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October 16, 2017

SBI - GE cards deal propels Morgan Stanley to Top 3 in M&A Chart

Carlyle's July buyout of GE Capital's stake in its cards processing JV catapulted Morgan Stanley into second position of the Venture Intelligence M&A League Table for 2017.

Other large deals during the July-September quarter included the Edelweiss Financial Services and IMAP India advised INR 800 Cr investment by Wilmar International into Shree Renuka Sugars. Axis Capital advised the Axis Bank - Freecharge acquisition and the strategic investment by Reliance Industries into Balaji Telefilms.

The Venture Intelligence League Tables, the first such initiative exclusively tracking transactions involving India-based companies, are based on value of PE and M&A transactions advised by Transaction and Legal Advisory firms.

The advisors to the $12.4 Billion Vodafone - Idea Cellular merger announced in March - Axis Capital, Morgan Stanley, Kotak, Robey Warshaw and Rothschild - continued to account for the top 5 spots during the first nine months of 2017.

By number of deals, Ernst & Young topped the table with 10 deals followed by Axis Capital, Avendus, Ambit Corporate Finance and KPMG advising 5 deals each. Deloitte came in at third with 4 deals.

Including Due Diligence services, Ernst & Young topped the table with deals worth $28.9 B followed by Deloitte ($12.8 B) and Axis Capital ($12.8 B). By no. of deals, Ernst & Young topped the table with 25 deals followed by KPMG (10 deals) and Deloitte (7 deals).

The full league table can be viewed online at

To update your firm's standings in the League Tables for October 2017, reach out to Varatha at

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.