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EY tops League Table for Transaction Advisors to M&A deals in first 9 months of 2021


Kotak Mahindra Capital and Avendus claim the No.2 & No.3 slots

Ernst & Young (EY) topped the Venture Intelligence League Table for Transaction Advisor to M&A Deals during the first nine months of 2021, advising 23 qualifying deals worth $8.2 Billion. Kotak Mahindra Capital ($7.9 Billion across 8 deals) and Avendus ($5.7 Billion across 7 deals) took the second and third spots respectively. JM Financial ($1.9 Billion across 6 deals) and Deloitte ($1.8 Billion across 3 deals) 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 largest deals in Q3 2021, Avendus and Kotak Mahindra Capital advised the acquisition of digital payments provider Billdesk by PayU. DC Advisory advised Edtech unicorn Byju’s $600 million acquisition of upskilling platform Great Learning, while Standard Chartered Bank advised Advent International’s $598 million buyout of Shapoorji Pallonji Group’s stake in Eureka Forbes Limited




























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

By Deal Volume

Ernst & Young topped the table in terms of deal volume with 23 deals, followed by Kotak Mahindra Capital and KPMG in the second spot (advising 8 qualifying M&A deals each). Avendus and JM Financial took the third and fourth spots with 7 and 6 deals, respectively. Veda Corporate Advisors and GCA Advisors completed the top five with five deals each.




Inclusive of its roles in due diligence and related advisory activities, RBSA Advisors stood third having advised 14 deals worth $7.0 Billion - following EY (which topped the table with $24.9 Billion across 57 deals) and Kotak Mahindra Capital (which took second place advising 8 deals worth $7.9 Billion). They were followed by KPMG (24 deals worth $6.7 Billion) and Avendus (7 deals worth $5.7 Billion) in fourth and fifth spots respectively.


In terms of volume, Ernst & Young stood first with 57 deals. The second spot was held by KPMG having advised 24 deals. BDO India and Transaction Square took the third and fourth spots having advised 21 and 20 deals, respectively. RBSA Advisors completed the top five with 14 deals.


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

To showcase your firms' transactions in the 2021 League Tables, mail Vanathi at

About Venture Intelligence

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.

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