Skip to main content

Morgan Stanley tops League Table for Transaction Advisors to M&A deals in 2020

Morgan Stanley, which advised the $10.1 Billion strategic investment by Facebook and Google into Reliance Industries' telecom arm Jio platforms (among other Private Equity investments in the company), topped the Venture Intelligence League Table for Transaction Advisor to M&A Deals for 2020. Ambit Corporate Finance - which advised 3 deals worth $4.0 Billion, including Brookfield's $3.7 Billion acquisition of Reliance Tower Infrastructure Trust - took the second spot.

JM Financial ($3.7 Billion across 5 deals),Metta Capital ($3.4 Billion across 3 deals) and ICICI Securities ($3.4 Billion across 2 deals) - all of whom (along with Citi) are advisors to the $3.4 Billion acquisition of Future Group's retail related ventures by Reliance Retail, announced in August - completed the top five.

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 larger deals in the quarter ending December 2020, Axis Capital acted as the transaction advisor to packaging glass manufacturer Piramal Glass’ $1 Billion acquisition by Blackstone. Deloitte acted as the advisor to the $638 million acquisition of Reliance Infratel by Reliance Projects (Jio Infocomm). Allegro Advisors advised Columbia Asia Group’s $282 million acquisition by Manipal Health Enterprises.

The full league table can be viewed online at

By Deal Volume

Candle Partners topped the table in terms of deal volume with 6 deals. Deloitte, JM Financial, Avendus, Edelweiss Financial Services and Ernst & Young shared the second spot, having advised 5 deals each.

PwC topped the League Table for Transaction Advisors (including Other Advisory Services) to M&A deals for the year 2020. 

Inclusive of its roles in due diligence and related advisory activities, PwC topped the tables by both value and volume with $21.7 Billion across 48 deals. Deloitte took second place in this table, having advised deals worth $13.5 Billion across 38 deals. Morgan Stanley stood third with 2 deals worth $10.2 Billion. RBSA Advisors (with 18 deals worth $7.2 Billion) and Ernst & Young (9 deals worth $5.4 Billion) stood in fourth and fifth place respectively.

By deal volume, PwC stood first with 48 deals. The second spot went to Deloitte which advised 38 deals. BDO India came third with 22 deals. RBSA Advisors (18 deals) and Transaction Square (17 deals) completed the top five.

The full league table can be viewed online at

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

ChrysCapital, Motilal Oswal PE & Sequoia named PE-VC Firms of the Decade

Press Release ChrysCapital, Motilal Oswal Private Equity and Sequoia Capital India have been named the top Private Equity & Venture Capital investors in India during the last decade, as part of Venture Intelligence’s APEX Awards. 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.  While ChrysCapital won the “Private Equity Investor of the Decade” award, Motilal Oswal Private Equity was feted as India’s “Growth Capital Investor of the Decade”. The Indian arm of the storied Silicon Valley VC firm, Sequoia Capital, was named the country’s “Venture Capital Investor of the Decade”. 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 were Exit Track Record, New Fund Raises & Fo

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

PE-VC investments in 2020 cross $39-B to create a "hat trick" of all time highs

Press Release:  Private Equity - Venture Capital (PE-VC) firms, shrugged off the pandemic induced blues, to invest a record $39.2 Billion in Indian companies (across 814 deals) in 2020,  shows data from  Venture Intelligence  - a research service focused on private company financials, transactions, and their valuations. The $17.3 Billion* invested by US-headquartered private equity and other global sovereign wealth funds in Reliance Industries Limited (RIL) Group firms - including in the telecom-focused holding company  Jio Platforms ($9.9 Billion), Reliance Retail ($6.4 Billion), and  Reliance Digital Fibre Infrastructure Trust ($1 Billion) - accounted for 44% of the total PE-VC investment value in 2020. (*This figure excludes the $10.2 Billion in strategic investments by Silicon Valley tech giants Google and Facebook in Jio Platforms). On the back of the RIL deals, PE-VC investments in 2020 grew 6.6% over the   $36.3 Billion (across 1012 deals) invested in 2019 and helped create a

Legal Capsule by Veyrah Law

COVID-19: Turning Point for Online Pharma With the rapid advancement of the internet and movement of businesses online, it was only time before the pharmaceutical retail industry also joined the bandwagon. The pharmaceutical retail industry which has long been popular among investors also started to venture into providing online services ( Online Pharma ). This was due to the increased demand and tech-savvy clientele who preferred to order from the comfort of their homes. So, it was only natural that the Online Pharma sector bloomed during the Covid-19 pandemic and the ensuing lockdown.  Online Pharma is high in demand due to better discounts, convenience, greater anonymity, accessibility in remote locations, easy home delivery, etc. These features have made it the preferable option over community brick and mortar pharmacies during the pandemic. This article explores the current regulatory regime surrounding Online Pharma and the opportunities in India that it presents for investors. O