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Ashraya Rao

Ashraya Rao

, Mumbai

Partner | Corporate and Commercial, Mergers and Acquisitions, Private Equity, Financial Services


  • B.B.A. LL.B., Symbiosis International University, Pune (2010) (Distinction)

Ashraya Rao is a Partner in the Corporate, M&A and Private Equity Practice Group in the Mumbai office. Ashraya is dual-qualified in India (Advocate) and England & Wales (Solicitor of Senior Courts).

Ashraya has advised several clients on private and public M&As, cross border M&As, private equity, corporate restructurings, insolvency M&A, strategic alliances/JVs and general corporate advisory.

Ashraya has been recognised as a ‘Notable Practitioner for M&A’ by IFLR (consistently from 2018 to 2024), ‘Recommended for M&A’ by RSG (India Report 2019) and Legal500 (2023 and 2024).

Ashraya has also worked with Slaughter and May, London as a ‘visiting lawyer’ from September 2015 to March 2016, where he was involved in cross-border M&A and private equity transactions. 

Professional Affiliations

  • Bar Council of Maharashtra & Goa, India
  • Law Society of England & Wales (Solicitor of Senior Courts)

Recognition and Accomplishments

Ashraya has been acknowledged for his experience and expertise by:

•    RSG as ‘Recommended for M&A’ (2019)
•    IFLR 1000 as a Notable Practitioner for M&A (consistently from 2018 to 2024)
•    Legal500 as ‘Key lawyer for M&A’ (2023 and 2024)

Representative Matters

Ashraya Rao has represented and advised the following clients

Inox Leisure Ltd and its promotors

Advised on the proposed merger with PVR Ltd

Mahindra & Mahindra Ltd

Advised on the minority investments by IFC and India-Japan Fund (managed by NIIF) in Mahindra Last Mile Mobility Limited

Tata Motors Group

Advised Tata Motors on the INR 7,500 Cr investment by TPG Rise Climate in Tata Passenger Electric Mobility

RPSG Ventures Limited & RP-Sanjiv Goenka Group

Advised on its successful bid for new Indian Premier League Franchise of Lucknow (Lucknow Super Giants) and new South Africa 20 Franchise of Durban (Durban Super Giants)

Blackstone Group

Advised Blackstone Group on its acquisition of controlling stake in Simplilearn Solutions Pvt Ltd


Advised on acquisition of 100% stake in Aquapharm Chemicals Pvt Ltd

Porus Laboratories Private Limited 

Advised Porus Laboratories Private Limited and its promoters on their divestment of a controlling stake to Bain Capital Private Equity

Goldman Sachs Asset Management

Advised Goldman Sachs Asset Management on its minority investment in MoEngage Inc

Poonawalla group

Advised on sale of its entire stake in Poonawalla Housing Finance to TPG Capital consortium

EdgeConneX, Inc and EQT

Advised EdgeConneX, Inc and EQT on EdgeConneX’s joint venture with Adani Enterprises Limited for data centers in India

Saregama Ltd

Advised on its acquisition of controlling stake in Pocket Aces Private Limited

PerkinElmer, Inc (now, Revvity)

Advised PerkinElmer, Inc (now, Revvity) and its India affiliates on the sale of its AES Business assets to New Mountain Capital

Apis Partners

Advised Apis Partners on its minority investments in D2C Consulting Services Pvt Ltd (RenewBuy) and Whizdm Innovations Private Limited (Moneyview)



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