Business Valuation Services in India

Independent business and enterprise valuation for critical financial and commercial decisions.

RNC Valuecon LLP provides professional business valuation services in India for mergers and acquisitions, fundraising, corporate restructuring, unlisted share transactions, regulatory requirements and financial reporting.
Our valuation specialists combine financial analysis, industry knowledge and professional judgment to help companies, investors and financial institutions understand business value.
With over 30 years of organisational experience and a multidisciplinary valuation team, RNC supports businesses across India.

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What are business valuation services?

Business valuation services estimate the economic value of a company, enterprise or ownership interest at a specified valuation date. They help business owners, investors, lenders and other stakeholders assess value for transactions, strategic decisions, financial reporting and applicable regulatory requirements.

Depending on the company’s characteristics and the engagement’s purpose, professional valuers may use income-based, market-based or asset-based valuation approaches.

RNC provides independent valuation support across a range of commercial and regulatory situations.

When do you need a business valuation?

Business valuation services by requirement

Mergers & Acquisitions

Determine business or equity value to inform acquisitions, divestments, mergers, demergers and restructuring decisions.

Fundraising and Investment

Assess company value to inform equity investment, capital raising and negotiations involving ownership interests.

Unlisted Shares

Value unlisted equity and other relevant ownership interests for transactions and applicable reporting requirements.

ESOP and Sweat Equity

Support employee share-based compensation valuation according to the purpose and applicable financial or regulatory requirements.

Corporate Restructuring

Evaluate business or equity value in connection with proposed reorganisations and transaction structures.

Financial Reporting

Assess business value for relevant purchase price allocations, impairment assessments and other reporting purposes.

Litigation & Dispute

Court-admissible reports for shareholder disputes, oppression proceedings

Banking & Lending

Certified enterprise value for loan sanctions, debt restructuring

Impairment Testing

Goodwill and intangible asset impairment under Ind AS 36

Our business valuation deliverables

RNC’s business valuation engagements are scoped according to the valuation purpose, the characteristics of the subject company and the applicable professional or regulatory requirements.

Depending on the assignment, deliverables may include:

An independent business, enterprise or equity valuation report.
An explanation of the valuation methodology and relevant assumptions.
Financial analysis and assessment of available forecasts.
Analysis of relevant market comparables and valuation multiples.
Supporting valuation schedules and sensitivity analysis where appropriate.
Documentation required under the agreed engagement scope.

The final deliverables are confirmed at the beginning of each engagement.

Request a Business Valuation Proposal.

Three approaches to business valuation

Income approach: Discounted Cash Flow (DCF)

The DCF method estimates value using projected future cash flows discounted to their present value at an appropriate discount rate.
It is particularly relevant where reliable financial forecasts can be developed and future cash generation is an important value driver.

Market approach: Comparable companies and transactions

This approach estimates value using financial information and valuation multiples observed for comparable businesses or relevant transactions.
Appropriate peer selection, financial adjustments and differences in business characteristics influence the analysis.

Asset approach: Adjusted net asset value

The asset approach estimates business value by considering the relevant value of assets and liabilities.
It may be particularly relevant for holding companies and certain asset-intensive businesses.

Why choose RNC for business valuation?

RNC Valuecon LLP brings together financial valuation knowledge and multidisciplinary experience across complex businesses and asset-intensive industries.
Our team has worked on valuation assignments involving energy, infrastructure, industrial businesses and corporate transactions. We combine relevant valuation methodologies with sector understanding and analysis suited to each engagement.
Where an engagement requires a registered valuer, the appropriate professional and registration category must be identified according to the applicable requirements.

business valuation experience

Suzlon Energy Limited

Appointed by the lenders for determining enterprise value for the purpose of debt restructuring. Lender-appointed mandates require the highest standard of defensibility — reports that can withstand scrutiny from multiple creditor constituencies.

IL&FS Transportation Networks Limited

Business valuation of 16 SPVs comprising toll road and annuity projects — a complex, multi-entity group assignment requiring consistent methodology across project types and stage of construction.

ONGC Tripura Power Company Limited

Estimation of fair value and liquidation value of IL&FS’s investment in ONGC Tripura Power Company — requiring both going-concern and distressed-scenario valuation of a power sector SPV.

ILFS Engineering and Construction Company

Estimation of enterprise value for the purpose of divestment — a transaction-facing valuation prepared to support price negotiation with prospective acquirers.

John Energy Limited

Valuation of unquoted shares for the purpose of divestment — requiring the market and income approaches to establish a defensible per-share value for unlisted equity.

Flemingo Dutyfree Shop Private Limited

Business valuation for the purpose of stake sale — a commercial transaction valuation requiring fairness-opinion-quality analysis to support shareholder negotiations.

To speak to our Valuation Experts, Schedule an appointment.

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Frequently asked questions

What is business valuation?

Business valuation is the process of estimating the economic value of a company, business or ownership interest as of a specified date. Professional valuers use appropriate income, market or asset-based approaches according to the valuation purpose and available information.

Who can perform a business valuation in India?

The required qualifications depend on the valuation purpose and applicable law. Certain Companies Act and insolvency assignments require appropriately registered valuers. Other regulatory frameworks may prescribe different eligible professionals.

How much does business valuation cost in India?

Business valuation fees depend on company size, complexity, the number of entities involved, the valuation purpose and reporting requirements. A professional valuation firm can provide an engagement-specific proposal after an initial assessment.

How long does a business valuation take?

Timelines depend on the availability of financial information, the complexity of the business, the methodologies required and any applicable reporting deadlines. RNC can propose a timeline after reviewing the engagement.

What is the difference between business valuation and company valuation?

The terms are often used interchangeably. However, the precise valuation subject may be an operating business, an entire enterprise, a company or a particular equity interest. The engagement scope should identify exactly what is being valued.

Which method is used to value a business?

The principal approaches are income, market and asset-based valuation. The appropriate method depends on the company’s characteristics, financial information, growth prospects and the purpose of valuation.

Can RNC value an unlisted company?

Yes. RNC publishes experience involving valuations of unlisted ownership interests. The required approach and professional qualifications depend on the intended transaction or reporting purpose.

When is a business valuation required for mergers and acquisitions?

Business valuations can support acquisition pricing, negotiations, merger ratios, financial reporting and other transaction requirements. Whether a particular valuation report is mandatory depends on the transaction structure and applicable law.

What documents are required for business valuation?

Requirements commonly include financial statements, management accounts, relevant forecasts, business information, ownership details and transaction documents. Additional information may be required depending on the assignment.

Does RNC offer business valuation services across India?

RNC provides business valuation services in India and publishes multiple office locations. Prospective clients can contact its valuation team to discuss the proposed engagement and applicable service arrangements.

Reviewed by Sahil Narula

Sahil Narula is the Managing Partner at RNC Valuecon LLP and a Registered Valuer with IBBI. He brings over a decade of experience in Valuation Services, Corporate Finance, and Advisory, having led numerous complex assignments under the Insolvency & Bankruptcy Code, 2016, Mergers & Acquisitions, Insurance, and Financial Reporting.

He is a regular speaker at national forums (ASSOCHAM, CII, ICAI, IBBI, Legal Era) and currently serves as Co-Chairman of ASSOCHAM’s National Council on Insolvency & Valuations and a member of CII’s Task Force on Insolvency & Bankruptcy.

Connect with Sahil on LinkedIn.