Feburary, 2016

Adviosry

Image 1

Direct Tax

ValuationMerger&Acquistion

Valuation

Putting a price on something or estimating its worth is never straightforward. Today, performing valuations are getting more and more complex with continuous changes in the regulatory and business environment.

Our team has significant experience in providing advice to corporates, funds and institutions, for a wide range of their “valuation” requirements. With the depth of experience which the multi-disciplinary team brings, we are able to provide valuation advice with the right mix of in-depth knowledge, technical expertise, analytical skills, understanding of market dynamics and a high degree of professional judgment.

Valuation Services
Valuation services are required for various reasons such as acquisition, investment, disposal, buyout, merger, restructuring, accounting, statutory / legal etc. The range of valuation services we provide broadly cover the following:

  • Corporate and business valuations
  • i) acquisition of business in India or overseas
  • ii) determination of swap ratio for mergers/ amalgamations
  • iii) valuation of business segments/ divisions for spin-off/ re-structuring
  • iv)valuation for share purchase/ investment/ fund raising
  • Impairment testing (US GAAP/ IFRS/ Indian GAAP)
  • Intangible asset valuation (brand/ IPR/ others)
  • Valuation of financial instruments (derivatives, compound instruments etc) for financial reporting under IFRS/ US GAAP/ Indian GAAP
  • Valuation for purchase price allocation (PPA) for accounting for business combinations (USGAAP/ IFRS/ Indian GAAP)
  • Employee stock option valuation
  • Fund valuation: valuation of portfolio companies for private equity/ venture capital funds
  • Valuation for litigation and disputes including providing expert witness
  • Build/ review financial models

Mergers & acquisition
Focus markets
A substantial focus on owner managed businesses operating in growth sectors that include:
  • Real estate retail & healthcare
  • Manufacturing-textiles & auto
  • Knowledge businesses- pharma, technology and BPO
  • Consumer and food businesses
  • Power and energy

Services offered

  • Debt & convertibles
  • International capital markets
  • Deal Advisory
  • Private equity

Debts & Convertible
Focus
Term Financing-INR/Foreign Currency Restructuring Convertibles/Mezzanine Financing

Structured Finance-Working Capital/Project Financing
Our planning approach is fact specific and would cover the following:

  • Strong relationship with FI’s and Banks in India/Overseas
  • Ability to bring in Overseas Institutions and multilaterals
  • Experienced team with banking background
  • Objective value added assessment and case presentation
  • Inputs on risk assessment and financial structuring of proposed debt
  • Term sheet negotiation

International capital markets
Focus
  • AIM Listings
  • FCCB’s
  • GDR’s
  • Strongly positioned for AIM listings.
  • Strong relationship with brokers/ FI’s
  • Comprehensive one stop approach, of profiling client, through in-depth analytical and investor friendly perspective and advising on key broker/investors and regulatory support requirements

Alternate Investment Market (AIM) in India:
  • Preparing Indian companies for the AIM Market
  • Developing and Reviewing Business plans
Advisory on Structuring and Regulatory matters
  • Pre-IPO equity financing
  • Support/Coordination for equity listing with key statutory advisors

Deal advisory
Buy Side
  • Focus on understanding of commercial rationale
  • Exploring possibilities of synergy, domestically or globally and bringing insights through extensive firm resources and possible risk mitigants
Sell Side
  • Strong expertise in sell side process
  • Focus on optimal value incorporating -Structured Bidding -Global market span
  • Identifying early key deal issues through inhouse tax and accounting expertise and reputed legal counsels (i.e. tax, FDI norms, corporate law, Takeover Code, other regulatory and structuring, etc)
  • Management and Efficient Closure
Valuation Support
  • In house experienced business valuation teams
  • Providing perspectives applying multiple methodologies
Due Diligence
  • In House multi-locational experienced team to undertake business, accounting and tax due diligence
  • Focus on bringing to light key issues/risks
  • Coordination of legal due diligence with reputed firms
Implementation and Closing Support
  • Successful and experienced team to support, undertake and advise on negotiations
  • Advising and finalizing documentation in conjunction with legal counsels
  • Assisting in seeking requisite legal approvals
Private equity
Focus
  • Buyouts
  • Growth Capital
  • Special Situations
  • PIPE
  • Extensive relationships with India focused funds and understanding of fund appetite
  • Focus on objective assessment, combining solid overall business analysis, valuation experience and structuring skills with an objective of reflecting the best value for business and solid justification for investment
  • Ability to discover right value and fund through multiple bidding in select cases
  • Bringing inhouse tax expertise and right legal counsels to advise on investment terms as well as exit aspects
  • Ability to add value post investment through supporting quality governance and disclosure norms
Port deal advisory
The period following an acquisition or merger is an exciting time for a company. It can also be a very stressful period as the management seeks to deliver the promised synergies. The majority of failures in this area are due to poorly thought out, or incompletely executed integration plans – not flawed strategies. Our specialist team work with management to implement the transaction post-deal, accelerate the change and deliver the projected synergies.

Get in Touch