Skip to main content

AZB & Partners tops League Table for Legal Advisors to Private Equity deals for H1'22

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 2022. advising PE deals worth $11.1 Billion (across 84 qualifying deals) during the period. Trilegal ($5.7 Billion across 36 deals) and Khaitan & Co. ($5.35 Billion across 37 deals) took the second and third spots. Cyril Amarchand Mangaldas (CAM) ($5.3 Billion across 46 deals) and IndusLaw ($3.3 Billion across 85 deals) completed the top five.







Among the larger PE-VC transactions during the period, Shardul Amarchand Mangaldas (SAM), Trilegal, Freshfields Bruckhaus Deringer advised Mobile Content and News aggregator Unicorn – Dailyhunt’s $805 million fundraise from Sumeru Ventures, Luxor Capital, Ontario Teachers Pension Plan, Sofina, Baillie Gifford, and CPPIB. AZB & Partners and Indus Law advised food delivery company Zomato’s acquisition of instant grocery startup Blinkit (formerly known as Grofers). AZB & Partners, Khaitan & Co. and Trilegal advised CPPIB in  joint venture with Tata Realty and Infrastructure.

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, Freshfields Bruckhaus Deringer came on top having advised 1 deal worth $805 million. Cleary Gottlieb Steen Hamilton and Kirkland & Ellis took the second spot having advised 1 deal worth $360 million. Weil, Gotshal & Manges came third having advised 1 deal worth $263 million each, and Gunderson Dettmer took the fourth spot with 4 deals worth $239 million. Simpson Thacher & Bartlett took the fifth spot advising 1 deal worth $236 million.

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

By Deal Volume

Burgeon Law topped the tables in terms of deal volume having advised 107 deals during H1 2022. IndusLaw took the second spot with 85 deals. This was followed by AZB & Partners with 84 deals. Cyril Amarchand Mangaldas, Jerome Merchant + Partners and Peritum Partners took the fourth spot with 46 deals each, and Lexstart completed the top five with 38 deals.

Among foreign firms, Gunderson Dettmer topped the table in terms of deal volume by advising 4 deals. Goodwin Procter came in second advising 3 deals.






By Industry

Among PE transactions in the IT & ITeS industry (by value), AZB ($4.8 Billion) stood first followed by IndusLaw ($2.6 Billion). CAM ($2.3 Billion) and Khaitan & Co. ($2.1 Billion) took the third and fourth spots respectively. Trilegal ($2.04 Billion) completed the top five. By deal volume, Burgeon Law (71 deals) topped the table followed by IndusLaw (66 deals) and AZB (51 deals). Peritum Partners took the fourth spot with 35 deals and Jerome Merchant + Partners completed the top five with 34 deals.

Under the Financial Services industry, AZB topped the table advising 7 deals worth $1.9 Billion followed by CAM advising 4 deals worth $1.32 Billion. Khaitan & Co. took the third spot advising 6 deals worth $1.09 Billion. Trilegal ($1.05 million across 5 deals) and J Sagar Associates ($268 million across 3 deals) took the fourth and fifth spots respectively.

Among Infrastructure sector deals, AZB topped the table advising 7 deals worth $1.2 Billion, followed by IndusLaw with 3 deals worth $454 million. CAM (4 deals worth $440 million) and Trilegal (5 deals worth $402 million) took the third and fourth spots respectively. SAM (3 deals worth $380 million) completed the top five.

Trilegal topped the Real Estate industry. Khaitan & Co. advised 3 deals worth $939 million and AZB  advised 3 deals worth $743 million.

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

To showcase your firms' 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.

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

Nasscom announces Short-listed Cos for EMERGE Product Showcase 2010

Software industry association Nasscom has released a shortlist of companies which will be showcased as part of the "EMERGE Product Showcase for 2010" at its Product Conclave 2010 event: Aikon Labs Pvt. Ltd. – A comprehensive idea and initiative management platform that utilizes Web 2.0 and social networking technologies integrated with process management, content management and analytics. The platform helps Enterprises & Academic/Research institutions in tapping ideas from stakeholders in their ecosystem and take them through a stage-gated process to execution. Elina Networks Pvt. Ltd. – Elina creates software based networking and IT management solutions that deliver business continuity and visibility, through robust network security, reliable connectivity, and effective remote IT management. Essentia Soft Solutions – Communities on the Cloud (community as a cloud service) Interviewstreet – Interviewstreet helps you to create your own customized programming tests

"Leveraged stock purchase led Arvind Rao to go astray": Forbes India

Forbes India has an article on the series of events leading to the recent controversial exit of Arvind Rao, Co-founder & CEO of listed Mobile VAS firm OnMobile. On November 23, 2010, Arvind Rao, the 53-year-old co-founder and CEO of OnMobile, bought approximately 6 lakh shares of his company from the open market, representing a little over 1 percent of the company’s total shares....At Rs 277 a share, he had to pony up nearly Rs 16.5 crore to acquire them....So he went ahead and borrowed money to buy the shares, thinking nothing of the interest it entailed or the fact that he’d need to put up nearly half his existing shareholding as collateral...OnMobile’s shares continued to fall from those levels, while Rao’s interest payments ballooned. ...Motivated by OnMobile’s growth all these years, he had never paid much attention to his salary, most of which went towards the monthly rental on his sea-facing apartment in Mumbai and his BMW 7-Series, both paid directly by the company. He r

PE-VC Investments in 2021 hit all time high of $63 Billion

Press Release: Private Equity - Venture Capital (PE-VC) firms invested a record $63 Billion (across 1,202 deals) in Indian companies during 2021, registering  a 57% rise over the   $39.9 Billion (across 913 deals) invested in the previous year ,  reports  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). India minted a total of 44 " Unicorn"  companies (VC-funded startups valued at $1 Billion or more)  in 2021, 15 of them during Q4'21. The $23.4 Billion invested into the Information Technology sector dominated list of  Unicorns  accounted for more than 37% of the overall value of PE-VC investments in 2021. The October-December 2021 quarter (Q4'21) saw over $5 Billion (across 25 deals) being invested in such companies.  2021 witnessed eight investments worth $1 Billion or more, led by Flipkart'

LSE Podcast with Apax Founder Ron Cohen

Click Here to download an interesting lecture and interaction (at the London School of Economics) with Ron Cohen , founder of global PE firm Apax Partners. Arun Natarajan is the Founder & CEO of Venture Intelligence, the leading provider of data and analysis on private equity, venture capital and M&A deals in India. View free samples of Venture Intelligence newsletters and reports. Email the author at arun@ventureintelligence.in