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Valuation Investment Banking Real Estate Advisory Infrastructure Advisory Technical Assurance
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Advisory
Valuation
Business Valuation Valuation of Financial Securities, Instruments & Derivatives Valuation of Brands, Intangible Assets & Intellectual Property Valuation of Industrial Assets, Plant & Machinery Valuation of Real Estate Valuation of Infrastructure Assets & Specialized Assets Purchase Price Allocations for Mergers & Acquisitions Impairment Studies for Tangible Assets Impairment Studies for Intangible Assets & Goodwill
Infrastructure Advisory
Identification and Analysis of Potential Opportunities Partner Identification - Joint Venture, Public Private Partnership Financial Modeling - Business, Financial and Economic analysis Commercial and Financial Due Diligence Bid Advisory and Bid Process Management Preparation of Information Memorandums Preparation of Detailed Project Reports Financial Closure and Project Financing Project Appraisal and Monitoring Independent Review & Assurance Lenders & Investors Engineer
Investment Banking
(SEBI Registered CAT I Merchant Banker)
Transaction Advisory & Due Diligence Fairness Opinions Corporate Finance & Advisory Private Equity and Venture Capital Debt Solutions and Syndications Mergers & Acquisitions IPO, Rights Issue, Buy-Back, Delisting Corporate Restructuring, Business Reorganisation Slump Sales, Mergers & Takeovers
Technical Assurance
Technical Due Diligence Reviews for Mergers & Acquisitions Lenders and Investors Engineer Services Project Cost Investigations & Forensic Advisory Feasibility Studies Technical Analysis, Opinions & Audits Chartered Engineers Opinions and Certifications
Advisory
The Valuation Consulting Services of RBSA cover the complete spectrum of purposes for which valuation advice may be required, such as
Mergers & Acquisitions - Pre Deal Advisory & Valuation Fairness Opinions Financial Reporting under Indian GAAP, IFRS & US GAAP Purchase Price Allocation for Mergers & Acquisitions Fair Value Accounting Portfolio Valuation for Private Equity Funds, Real Estate Funds Impairment Studies for Tangible, Intangible Assets & Goodwill Banking (Lending against Assets) Distress Assets / Non Performing Assets Courts & Litigation Support
VOLTAS
Valuation of Voltas Ltd. for reporting under International Financial Reporting Standards (IFRS 1)
Management Information & Strategic Planning Insurance Taxation Planning & Compliance Initial Public Offerings Securitization Cost Investigations Quantity Surveying and Estimation
Valuation
Business Valuation
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Listed and unlisted companies Closely held businesses Securities and Fractional business interests Professional practices Illiquid debts and equity securities Thinly traded stock of publicly listed companies Stock options, warrants, grants and rights Liability Valuation
Residential, Commercial Real Estate Retail Spaces, Shopping Malls, Multiplexes IT Parks Petrol Pumps Hotels & Hospitality Properties Industrial Properties etc.
Valuation of Specialized Assets Stock and Inventory Valuations, Stock Audits Valuation of Infrastructure Assets
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Goodwill, Brands, Trade Marks, Copyrights, Patents, Designs, Licenses Software and IT Products, Databases Technological Know-how, Engineering Drawings, Industrial Designs, Human Resources Customer Contracts & Relationship, Customer lists, Distribution Rights & Network Franchises and Licensing Agreements, Non compete agreements etc.
Dams, Lakes, Water bodies Industrial Water Rights Hazardous Land Fills Highway and BOT Projects, IT Parks Telecom and Communication Infrastructure Airport and Aviation Infrastructure Railway line and Railway Infrastructure Ports, Harbors Etc
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Automobile Plants, Cement, Ceramic Industries, Engineering, Steel Plants, Metal Smelters, Mining Assets, Fertilizer Plants Petrochemical Complexes, Refineries, Pharmaceuticals and Chemical Companies Power Generation and Transmission Companies Information Technology, Telecom Assets etc
Due Diligence, Valuation & Advisory Mining Feasibility Studies Mineral Reserve Certifications Review of Operations, Mining Leases Technical Opinions
WorldVal
International
www.world-val.com
Worlwide Valuation Services
RBSA is an active member of WorldVal International, a network of leading Valuation firms across Australia, ASEAN, China & Hong Kong, India, Middle East, Africa Europe, Russia, UK, US, Brazil & South America, providing International Clients with seamless & Worldwide Valuation services. WorldVal has full service Valuation capabilities across Business & Financial Valuation, Industrial and Plant & Machinery Valuation, Real Estate Valuation, etc. WorldVal serves Global clients, with an excellent local domain knowledge and expertise across key geographies.
Advisory
Impairment Reviews
Impairment Analysis addresses financial accounting and reporting for the impairment of Tangible Assets, Intangible Assets and Goodwill. It requires recognition of an Impairment Loss if the carrying amount of the asset is not recoverable from its undiscounted cash flow and requires the measurement of this loss as the difference between the carrying amount and fair value of the asset (IAS 36 and AS 28). Impairment Analysis provides useful guidance and insights into an unexpected or sudden decline in the service utility of a Tangible or an Intangible Asset. Goodwill Impairment could occur when the current and projected performance of the acquired entity is below what was estimated at the time of acquisition
The Fair Value Accounting norms provide guidance for determination of fair value estimations for financial reporting purposes and comparability among fair value measurements thus eliminating inconsistencies in approaches. Stringent fair value measurement principles necessitate market participant assumptions of highest and best use regardless of the acquirer's intentions.
We have the required skills and expertise to perform unbiased and fair analyses that brings clarity to various Stakeholders, Regulators, Investors, CFOs, Auditors etc. by explaining the valuation aspects of the new financial reporting requirements n Fairness Opinions for Mergers & Acquisitions n Business Combinations : Valuation for Purchase Price Allocations under IFRS and US GAAP (IFRS 3 or SFAS 141/142) for Mergers & Acquisitions n Valuation of Tangible and Intangible Assets, Goodwill for First Time Adoption under IFRS n Impairment Reviews and Valuation for Tangible and Intangible Assets, Goodwill under IAS 36 and AS 28 n Valuation of Tangible & Intangible Assets for Merger, De-Merger & Reorganizations n Share Based Payments n Fair Value Accounting n Valuation of Financial Instruments, Derivatives and Securities under AS 30, 31 & 32
Advisory
Brand Valuation of Odyssey, A leisure retail book store, for its London AIM listing
With the spate of recent M&A activity, there is an increased need for intangible asset valuations for International Financial Reporting Standards (IFRS), US GAAP and Indian GAAP. Valuations also form the basis for risk and performance management.
Transaction Support
We help our clients leverage the value of their intangibles through acquisitions, tax planning, selling/mortgaging, etc. We ensure that the intangible assets are utilized to their full extent along with tangible assets. The transaction support services that we provide for brands and intangibles are: Brand Due Diligence for acquisitions, disposals and bid defense Royalty Rate determination
Acquisition of Sky Gourmet, Mars Restaurant & other related Brands like Birdy's, Just Around The Corner, etc. by IHC, London
Advisory
Mining Leases, Technical Opinions. Our expertise extends to Fully Developed and Operational Mines, Partly Explored Deposits, Exploration properties, Major and Minor Minerals, Metallic (Ferrous & Non ferrous) and Non Metallic Minerals, Fuel Minerals, Open Pit as well as Underground Mines.
Sambhar Lake - a unique Salt Producing Lake spread across an area of more than 270 sq. kms. We have used Michael Porter's Business Strategy Model of Value Chain Analysis for its Valuation. It was a unique and landmark valuation and our team was invited at World Valuation Congress to present a paper on the subject
GCGSCL
GREATER CALCUTTA GAS SUPPLY CORPORATION LIMITED
Valuation of Fixed Assets and Mines & Mineral Reserves of Hindustan Zinc Ltd.
Valuation of Fixed Assets and Mines & Mineral Reserves of Hindustan Copper Ltd.
Advisory
Investment Banking
RBSA Capital Advisors LLP, a group company, is a SEBI Registered Category I Merchant Bank, and focuses on Investment Banking Services and Fund Raising requirements for Mid-Market and Emerging Companies. RBSA Capital Advisors also has an active and strong Fairness Opinion practice, and has an established client base amongst large publicly listed companies. The assortment of services spans across: n Mergers, Acquisitions, Joint Venture and Strategic Transactions n Fairness Opinions n Capital Issues Management - Initial Public Offers, Follow-on Public Offers, Rights Issues, Qualified Institutional Placements n Open Offer Management n De-Listing and Buyback n Private Equity Syndication n Debt Syndication and Placement n Project Finance Term & Working Capital Finance n Financing of Infrastructure Projects n Debentures, Commercial Paper & Other Securitized Debts n Overseas Debt Funding in the form of ECBs n Corporate Restructuring / Business Reorganization n Other Capital Market / Merchant Banking Services - Valuers and Advisors for ESOPs, Sweat Equity
RBSA has advised leading Banks & Institutions and arranged for Disposal of a Sugar Mill
Fairness Opinion A fairness opinion is a financial advisor's (Category I Merchant Banker) opinion and an independent objective analysis, from a financial point of view, as to the fairness of the financial terms of a Business Combination or a Corporate Transaction. There are many reasons for fairness opinions, most of which deal with transactions (business combinations) involving publicly listed and closely-held companies. An independent opinion of fairness relative to the exchange of values can provide substantial support for such transactions. Furthermore, independent fairness opinions are useful as a defense against dissident shareholder claims.
Advisory
We have acted as Valuation Advisors for Kshitij Real Estate Fund for its financial reporting requirements
Acted as Valuation Consultants for OZONE IT Park for its Consortium Financing proposals
Transaction Management:
Joint Venture Partner Identification Bid Process Management Tender Sales & Purchase Information Memorandum preparations and marketing Evaluations of Offers and Options Short-listing investors on the determined parameters Analyzing the offers and negotiating terms Co-ordinate the overall due diligence Closure of the transaction
Real Estate Advisory for land sale of National Textile Corporation
Advisory
Infrastructure Advisory
Identification and Analysis of Potential Opportunities Partner Identification - Joint Venture, Public Private Partnership Feasibility Studies, Financial Modeling including Business, Financial and Economic Analysis Commercial and Financial Due Diligence
Business Valuation of six Road Companies & Container Business of Reliance Infra-Ventures Ltd.
Bid Process Management & Bid Advisory Preparation of Information Memorandums & Detailed Project Reports Financial Closure and Project financing Project Appraisal and Monitoring Independent Review & Assurance Lenders & Investors Engineer
Valuation of Generation Assets - Power Plants, Transmission Assets & Distribution Assets of Torrent Power
Technical Assurance
Technical Due Diligence Reviews for Mergers & Acquisitions
We perform Technical Due Diligence on the target company for the acquirer to make informed and diligent acquisition decisions and understand risks inherent in the deal.
principally assures and ensures the correctness of the project execution and its periodic reporting / monitoring to the lender / investor. This may be also extended to verification of the project completed and also successfully completion of trial run of any industry.
Acted as Valuation Advisors for the whole Network of Reliance Communications, Hutchison Essar & BPL Mobile
The role of a lenders engineer is to verify the physical status of work being implemented on the site; and to judge and report the quantum of finance actually being contributed and used on the project. These services assure the lender against misuse of funds.
Impairment Studies
We conduct technical asset impairment studies in accordance with financial reporting standards to assure auditors and investors of Impairment Risks.
Technical Analysis, Opinions & Audits Chartered Engineers Opinions and Certifications
We see more than Businesses and Assets. We see your problems and understand your objectives. We see the value underlying your company. And we deliver high-class solutions and results.
We have carried out Valuation of Fleet of Boeing Aircrafts and other Aviation Assets of Bluedart Express Ltd. for its Acquisition by DHL
World Class
We have consistently delivered high-class solutions and results which are designed to meet each client's individual needs. With our multidisciplinary expertise across various industry segments we have brought clarity to difficult and complex situations. Our team has excellent worldwide delivery capabilities across various industry segments like Automobile, Aviation, Cement, Ceramics, Construction, Commodities, Chemicals, Energy, Engineering, Electronics, Fertilizers, FMCG, Hotels & Hospitality, Infrastructure, Information Technology, Leather, Logistics, Metals & Mining, Oil & Gas, Petroleum, Petrochemicals, Pharmaceuticals, Port, Power Generation, Transmission & Distribution, Real Estate, Retail, Steel, Textiles, Telecom & Mobile etc.
Hindustan Zinc Ltd. is India's largest integrated Zinc and Lead producer of India having Assets and Mines spread across 13 states in India. We conducted Valuation and Due Diligence of all the Assets and Mines on behalf of Government of India for its Disinvestment & Privatization Programme. It has since been divested in favor of Vedanta (Sterlite) Group
Acted as Valuation Advisors for Merger of Air India and Indian Airlines
In every area of our operations we work hard to deliver the highest possible level of customer care, the best value for money and the most appropriate solutions all backed by the drive, innovative imagination and resourcefulness that makes RBSA a world-class company.
Special expertise in Automobile Industry with hands on valuation experience with companies like MICO, Ashok Leyland, Eicher, Royal Enfield, Punjab Tractors Ltd., Swaraj Mazda Ltd., Swaraj Engines Ltd., Swaraj Automotives Ltd.
Advisory
Credentials
RBSA has advised leading companies on Mergers & Acquisitions and Financial Reporting matters. We have also acted as domain experts and valuation advisors on several transactions. Some of the main transactions and other instances where our services have been utilized are:
Valuation Advisors
Valuation of KEL for Joint Venture with Bharat Heavy Electricals Limited
Valuation of Voltas Ltd. for reporting under International Financial Reporting Standards (IFRS 1)
Valuation Advisors
Valuation Advisors
Demerger and Reorganization of Reliance Infrastructure Ltd. into various business groups
Valuation of entire city of Kandla & Gandhidham under jurisdiction of Kandla Port Trust
Technical Due Diligence Valuation of Fixed Assets including Generation Assets (Power Plants) of Damodar Valley Corporation
Valuation Advisors
LAFARGE
CEMENT India
Valuation of CFS of Balmer Lawrie & Co. Ltd. for Joint Venture purposes
Advisory
Valuation Advisors
Acted as Lenders Engineer on behalf of BoI for Pacific Pipes Pvt. Ltd. (GRP Pipe Unit)
Valuation of FLAG Telecom Group Ltd. worlds largest submarine cable system with a total route length of more than 65,000 kms - connecting all the continents of the Earth
Lenders Engineer
Consortium Lending
Valuation of entire Real Estate Portfolio of HDFC Bank for Basel II Capital Adequacy
Valuation of Jindal SAW Ltd. for reporting under International Financial Reporting Standards (IFRS 1)
Equity Valuation
Valuation Advisors
Valuation Advisors
Brand Valuation of Odyssey, a leisure retail book store, for its London AIM Listing
Valuation of Telkom Kenya, Kenya for the proposed acquisition by major Indian Telecom Co.
Due Diligence and Valuation of Portfolio of Real Estate Properties (spread across India) for proposed Acquisition by Deutsche Bank
Fund Raising
Valuation Advisor
Valuation Advisors
Valuation of Land & Real Estate across India for Maruti Suzuki
Valuation Advisors
Financial Reporting
Impairment Review
Fairness Opinion
Acted as Advisors and Valuers to Severfield Rowens PLC for Valuation of Land Parcel.
Merger & Reorganization of Telecom & Communications Business of Reliance Group An asset base of more than Rs. 22,000 Crores
Valuation Advisors
Valuation Advisors
AuBL
Restructuring Technical Due Diligence Buy-side Valuation Advisors
Purchase Price Allocation / Financial Reporting
Acquisition of Kirloskar Oil Engines by Eaton (US GAAP) Valuation of Matrix Laboratories Limited for proposed restructuring
Technical Due Diligence and Valuation of Power Generation Plants, Transmission and Distribution Assets of Torrent Power for financial reporting
Valuation Advisors
Valuation
Clients
Automobile
Maruti Suzuki India Ltd. Punjab Tractors Ltd. Ashok Leyland Ltd. Ficosa International MICO - BOSCH Swaraj Mazda Ltd. Swaraj Engines Ltd. Autolite (India) Ltd. Eicher Motors Ltd. Royal Enfield Ltd. Ennore Foundries Tata Holset Ltd. Cummins Premier Ltd.
Consultants
KPMG PriceWaterHouse Coopers Ernst & Young Deloitte BNP Paribas SBI Capital Markets Ltd. Grant Thornton
UCO Bank Oriental Bank of Commerce Allahabad Bank Indian Bank Corporation Bank Andhra Bank Vijaya Bank Bank of Maharashtra State Bank of Travancore Dena Bank State Bank of Bikaner and Jaipur State Bank of Mysore The Jammu & Kashmir Bank ING Vysya Bank Ltd. Kotak Mahindra Bank Indus Ind Bank The South Indian Bank Yes Bank The Bank of Rajasthan Development Credit Bank Standard Chartered Bank Punjab & Sind Bank IFCI SIDBI State Bank of Patiala. State Bank of Indore United Bank of India Associates Financial Services Ltd. LIC Housing Finance Ltd. Dewan Housing Finance Ltd. Citicorp Financial Services Ltd. Catholic Syrian Bank Bombay Mercantile Co-op Bank Ltd.
Cement
Lafarge Birla Cement Ltd. Grasim Industries Ltd. Aditya Cement Ltd. J. K. Lakshmi Cement Ltd. Dalmia Cement (Bharat) Ltd. Shree Cements Ltd. Mangalam Cement Ltd. Pittie Cement Ltd.
Advisory
FMCG
ITC Coca Cola Allanasons Glud & Marstrand Bunge India Pvt. Ltd. Godrej Beverages & Foods (Nutrine) Modern Foods Ltd. Saboo Sodium Chloro Ltd. Esveegee Breweries (Gujarat Ambuja)
Clients
Severfield Rowens PLC Tata Steel & Strips Ltd. Steelcast Ltd. Ratnamani Metal & Tubes Ltd. Rathi Alloys Ltd. Ratnesh Metals (P) Ltd.
Logistics
Bluedart Express Ltd. DHL Worldwide Balmer Lawrie & Co. Ltd. Maersk India Pvt. Ltd. Deccan Cargo & Express Logistics Stolt Tank Containers BV BLR Transportation & Logistics Lee & Muirhead Pvt. Ltd. UPS Group Companies
Taj Group of Hotels (Indian Hotels) Le Meridien India Tourism Development Corporation Radisson Hotel Project Duet India Hotels Ltd. Highstreet Cruises and Entertainment Chokhi Dhani Resort (Indias first 5 Start Ethnic Resort) Fort of Bundi Sambhar Lake (270 Sq. Kms. Salt Producing Lake) Cineline Entertainment (CineMax) Adlabs Films Limited Deccan Chronicle SkyGourmet Catering Mars Restaurants Gate Gourmet Entertainment One Limited
Infrastructure
Air India (Indian Airlines) Reliance Infrastructure Limited Reliance Energy Limited Telecom & Communication Infrastructure of Reliance Communications Limited FLAG Fiber Loop Across the Globe Kandla Port Trust Hindustan Shipyard Limited Sambhar Lake, Dam, Salt Water Bodies Container & Warehousing Corp. Ahmedabad Urban Development Authority IFFCO Dams & Related structures Industrial Water Rights National Highway Projects on BOT Basis. ONYX Asia Services.
Advisory
Advisory
Clients
Pharmaceuticals
Hospira Ranbaxy Aurobindo Pharma Orchid Chemicals & Pharmaceuticals Ltd. Matrix Laboratories Dishman Pharmaceuticals Trident Life Sciences Vedant Drugs and Fine Chemicals Pvt. Ltd. Core Healthcare Ltd. (Core Parentals) Emmellen Biotech Karnataka Malladi Biotics Rajasthan Drugs & Pharmaceuticals Ltd. Unique Organics Ltd.
Power
Bharat Heavy Electricals Ltd. Himachal Pradesh State Electricity Board Reliance Energy Limited Damodar Valley Corporation Torrent Power Ltd. Reliance Goa and Samalkot Power Ltd. Suzlon Energy Schneider Electric KEC International Ltd. Man Industries Ltd.
Others Industries
Pantaloons Odyssey India Ltd. Apple Ceramics Ltd. Vrundavan Ceramics Ltd. Deco Ceramics Ltd. Formica India Kiran Overseas Exports Ltd. Pacific Pipe Systems (Doshion) Triveni Bialetti Industries Pvt. Ltd. Creation Decors (P) Ltd, Alwar. Grapco Industries Ltd. Punsumi India Ltd. Man Structural Ltd. Construction Quality Rating Agency Indian Express Newspapers
Advisory
Real Estate
Reliance Infra-ventures Ltd. Shapoorji Pallonji & Co. Ltd. Tata Realty & Infrastructure Emaar MGF Raheja Group Kshitij J P Infrastructure Emerald Island Horizon Realty Trust IHHR Hospitality Private Ltd.
Advisory