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Dealogic Q1 infra league table: Amarchand projects promise with $4.9bn, as Luthra back in 2nd

Projects figures spike
Projects figures spike
Amarchand Mangaldas continued doing the most project finance deals this quarter (Q1), according to data provider Dealogic’s 2013 project finance rankings, but Link Legal – which topped the 2012 half-year charts and pushed Luthra & Luthra off second rung in the 2012 yearly rankings, slipped to number six in 2013’s Q1.

Amarchand has already closed 11 deals worth over Rs 26,744 crore ($4,923m) this year, which is almost half the deal volume and more than half the deal size clocked by the firm at the end of 2012.

Luthra & Luthra follows Amarchand with its four projects worth $3,052m, already almost equalling the $3,832 from 11 projects it had tallied in the rankings at the end of 2012.

Link Legal, which displaced Luthra & Luthra off second place in 2012’s yearly rankings, has so far reported projects worth less than 14 per cent of Luthra’s deal sizes, docketing $427m from two projects.

Link Legal had topped Dealogic’s 2012 half-year rankings and had then gone on to merge with projects boutique India Law Services in December.

Khaitan & Co made an appearance for the first time after 2010 end-of-year rankings, in seventh place with three projects worth $278m. When last seen, the firm had also reported three projects, worth $1.1bn.

The 10 front runners this quarter together added up $12.6bn from 29 projects, which is behind Q1 2011’s $20,086 off 28 projects, but closer to 2012’s slumped half-yearly benchmark of $20.0bn from 70 projects.

2012 saw the first year-on-year decline in 10 years, with 10 Indian front runners.

Legal Adviser of India Project Finance Deals – 1Q 2013

Pos. Legal Adviser Amount($m.) No. %share
1 Amarchand & Mangaldas & Suresh A Shroff & Co 4,923 11 40.0
2 Luthra & Luthra 3,052 4 24.8
3 SJ Law Advocates & Solicitors (India) 1,378 4 11.2
4 Khaitan Sud & Partners 1,217 4 9.9
5 Reed Smith LLP 770 1 6.3
6 Link Legal 427 2 3.5
7 Khaitan & Co 278 3 2.3
8 Clasis Law 193 2 1.6
9 J Sagar Associates 32 1 0.3
10 Trilegal 26 1 0.2
  Total 12,314 27 100.0

Source: Dealogic

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