Company profile. Incwert Advisory Private Limited. November 2018

Transcription

1 Company profile Incwert Advisory Private Limited November 2018

2 About us Beginning of our journey Incwert Advisory Private Limited ( Incwert ), set up in October 2018, is a valuation and financial research service provider in India. Incwert takes pride in bringing together seasoned professionals with deep experience in valuation and a broad spectrum of financial advisory and management consulting. Presently, Incwert has offices in Gurugram and Mumbai along with presence in Kolkata through its affiliates. We have association with professionals most of whom have international experience and have detailed knowledge of local laws, rules and regulations. We strive to provide objective and independent assessment of value which can pass the test of auditors and the regulatory authorities in India. Our people Incwert s management and advisory board comprises professionals who come with over years of experience and are members of eminent professional bodies such as ICAI and CFA Institute US. Our professionals have collective experience of over 500 valuations, many of which have been complex and requiring sophisticated approach to solving the problem. Service offering and expertise Incwert can fulfill your requirements for all types of valuation needs, be it financial reporting, tax and regulatory or special purpose valuations e.g. family settlement, ESOP valuation, compound instruments valuation and IP valuation. We have in depth understanding of IndAS 103 and IFRS 03 to offer practical insights in business combinations or purchase price allocation. When it comes to business valuation, we understand driver of value creation and measurement. Our professionals have serviced both listed and private enterprises and have insights across the spectrum of company life cycle, industries, jurisdictions and valuation purposes. 2

3 Management & Advisory board Sunit Khandelwal Director Sunit has worked across a range of sectors such as Infrastructure, real estate, FMCG, retail, engineering, clean energy, healthcare, IT/ ITeS, and other manufacturing industries. Qualifications: Chartered Accountant (ICAI) B.Com (Hon.) St. Xavier s College Registered Valuer under IBBI Sunit has overall experience of over twelve years with over eleven years in valuation advisory, transaction advisory and M&A advisory. As a valuation professional, Sunit has undertaken valuation of businesses for transactions, fund raising, strategic decision making, and corporate restructuring. He has also undertaken valuation of intangible assets, option valuation, litigation support, private equity portfolio valuation and valuation for reporting purposes such as purchase price allocation and impairment test under IFRS and Indian GAAP. In past he has worked with KPMG India (as Associate Director), BDO, Grant Thornton, KPMG UK, and DBDBS a boutique M&A advisory firm. Sunit is also an active speaker on valuation at National Institute of Finance Management (NIFM) Punit Khandelwal Principal Advisor Advised client who is a $30Bn UK Hedge Fund on Collateralized Loan Obligation (CLO) vehicle Qualifications: Chartered Accountant (ICAI) Chartered Financial Analyst (ICFAI) CFA Level 2 (US) MS in Finance (ICFAI) B.Com (Hons.) St Xavier s College Punit brings with himself 15 years of experience of working in sell-side and buy-side across equity, fixed income and consulting. Within fixed income, he has worked as a fundamental analyst across the capital structure: leveraged loans, distressed debt, insolvency / bankruptcy situations and high yield asset classes. He has also helped the sell-side firms & consulting firms to increase their market presence by coming up with thematic and white label papers. In past, he has worked with IMark Serv (head of research), Integreon (Director & Head financial research & analytics) and Adventity. He has worked on several bespoke valuations and has provided research support to dozens of asset managers / investment bankers / brokers / consulting firms across the globe. Biharilal Deora Principal Advisor Biharilal has experience across range of sectors, including oil and gas and commodities in the US, Europe and Asia Qualification: Chartered Accountant (ICAI) rank holder Chartered Financial Analyst (CFA Institute US) CIPM (CFA Institute US) B.Com - South Gujarat University Pursuing a PhD with Symbiosis University Biharilal Deora is an accomplished finance professional with a global market perspective. He is presently also acting as director with Abakkus Asset Manager and has in past managed corporate, family office and university clients, bringing an investment expertise that spans all asset classes. He is also a subject matter expert across a range of tax, accounting, pension, risk management, and capital market policies. Mr. Deora is a regular visiting faculty member for advanced finance programs and is currently pursuing a PhD with Symbiosis University. He began his career as a financial analyst - at Credit Suisse and Fidelity Investments amongst others - where he gained knowledge across a range of sectors, including oil and gas and commodities in the US, Europe and Asia. 3

4 Management & Advisory board Vikram has carried out valuation of businesses across several industries including valuation of tea estates, oil block, plywood industry, edible oil industry, iron & steel, etc. Vikram has over 12 years of post qualification experience across corporate valuation, M&A, private equity, debt restructuring and credit rating advisory. He has undertaken valuation of businesses for transactions, fund raising, strategic decision making, and corporate restructuring. He has also undertaken valuation of brands and valuation for family settlements. Vikram Kumar Singh Principal Advisor Qualification: Chartered Accountant (ICAI) Financial Risk Management (L1) GARP B.Com (Hons.) St Xavier s College Registered Insolvency Professional Balasubramaniam Durgavarjhula Principal Advisor Led M&A deals in the manufacturing and services sectors; successfully raised funds from PE investors for clients in India; Research support to a large hedge fund based out of the USA Qualification: MBA, Asian Institute of Management B.Com - University of Kolkata Bala is currently engaged in a fintech start up and also actively working to bring a Singapore based Supply Chain Consulting and Solution company to India. He has close to two decades of experience covering a broad spectrum of the financial and management advisory space. He brings research rigor from Crisil, M&A structuring from SBI CAPs and Private Equity advisory from KPMG and Brescon along with strong business management skills from Adventity He has been co-founder at MyEquitee, Indi Roots Rural Enterprise LLP, Sixthsense Analytics Pvt Ltd, and has been consultant to Ecovis which is a global consulting firm with offices in 66 countries; BM Trada Certifications, a UK based systems certification body with a JV in India that caters to the markets in the sub continent; Adfactors PR which is one of the largest communications firms in India. His specialties cover strategic financial advisory, business planning & development, training & development 4

5 Our services 5

6 Our services 1 Financial reporting valuations 3 Income tax related valuations Incwert provides valuations of goodwill, indefinite-lived intangibles and cash generating units for impairment testing purposes pursuant to International Accounting Standard 36 and Indian Accounting Standard (IndAS) 36 Incwert can help you address complex issues which may arise in context of IndAS 103 and IFRA 03. Purchase price allocation in a business combination is tricky and requires identification and fair valuation of assets, assumed liabilities followed by determination of useful life of such assets. We can help you in the following ways: - Pre-acquisition analysis of price and assessment of potential impact on earnings - Acquisition date fair value measurement of consideration transferred, any previously-held equity interests and any remaining noncontrolling interests - Fair valuation of tangible assets and identified intangible assets - Valuation of derivatives and other financial instruments and their subsequent mark-tomarket analysis, when required - Fair value measurement of assumed liabilities 2 Derivative valuation and ESOP / stock based compensation Our team specialises in developing quantitative valuation models for complex situations such as that of fair valuation of early-stage enterprises which have had recent round of funding. We have experience in utilising evaluation techniques such as Monte Carlo simulation, Binomial Lattice models, Black-Scholes formula and Back-solve. We can assist you in fair valuing share-based payment transactions under IndAS 102. Indian Income tax laws stipulate the need for valuation in several situations. With team of professionals comprising mostly of individuals who are also chartered accountants, we are adept to help you deal with any of such requirements. Under extant Indian Income tax law, situations where we could assist you are: - Determining fair market value of unquoted equity shares: section 56(2)(x) and section 50CA of the Indian Income-tax Act, Applicable rule would be 11U and 11UA - Computing income attributable to indirect transfer of assets, including transfer of share or interest in a company under section 9(1)(i). Applicable valuation rule would be 11UB and 11UC 4 Regulatory valuations Incwert can help in regulatory compliance valuations. Be it under Companies Act, 2013, FEMA or SEBI, we can offer skilled expertise and defend our valuation positions. Valuation under Companies Act, 2013 may be required in situations such as: - Allotment of securities other than cash sec.39(4) - Issue of sweat equity shares sec.54(1) - Issue of shares/ convertible securities on preferential basis sec.62(1)(c) - scheme of debt restructuring, compromise or arrangement sec purchase of minority shareholding sec.236(2) - company liquidation sec valuation for swap purposes Valuation under FEM (Transfer or Issue of Security by a Person Resident Outside India) Regulations, 2017 Pricing guidelines under SEBI regulations Issue of Capital and Disclosure Requirements, 2018; Listing Obligations And Disclosure Requirements,

7 Why Incwert Because our team has extensive experience in providing valuations for accounting, tax and regulatory purposes. We believe you will find a number of reasons to choose Incwert to provide the valuation services you require. Our professionals have undertaken complex valuations using sophisticated and globally accepted methodologies. We understand the requirements of financial reporting and tax & regulatory valuations. We work with high professional standards and strong credibility in delivering business, assets, intangibles and derivative / compound instruments valuations. We as a team comprise professionals who are chartered accountants, MBAs, CFA charter holders and FRM (GARP). Through our experience we can provide practical advice and anecdotal evidence on the technical aspects. Our professionals are and have worked in past with various international firms. As such we understand the requirements from auditor s perspective, the recent and emerging issues from a regulator s standpoint. We are completely independent on our engagements as we do not offer audit / tax services. For financial reporting related valuations we have the experience of having the workings successfully reviewed by the auditors. We understand the level of robustness expected by a Big 4 auditor. Our professionals have proven track record. Finally, our pricing is commensurate to our level of involvement. Extensive experience Understand the requirements High professional standards Team of CAs, MBAs, CFAs, FRM Completely independent Understand level of robustness expected by Big 4 auditors Proven track record 7

8 Contact us Incwert India contacts Sunit Khandelwal Director M : E: sunitk@incwert.com Our Offices Present Gurugram F-1502, GPL Eden Heights, Sector 70, Gurugram Mumbai 1401, Casa Marina, Hiranandani Estate, Thane West Maharashtra Upcoming offices: Gurugram DLF Building 10 B Cyber City Phase II Gurugram Mumbai Raheja Centre Point Bandra Kurla Complex Mumbai Incwert Advisory Private Limited, an Indian Private limited company having CIN U74999HR2018PTC All rights reserved. Incwert and the Incwert logo are registered trademarks of Incwert Advisory Private Limited. This document is for e-communication only. This publication has been prepared for general purpose, and does not constitute professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this proposal, and, to the extent permitted by law, Incwert Advisory Private Limited ( Incwert ), its members, employees and agents accept no liability, and disclaim all responsibility, for the consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it. Without prior permission of Incwert, this publication may not be quoted in whole or in part or otherwise referred to in any documents 8