AZB & Partners and Trilegal claim the No.2&3 slots
Cyril Amarchand Mangaldas topped the Venture Intelligence League Table for Legal Advisors to Private Equity and M&A deals in the first half of 2026, advising 58 deals worth $15.5 Billion. AZB & Partners stood second, having advised 41 deals worth $14 Billion. Trilegal followed with 81 deals worth $11 Billion. Khaitan & Co. (80 deal worth $10.4 Billion) and Talwar Thakore & Associates ($5.3 Billion across 12 deals) completed the top five.
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Biggest Transactions
AZB & Partners, Cyril Amarchand Mangaldas, Linklaters, Sullivan & Cromwell, Talwar Thakore & Associates, and White & Case. advised publicly listed Sun Pharma on its $3.9 Billion acquisition of NYSE-listed pharmaceutical company Organon.
AZB & Partners also advised Bharti Airtel’s $2.6 Billion deal to increase its stake in the London-listed Airtel Africa (from 62.7% to 79%).
AZB & Partners, Touchstone Partners, Cyril Amarchand Mangaldas, and Khaitan & Co., advised $1.7 Billion acquisition of Indian premier league team Royal Challengers Bengaluru by global PE firm Blackstone along with other investors.
Trilegal and Cyril Amarchand Mangaldas advised $1.65 Billion acquisition of Indian premier league team Rajasthan Royals and their sister entity by Lakshmi Mittal, Aditya Mittal and Adar Poonawala.
Khaitan & Co. advised $1.6 Billion acquisition of toll road company Safeway Concessions by VINCI Highways.
By Deal Volume
Trilegal topped the tables in terms of deal volume advising 81 deals during H1 ‘2026. It was followed by Khaitan & Co. with 80 deals. Cyril Amarchand Mangaldas took the third spot, advising 58 deals each. AZB & Partners and J Sagar Associates took the fourth spot advising 41 deals. IC RegFin Legal completed the top 5, advising 37 deals each.
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By Industry
Under Healthcare & Life Sciences (HLS), which emerged as the top industry in H1’26 (by value), AZB & Partners ($4.5 Billion) took the first spot. It was followed by Cyril Amarchand Mangaldas ($4.2 Billion). Linklaters, Talwar Thakore & Associates, Sullivan & Cromwell, and White & Case ($3.9 Billion) took the third spot by advising the Sun Pharma – Organon deal. By deal volume, Trilegal. topped the HLS table advising 13 deals. Khaitan & Co. came next advising 11 deals. AZB & Partners took the third spot advising 7 deals each.
Under IT & ITES industry (by value), Trilegal stopped the table with $3.8 Billion, followed by AZB & Partners with deals worth $2.5 Billion. Khaitan & Co. took the third spot advising deals worth $2 Billion. By deal volume, IC RegFin Legal stood first advising 41 deals during H1’26. Khaitan & Co. came next advising 29 deals each. Goyel & Goyal with 28 deals took the third spot.
Under the Manufacturing industry (by value), Cyril Amarchand Mangaldas. took the first spot advising deals worth $3.3 Billion. AZB & Partners, Touchstone Partners and Khaitan & Co. followed next with $1.7 Billion. Trilegal took the third spot advising deals worth $1.6 Billion. By deal volume, Trilegal and Cyril Amarchand Mangaldas. topped the Manufacturing table, advising 2 deals.
Private Equity Deals
Cyril Amarchand Mangaldas topped the Venture Intelligence League Table for Legal Advisor to Private Equity Transactions in H1’2026, advising 30 deals worth $4.2 Billion. Trilegal stood second, having advised 43 deals worth $2.6 Billion. Khaitan & Co. followed with 42 deals worth $1.9 Billion. AZB & Partners ($1.7 Billion across 19 deals) and Shardul Amarchand Mangaldas ($1.5 Billion across 26 deals) completed the top five.
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M&A
AZB & Partners topped the Venture Intelligence League Table for Legal Advisor to M&A Transactions in H1’2026, advising 22 deals worth $12.2 Billion. Cyril Amarchand Mangaldas stood second, having advised 28 deals worth $11.3 Billion. Khaitan & Co. followed with 38 deals worth $8.4 Billion. Trilegal ($8.3 Billion across 38 deals) and Talwar Thakore & Associates ($4.9 Billion across 4 deals) completed the top five.
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To showcase your firms’ transactions in the 2026 League Tables, contact Vanathi at [email protected].
Venture Intelligence is India’s longest-serving provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital, and M&A) & their Valuations in India.
