What AZB & Partners does

AZB & Partners is one of India's three largest full-service corporate law firms, founded in 2004 with 12 lawyers and now operating with over 700 lawyers across its Mumbai headquarters and Delhi office. The firm delivers legal advisory services through 18 practice areas — including Corporate/M&A, Capital Markets, Banking & Finance, Competition/Antitrust, Dispute Resolution, Regulatory & Securities, and Data Privacy & Protection — and 11 sector specializations spanning pharmaceuticals, energy, infrastructure, technology/media/telecoms, fintech, defence, and aviation, among others. Revenue is generated through professional services fees on complex transactions, retainers, and hourly billing for large Indian and multinational corporate clients, financial institutions, and government entities.

The firm's go-to-market is relationship-driven and senior-partner-led: mandates are sourced and managed through direct engagement with C-suite executives, general counsels, and boards, supplemented by thought-leadership channels including the firm's website, the 'Cut to the Chase' podcast, client alerts, and earned media coverage of landmark deals. There is no proprietary technology platform disclosed; service delivery relies on the expertise and reputation of the partnership, with technology limited to standard legal practice management tools. The firm has consistently ranked in the top tier of Chambers, IFLR1000, Legal 500, Asialaw, and India Business Law Journal, and in H1 2026 topped the Asia-Pacific M&A legal advisers league table by deal value at USD 18.7 billion, up from sixth position.

Notable mandates include representing Sun Pharmaceutical Industries in its proposed USD 11.75 billion all-cash acquisition of Organon & Co., advising book-running lead managers on the Vodafone Idea INR 180 billion follow-on public offering (the largest FPO by an Indian company), representing Deutsche Bank in the sale of its India private bank and wealth management business to Kotak Mahindra Bank, advising on the Stonepeak USD 10.1 billion acquisition of Castrol, and acting for the Government of India on equity divestitures in NLC India and NHPC. Ownership is held by the founding and managing partners — Zia J. Mody, Ajay Bahl, and Bahram N. Vakil — with no external investors, parent entity, or private equity backing identified in the source material.

Name

AZB & Partners

Legal name

AZB & Partners

Website

https://azbpartners.com

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Founded in 2004, AZB & Partners is one of India's top full-service corporate law firms with 700+ lawyers in Mumbai and Delhi. It advises large enterprises on M&A, capital markets, banking, and regulatory matters, and ranked #1 Asia-Pacific M&A legal adviser for H1 2026.

Ownership category

akta.pro rank

Product category

Legal Services

NAICS

Legal Services (5411), Offices of Lawyers (541110)

SIC

Services-Legal Services (8111)

akta.pro primary industry

Mergers & Acquisitions (M&A) & Securities Law (BPAHAAAI)

akta.pro secondary industries

M&A Advisory (Buy-side/Sell-side) (BPAHADAC), Cross-Border M&A Advisory (FSAEAGAH), Industry-Specialist / Sector-Focused M&A Advisory (FSAEAGAJ)

Keywords

• Corporate legal advisory
• Mergers and acquisitions
• Capital markets advisory
• Banking and finance law
• Dispute resolution services

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Legal Advisory Services: AZB & Partners generates revenue through providing legal advisory services across multiple practice areas including M&A, capital markets, banking & finance, dispute resolution, and regulatory matters. Revenue is derived from transaction fees, retainer arrangements, and hourly billing for corporate clients.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

AZB & Partners is a premier full-service law firm in India providing legal advisory services across 18 practice areas and 11 sector specializations. The firm delivers end-to-end legal counsel on complex corporate transactions including M&A, capital markets, banking and finance, competition/antitrust, dispute resolution, regulatory matters, and tax, serving large Indian corporations, multinationals, financial institutions, and government entities.

Product overview

AZB & Partners is a full-service law firm in India that provides legal advisory services across multiple practice areas and sectors. The firm does not offer traditional software products; instead, it delivers legal expertise through its practice group structure. Practice areas include Banking & Finance, Capital Markets, Competition/Antitrust, Corporate/M&A, Data Privacy & Protection, Dispute Resolution, Employment/Labour & Benefits, Financial Services, Funds, Intellectual Property, Private Client Practice, Private Equity & Venture Capital, Regulatory & Securities, Restructuring & Insolvency, Start-Ups & Emerging Companies, and Tax. The firm also operates across sector specializations including Aviation, Defence, E-Commerce & Retail, Energy, FinTech & Digital, Infrastructure, Insurance, Microfinance, Pharmaceuticals/Healthcare & Life Sciences, Real Estate, and Technology, Media & Telecommunications. The firm has grown from 12 lawyers to over 700, and its services are delivered through named practice groups rather than a software platform architecture.

Differentiator

Problem solved

Functional benefit

Products and services

• Banking & Finance

Quantifiable outcome

• Ranked #1 in Asia-Pacific M&A legal advisers by value ($18.7 billion) in H1 2026, up from sixth position
• +1 more outcomes

Named customers12 records

Segments4 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and minor.

• Jio PlatformscoreOthers · 13 May 2026Zia Mody, co-founder and managing partner of AZB & Partners, was appointed as an independent director on Jio Platforms' board. This appointment strengthens Jio Platforms' board ahead of its planned IPO, with the company valued by bankers at $200-240 billion.
• Khaitan & CominorStrategic or Co-development Partner · 12 March 2026AZB & Partners advised on Indian law aspects alongside Khaitan & Co for Stonepeak's $10.1 billion acquisition of Castrol's global lubricants business from BP. International firms including Simpson Thacher, DLA Piper, Paul Weiss, Latham & Watkins, and Freshfields also advised on the transaction.
• Vertex VenturesminorStrategic or Co-development Partner · 2 March 2026AZB & Partners represented Vertex Ventures in Wishlink's INR 1.57 billion (USD 17.44 million) Series B fundraise. JSA advised Wishlink and its founders while Samvad Partners represented Elevation Capital and Fundamentum Partnership.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Linklaters (India): Global magic-circle law firm with a strong India cross-border M&A and capital markets practice; competes with AZB on the international aspects of major Indian deals.
• Clifford Chance (India): Global law firm with established India practice handling cross-border M&A and capital markets; competes with AZB for the same enterprise and financial institution mandates involving Indian law.

Direct peers

• S&R Associates: Boutique Indian corporate law firm with strong M&A and capital markets practices serving institutional clients; competes with AZB on mid-to-large-cap transactions.
• Shardul Amarchand Mangaldas & Co. One of India's top corporate law firms with comparable M&A, capital markets, and banking & finance practices serving enterprise and government clients; competes with AZB on most major Indian mandates.
• Cyril Amarchand Mangaldas: India's largest full-service corporate law firm with a comparable M&A, capital markets, and dispute resolution practice; AZB recently poached 5 partners from this firm, making it the most direct head-to-head competitor in the Indian corporate legal market.
• IndusLaw: Full-service Indian law firm with a comparable M&A and corporate advisory practice; competes with AZB for technology, startup, and enterprise mandates.
• Khaitan & Co. Large full-service Indian law firm with strong M&A and capital markets practices; collaborated with AZB on the Stonepeak/Castrol deal and competes for similar enterprise mandates in India.
• Economic Laws Practice (ELP): Indian law firm specializing in M&A, taxation, and regulatory work with strong sector expertise; competes with AZB on M&A and regulatory mandates.
• Trilegal: Major Indian corporate law firm with a comparable M&A and private equity practice serving enterprise clients; one of the consistently top-ranked firms competing with AZB for institutional mandates.
• JSA (J. Sagar Associates): Full-service Indian law firm advising Wishlink in a deal where AZB represented Vertex Ventures; competes directly with AZB on M&A, capital markets, and corporate advisory mandates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/azb-partners

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AZB & Partners