Avendus Capital tops M&A deal chart

Investment banking firm Avendus Capital topped the mergers and acquisition (M&A) chart in India by deal counts in the first quarter of calendar 2015, with the firm advising as many as eight deals.

In value terms, the total deal advised by firm stood at $485 million, according to a study by Mergermarket.

The firm advised Ujjivan Financial Services and some of its shareholders on its ₹600-crore fund raising; advised TaxiForSure on its $200-million merger with Ola and ShopClues.com on its $100-million fund raising led by Tiger Global.

During the quarter, the company also advised Tech Mahindra’s on its acquisition of SOFGEN Group, Monarch Catalyst on its sale to Evonik Industries and Freecharge on its $80-million fund raising, said Gaurav Deepak, Managing Director at Avendus Capital. “This leadership position is due to the tremendous work done by team Avendus and strong support of our clients.

We see significant opportunities to grow our franchise and are building our team to continue to deliver outstanding solutions to our clients,” added Deepak.

In 2014, Avendus Capital was the advisor to 31 transactions and helped raise $3.46 billion.

The firm was amongst the top two advisors in India by deal count for calendar 2014.

The company had also hired 20 associates from IIMs as part of its management training programme.

The firm was in the second slot in same quarter of last year, the study – Mergermarket Asia Pacific League table of Financial Advisors – said.

EY ranked second and JM Financial came in third on the number of deals, it added.

However, on value terms Inga Capital topped the charts with one deal of $3,136 million. Greenhill & Co came in second with one deal of $2,500 million, while Citi was third was two deals amounting to $1,453 million.

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