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Shardul Amarchand Mangaldas tops League Table for Legal Advisors to Private Equity deals in Q1 2023

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AZB and Khaitan & Co. claim the No.2 & No.3 slots

Shardul Amarchand Mangaldas (SAM) topped the Venture Intelligence League Table for Legal Advisor to Private Equity Transactions for Q1 2023. The firm advised PE deals worth $2.4 Billion (across 26 qualifying deals) during the period. AZB & Partners (AZB) ($1.9 Billion across 17 deals) and Khaitan & Co. ($1.5 Billion across 13 deals) took the second and third spots. Cyril Amarchand Mangaldas (CAM) ($1.4 Billion across 24 deals) and Trilegal ($1.3 Billion across 11 deals) completed the top five.








Among the larger Private Equity deals during Q1 2023, CAM, SAM, Khaitan & Co., Rajaram Legal and AZB advised ADIA’s $500 million investment in omnichannel eyewear retailer Lenskart.  Talwar Thakore & Associates, CAM and Amicus Advocates and Solicitors advised $400 million fund raise by DMI Finance from Mitsubishi UFJ Financial Group. SAM advised Bain Capital’s exit from J M Baxi Ports & Logistics.

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, Allen & Overy came on top having advised 1 deal worth $350 million. Followed by Ropes & Gray and Freshfields Bruckhaus Deringer advising deals worth $300 million.  

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

By Deal Volume

India Juris topped the tables in terms of deal volume having advised 58 deals during the quarter. Peritum Partners took the second spot with 56 deals. This was followed by IndusLaw with 40 deals. Burgeon Law took the fourth spot with 33 deals and SAM completed the top five with 26 deals.

Among foreign firms, Gunderson Dettmer came on top having advised 2 deals; others followed, including Allen & Overy, Ropes & Gray, Freshfields Bruckhaus Deringer, Morrison Foerster and Latham & Watkins having advised 1 deal each.




By Industry

Among PE transactions in the IT & ITeS industry (by value), SAM ($1.3 Billion) stood first followed by Khaitan ($1.1 Billion). IndusLaw ($950 million) and CAM ($872 million) took the third and fourth spots respectively. AZB ($639 million) completed the top five. By deal volume, IndiaJuris (39 deals) topped the table followed by Peritum Partners (38 deals) and IndusLaw (25 deals). Burgeon Law took the fourth spot with 20 deals and Goyel & Goyal (formerly JKGA Law Chambers) completed the top five with 15 deals.

Under the Healthcare sector, SAM topped the table having advised 5 deals worth $416 million, followed by Trilegal with 1 deal worth $300 million. AZB (3 deals worth $260 million) and Khaitan (2 deals worth $250 million) took the third and fourth spots respectively. Pioneer Legal (3 deals worth $135 million) completed the top five.

Under the Financial Services industry, Talwar Thakore & Associates topped the table by value advising 3 deals worth $424 million followed by Amicus Advisors advising 1 deal worth $400 million. CAM took the third spot by advising 3 deals worth $183 million.

SAM (6 deals worth $262 million) topped the Real Estate industry. Trilegal and AZB took the second spot advising 1 deal worth $197 million each. They were followed by Desai & Diwanji and Pioneer Legal advising 1 deal worth $25 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
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.

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