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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It is only 8 major deals and US $4.6 billion adrift from AMSS.
Great going KCO. Soon to be the best in the business
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ROTFL
"What the caterpillar calls the end of the world, the Master calls the butterfly."
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