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Vikram Raghani

Partner at JSA Advocates & Solicitors

Lawyer

Deal Bio

Total Deals30

Valued Deals23

Total Value£ 15.72 B

Avg. Deal Size£ 684 M

Market Context

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24 Aug 2020|India|Banks

Target: RBL BANK

Bidder: BPEA EQT

7 Service Providers

2 Target | 5 Bidder

22 Dealmakers

6 Target | 16 Bidder

£ 159 M

Value

12 May 2021|India|Health Care Services

Target: CADILA HEALTHCARE (ZYDUS ANIMAL HEALTH BUSNIESS)

Bidder: MULTIPLES ALTERNATE ASSET MANAGEMENT

7 Service Providers

2 Target | 3 Bidder | 2 Vendor

19 Dealmakers

1 Target | 6 Bidder | 12 Vendor

£ 281 M

Value

10 Aug 2021|India|Medical Supplies

Target: HINDUJA GLOBAL SOLUTIONS (HEALTHCARE SERVICES)

Bidder: BPEA EQT

8 Service Providers

6 Bidder | 2 Vendor

14 Dealmakers

12 Bidder | 2 Vendor

£ 865 M

Value

16 Mar 2022|Hong Kong|Private Equity

Target: BPEA EQT

Bidder: EQT PARTNERS

18 Service Providers

8 Target | 10 Bidder

71 Dealmakers

23 Target | 48 Bidder

£ 5.72 B

Value

26 Mar 2022|India|Food Products

Target: COUNTRY DELIGHT

Bidder: ELEVATION CAPITAL

8 Service Providers

2 Target | 6 Bidder

18 Dealmakers

2 Target | 16 Bidder

£ 52 M

Value

05 May 2022|United States|IT Services: Other

Target: CITIUSTECH

Bidder: BAIN CAPITAL LP

11 Service Providers

4 Target | 3 Bidder | 4 Vendor

19 Dealmakers

2 Target | 11 Bidder | 6 Vendor

n/a

Value

26 Sep 2022|India|Health Care Services

Target: MOLBIO DIAGNOSTICS

Bidder: TEMASEK HOLDINGS LIMITED

3 Service Providers

1 Target | 2 Bidder

12 Dealmakers

2 Target | 10 Bidder

£ 79 M

Value

09 Nov 2022|United States|Information / Data Services

Target: WILCO SOURCE

Bidder: CITIUSTECH

5 Service Providers

2 Target | 3 Bidder

14 Dealmakers

4 Target | 10 Bidder

n/a

Value

15 Sep 2022|India|E-commerce

Target: DOTPE

Bidder: TEMASEK HOLDINGS LIMITED

5 Service Providers

1 Target | 4 Bidder

11 Dealmakers

1 Target | 10 Bidder

£ 50 M

Value

03 Jan 2023|India|FinTech

Target: SARVAGRAM SOLUTIONS PVT LTD

Bidder: ELEVAR EQUITY

3 Service Providers

2 Target | 1 Bidder

5 Dealmakers

1 Target | 4 Bidder

£ 29 M

Value

13 Dec 2022|India|Food Products

Target: DFM FOODS

Bidder: ADVENT INTERNATIONAL

3 Service Providers

1 Target | 2 Bidder

5 Dealmakers

1 Target | 4 Bidder

n/a

Value

08 Apr 2023|India|Health Care Services

Target: MANIPAL HEALTH ENTERPRISES PRIVATE LIMITED

Bidder: TEMASEK HOLDINGS LIMITED

3 Service Providers

1 Target | 2 Bidder

35 Dealmakers

2 Target | 33 Bidder

£ 1.61 B

Value

19 Jun 2023|India|Consumer Lending

Target: HDFC CREDILA

Bidder: CHRYSCAPITAL MANAGEMENT COMPANY

11 Service Providers

1 Target | 7 Bidder | 3 Vendor

44 Dealmakers

2 Target | 33 Bidder | 9 Vendor

£ 857 M

Value

22 Dec 2023|India|Digital Services

Target: INDIUM SOFTWARE

Bidder: EQT PARTNERS

8 Service Providers

3 Target | 4 Bidder | 1 Vendor

20 Dealmakers

3 Target | 15 Bidder | 2 Vendor

n/a

Value

29 Apr 2024|India|Health Care Facilities

Target: MEDICA SYNERGIE

Bidder: MANIPAL HEALTH ENTERPRISES PRIVATE LIMITED

6 Service Providers

5 Bidder | 1 Vendor

19 Dealmakers

14 Bidder | 5 Vendor

£ 133 M

Value

30 May 2024|India|Clothing and Accessories

Target: LIBAS

Bidder: ICICI VENTURES

3 Service Providers

2 Target | 1 Bidder

12 Dealmakers

5 Target | 7 Bidder

£ 14 M

Value

16 Aug 2024|Singapore|Real Estate Services

Target: PROPERTYGURU PTE LTD

Bidder: EQT PARTNERS

13 Service Providers

4 Target | 4 Bidder | 5 Vendor

71 Dealmakers

43 Target | 21 Bidder | 13 Vendor

£ 856 M

Value

09 Sep 2024|United States|Health Care Services

Target: GEBBS HEALTHCARE SOLUTIONS

Bidder: EQT PARTNERS

10 Service Providers

3 Target | 5 Bidder | 2 Vendor

29 Dealmakers

14 Target | 14 Bidder | 1 Vendor

£ 612 M

Value

10 Jul 2024|India|Health Care Facilities

Target: HEMATO ONCOLOGY CLINIC (AHMEDABAD)

Bidder: CELLCURE CANCER CENTRE

1 Service Providers

1 Target

4 Dealmakers

4 Target

n/a

Value

19 Sep 2024|India|Mortgage Finance

Target: INDOSTAR HOME FINANCE

Bidder: EQT PARTNERS

5 Service Providers

2 Target | 2 Bidder | 1 Vendor

32 Dealmakers

1 Target | 30 Bidder | 1 Vendor

£ 158 M

Value

18 Nov 2024|India|Specialty Retailers

Target: HEALTHKART

Bidder: CHRYSCAPITAL MANAGEMENT COMPANY

5 Service Providers

2 Target | 3 Bidder

8 Dealmakers

2 Target | 6 Bidder

£ 121 M

Value

31 Mar 2025|India|Food Products

Target: HALDIRAM SNACKS

Bidder: TEMASEK HOLDINGS LIMITED

6 Service Providers

2 Target | 4 Bidder

101 Dealmakers

51 Target | 51 Bidder

£ 767 M

Value

25 Feb 2025|India|Pharmaceuticals

Target: MEGAFINE PHARMA

Bidder: MOTILAL OSWAL FINANCIAL SERVICES LIMITED

1 Service Providers

1 Target

4 Dealmakers

5 Target

£ 41 M

Value

17 Apr 2025|India|Banks

Target: IDFC FIRST BANK

Bidder: WARBURG PINCUS LLC

5 Service Providers

2 Target | 3 Bidder

22 Dealmakers

14 Target | 8 Bidder

£ 660 M

Value

09 May 2025|India|Banks

Target: YES BANK LIMITED

Bidder: SUMITOMO MITSUI BANKING CORPORATION (SMBC)

6 Service Providers

3 Target | 2 Bidder | 1 Vendor

40 Dealmakers

7 Target | 22 Bidder | 11 Vendor

£ 1.19 B

Value

10 Mar 2025|India|Pharmaceuticals

Target: CHEMFIELD CELLULOSE

Bidder: OJI HOLDINGS CORPORATION

4 Service Providers

3 Target | 1 Bidder

10 Dealmakers

9 Target | 1 Bidder

n/a

Value

17 Jul 2025|India|Food Products

Target: THEOBROMA FOODS

Bidder: CHRYSCAPITAL MANAGEMENT COMPANY

4 Service Providers

2 Target | 1 Bidder | 1 Vendor

14 Dealmakers

11 Target | 2 Bidder | 1 Vendor

£ 209 M

Value

19 May 2025|United States|Health Care Services

Target: AGS HEALTH LLC

Bidder: BLACKSTONE GROUP INC

7 Service Providers

2 Target | 4 Bidder | 1 Vendor

32 Dealmakers

9 Target | 23 Bidder | 1 Vendor

£ 1.01 B

Value

17 Sep 2025|India|Banks

Target: YES BANK LIMITED

Bidder: SUMITOMO MITSUI BANKING CORPORATION (SMBC)

5 Service Providers

1 Target | 3 Bidder | 1 Vendor

14 Dealmakers

1 Target | 12 Bidder | 1 Vendor

£ 237 M

Value

05 Nov 2025|United States|Software

Target: PTC (KEPWARE AND THINGWORX BUSINESSES)

Bidder: TPG CAPITAL LP

9 Service Providers

5 Bidder | 4 Vendor

20 Dealmakers

17 Bidder | 3 Vendor

n/a

Value