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AZB & Partners tops League Table for Legal Advisors to M&A deals for Q1 2022

Khaitan and SAM claim the No.2 & No. 3 slots AZB & Partners (AZB) topped the Venture Intelligence League Table for Legal Advisor to M&A Transactions for Q1 2022. AZB advised 22 M&A deals worth $4.8 Billion. It was followed by Khaitan & Co. ($3.95 Billion across 25 deals) and Shardul Amarchand Mangaldas (SAM) ($3.91 Billion across 11 deals) in the second and third spots respectively. K Law ($3.6 Billion across 6 deals) took the fourth spot with Baker McKenzie and Goodwin Procter ($3.3 Billion across 1 deal) completing 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 M&A deals during Q1 2022, SAM, K Law, Baker Mckenzie, and Goodwin Procter advised the $3.3 Billion acquisition of Viatris’ biosimilars business by Biocon Biologics (a subsidiary of publicly listed Biocon). AZB, Khaitan & Co., Linklaters, and Clifford Chance advised Axis Bank’s $1.6 Billion acquisition of Citibank’s consumer business in India. AZB advised Tata Steel Long Products' $1.6 Billion winning bid to acquire Neelachal Ispat Nigam.


Among foreign firms, Baker McKenzie and Goodwin Procter came on top having advised 1 deal worth $3.3 Billion. They were followed by Clifford Chance and Linklaters with 1 deal worth $1.6 Billion.

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 25 deals. AZB and Trilegal took the second spot with 22 deals each, followed by Cyril Amarchand Mangaldas (CAM) with 16 deals. SAM (11 deals) and IndusLaw (9 deals) took the fourth and fifth spots respectively.


By Industry

In the Healthcare industry, SAM topped the table having advised 2 deals worth $3.38 Billion. It was followed by K Law, Goodwin Procter, and Baker McKenzie with 1 deal worth $3 Billion each. Khaitan & Co. took the third spot having advised 4 deals worth $555 million.

Khaitan topped the table in the BFSI industry having advised 4 deals worth $2.3 Billion. AZB came second with 6 deals worth $1.8 Billion. Linklaters and Clifford Chance took the third spot having advised 1 deal worth $1.6 Billion. CAM took the fourth spot with 2 deals worth $1.6 Billion.

AZB topped the table in the Manufacturing industry, having advised 3 deals worth $1.8 Billion, followed by Khaitan & Co. (6 deals worth $586 million) and CAM (5 deals worth $562 million).

Under the IT&ITeS industry (by value), IndusLaw ($705 million) topped the table followed by SAM with deals worth $374 million. CAM ($277 million) and K Law ($267 million) took the third and fourth spots respectively. Trilegal and Samvad Partners topped the table in terms of deal volume with 7 deals each. They were followed by CAM with 6 deals. AZB, SAM, K Law, and IndusLaw took the third spot with 4 deals each.

Under Infrastructure, AZB topped the table with 4 deals worth $1.1 Billion. It wasa followed by Khaitan & Co. (3 deals worth $360 million) and Trilegal (6 deals worth $203 million) in the second and third spots, respectively. CAM took the fourth spot with 3 deals worth $109 million.

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

To showcase your firm's transactions in the 2022 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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