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Published on: 6 Feb 2026
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AZB & Partners tops League Table for Legal Advisors to Private Equity deals in 2025 |
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Cyril Amarchand Mangaldas and Khaitan & Co. claim the No.2 &
No.3 slots
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AZB & Partners (AZB) topped the Venture Intelligence League
Table for Legal Advisor to Private Equity Transactions in 2025
advising 50 deals worth $9.93 Billion. It was followed by Cyril
Amarchand Mangaldas ($9.89 Billion across 106 deals) and Khaitan
& Co. ($7.15 Billion across 98 deals) in the second and third
spot respectively. Shardul Amarchand Mangaldas ($6.85 Billion across
82 deals) and Trilegal ($6.07 Billion across 71 deals) completed the
top five.
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The Venture
Intelligence League Tables , the first such
initiative exclusively tracking transactions involving India-based
companies, are based on the value of PE and M&A transactions
advised by Financial and Legal Advisory firms.
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Click
Here for the
full details.
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Hero MotoCorp to invest Rs.275-Cr more in electric 3-wheeler maker Euler Motors |
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Motorcycle and scooter maker Hero MotoCorp has invested an
additional INR 275 crore in Delhi-based Euler
Motors , a
company which makes electric three-wheelers, in a mix of primary and
secondary investment.
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The primary investment would be made by HMCL in Series E Compulsory
Convertible Preference Shares, pursuant to which HMCL's stake would
be approximately 36% on a fully diluted basis.
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Launched in 2018 by Saurav Kumar, Euler's flagship model, the
HiLoad EV, is claimed to be the most powerful electric cargo
three-wheeler, offering a range of 170 kms.
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From the Venture Intelligence Deals Database: Between Jan 2019 and Mar 2025, Euler Motors had attracted about USD 228 M from Blume Ventures, Ev2 Ventures, Athera Venture Partners, Jetty Ventures, ADB, Alteria Capital, QRG, GIC, British International Investment, Climate Angels Fund, Green Frontier Capital, Stride Ventures, Trifecta Capital, InnoVen Capital, Piramal Enterprises, responsAbility, Hero Motocorp and others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.) |
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From the Venture Intelligence Private Company Financials Database: For FY25, Euler Motors had reported about INR 191 Cr in Operating Income and about INR 200 Cr in Net Loss. (Subscribers to the database can login to view the detailed financials.) |
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Optical fibre tools maker Digital Striker raises $1-M from Foxhog Ventures |
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New Delhi-based Digital
Striker has
raised USD 1 million (about INR 8.5 crore) in a funding round from
Foxhog Ventures, a USA-based venture capital firm.
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Founded in 2021 by Priyanka Ojha
, Digital
Striker operates in the optical fibre tools and equipment segment,
supplying products such as fibre strippers, cleavers, visual fault
locators, power meters, and splicing machines.
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About INR 5-6 crore from the funding will be used to set up a
manufacturing facility, hire talent, and establish offices in major
metro cities. The remaining capital will be used to continue imports
while local manufacturing is scaled up.
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Perfumes brand EM5 raises funding from cricketer Suryakumar Yadav |
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Indore-based D2C (direct-to-consumer) fragrance brand EM5 has raised an investment
from Indian cricketer Suryakumar Yadav.
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Founded in 2022 by Shashank Chourey, EM5 sells products including
perfumes, roll-ons, foot sprays, scented candles, and beard balms
through its website, online marketplaces, and quick commerce
platforms. It is also exploring partnerships with boutique
perfumeries and looking to launch exclusive collections.
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EM5 reported a revenue of INR 7.08 crore in FY24, an increase from
INR 1.43 crore in the previous fiscal year.
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Digital entertainment co. JetSynthesys acquires 'merge puzzle' game from Big Fish Games |
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Pune-based digital entertainment and technology company JetSynthesys
has acquired EverMerge, a merge puzzle game, from USA-based Big Fish
Games, a subsidiary of Aristocrat Leisure. The company plans to
retain much of the existing EverMerge team while integrating Indian
talent across functions such as engineering to support margin
expansion and localisation for emerging markets.
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(A merge puzzle is a casual puzzle game genre where players combine
identical items-like numbers, blocks, tiles, or objects-on a limited
board to create upgraded versions, often doubling values.)
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EverMerge, launched five years ago, has generated over USD 350
million in lifetime revenue and ranks among the top 100
highest-grossing mobile games. JetSynthesys intends to scale the
franchise across high-growth markets, including India, by leveraging
its capabilities in community building, brand partnerships, and
data-driven user acquisition.
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UK's BII commits Rs.90-Cr to UC Impower Fund |
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Economic Times Print Edition
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British International Investment (BII) is to invest INR 90 crore in
UC Impower, making it the largest contributor to the INR 500 crore
India-focused early-growth stage equity fund. The fund aims to
invest in financial services and climate solution firms.
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The Michael & Susan Dell Foundation, Sorenson Impact Foundation,
Caspian Impact Investment Adviser and the LifeBank Microfinance
Foundation are among the investors who had invested in UC Impower,
incubated by Unitus Capital in 2023.
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Sebi proposes easing of norms for winding up of AIFs |
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The Securities and Exchange Board of India (Sebi) has proposed
easing norms governing the winding up of alternative investment fund
(AIF) schemes and surrender of registrations, including allowing
funds to retain a portion of liquidation proceeds beyond their
permissible fund life under specified conditions.
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Under the current framework, AIF schemes are required to liquidate
assets and distribute all proceeds to investors within one year of
expiry of scheme tenure, after settling liabilities.
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The regulator has proposed permitting AIF schemes to retain funds
beyond the permissible fund life where monies are held back due to
ongoing litigation or tax demands, subject to the fund demonstrating
receipt of a formal notice from tax authorities, regulators or law
enforcement agencies. In cases where funds are retained for
anticipated liabilities, Sebi has proposed that such retention be
allowed only with the consent of at least 75 per cent of investors
by value.
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Blackstone appoints Axis Capital, BoA and HSBC as bankers for Piramal Glass IPO |
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Blackstone has appointed Axis Capital, Bank of America and HSBC as
lead bankers for the proposed initial public offering of
Mumbai-headquartered PGP
Glass , formerly
Piramal Glass.
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PGP Glass, which is fully owned by Blackstone, is expected to raise
about USD 400 million to USD 500 million through the public listing.
It was reported last month that Blackstone was considering an IPO at
a valuation of around USD 4 Billion.
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Blackstone acquired Piramal Glass from the Ajay Piramal family in
2020 at a valuation of about USD 800 million. The transaction was
advised by Axis Capital and Bank of America.
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PGP Glass is a global specialist in design, production, and
decoration of glass packaging, providing glass packaging solutions
for customers in the Cosmetics & Perfumery, Food & Specialty
Spirits, and Pharmaceuticals industries.
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From the Venture Intelligence Deals Database: In Dec 2020, Piramal Glass had attracted about USD 1,000 M from Blackstone. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.) |
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From the Venture Intelligence Private Company Financials Database: For FY24, Piramal Glass had reported about INR 188 Cr in Operating Income and about INR 2,427 Cr in Net Loss. (Subscribers to the database can login to view the detailed financials.) |
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Cooperative-led ride-hailing platform Bharat Taxi launched; pan-India rollout in 3 yrs |
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Agri-tech co. StarAgri launches warehousing platform Stocyard for non-agri commodities in UAE |
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Norms for deep-tech startups revised; benefits to continue for 20 yrs |
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SC orders NBCC to complete Supertech housing projects, protecting homebuyers |
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NCLT admits class action by minority shareholders against Jindal Poly Films |
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NCLT recalls insolvency case against Alchemist Group after ED's intervention |
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Fashion e-commerce co. Myntra to move Gurugram ops to Bengaluru HQ, axe catalogue jobs |
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