Capability group

Corporate finance

Five kinds of work, one reader. On the other side of each is a credit committee, an acquirer’s finance team or an investment committee, all reading for the same thing — whether the numbers in front of them are carried by documents that exist.

So the work is not the deck. It is the file, and whether it arrives before the date that decides everything else.

M&A advisory, through post-merger integration

Sell-side and buy-side: the memorandum and the data room, the target list, diligence responses, and the agreement negotiated alongside counsel.

Integration is the part most processes drop, because most advisors are paid at close. It is the first combined month-end that ties, and two working capital cycles reconciled — a target that collects more slowly than its buyer consumes the cash the deal model treated as free.

We engage at: Mandate, or at signing where integration was never scoped.
You are left with: A signed transaction, and a consent register with an owner and a date on every line.

Debt syndication

Structuring, lender selection, and the process through to sanction and drawdown.

The repo rate fell 125 basis points across calendar 2025, from 6.50% to 5.25%, and has been held there since — unchanged again on 5 August 2026. A facility sanctioned at the 2023–24 peak is priced against a benchmark that has moved and a spread that has not, so what decides whether the cut reaches you is that spread, the reset your documents provide for, and what a prepayment costs. The cut already happened. Does your facility know it yet?

On a new requirement we settle the shape first, then work a shortlist rather than a broadcast — a file declined by fifteen lenders is harder to place than one sent to four who lend into that structure.

We engage at: Before any lender has seen the file, or on a facility not repriced since the cycle turned.
You are left with: A sanction with its conditions precedent sequenced, and a drawdown that is not waiting on a document.

125 bps

cut across calendar 2025 — repo from 6.50% to 5.25%

5.25%

where the repo rate has stayed since; unchanged 5 August 2026

Reserve Bank of India — Monetary Policy Committee decisions to August 2026.

Equity fundraising

Growth and development equity: positioning, the investor list, the data room, diligence management, and the terms.

What decides the outcome usually happens before the first meeting: an ESOP pool promised but never issued, a share transfer never filed with the ROC — each is two weeks of delay in diligence and a discount in negotiation. And the value moves in liquidation preference, anti-dilution and exit rights, not in the valuation founders negotiate hardest.

We engage at: Before the process starts, while the cap table can still be changed.
You are left with: A closed round, and a diligence file the next round can be run from rather than rebuilt.

C&I solar asset transactions

Acquiring and divesting operating C&I solar portfolios, and financing or refinancing the assets inside them.

It sits here rather than in the renewables practice because the offtaker is a company, not a DISCOM — so the credit assessment is corporate credit and the tenor is shaped by a negotiated PPA rather than by a regulated tariff.

We engage at: Portfolio acquisition or divestment, and at the financing or refinancing of an operating asset.
You are left with: A closed transaction, with the offtaker credit documented in the form a buyer or a lender will test it in.

Transaction due diligence

Financial and commercial due diligence for acquirers and investors, and financial statement analysis prepared for lender and investor packs.

Quality of earnings and quality of assets: working capital normalised so the closing adjustment is not argued after signing, and the debt-like items nobody calls debt — unfunded gratuity, disputed statutory demands, related-party balances that will not settle.

Where the payer is a government scheme, an insurer or a state department, that becomes quality of collected earnings: billed and banked are two different calendars, and administered rates are repriced by circular rather than negotiated.

We engage at: After a term sheet, and before the credit committee date.
You are left with: Findings quantified and mapped to price, to structure, or to a condition precedent.

Questions we answer in the first conversation

Repricing: Our facility has not moved since 2023–24. Repricing with the incumbent, or refinancing elsewhere once prepayment is counted?
Lenders: Which lenders are genuinely active in this structure this year, and where is the market thin enough that approaching it widely does damage?
Timeline: How long is sanction to first drawdown on a file like this, and which conditions precedent actually slip?
The switch point: When does borrowing transaction by transaction stop being the answer, and a structured facility start?

Bring us the constraint

The useful first message is what is fixed: the date, the counterparty, the sanction condition you cannot clear. That is enough for us to say whether we can help inside that window — and enough to say when we cannot.

Answer the five questions