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Ernst & Young tops League Table for Transaction Advisors to M&A deals in 2023

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Allegro Advisors and Ambit claim the No.2 & No.3 slots

Ernst & Young topped the Venture Intelligence League Table for Transaction Advisor to M&A Deals  during 2023,advising 20 deals worth $3.8 Billion. Allegro Advisors stood second advising 3 deals worth $2.4 billion. Ambit followed with 7 deals worth $2.2 billion. Avendus ($1.8 billion across 11 deals) and Jefferies & Co. ($1.1 billion across 1 deal) completed the top five.

Allegro Advisors and Ernst & Young advised the $2 Billion majority stake acquisition by Temasek in Manipal Hospitals. Ambit advised the $1.2 Billion acquisition of Brookfield's Road portfolio by Indinfravit Trust. Arpwood Capital, Jefferies & Co. and Ernst & Young advised the $1.1 Billion buyout of HDFC Credila by a consortium of private equity firms, including BPEA EQT and ChrysCapital.

Among the larger M&A deals in Q4 2023, O3 Capital and KPMG advised the $700 million acquisition of Care Hospitals by Blackstone. Kornerstone Advisors and Ernst & Young advised JSW group’s stake acquisition of SAIC’s Indian subsidiary, MG Motors. Ernst & Young advised Aquapharm’s acquisition by Phillips Carbon Black.


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.



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 20 deals. PwC took the second spot by advising 14 deals, followed by Avendus and o3 Capital, which advised 11 deals each. Ambit and Veda Corporate Advisors took the fourth spot with 7 deals each. Singhi Advisors completed the top five with its 6 deals .



By Industry (Excluding Due Diligence,Tax,Other Advisory Services)

Allegro Advisors ($2.35 Billion) stood first in advising Healthcare & Life Sciences deals (by value), followed by o3 Capital ($956 million). Kotak Mahindra Capital and DAM Capital Advisors ($680 million) took the third spot, followed by ICICI Securities ($340 million) and Veda Corporate Advisors ($289 million). By deal volume, o3 Capital (6 deals) topped the table, followed by Veda Corporate Advisors (5 deals). PwC and Allegro Advisors took the third spot advising 3 deals each. 
 
Under the BFSI industry (by value), Jefferies & Co. ($1.1 Billion) stood first. Ambit and Arpwood Capital ($530 million each) took the second spot. Ernst & Young ($472 million) took the third spot.

Under the IT & ITES industry (by value), Avendus. ($1.5 Billion) took the top spot, followed by o3 Capital ($105 million) took the second spot. Transaction Square ($85 million) took the third spot. By deal volume, Avendus (7 deals), Spark Capital Advisors, PwC, Eiliant Advisors and Ernst & Young (3 deals each) and Equirus Capital, Transaction Square and o3 Capital (2 deals each) completed the top three.

Including Other Advisory Services

Inclusive of its roles in due diligence and related advisory activities, Ernst & Young topped the table, advising 152 deals worth $22.8 Billion followed by PwC with 114 deals across $15.2 Billion. Deloitte took the third spot advising $7 Billion. KPMG stood fourth advising 41 deals worth $5.9 Billion. RBSA Advisors completed the top five with 13 deals worth $4.9 Billion.



In terms of deal volume, Ernst & Young took the top spot advising 152 deals. It was followed by PwC advising 114 deals. Deloitte took the third spot with 79 deals . Transaction Square (52 deals) and KPMG (41 deals) took the fourth and fifth spots, respectively.



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

To showcase your firms' transactions in the 2024 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.
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