A valuation is only as good as its defensibility. We produce independent valuations for transactions, ESOP schemes, regulatory filings, and shareholder actions — built on documented methodology, comparable analysis, and assumptions a diligence room can interrogate without finding holes. Every report is written for the reader who wants to challenge it.
A business valuation is an independent estimate of what a company — or its equity, or a specific block of shares — is worth, at a specific date, for a specific purpose. The purpose matters enormously: the value for a fundraise negotiation, for an ESOP grant, for a tax filing, and for a shareholder dispute are computed under different standards, and sometimes legitimately arrive at different numbers.
What makes a valuation "independent" is not just who signs it. It is whether the methodology would survive hostile review — a buyer's advisor trying to chip the price, a tax officer questioning the basis, an auditor refusing to accept the inputs. Most valuation disputes are not about arithmetic; they are about assumptions nobody documented and comparables nobody justified. We build every report backwards from that scrutiny.
You need an independent valuation when someone else's money or the regulator's opinion depends on the number. Raising equity — the term sheet negotiation goes better with a methodology the other side's advisors can verify than with a founder's aspiration. Granting ESOPs — options must be priced at fair value, and the number has to satisfy the scheme, the auditors, and eventually the tax authorities simultaneously.
Regulatory triggers are the other large category: FEMA pricing guidelines on inbound and outbound investment, income-tax provisions like 56(2)(viib) on share premium and capital gains computations, Companies Act requirements for preferential allotments and buy-backs. These don't ask whether you feel like getting a valuation — they prescribe it, often specifying who may sign it and in what form.
And then there are the moments of disagreement: shareholder exits, family settlements, joint-venture breakups. An independent number, produced before positions harden, has settled more disputes than any negotiation tactic we know.
Enterprise and equity valuation for M&A, fundraises, and shareholder transactions. We triangulate across DCF, comparable company and transaction multiples, and asset-based approaches — weighted for your stage and sector, with comparables selected and justified, never cherry-picked. The report reads the way a buyer's diligence team thinks.
Fair value determination for option grants and sweat equity. The number has to work three ways at once: defensible to the board, acceptable to the auditors, and sustainable under tax scrutiny. We produce the valuation and the documentation trail that connects it to the scheme.
Valuations in the prescribed form for FEMA pricing guidelines, income-tax (56(2)(viib), 50CA, capital gains), and Companies Act transactions — signed by a valuer registered under the Companies (Registered Valuers and Valuation) Rules, 2017, where the law requires it.
PPA for business combinations under Ind AS 103: identifiable intangibles valued, goodwill computed, and the documentation your auditors need to sign off without a fight.
Independent reads on transaction pricing for boards, audit committees, and minority shareholders — the objective view when the room needs one.
Value-in-use and fair-value models for Ind AS 36 impairment testing, with assumptions built to survive audit review.
Two to three weeks for a standard valuation from complete data — financials, projections, cap table, and the transaction context. Multi-entity groups, complex capital structures, or litigation-grade assignments take longer; we confirm the timeline in writing before starting.
Fees are fixed per assignment, scoped to the purpose: a regulatory filing valuation and a full transaction valuation with fairness opinion are different jobs and priced accordingly. What you are buying is not pages — it is a number that holds up wherever it gets tested, plus someone to defend it when it does.
The most common failure: commissioning a valuation to justify a pre-decided number — for a fundraise, a buyback, a family settlement. Diligence, tax officers, and courts all recognise advocacy dressed as analysis. An independent valuation that won't support your number is telling you something valuable; shooting that messenger is expensive.
A valuation is dated — literally. Markets move, performance changes, and a six-month-old report used for a live transaction invites exactly the challenge you hired the valuer to prevent. Refresh the number when the facts change.
Fair market value, fair value, investment value — these are different standards with different definitions, and using the wrong one produces a number that is technically competent and completely inapplicable. The standard follows the purpose; get it wrong and the report answers the wrong question beautifully.
We define the purpose, the standard of value, and the premise — then collect financials, management projections, cap table, and market data. Getting the question right is half the assignment.
Triangulated valuation across approaches, comparables selected and justified, sensitivities tested. Every assumption documented and sourced as we go — not reconstructed afterwards.
A diligence-grade report: methodology, assumptions, sensitivities, limitations. Written for the reader who wants to challenge it, because that reader is coming.
We walk your auditors, bankers, tax advisors, or the other side's team through the report and defend the conclusions. The engagement doesn't end at delivery.
DCF, comparable company and transaction multiples, and asset-based approaches — selected and weighted for your stage, sector, and the valuation's purpose. Every assumption is documented and sourced.
Valuations for regulatory purposes are signed by a valuer registered under the Companies (Registered Valuers and Valuation) Rules, 2017, in the prescribed form.
Two to three weeks for a standard valuation from complete data. Complex or multi-entity assignments take longer — we confirm the timeline upfront, in writing.
That is the design brief. Methodology, comparables, assumptions, and sensitivities are laid out so a buyer's advisor finds answers, not gaps.
Yes — fair value for option grants is one of our most frequent assignments. The number is built to satisfy the board, the auditors, and tax scrutiny together.
Financials (3 years plus current), management projections, cap table, and the transaction or regulatory context. We send a precise data list once the purpose is defined.
A standard single-entity valuation runs ₹75,000 to ₹2 lakh; multi-entity or litigation-grade work is quoted per scope. Fixed fee, agreed upfront, in writing.
Sometimes — but each purpose has its own standard of value and prescribed method. A valuation built for one audience often fails another; we flag this before you pay twice.
For transactions, three to six months is the practical shelf life — markets move and diligence teams discount stale numbers. Regulatory filings carry their own validity windows.
Then we show our work — every assumption is documented and sourced, so disagreement becomes a discussion about inputs, not a black box. If your inputs change the answer, the report says so.
Talk to a partner about your situation — no pitch, no obligation. If we're not the right firm for it, we'll tell you that too.
Request a consultation