Cyril Amarchand Mangaldas has topped Bloomberg’s first quarter league tables for M&A transactions in India in terms of deal value. AZB & Partners has the highest number of deals for the first quarter of 2016.
Deal Value
With a deal value of $3.03 billion for 5 deals, Cyril Amarchand has a market share of 27.2%. AZB & Partners is second on the list, with 18 deals valued at $1.6 billion (almost half of the deal value of Cyril Amarchand’s 5 deals).
What will be interesting to see is the change, if any, in these numbers in the next quarter. As reported on Bar & Bench, AZB & Partners has recently poached Cyril Amarchand’s star corporate Partner Ashwath Rau. Rau’s addition will undoubtedly boos the firm’s already strong M&A Practice.
J. Sagar Associates is in 6th place, with 5 deals at $720 million. Veritas Legal, set up by ex-AZB Partner Abhijit Joshi last year, is ahead of Khaitan & Co in terms of deal value, with 3 deals at $374 million to Khaitan’s 12 deals at $282 million.
Also featuring on the list are Shardul Amarchand Mangaldas, Economic Laws Practice and Majmudar & Co.
| Rank | Firm | Deal Value (in $ million) | Deal Count |
| 1 | Cyril Amarchand Mangaldas | 3,036 | 5 |
| 2 | AZB & Partners | 1,609 | 18 |
| 3 | De Brauw Blackstone Westbroek NV | 1,179 | 1 |
| 3 | Paul Weiss Rifkind Wharton & Garrison | 1,179 | 1 |
| 3 | Simpson Thacher & Bartlett | 1,179 | 1 |
| 6 | JSA | 720 | 5 |
| 7 | Hughes Hubbard & Reed | 460 | 1 |
| 7 | Kirkland & Ellis | 460 | 1 |
| 9 | Veritas Legal | 374 | 3 |
| 10 | Khaitan & Co | 282 | 12 |
| 11 | White & Case | 268 | 3 |
| 12 | Weil Gotshal & Manges | 200 | 1 |
| 13 | Shearman & Sterling | 200 | 3 |
| 14 | O’Melveny & Myers | 150 | 1 |
| 15 | Shardul Amarchand Mangaldas | 84 | 4 |
Deal Count
AZB’s 18 deals is followed by Khaitan in second, with 12 deals. Cyril Amarchand and JSA are next with 5 deals each, followed by Shardul Amarchand and ELP with 4 each. Veritas Legal has 3, while Majmudar & Co and Trilegal have 2 each.
| Rank | Firm | Deal Value (in $ million) | Deal Count |
| 1 | AZB & Partners | 1609 | 18 |
| 2 | Khaitan & Co | 282 | 12 |
| 3 | Cyril Amarchand Mangaldas | 3036 | 5 |
| 3 | JSA | 720 | 5 |
| 5 | Shardul Amarchand Mangaldas | 84 | 4 |
| 5 | Economic Laws Practice | 66 | 4 |
| 7 | Veritas Legal | 374 | 3 |
| 7 | White & Case | 268 | 3 |
| 7 | Shearman & Sterling | 200 | 3 |
| 10 | Jones Day | 66 | 2 |
| 10 | Majmudar & Co | 14 | 2 |
| 10 | Allen & Overy | – | 2 |
| 10 | Trilegal | – | 2 |
Recently, Cyril Amarchand also topped the Mergermarket league tables for 2016 Q1, while Khaitan had the highest number of deals.