sense, Blume & Norwest win Apex'20 Venture Capital Awards

Inventus Capital Partners, Sixth Sense Ventures, Blume Ventures and Norwest Venture Partners were voted the top Venture Capital investors in India during 2019. The Venture Intelligence “Awards for Private Equity Excellence” (APEX) is dedicated to celebrating the best that the Indian Private Equity & Venture Capital industry has to offer. Other 2019 winners in the VC segment included  Axilor Ventures which was voted   the  Accelerator of the Year for the second year running, 3one4 Capital (VC Fund Raise of the Year) and Innoven Capital (Venture Debt firm of the Year). The APEX Awardees are selected based on both Self Nomination by the participating PE-VC firms as well as "crowd sourced" nominations and voting from the Limited Partner, PE-VC and advisory communities. (The main criteria are Exit Track Record, New Fund Raises & Follow-on Funding Rounds for Portfolio Companies).    " It is an honour to be recognised by entrepreneurs and investors as

PE Investments down by 36% in Q1'20

Press Release Private Equity-Venture Capital (PE-VC) firms invested $5.9 Billion (across 164 deals) during the quarter ended March 2020 - 36% lower than the $9.2 Billion (across 249 transactions) during the same period last year, according to data from  Venture Intelligence , a research service focused on private company financials, transactions and their valuations. The Q1'20 investments were also 37% lower compared to the immediate previous quarter (which had witnessed $9.4 Billion being invested across 227 transactions). (Note: These figures include Venture Capital investments, but exclude PE investments in Real Estate). The latest quarter witnessed 14 PE-VC investments worth $100 million or more, down from the 20 such transactions in the same period last year. The largest PE-VC investment announced during Q1’20 was the $567 million takeover of power generation company  RattanIndia Power by Goldman Sachs and Varde Partners. The second largest investment was SoftBank

Jio deals help PE investments climb 12% in H1'20 to $18.8 B

Press Release With Reliance Industries' communications unit Jio Platforms attracting 51% of the investment value, Private Equity-Venture Capital (PE-VC) investments in India rose 12% during the first 6 months of 2020 to $18.8 Billion (across 341 deals), shows data from  Venture Intelligence , a research service focused on private company financials, transactions and their valuations. Investments totaling over $9.5 Billion in Jio by a troop of global private equity firms, following social media giant Facebook's $5.7 Billion mid April investment in the company, helped overall PE-VC investments better the $16.8 Billion (across 503 transactions) invested during the same period in 2019. (Note: These figures include Venture Capital investments, but exclude PE investments in Real Estate).   Jio Platforms' $9.5 Billion Private Equity haul (excluding Facebook’s strategic investment) was led by Middle Eastern and American investors with KKR, Saudi Arabia's Public Invest