Fairness Opinion Services

Independent Opinion on the Financial Fairness of Strategic Corporate Transactions

Significant corporate transactions require boards of directors, shareholders, and management to assess whether the proposed consideration is financially fair from a valuation perspective. Our experts provide independent and objective Fairness Opinions for mergers and acquisitions, business restructurings, share swap transactions, preferential allotments, and other strategic corporate actions. Our Fairness Opinions support informed decision-making, strengthen corporate governance, enhance stakeholder confidence, and assist in meeting applicable regulatory and fiduciary requirements.

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What is a Fairness Opinion?

A Fairness Opinion is an independent professional opinion that assesses whether the financial consideration proposed in a transaction is fair, from a financial perspective, to the relevant stakeholders. Unlike a valuation report, which determines the fair value of a business or asset, a Fairness Opinion evaluates whether the agreed transaction price falls within a reasonable range based on an independent valuation analysis. Our experts provide independent Fairness Opinion services in accordance with the Companies Act, 2013, SEBI Regulations, FEMA, and other applicable regulatory frameworks, supporting sound corporate governance, regulatory compliance, and informed decision-making.

Mergers & Amalgamations
Acquisitions & Business Disposals
Related Party Transactions
Share Swap Transactions
Open Offers & Delisting Transactions

What Decision are you making?

Select the transaction requiring a fairness opinion. Our independent fairness opinions help boards of directors, shareholders, and stakeholders evaluate whether the proposed transaction is financially fair while supporting regulatory compliance and informed decision-making.

Designed for boards of directors, promoters, listed companies, investors, merchant bankers, legal advisors, and corporate professionals evaluating significant corporate transactions.

Mergers & Amalgamations

Provides an independent opinion on the financial fairness of the proposed merger consideration and share exchange ratio to support board and shareholder approvals.

Acquisitions & Business Disposals

Evaluates whether the proposed purchase or sale consideration for a business or investment is fair from a financial perspective.

Related Party Transactions

Provides an independent assessment of transaction pricing between related parties to enhance transparency and support regulatory compliance.

Share Swap Transactions

Assesses whether the proposed share exchange ratio is financially fair to the shareholders of the participating entities.

Open Offers & Delisting Transactions

Provides an independent opinion on the fairness of the offer price in accordance with applicable SEBI regulations, where required.

Preferential Allotments

Supports boards and stakeholders by evaluating whether the proposed issue price is financially fair in strategic investment and capital-raising transactions.

Our Valuation Methods, Simplified

Discounted Cash Flow (DCF) Method

Determines value based on the present value of expected future cash flows.

Market Approach

Determines value using comparable listed companies and market transactions.

Guideline Company Method

Estimates value by applying valuation multiples of comparable publicly traded companies.

Guideline Transaction Method

Determines value using pricing multiples observed in comparable merger, acquisition, or investment transactions.

Net Asset Value (NAV) Method

Determines value based on the fair value of underlying assets less liabilities, particularly for asset-intensive businesses.

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