Moelis & Company & PwC claim the No.2 & No.3 slots
Ernst & Young (EY) topped the Venture Intelligence League Table for Transaction Advisor to M&A Deals during 2024, advising 34 deals worth $4.1 Billion. Moelis & Company stood second advising 2 deals worth $3.9 billion. PwC followed with 18 deals worth $3.3 billion. Citi ($2.5 billion across 1 deal) and Advay Capital ($2.3 billion across 1 deal) completed the top five.
Among the largest M&A deals in 2024, Citi advised $2.5 Billion acquisition of the Indian business of American Tower Corporation by Brookfield, Advay Capital and Moelis & Company advised the $2.3 Billion acquisition of Care Hospitals by Aster DM Healthcare. Jefferies & Co., JP Morgan and Moelis & Company advised the $1.6 Billion acquisition of Bharat Serums & Vaccines by Mankind Pharma.
Among the other notable M&A deals in Q4 2024, EY advised the $685 million acquisition of ITD Cementation India by Adani Group. JP Morgan advised $558 million acquisition by Intas Pharmaceuticals of the "Udenyca" franchise from US-based Coherus BioSciences. Avendus advised the $482 million acquisition of Thyssenkrupp Electrical Steel India by JSW JFE Electrical Steel.
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
EY also topped the M&A table in terms of deal volume during 2024 with 34 deals. PwC took the second spot by advising 18 deals. Avendus and KPMG took the third spot by advising 12 deals each, followed by Transaction Square with 9 deals. Singhi Advisors, which advised 8 deals, completed the Top 5.
By Industry (Excluding Due Diligence,Tax,Other Advisory Services)
Under the Healthcare & Life Sciences industry (by value), Moelis & Company ($3.9 Billion) stood first, followed by Advay Capital ($2.3 Billion). JP Morgan ($2.2 Billion) took the third spot, followed by Jefferies & Co. ($1.6 billion). PwC & JM Financial ($955 million) completed the Top 5. By deal volume, EY (4 deals) topped the table, followed by Veda Corporate Advisors and KPMG (3 deals each). RBSA Advisors, JP Morgan, Transaction Square, o3 Capital, PwC and Moelis & Company took the third spot, advising 2 deals each.
Under the Infrastructure industry (by value), EY ($2.9 Billion) stood first. Citi ($2.5 Billion) took the second spot. PwC ($1.4 billion) took the third spot.
Under the Manufacturing industry (by value), EY ($775 Million) took the top spot, followed by Avendus ($ 750 million). PwC ($248 million) took the third spot. By deal volume, Singhi Advisors (8 deals) topped the table, followed by PwC (6 deals) and Grant Thornton India, EY and KPMG (5 deals each) completed the Top 3.
Including Other Advisory Services
Inclusive of roles in due diligence and related advisory activities, EY again topped the table (by deal value & volume), advising 150 deals worth $36.6 Billion, followed by PwC (with 115 deals across $28.9 Billion). KPMG took the third spot advising $21.6 Billion across 59 deals. Goldman Sachs stood fourth advising 4 deals worth $9.6 Billion and HSBC (1 deal worth $8.5 Billion) completed the Top 5 .
Grant Thornton India (43 deals) and Transaction Square (40 deals) took the fourth and fifth spots by deal volume.
The full league table can be viewed online at https://www.ventureintelligence.com/leagues.php
To showcase your firms' transactions in the 2025 League Tables, contact 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.