Among the leading and prominent law firms in India, AZB & Partners advised 120 private equity (PE) deals worth $25.6 billion between January and September 2021, topping the Venture Intelligence League Table for legal advisors to private equity transactions, reveals a recent release by Venture Intelligence.
Cyril Amarchand Mangaldas (CAM) with 100 deals worth $19.9 billion was second, followed by Shardul Amarchand Mangaldas (SAM) at $15.3 billion from 40 deals, Trilegal at $14.2 billion with 35 deals and Khaitan & Co. at $10.7 billion across 78 deals rounded off the top five.
“Among the largest deals in the latest quarter, CAM and SAM advised Walmart-owned Flipkart’s $3.6 billion funding round led by GIC, CPPIB, and SoftBank,” the VI release pointed out. “SAM advised Carlyle Group’s $3 billion acquisition of IT services firm Hexaware Technologies (via purchase of shares held by Baring Private Equity Asia). AZB, SAM, and Trilegal acted as advisors to the complete exit by PE-VC investors in Billdesk (via the digital payments provider’s acquisition by Prosus-Ventures-backed PayU).”
In terms of deals in volume, IndusLaw topped the list advising 146 deals in the first nine months of 2021, followed by AZB (120), Burgeon Law (119), CAM (100) and Khaitan & Co. (78).
The release also gives industry-wise classification: in the IT & ITeS industry, SAM ranked at the top in PE transactions by value at $12.2 billion, followed by AZB ($11.3 billion), CAM ($9.9 billion), IndusLaw ($5.6 billion) and Khaitan & Co. ($5.58 Billion).
Under BFSI, CAM topped the table advising deals worth $6.4 billion, followed by Trilegal ($6.2 billion), AZB ($6.1 billion), S&R Associates ($557 million) and Khaitan & Co. ($448 million). Whereas in the Energy industry, AZB stood first with deals worth $1.6 billion, followed by CAM ($1.1 billion), Khaitan & Co. ($1 billion) and Trilegal ($690 million).
The “League Tables” by Venture Intelligence is claimed to be the “first such initiative exclusively tracking transactions involving India-based companies advised by Transaction and Legal Advisory firms during a calendar year.”
The data are compiled based on information and transaction details submitted by the advisory firms.
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