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CFA-Led · IVS & Ind AS Compliant · India & UAE

Business Valuation for India & UAE–India Deals

Direct Answer

Business valuation in India is an independent assessment of what a company is worth, using DCF, EV/EBITDA comparables, and NAV methods under IVS and Ind AS. It is required for SEBI transactions, Rule 11UA fair market value determination, RBI FEMA cross-border pricing, and IBBI insolvency proceedings. Corvian Advisory delivers fixed-fee reports from INR 1,25,000 in 2–4 weeks, with direct experience across the UAE-India corridor, one of the GCC's busiest cross-border deal routes.

Rigorous, IVS & Ind AS-compliant business valuation for Indian companies, plus target valuation for the UAE–India corridor, one of the GCC's busiest cross-border deal routes. Led by our senior CFA, CA and ACCA qualified team. Fixed fee from INR 1,25,000.

$5.5B+
UAE–India Deal Flow
INR 1.25L+
Fixed Fee From
2–4 Wks
Delivery
India Desk CFA & ICAI CA Qualified RBI FEMA & Rule 11UA Experience IVS & Ind AS Compliant
The UAE–India Corridor

SEBI, IBBI & RBI FEMA Compliance

A large Indian diaspora, the CEPA trade agreement, and Dubai's role as a regional base for Indian conglomerates make UAE–India one of the busiest deal corridors in the region. We prepare valuations compliant with SEBI, IBBI, RBI FEMA pricing guidelines and Rule 11UA.

We advise Indian acquirers entering the UAE, and UAE businesses seeking Indian capital, partners or exits, across technology, healthcare, real estate and F&B.

India-Specific Considerations

Standards We Apply

RBI FEMA pricing guidelines and Rule 11UA valuation for cross-border share transfers.
SEBI and IBBI-aligned methodology for listed and insolvency-linked valuations.
CEPA trade agreement structuring considerations where relevant.
Target valuation for Indian corporates and family offices acquiring UAE/GCC businesses.
Ind AS-aligned financial reporting valuation for Indian group entities.
GCC comparable transaction benchmarking alongside Indian market data.
Valuation Methods

Valuation Methods Used for Indian Businesses

Method 01

Discounted Cash Flow (DCF)

Free cash flows discounted at a WACC calibrated for India country risk, sector growth, INR/USD FX, and the India growth premium in high-growth sectors like SaaS and D2C. Prescribed under Rule 11UA for unlisted share FMV.
Best for growth companies, startups, Rule 11UA FMV, FEMA pricing.
Method 02

EV/EBITDA & Revenue Multiples

Benchmarked against sector-specific transaction multiples from India, APAC, and comparable global markets. Pre-profit SaaS/tech uses ARR or Revenue multiples calibrated to India's listed tech comp set.
Best for M&A, SEBI open offers, listed company fairness opinions.
Method 03

Net Asset Value (NAV)

Fair value of underlying assets minus liabilities, prescribed under Rule 11UA as an alternative to DCF. Relevant for NBFC/financial services firms and holding companies.
Best for NBFCs, holding companies, manufacturing groups.
Method 04

Intangible Asset Valuation (Ind AS 103)

For PPA under Ind AS 103, we value intangibles using Relief from Royalty, Multi-Period Excess Earnings, and Cost approaches, allocating residual goodwill for Big 4 audit review.
Best for post-acquisition PPA and M&A targets with significant intangibles.
Transparent Pricing

Business Valuation Fees in India

SME / Startup
₹1,25,000–4,00,000
ESOP / Rule 11UA, angel round, partner buyout, bank financing. DCF + NAV (Rule 11UA methods).
Mid-Market M&A
₹4,00,000–12,00,000
M&A transactions, SEBI filings, FEMA FDI/ODI pricing, shareholder disputes, cross-border India-UAE.
Complex / Ind AS 103
₹12,00,000+
Ind AS 103 PPA, IBBI insolvency, listed company fairness opinions, multi-entity groups.
Our Promise: fixed fee agreed before any work begins. No hourly billing. All India valuations invoiced in INR or USD at your preference.
Full Service Range

Every Valuation Service for India & Cross-Border Deals

FEMA
RBI FEMA Pricing Valuation
Rule 11UA and FEMA pricing guideline compliant valuation for cross-border share transfers.
M&A
India M&A Valuation
Buy-side and sell-side valuation for Indian corporate and family office transactions.
Cross-Border
India–UAE M&A Valuation
Target valuation and financial due diligence for Indian acquirers entering the UAE and GCC.
Compliance
SEBI / IBBI-Aligned Valuation
Methodology aligned with SEBI and IBBI standards for listed and insolvency-linked matters.
Reporting
Ind AS Fair Value Valuation
Fair value measurement for Indian group entities under Ind AS financial reporting standards.
Trade
CEPA Structuring Advisory
Valuation incorporating CEPA trade agreement structuring considerations where relevant.
Market Data

Typical Valuation Multiples – India Market

SectorEV/EBITDA Multiple
Technology / IT Services10–20x
Healthcare & Pharma8–16x
Financial Services8–14x
Real Estate5–9x
F&B and Retail4–8x
Manufacturing4–8x
In Plain Terms

Why a UAE-Based Valuer for an India Report?

A registered valuer in India knows RBI FEMA and Rule 11UA requirements well, but rarely has GCC exposure; a UAE generalist firm has the reverse gap. We handle the full UAE-India transaction ourselves — a CFA Charterholder signs every report, for a fixed fee agreed upfront — rather than routing either half through a referral partner who doesn't know the other side.

Illustrative Engagements

Cross-Border Experience

Cross-Border Buy-Side

Indian Conglomerate UAE Target Valuation & FDD

An Indian conglomerate evaluating a UAE distribution business engaged us for target valuation and FEMA-compliant financial due diligence.

Outcome
Deal closed with RBI FEMA pricing guideline documentation fully in place.
Family Office

Indian Family Office UAE Real Estate Platform Valuation

An Indian family office required valuation support for a UAE real estate services platform acquisition, benchmarked against Ind AS standards.

Outcome
Valuation accepted by the family office investment committee without revision.
Rule 11UA

Cross-Border Share Transfer Valuation

A UAE business restructuring required Rule 11UA-compliant valuation to support an Indian shareholder's share transfer.

Outcome
Documentation accepted by Indian tax authorities with no adjustments.
Our Process

How the Process Works

01
Initial Consultation

No-obligation call covering purpose, timeline and FEMA/Rule 11UA scope.

02
Information Gathering

Financials collected via secure data room, in INR or local currency.

03
Analysis & Draft

Methodology applied, benchmarked against Indian and GCC comparables.

04
Final Report

IVS/Ind AS-compliant report delivered within agreed timeline.

Client Reviews

What Clients Say

"Corvian's FEMA-compliant valuation gave our board the defensible framework we needed for our UAE acquisition."

Group CFO, Indian Conglomerate

"The Ind AS-aligned valuation for our UAE real estate platform was thorough and accepted without revision."

Investment Director, Indian Family Office

"Rule 11UA documentation was accepted by Indian tax authorities without a single query."

General Counsel, UAE-India Cross-Border Group
Frequently Asked

Business Valuation India – FAQ

How much does a business valuation cost in India?
INR 1,25,000 to INR 12,00,000+ depending on complexity. Fixed-scope, agreed before work begins.
Do you value UAE businesses for Indian conglomerate buyers?
Yes, target valuation and financial due diligence for Indian corporates and family offices acquiring UAE and GCC businesses.
Is your valuation RBI FEMA compliant?
Yes, reports incorporate RBI FEMA pricing guidelines and Rule 11UA considerations for cross-border share transfers.
Do reports account for CEPA trade agreement implications?
Where relevant, we incorporate CEPA-related structuring considerations into our advisory scope.
How long does an India valuation take?
2 to 4 weeks typically, depending on complexity and cross-border scope.
How does Indian Corporate Tax affect a business valuation?
Domestic companies are taxed at 25% (turnover up to INR 400 crore) or 30% above, with a concessional 15-22% regime for qualifying companies. We build the correct post-tax cash flow based on the applicable regime.
Has Angel Tax been abolished in India?
Yes. Section 56(2)(viib) 'Angel Tax' was abolished for all investor classes from FY2024-25, removing a major friction point for startup fundraising. We still document Rule 11UA fair value for other purposes.
Do you support IBC/IBBI insolvency resolution valuations?
Yes, we provide registered valuer-quality valuations for Corporate Insolvency Resolution Process proceedings under the Insolvency and Bankruptcy Code.

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