AZB & Partners overtook Khaitan & Co, and the split firms of Amarchand Mangaldas, on data provider Mergermarket’s M&A leader board this year, where the combined deal value of the Amarchand Mangaldas firms would have led the value rankings by a margin of $4bn.
AZB & Partners overtook Khaitan & Co since the first half of 2015 rankings and the split firms of Amarchand Mangaldas, on data provider mergermarket’s preliminary M&A leader board this year.
However, the combined deal value of the split Amarchand Mangaldas firms would have led the value rankings by a margin of $4bn (though some transactions saw both Cyril Amarchand Mangaldas and Shardul Amarchand Mangaldas advising on opposite sides, which would result in a double count in such a theoretical aggregate).
At the end of 2014, Amarchand Mangaldas had topped the rankings with $14bn of M&A deals, which was double AZB & Partners’ total and nearly three times that of Luthra & Luthra.
AZB’s $10.45bn from 73 deals, was the only double digit billion dollar deal value figure so far in the preliminary rankings for 2015. AZB also acted on the most number of M&As this year. The current rankings will be revised for data obtained after 15 December.
Khaitan advised on 50 transactions worth $7.39bn. Of the 50, the firm had acted on 22 deals worth $4.8bn by July 2015 and had come out at the top of the half-yearly rankings.
Khaitan was followed by Cyril Amarchand Mangaldas, erstwhile Amarchand Mangaldas, J Sagar Associates (JSA) and Luthra & Luthra.
Shardul Amarchand Mangaldas, which is eight ranks behind Cyril Amarchand Mangaldas, aggregated less than half of CAM’s $5.14bn deal value. SAM did 20 M&As this year while CAM acted on 30.
S&R Associates, which is one rank above SAM, and Trilegal and Nishith Desai Associates are the other domestic firms among the top 15 M&A firms.
The rankings are a preview of mergermarket’s final year rankings and remain subject to change.
Preliminary rankings: By value 1 January 2015 – 15 December
| 2015 | 2014 | Firm | Value (US$m) | No of Deals |
|---|---|---|---|---|
| 1 | 2 | AZB & Partners | 10,452 | 73 |
| 2 | 8 | Khaitan & Co | 7,389 | 50 |
| 3 | - | Cyril Amarchand Mangaldas | 5,141 | 30 |
| 4 | 1 | Amarchand Mangaldas (Former) | 4,776 | 21 |
| 5 | 17 | J Sagar Associates | 3,805 | 35 |
| 6 | 4 | Luthra & Luthra | 3,167 | 15 |
| 7 | 3 | Davis Polk & Wardwell | 2,738 | 2 |
| 8 | 20 | Clifford Chance | 2,568 | 3 |
| 9 | 14 | Sullivan & Cromwell | 2,308 | 2 |
| 10 | 5 | S&R Associates | 2,284 | 9 |
| 11 | - | Shardul Amarchand Mangaldas | 2,280 | 20 |
| 12 | 34 | Linklaters | 2,208 | 7 |
| 13 | 19 | Trilegal | 1,775 | 25 |
| 14 | 30 | Nishith Desai Associates | 1,541 | 14 |
| 15 | 67 | Simpson Thacher & Bartlett | 1,488 | 6 |
Prelminary rankings: By volume 1 January 2015 – 15 December
| 2015 | 2014 | Firm | Value (US$m) | No of Deals |
|---|---|---|---|---|
| 1 | 1 | AZB & Partners | 10,452 | 73 |
| 2 | 5 | Khaitan & Co | 7,389 | 50 |
| 3 | 3 | J Sagar Associates | 3,805 | 35 |
| 4 | - | Cyril Amarchand Mangaldas | 5,141 | 30 |
| 5 | 6 | Trilegal | 1,775 | 25 |
| 6 | 4 | Desai & Diwanji | 742 | 24 |
| 7 | 2 | Amarchand Mangaldas (Former) | 4,776 | 21 |
| 8 | - | Shardul Amarchand Mangaldas | 2,280 | 20 |
| 9 | 15 | BMR Legal | 1,191 | 17 |
| 10 | 7 | Luthra & Luthra | 3,167 | 15 |
| 11 | 13 | Nishith Desai Associates | 1,541 | 14 |
| 12 | 9 | P. H. Bathiya & Associates | 1,037 | 14 |
| 13 | 19 | IndusLaw | 1,438 | 12 |
| 14 | 25 | HSA Advocates | 30 | 10 |
| 15 | 21 | S&R Associates | 2,284 | 9 |
Source: mergermarket
Comments
Is this because home grown talent are being sidelined for outside partners?
Even after shuva mandal left, AZB is still the best. Why hasn't there being no transaction reported for Shuva? Is he just a namesake M&A head? Isn't Raghubir Menon more competent to be the M&A head? Just asking
Politics that existed has disappeared after your leaving.
Give it another six months.
Let's see who is where.
Jo jeeta woh hee sikandar!
No space left for baba log!
If you see the legal market - MNCs are going to AZB, Khaitan, CAM, JSA or SAM.
Even for that matter, Luthra isn't doing great capital market. It's either CAM, Khaitan, S&R, SAM or JSA.
I think Luthra has been replaced by Khaitan in both these practice area.