AZB & Partners tops League Table for Legal Advisors to M&A deals in 2021

CAM and Trilegal Take 2nd and 3rd Spots

AZB & Partners (AZB) topped the Venture Intelligence League Table for Legal Advisor to M&A Transactions during 2021 advising 77 deals worth $31.2 Billion. It was followed by Cyril Amarchand Mangaldas (CAM) ($26.3 Billion across 79 deals) and Trilegal ($16.6 Billion across 24 deals) respectively. Shardul Amarchand Mangaldas (SAM) ($16.5 Billion across 37 deals) and Khaitan & Co. ($12.9 Billion across 82 deals) completed the top five.

Among the larger deals during 2021, AZB, CAM and Trilegal advised Piramal Enterprises' acquisition of stressed mortgage lender DHFL for $5.2 Billion. AZB, SAM, and Trilegal advised the $4.7 Billion acquisition of digital payments provider Billdesk by PayU. CAM advised Adani Green Energy’s acquisition of 100% interest in SB Energy from Japan's SoftBank Group and Bharti Group for $3.5 Billion. SAM advised Carlyle Group’s $3 Billion acquisition of IT services firm Hexaware Technologies.

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 foreign firms, Kirkland & Ellis emerged on top advising 2 deals worth $1.2 Billion. It was followed by Wilson Sonsini Goodrich & Rosati with 2 deals worth $900 million. Davis Polk & Wardwell came in third having advised 1 deal worth $771 million.

AZB, CAM, and Link Legal advised the $2.4 Billion winning bid by Tata Sons for the national air carrier Air India. AZB and Davis Polk & Wardwell advised Reliance Industries’ $771 million acquisition of Norway-headquartered REC Solar Holdings from China National Bluestar (Group) Co Ltd. CAM and Talwar Thakore & Associates advised HSBC's $425 million acquisition of L&T Finance Holdings' mutual fund business unit.

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

By Deal Volume

Khaitan & Co. topped the tables in terms of deal volume having advised 82 deals. CAM took the second spot with 79 deals, followed by AZB with 77 deals. IndusLaw (43 deals) and SAM (37 deals) took the fourth and fifth spots respectively.

By Industry

Under the IT & ITeS industry, SAM topped the table having advised deals worth $10.8 Billion. It was followed by AZB with $10 Billion. Trilegal took the third spot having advised deals worth $6 Billion. CAM ($4.1 Billion) and Khaitan & Co. ($2.8 Billion) completed the top five. By deal volume, IndusLaw topped the table with 29 deals. They were followed by Khaitan and AZB with 23 and 22 deals respectively. CAM (17 deals) and J Sagar Associates (12 deals) completed the top five.

CAM topped the table (by value) in the Infrastructure sector having advised 23 deals worth $11.5 Billion. AZB came second with 22 deals worth $6.9 Billion. Khaitan & Co. took the third spot having advised 22 deals worth $5.8 Billion.

AZB topped the table under BFSI deals (by both value and volume), having advised 8 deals worth $10.7 Billion, followed by CAM with 8 deals worth $8.4 Billion. Trilegal took the third spot with 5 deals worth $7.5 Billion.

Under Healthcare deals (by value), SAM ($1.7 Billion) topped the table followed by AZB with deals worth $1.4 Billion. CAM ($908 million) and Trilegal ($892 million) took the third and fourth spots respectively. AZB and CAM topped the table in terms of deal volume with 7 deals each. It was followed by SAM, Veritas Legal, and Khaitan & Co. with 5 deals each.

Under the Manufacturing industry, AZB topped the table (by value) with 9 deals worth $1 Billion. It was followed by Khaitan & Co. (11 deals worth $950 million) and CAM (11 deals worth $935 million) in the second and third spots, respectively.

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, contact Vanathi at

deals@ventureintelligence.com.

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.

PE-VC investments decline 8% to $6.2 B in Q1'24

Press Release: Private Equity - Venture Capital (PE-VC) firms invested over $6.2 Billion (across 205 deals) in Indian companies during the first three months of 2024, shows data from Venture Intelligence , a research service focused on private company financials, transactions, and their valuations. (Note: These figures include Venture Capital type investments, but exclude PE investments in Real Estate). The investment amount represents a 8% fall over the $6.7 Billion (across 242 deals) invested in the same period during 2023 and also down by 6% when compared to the immediate previous quarter (which witnessed $6.6 Billion being invested across 200 deals). Deal volumes in Q1'24 also declined 15% compared to Q1'23 and were up by 3% compared to the immediate previous quarter. Q1’24 witnessed 8 mega deals ($100 M+ rounds) worth $3.5 Billion, compared to 17 such investments (worth $3.6 Billion) in Q1’23 and 15 such deals (worth $4.1 Billion) in the immediate previous quarter. Th

AZB tops League Table for Legal Advisors to PE deals in H1’24

Trilegal and Khaitan & Co. claim the No.2 & No.3 slots AZB & Partners (AZB) topped the Venture Intelligence League Table for Legal Advisor to Private Equity Transactions in H1 2024 advising 41 deals worth $5.4 Billion. It was followed by Trilegal ($5.1 Billion across 54 deals) and Khaitan & Co. (4.8 Billion across 46 deals) in the second and third spot respectively. Cyril Amarchand Mangaldas (CAM) ($2.9 Billion across 34 deals) and Talwar Thakore & Associates ($2.4 Billion across 9 deals) completed the top five. Among the larger Private Equity deals during H1’2024, Khaitan & Co., Talwar Thakore & Associates, S&R Associates ,and Trilegal a dvised the $2 Billion acquisition of the Indian business of American Tower Corporation by Brookfield which was the largest PE-VC investment in 2024 . AZB advised the $900 Million acquisition of Altimetrik by TPG Capital and the $840 Million acquisition of Healthium Medtech by KKR . Resolut Partners , Khaitan &

Avendus tops League Table for Transaction Advisors to PE deals in H1'24

Citi and Ambit claim the No.2&3 slots Avendus topped the Venture Intelligence League Table for Transaction Advisor to Private Equity Transactions in H1’2024 advising 12 deals worth $2.4 Billion. Citi stood second, having advised 1 deal worth $2 Billion. Ambit followed with 7 deals worth $797 million. Kotak Mahindra Capital ($735 million across 2 deals) and Ernst & Young ($657 million across 7 deals) completed the top five for H1’ 2024. 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 latest quarter, Citi, KPMG , Ernst & Young advised $2 Billion acquisition of the Indian business of American Tower Corporation by Brookfield . Avendus, Ernst & Young, JM Financial, Barclays and KPMG advised $ 554 million acquisition of Shriram Housing Finance by Warburg

Citi tops League Table for Transaction Advisors to M&A deals in H1'24

Ernst & Young and Avendus claim the No.2 & No.3 slots Citi , which advised the $2 Billion acquisition of the Indian business of American Tower Corporation by Brookfield, topped the Venture Intelligence League Table for Transaction Advisors to M&A Deals during H1 2024. Ernst & Young stood second advising 8 deals worth $1.5 billion. Avendus followed with 7 deals worth $1.2 billion. KPMG ($1.1 billion across 5 deals) and JM Financial ($900 million across 4 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 other larger M&A deals in H1 2024 (other than the ATC-Brookfield deal) , Ernst & Young, KPMG and Deloitte advised $1.1 Billion acquisition in PNC Infratech 12 Road Projects by Highways Infrastructure Trust . Kotak Mahindra Capital,

AZB & Partners tops League Table for Legal Advisors to M&A deals in H1’24

Khaitan & Co. and J Sagar Associates claim the No.2 & No.3 slots AZB & Partners topped the Venture Intelligence League Table for Legal Advisor to M&A Transactions during H1 2024 advising 37 deals worth $14.8 Billion. It was followed by Khaitan & Co. ($12.8 Billion across 32 deals) and J Sagar Associates (JSA) ($9.8 Billion across 13 deals). Cyril Amarchand Mangaldas (CAM) ($6.2 Billion across 38 deals) and Trilegal ($4.8 Billion across 20 deals) completed the top five. Among the largest M&A deals during H1 2024, AZB, JSA and Khaitan & Co. advised $8.5 Billion acquisition of Disney Hotstar by Reliance Jio . S&R Associates , Talwar Thakore & Associates (TTA), Khaitan & Co. and Trilegal advised the $2 Billion buyout deal of ATC India by Canadian infrastructure investor Brookfield Asset Management . CAM advised the $1.3 Billion in the acquisition of a further stake in Ambuja Cement by Adani Enterprises . Among foreign firms, Kirkland &a

The Venture Intelligence Blog

Search This Blog