Valuation you can put before any regulator.
IBBI-Registered Valuers for Securities or Financial Assets — startup valuations, ESOP pricing, merger fairness reports, FMV under Indian Accounting Standards, and private placement valuations.
A valuation is only as credible as the person who signs it. Since 2017, the Companies (Registered Valuers and Valuation) Rules require that valuations for statutory, regulatory and court purposes be conducted only by IBBI-Registered Valuers. Our Registered Valuers hold IBBI registration for Securities or Financial Assets (SFA) and issue legally valid reports across the full spectrum of commercial and regulatory purposes.
From a seed-stage startup valuation for DPIIT recognition to a merger fairness opinion for a listed company board, we bring technical depth and regulatory credibility to every assignment.
What’s included
Full scope of the Valuation Services practice.
Startup & Early-Stage Valuations
- Startup equity valuation for DPIIT tax exemption (Sec 56(2)(viib))
- Valuation for angel/seed rounds and SAFE/CCD instruments
- Pre-revenue valuation — Scorecard, Berkus, VC method
- 409A equivalent valuations for Indian entities
- Fair value for government startup scheme eligibility
ESOP & Sweat Equity Valuations
- ESOP exercise price determination (Black-Scholes / Binomial)
- Sweat equity share valuation under Sec 54 of the Companies Act
- Annual ESOP expense computation for Ind AS 102 / IGAAP
- Phantom stock and SAR plan valuations
- Valuation support for employee stock option disputes
FMV under Indian Accounting Standards
- Fair Market Value (FMV) for share transfers (Sec 56, Rule 11UA)
- FEMA valuation for cross-border share transactions (RBI/FIPB)
- Ind AS 113 fair value measurements for financial reporting
- Purchase Price Allocation (PPA) under Ind AS 103
- Impairment testing — goodwill and other intangibles
Merger & Transaction Valuations
- Fairness Report on Share Exchange Ratios for mergers and demergers
- Valuation for Sec 230 scheme filings before NCLT
- Business Enterprise Valuation — DCF, Comparable Company, Comparable Transaction
- Pre-IPO fair value assessment and anchor investor pricing
- Valuation for private placement for non-cash consideration
- IBC resolution plan valuations (CIRP and liquidation estate)
Who engages this service
Built for your situation.
- Startups seeking DPIIT recognition or issuing ESOPs to employees
- Founders and investors completing a share transfer or secondary sale
- Companies issuing shares for non-cash consideration (sweat equity, assets)
- Boards approving a merger or demerger who need an independent fairness opinion
- Companies being acquired — buy-side or sell-side valuation support
- Resolution Professionals requiring IBC-compliant valuation reports
How we work
Our process.
- 1
Scope confirmation
Agree on purpose, standard of value, effective date and methodology — critical because RBI, Income-tax and Companies Act each have different requirements.
- 2
Data collection
Financial statements, business plans, cap table, industry benchmarks and any comparable transaction data.
- 3
Model & analysis
Valuation model built, reviewed internally, and shared with management for factual accuracy confirmation.
- 4
Report delivery
IBBI-compliant Registered Valuer report — signed, sealed, and formatted for submission to the relevant authority or investor.
- 5
Defence & queries
We respond to regulator queries (ROC, Income-tax, RBI, NCLT) and can appear before the relevant authority if the report is questioned.
Frequently asked
Questions about Valuation Services.
For most statutory purposes post-2017, only an IBBI-Registered Valuer's report is legally valid. For Sec 56(2)(viib) exemption, for FEMA share transfers, and for Companies Act fresh issues, the report must be signed by a Registered Valuer — a CA's certificate without IBBI registration is insufficient.
In a merger or demerger, the board of each company must justify the share exchange ratio (how many shares of the surviving entity each shareholder of the merging entity receives). An independent fairness report by a Registered Valuer validates this ratio before submission to the NCLT under Sec 230.
Sweat equity is issued to promoters or employees in consideration of non-cash contributions (IP, know-how, services). The Companies Act requires the value to be certified by a Registered Valuer at the time of issuance. ESOP valuation uses option pricing models (Black-Scholes) to expense the fair value of options over the vesting period.
For a straightforward startup FMV (Sec 56): 3–5 working days. For a DCF-based business enterprise valuation with management projections: 7–15 working days depending on data availability.
You may also need
Related practice areas.
Transaction Advisory
End-to-end advisory for M&A, JVs, strategic partnerships and IPOs.
Audit & Assurances
Risk-based audits that strengthen governance and investor confidence.
Assessment & Representation
Tax authority representation from scrutiny through ITAT and High Court.
Ready to engage on Valuation Services?
Book a free 30-minute scoping call — a senior partner will walk through your requirements and outline the exact scope and fee.