IPO Readiness
The two-to-three years of work that has to happen before a company is fit to file - restatement, controls, governance and disclosure.
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Capital Advisory
Valuation
Valuations for transactions, regulatory filings and financial reporting - with the assumptions stated plainly enough to be challenged.
Overview
A valuation is an argument, not an output. Its credibility rests on whether the method suits the asset, whether the inputs are supportable, and whether the assumptions have been made visible rather than buried in a model. We prepare valuations that a counterparty, a regulator or an auditor can interrogate, and we say where the range is genuinely wide.
What this covers
How we help
Transaction valuation
Valuation to support an acquisition, disposal, investment or internal restructuring.
Regulatory valuation
Valuations required under the Companies Act, FEMA and income tax provisions.
Financial reporting valuation
Purchase price allocation, impairment testing and fair value measurement.
ESOP and share-based payment
Valuation of options and share-based instruments for accounting and perquisite purposes.
Business and intangible asset valuation
Enterprise, equity and identified intangible asset valuation.
Fairness opinion support
Independent analysis supporting a board's consideration of a proposed transaction.
Common questions
Valuation — questions we are asked
It depends on the purpose. Certain valuations must be carried out by a person holding a specific registration or qualification, and the permitted signatory differs between Companies Act, FEMA and income tax requirements. We confirm at the outset which regime governs the exercise and who must sign, because a report signed by the wrong person is not merely weak - it may be invalid.
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Capital structure, debt and equity raising, lender negotiation and the financial case that has to stand up to a credit committee.
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Talk to us about valuation
A short conversation is usually enough to establish whether this is the right route, and what it would involve.