RBSA is an international valuation and investment banking advisory firm with offices around the world. It provides valuation, investment banking, and advisory services globally, with a focus on valuation including business valuation, intangible asset valuation, real estate valuation, and more. It also offers investment banking services such as mergers and acquisitions advisory, corporate finance advisory, and debt/equity capital raising. RBSA has extensive experience performing valuations for financial reporting, transactions, disputes, and other purposes for large corporate clients across multiple industries.

1. Valuation
Investment Banking
Advisory Services
w w w. r b s a . i n
Leadership
Years of

2. RBSA is a leading global independent
Valuation and Investment Banking
Advisory firm. RBSA with its own
offices in India, USA, Singapore and
Middle East and trusted WorldVal
affiliates across Australia, China, Africa,
Europe, Russia, UK, USA & Brazil
provides Clients with seamless &
Worldwide Valuation & Transaction
Advisory services.

3. Global Presence - RBSA
www.rbsa.in
RBSA is a leading global independent Valuation and Investment Banking Advisory
firm.
RBSA delivers trusted advice, principally in the areas of Valuation, Investment
Banking and Advisory Services. The firm's world class capabilities and resources,
combined with an agile and responsive delivery, distinguishes the RBSA client
experience.
We serve Global clients, with an excellent local domain knowledge and expertise
across key geographies. We have service capabilities across the full spectrum of
Valuation including
• Business & EquityValuation
• FinancialReporting & TaxValuations
• Brand & IntangibleAsset Valuation
• Industrialand Plant& Machinery Valuation
• Real Estate Valuation
• Mines & Mineral Reserve Valuation
• SpecializedAsset and Infrastructure Valuations
Our Investment Banking practice, a SEBI Registered Category I Merchant Bank,
focuseson Fund Raising requirementsforMid-Market and Emerging Companies.
We also have an active and strong Fairness Opinion practice with an established
clientbase amongst large public listed and multinational companies.
Years of
Leadership

4. We deliver trusted advice, principally in the areas of
Valuation, Investment Banking and Advisory Services.
Throughout the past four decades of our existence we
have been on a forefront in providing independent,
professional, ethical and high quality Services.

5. Client Focus
World Class
We firmly believe that the best way to a secure future is to
continually improve and expand our services to our clients.
Making sure they are totally satisfied is paramount in all we
do which is why we place total emphasis on team work with
clients, tailoring each aspect of the project to their precise
requirements
Clients rely upon RBSA for the right direction at right time
and for assistance needed to achieve identified goals.
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. 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 make RBSA a world class
company.
We see more than Businesses and Assets. We see your
problems and understand your objectives, see the value
underlying your company and deliver the best solutions and
results.
We firmly believe in the philosophy of ‘Our Asset Our People’.
We take pride in a team of highly qualified, skilled and
motivated Professionals who are encouraged to lead,
innovate and excel. Our team consists of top professionals
who share a common vision and passion, providing our
clients with critical insights and advise to succeed in today's
competitive environment.
Our Asset
‘Our People’

6. Services
Valuation
Investment Banking
Advisory Services

7. Valuation Advisory
Business Valuation
Valuation of Brands, Intangible Assets & Intellectual Property
Valuation of Financial Securities, Instruments and Derivatives
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
Mines, Mineral Advisory and Valuation
Valuation of ESOPs and Sweat Equity
Valuation for Tax, Transfer Pricing and Company Law Matters
Fairness Opinions
Advisory Services
Financial Advisory for Dispute & Litigation
Valuation & Financial Advisory Services
Loss Assessment, Damages & Loss of Profit Analysis
Independent Expert testimony
Anti-trust & Competition Advisory
Post-Acquisition Disputes, Joint Venture & Shareholder Disputes
Civil & Construction Disputes, Real Estate Disputes
Environment Damage Assessment
Intellectual Property Rights Dispute
Forensic Audit
Strategic & Risk Advisory Services
Techno Economic Feasibility Studies
Economic Viability & Financial Appraisal
Business Plan Formulation
Real Estate Advisory Services
Financial Modelling, Highest & Best Use Studies
Investment Related Due-Diligence Exercises
Infrastructure Advisory Services
Bid Advisory and Bid Process Management
Preparation of Information Memorandums
Preparation of Detailed Project Reports
Technical Assurance Services
Technical Due Diligence Reviews for Mergers & Acquisition
Lender’s & Investor’s Engineer Services
Independent Engineer’s Services
Technical Opinion and Audits
Chartered Engineers Opinion and Certification
Project Cost Investigation and Forensic Advisory
Project Appraisal and Monitoring
Transfer Pricing
Cost Segregation Studies
Investment Banking (SEBI Registered CAT I Merchant Bank)
Mergers & Acquisitions
Transaction Structuring & Advisory
Due Diligence - Financial, Tax and Business
Fairness Opinions
Corporate Finance & Advisory
Private Equity and Venture Capital
Debt Solutions and Syndications
Partner Search and Joint Ventures
Corporate Restructuring, Business Reorganization

8. RBSA is an international, independent
and full service Valuation firm. We are
an Internationally Recognized and
Respected Brand having leadership
position in Valuation Consulting.
We provide . . .
“Worldwide Valuation Services”

9. Valuation
Business Valuation
Valuation of Brands, Intangible Assets & Intellectual Property
Valuation of Financial Securities, Instruments and Derivatives
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
Mines, Mineral Advisory and Valuation
Valuation of ESOPs and Sweat Equity
Valuation for Tax, Transfer Pricing and Company Law matters
Fairness Opinions

10. The Valuation Advisory Services of RBSA cover the complete spectrum of purposes
for which valuation advice may be required, such as
Valuation Advisory
Mergers & Acquisitions - Pre Deal Advisory & Valuation
Fairness Opinions
Financial Reporting under Indian GAAP, IFRS & US GAAP
Purchase Price Allocations for Mergers & Acquisitions
Fair Value Accounting
Portfolio Valuations for Private Equity & Real Estate Funds
Impairment Studies for Tangible Assets, Intangible Assets
Goodwill Impairment
Banking (Lending against Assets)
Distress Assets / Non Performing Assets
Courts & Litigation Support
Management Information & Strategic Planning
Insurance
Taxation & Regulatory Affairs
Transfer Pricing
ESOPs & Sweat Equity
Initial Public Offerings
Securitization
Cost Investigations
Quantity Surveying and Estimation
Proposed Acquisition of Ras Lanuf Refinery of Libya by Indian Oil
Corporation
Valuation of Fixed Assets of various Automobile companies for the
purpose of Acquisition / Financial Reporting

11. Business, Equity & Financial Valuations
Listed and Unlisted Companies
Closely Held Businesses
Portfolio Valuations
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
Valuation of Brands, Intangible Assets & Intellectual
Property
Goodwill, Brands, Trade Marks, Copyrights, Patents
Designs, Licenses Software and IT Products, Databases
Technological Know-how, Human Resources
Engineering Drawings, Industrial Designs
Customer Contracts & Relationship, Customer lists
Distribution Rights & Network
Franchises and Licensing Agreements
Non compete agreements
Valuation of Industrial Assets, Plant & Machinery
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
Valuation of Real Estate
Residential, Commercial Real Estate
Retail Spaces, Shopping Malls, Multiplexes
IT Parks
Petrol Pumps
Hotels & Hospitality Properties
Industrial Properties etc.
Valuation of Infrastructure Assets
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
Mines, Mineral Advisory and Valuation
Due Diligence, Valuation & Advisory
Mining Feasibility Studies
Mineral Reserve Certifications
Review of Operations, Mining Leases
Technical Opinions
Stock and Inventory Valuations, Stock Audits
Valuation of ESOPs and Sweat Equity
Valuation of Specialized Assets
Fairness Opinions
- Valuation Advisors

12. Valuation for Financial
Reporting
Our skill and exposure to deliver unbiased fair value analysis in
the new financial reporting requirements brings the much
needed clarity to various stakeholders, auditors,
regulators, investors, etc.
• Fairness Opinions for Mergers & Acquisitions
• Business Combinations : Valuation for Purchase Price
Allocations under IFRS and US GAAP (IFRS 3 or SFAS
141/142) for Mergers & Acquisitions
• Valuation of Tangible and Intangible Assets, Goodwill for
First Time Adoption under IFRS
• Impairment Reviews and Valuation for Tangible and
Intangible Assets, Goodwill under IAS 36 and AS 28
• Valuation of Tangible & Intangible Assets for Merger,
De-Merger & Reorganizations
• Share Based Payments
• Fair Value Accounting
• Valuation of Financial Instruments, Derivatives and
Securities under AS 30, 31 & 32
• Valuation of ESOPs and Sweat Equity
• Valuation for Tax, Transfer Pricing and Company Law
matters
RBSA specializes in Valuation and Advisory for Financial Reporting of large public
listed companies. We have performed numerous complex, domestic and
cross-border Financial Reporting engagements involving leading Corporates
across various industries. Our qualified and experienced professionals have
experience in a wide range of valuation and financial reporting issues.
Valuation of entire Real Estate Portfolio of HDFC Bank for Basel II Capital
Adequacy
Valuation of Generation Assets - Power Plants, Transmission Assets &
Distribution Assets of Reliance Infrastructure

13. Purchase Price Allocation
Purchase Price Allocation (PPA) poses a complex challenge
for the acquiring company. The process involves
determining the purchase price, identifying hidden
reserves and charges reflected in the assets and liabilities
shown in the acquiree’s balance sheet, as well as
identifying and valuing intangibles assets and liabilities
previously not recognized in the acquiree’s balance sheet.
PPA requires companies to report the Fair Value of assets
and liabilities acquired in their financial statements.
We conduct an analysis of business plan which enables
identification of central value drivers of the acquired
company and provides an understanding of the amount
and composition of the purchase price paid, the fair values
of tangible and intangible assets acquired, the liabilities
assumed and the residual goodwill.
ImpairmentReviews
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 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.
Fair Value Accountingunder IFRS
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 regardlessof the acquirer's intentions.
Valuation for Merger of JSW Steel & Ispat Steel
- Valuation Advisors

14. RBSA has acted as a Financial Advisor to BP for Valuation of Oil
& Gas Reserve & Resources of Reliance Industries Ltd. in the
KG basin (including the well known KGD6 block).
RBSA as a part of their Extractive Industries and Natural
Resources Practice, has also carried out Valuation, Due
Diligence and Financial Analysis of Mines and deposits
representing more than 90% Copper Reserves, more than
90% of Zinc Reserves and more than 85% of Lead Reserves of
the Country (India).
The main services include Due Diligence, Valuation and
Advisory, Feasibility Studies, Review of Operations, Mining
Leases and Technical Opinions.
We have performed Mining Valuation for major crude oil &
natural gas reserves, metals & minerals like coal, Iron ore,
copper, zinc, lead, potash, limestone, chrome, rock
phosphate etc.
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.
Mines & Mineral Reserves,
Oil & Gas Reserves Valuation,
Due Diligence and Advisory
Valuation of Mines and Mineral Reserves of Hindustan Zinc Ltd. and
Hindustan Copper Ltd.
Valuation of Petroleum, Oil & Gas Reserves

15. Banking and Finance
Increasingly companies are realizing that the majority of
their value lies in intangible assets like brands, copyrights
or patents. More and more bankers and financial
institutions are agreeing to securitize and fund against
reputed brands and strong intangibles as collateral
security.
RBSA provides a number of related services, including:
Brand & Intangible Due Diligence
Securitization & Leveraging of Brands & Intangible Assets
Financial Reporting and Valuation
Valuations are required for:
Purchase Price Allocations & Impairment Reviews
Tax planning
Transactions and Dispute Resolution
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
Royalty Rate determination
Valuation of Brands,
Intangible Assets &
Intellectual Property
- Valuation Advisors

16. BP (British Petroleum) and Reliance Industries have entered into a Strategic Partnership, whereby BP
acquired a 30% participating interest in 21 Oil & Gas Blocks - Production Sharing Contracts that Reliance
operates in Indiaat a price of USD 7.02 Billion.
RBSA has acted as a Financial Advisor to BP for Valuation of Oil & Gas Reserve & Resources of Reliance
Industries Ltd. in the KG basin (including the well known KGD6 block).
Government of India, Department of Disinvestment, has appointed RBSA Advisors as a Financial Advisor
& Merchant Banker for Valuation of Equity Shares of Hindustan Zinc Ltd. (HZL) for potential stake sale.
HZL has a Market Capitalization of more than USD 12 Billion as on the date and Government holds 29.54 %
stake in the company – the residual stake sale is expected to fetch more than USD 4 Billion.
Valuation Advisors
Financial Advisor to the Govt of
India, Ministry of Finance
(Department of Disinvestment)
for the proposed USD 4 Billion
residual stake sale in Hindustan
Zinc Ltd.
HINDUSTAN ZINC LIMITED
Valuation Advisors
Financial Advisor to BP for
Valuation of Oil & Gas Reserve
& Resources of Reliance
Industries in the KG basin
(including the well known
KGD6 block)

17. GAIL Gas Ltd., a subsidiary of GAIL (India) Ltd. has formed Joint Venture with Vadodara Municipal
Corporation forCity Gas Distribution Business.
RBSA has acted as an Exclusive Transaction Advisor for the said engagement.
Alliance Tire Group is a leading manufacturer of Off-Highway Tires globally. Warburg Pincus, A Private
Equity Fund has sold its majority stake in ATG B. V. Netherlands to Kohlberg Kravis Roberts & Co.
RBSA acted as Financial Advisor to Warburg / ATG for Valuation of ATG Group transaction. The deal was
Valued at over USD 650 Million.
Valuation Advisors
Financial Advisory Services for
Valuation of Equity shares of
Alliance Tire Group B. V.
Netherlands, Israel Business
and US Business for Management
Review and Tax purposes
Exclusive Transaction Advisors
Acted as Exclusive Advisors for
Joint Venture / Merger of City
Gas Distribution Business of
Gail, Gail Gas and VMSS at
Vadodara City
GAIL(India)Limited

18. RBSA is a founder 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
Clientswith seamless & WorldwideValuation 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.
Global Alliances

19. Our US Affiliate, SRR is a global financial advisory firm specializing in
Investment Banking, Valuation & Financial Opinions and Dispute
Advisory & Forensic Services. They serve range of clients from
Fortune 500 corporations to privately held companies in numerous
industries around the world. Their clients rely on SRR’s premier
expertise, deep industry knowledge, and unparalleled
responsiveness on complex financial matters.
SRR has been ranked the #1 Fairness Opinion Advisor in the United States and #1 globally in the Thomson
Reuters M&A Financial Advisory Review (Full Year 2014). The rankings are based on the number of
transactions forwhich the firm served as advisor.
Morgan Stanley 6
Advisor Rank
Source : Thomson Reuters (2014)
Stout Risius Ross, Inc. 1
JP Morgan 5
Sandler O’Neill Partners 7
Goldman Sachs & Co 8
Barclays 9
Stifel / KBW 3
Houlihan Lokey 4
Bank of America Merrill Lynch 10
Duff and Phelps 2
Source : Thomson Reuters (2013)
Advisor Rank
Duff and Phelps
JP Morgan
Stout Risius Ross, Inc.
Stifel / KBW
Sandler O’Neill Partners
Houlihan Lokey
Bank of America Merrill Lynch
Goldman Sachs & Co
Morgan Stanley
Evercore Partners
1
2
3
4
5
6*
6*
6*
9
10

20. Our Investment Banking practice, a
SEBI Registered Category I Merchant
Bank, focuses on Fund Raising
requirements for Mid-Market and
Emerging Companies. We also have
an active and strong Fairness Opinion
practice with an established clientele
amongst large public listed and
multinational companies.

21. Investment
Banking
(SEBI Registered CAT I Merchant Banker)
Mergers & Acquisitions
Transaction Structuring & Advisory
Due Diligence - Financial, Tax and Business
Fairness Opinions
Corporate Finance & Advisory
Private Equity and Venture Capital
Debt Solutions and Syndications
Partner Search and Joint Ventures
Corporate Restructuring, Business Reorganization

22. RBSA Capital Advisors LLP, a group company, a SEBI Registered Category I
Merchant Bank, focuses on Fund Raising requirements for Mid-Market and
Emerging Companies.
RBSA Capital Advisors also has an active and strong Fairness Opinion practice,
with an established client base amongst large public listed companies.
Investment Banking
The assortment of services spans across :
• Mergers, Acquisitions, Joint Venture and Strategic
Transactions
• Fairness Opinions
• Capital Issues Management - Initial Public Offers, Follow-
on Public Offers, Rights Issues, Qualified Institutional
Placements
’’ Open Offer Management
’’ De-Listing and Buyback
’’ Private Equity Syndication
’’ Debt Syndication and Placement
Project Finance - Term & Working Capital Finance
Financing of Infrastructure Projects
Debentures, Commercial Paper & Other Securitized
Debts
Overseas Debt Funding in the form of ECB’s
’’ Corporate Restructuring / Business Reorganization
’’ Other Capital Market / Merchant Banking Services -
Valuers and Advisors for ESOPs, Sweat Equity
’’ Due Diligence - Financial, Tax and Business
Arrangement of Consortium Finance and External Commercial Borrowing
for Industry
RBSA Capital Advisors LLP, a group company, a SEBI Registered Category I
Merchant Bank, focuses on Fund Raising requirements for Mid-Market and
Emerging Companies.
RBSA Capital Advisors also has an active and strong Fairness Opinion practice,
with an established client base amongst large public listed companies.
Investment Banking
The assortment of services spans across :
• Mergers, Acquisitions, Joint Venture and Strategic
Transactions
• Fairness Opinions
• Capital Issues Management - Initial Public Offers, Follow-
on Public Offers, Rights Issues, Qualified Institutional
Placements
ž Open Offer Management
ž De-Listing and Buyback
ž Private Equity Syndication
ž Debt Syndication and Placement
Project Finance - Term & Working Capital Finance
Financing of Infrastructure Projects
Debentures, Commercial Paper & Other Securitized
Debts
Overseas Debt Funding in the form of ECB’s
ž Corporate Restructuring / Business Reorganization
ž Other Capital Market / Merchant Banking Services -
Valuers and Advisors for ESOPs, Sweat Equity
ž Due Diligence - Financial, Tax and Business
Arrangement of Consortium Finance and External Commercial Borrowing
for Industry

23. Fairness Opinions
A fairness opinion is a financial advisor's 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
dissidentshareholder claims.
Fairness Opinion & Due Diligence
Merger / Joint venture of City Gas Distribution business for GAIL & VMSS
Acquisition of Port & Warehousing Facilities in UAE on behalf of an Indian
Group
- Investment Banking
Due Diligence – Financial,Tax and Business.
A due diligence is an essential part of the review and
assessment of any investment opportunity, disposal,
reorganization, listing and especially required for Merger
and Acquisition purposes. The scope of the due diligence will
depend on the size and scale of the transaction and the
surrounding risks. The key findings of the due diligence
review would include factors that will impact the pricing of
the transaction, possible warranties that should be sought
by the buyer/seller and potential post acquisition integration
issues. RBSA has an extensive experience in all aspects of due
diligence and has served several corporate firms and
investors.

24. Financial Advisory for Dispute & Litigation
Valuation & Financial Advisory Services
Loss Assessment, Damages & Loss of Profit Analysis
Independent Expert testimony
Anti-trust & Competition Advisory
Post-Acquisition Disputes, Joint Venture & Shareholder Disputes
Civil & Construction Disputes, Real Estate Disputes
Environment Damage Assessment
Intellectual Property Rights dispute
Forensic Audit
Strategic & Risk Advisory Services
Techno Economic Feasibility Studies
Economic Viability & Financial Appraisal
Business Plan Preparation
Real Estate Advisory Services
Financial Modelling, Highest & Best Use Studies
Investment Related Due-Diligence Exercises
Infrastructure Advisory Services
Bid Advisory and Bid Process Management
Preparation of Information Memorandums
Preparation of Detailed Project Reports
Technical Assurance Services
Technical Due Diligence Reviews for Mergers & Acquisition
Lender’s & Investor’s Engineer Services
Independent Engineer’s Services
Technical Opinion and Audits
Chartered Engineers Opinion and Certification
Project Cost Investigation and Forensic Advisory
Project Appraisal and Monitoring
Transfer Pricing
Cost Segregation Studies
Our Advisory Services 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.
Advisory Services

25. Independent Engineer and
Technical Due Diligence
IndependentEngineer’s Services (IE)
An Independent, Lender’s or Investor’s Engineer in any
Industrial, Real Estate or Infrastructure project principally
assures and ensures the correctness of the project
execution and its periodic reporting / monitoring to the
lenders / investors. This may also be extended to
verification of the completion of project and commissioning
of any Industry. The Role of an IE may differ from project to
project; however, the primary role remains risk mitigation
with technical & commercialassurance.
Technical Due Diligence
Technical Due Diligence forms a vital part of the services
offered by us. We review the technical and commercial
robustness of the Manufacturing facilities, Infrastructure
and critical Project contracts to support the financing of
the project or a target Due Diligence.
We perform Technical Due Diligence on the target
company for the acquirer / investor to make informed
and diligent acquisition decisions and understand risks
inherentin the deal.
Independent Engineer’s Services for Gujarat International Finance Tech
City (GIFT) project at Gandhinagar, Gujarat on behalf of consortium of
banks and FinancialInstitutions.
Technical Due Diligence across Industries for various purposes like M & A,
Investment, Restructuring, Financing etc.
- Advisory Services

26. Strategic & Risk Advisory Services
Strategic Advisory
Our Strategic Advisory practice positions risk as a strategic imperative given today's world of greater complexities, uncertainties
and accelerating change. RBSA supports clients in defining their strategy, formulating business objectives and managing
performance while achieving a striking balance between risk and reward. An organisation's ability to effectively mitigate risk and
capitalise on the opportunity is its growth differentiator in the market. Our teams work cross-functionally with the client to
identify risk in strategy, finance, operations and compliance, while distinctively integrating the traditional disciplines of risk
management.
Techno EconomicFeasibility Studies
Our multidisciplinary Strategic & Risk Advisory team conducts
Technical, Commercial & Financial Appraisal of proposed projects
& existing businesses.
We work with Lenders, Investors & Governments and provide
independent expert opinions on Techno Economic Viability of
Green Field/ Expansion Projects and Restructuring proposals. Our
team of experts assesses the risks associated with the investment
and advice on its mitigationstrategy.
RBSA has the capability to undertake Financial and Economic
appraisal studies for complex projects and restructuring
situations.

27. Financial Advisory
for Dispute & Litigation
Our multidisciplinary team of professionals advise clients and
their legal counsel as they address challenging financial and
economic aspects of today's complex disputes. We seek to
understand the unique aspects of each case and its underlying
issues and facts to assist our clients determine an effective
approach. We articulate our findings in an organized and
persuasive manner, whether in the form of a written report or
testimony in court as an Expert Witness & undergo effective
cross examination, if necessary.
We identify and analyze Valuation, Economic, Financial, Business
& Technical issues that are in dispute. We serve as Valuation
consultants, Financial consultants, Independent Expert
witnesses and Arbitrators. We support parties in negotiations
and mediations and help clients resolve commercial disputes
using our financial, technical, industry, data analytics and
technological skills.
Service Offerings:
Ÿ Civil & Construction Disputes, Real Estate Disputes
Ÿ Environment Damage Assessment
Ÿ Intellectual Property Rights dispute
Ÿ Forensic Audit
Ÿ Valuation & Financial Advisory Services
Ÿ Loss Assessment, Damages & Loss of Profit Analysis
Ÿ Independent Expert testimony
Ÿ Anti-trust & Competition Advisory
Ÿ Post-Acquisition Disputes, Joint Venture
& Shareholder Disputes
The core services offered by us includes :
- Advisory Services

28. Clients
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
Kotak Mahindra Bank
Indusind Bank
Citi Bank
Yes Bank
Development Credit Bank
Standard Chartered Bank
Punjab & Sind Bank
IFCI
SIDBI
State Bank of Patiala
State Bank of Indore
United Bank of India
LIC Housing Finance
Bombay Mercantile Co-op Bank
Woori Bank
DBS
Ratnakar Bank
ARCIL
Cement
ACC
Lafarge
Birla Cement
Binani Cement
Sanghi Cement
Grasim Industries
Aditya Cement
J. K. Cement
Dalmia Cement
Shree Cements
Mangalam Cement
Sagar Cements
Teba Cement Factory
FMCG
ITC
Coca Cola
Allanasons
KS Oils
Cargill
Café Coffee Day
Bunge India
Godrej Beverages & Foods (Nutrine)
Modern Foods
Esveegee Breweries (Gujarat Ambuja)
Jyothy Consumer Products
BSN Medical (Nivea)
Government & Public Sector
Government of India
Government of United States
Government of Rajasthan
Government of Punjab
Government of Uttar Pradesh
Life Insurance Corporation of India
Unit Trust of India
Air India
National Insurance Company
New India Assurance Co.
Food Corporation of India
Hotel, Hospitality & Entertainment
Taj Group of Hotels (Indian Hotels)
Le Meridien
India Tourism Development Corporation
Marriott Hotel
Highstreet Cruises and Entertainment
Aamby Valley
Duet India Hotels
Fort of Bundi
Sambhar Lake (270 Sq Kms Salt Producing Lake)
Reliance Big Entertainment
Cineline Entertainment (CineMax)
Adlabs Films
SAMHI Group
Deccan Chargers
Cavalli Club
Deccan Chronicle
SkyGourmet Catering
LSG Skychef
Gate Gourmet
Dharma Productions
The Lalit
Infrastructure
Air India (Indian Airlines)
Reliance Infrastructure
Reliance Energy
Kandla Port Trust
Hindustan Shipyard
GMR Group
Sembawang
NCC Infrastructure Holdings
Sambhar Lake, Dam, Salt Water Bodies
Container & Warehousing Corp.
Ahmedabad Urban Development Authority
IFFCO
L & T Infrastructure Finance Co.
National Highway Projects on BOT Basis.
ONYX Asia Services
Gujarat International Finance Tec-City (GIFT)
Ranjit Buildcon
Shapporji Pallonji
Iron & Steel
Stemcor
Essar Steel
JSW Steel
Jindal SAW
Bhushan Steel & Strips
Bhushan Power & Steel
Severfield Rowens PLC
Tata Steel & Strips
Steelcast
Ratnamani Metal & Tubes
JSW Ispat Steel
Jindal Stainless Ltd.
Automobile
Alliance Tire Group B. V
Maruti Suzuki
Punjab Tractors
Ashok Leyland
Tata Motors
Ficosa International
Minda Industries
Volvo
MICO - BOSCH
Swaraj Mazda
Eicher Motors
Royal Enfield
Tata Holset
ArvinMeritor
Cummins
Mahindra Ugine
Chemicals & Fertilizers
Henkel CAC
CABB, GmbH
GNFC
Rashtriya Chemicals and Fertilizers
ICI India
United Phosphorus
Nagarjuna Fertilizer & Chemicals
Clariant Chemicals
Chambal Fertilizers & Chemicals
Kiri Dyes & Chemicals
SPIC
Vertellus Specialties
Anil Starch
Tuticorin Alkali Chemicals & Fertilizers
Gujarat State Fertilizers and Chemicals
Brahmaputra Valley Fertilizer Corporation
Consultants
KPMG
PriceWaterHouse Coopers
Deloitte
BNP Paribas
BDO
SBI Capital Markets
Grant Thornton
Baker Tilly
Banking & Financial Institutions
Reserve Bank of India
State Bank of India
ICICI Bank
Punjab National Bank
Bank of India
Canara Bank
Bank of Baroda
IDBI Bank
HDFC Bank
Deutsche Bank
Unit Trust of India
Asset Reconstruction Company of India
Pegasus Asset Reconstruction
Union Bank
Central Bank of India
Axis Bank
Syndicate Bank
Indian Overseas Bank
Edelweiss
L & T Infrastructure Finance Co.

29. Adani Gas
Prize Petroleum Company
Hindustan Oil Exploration Company
Oil Field Instrumentation
Bongaigaon Refinery & Petrochemicals
Numaligarh Refinery
Greater Calcutta Gas Supply Corp.
Tide Water Oil Company
Pharmaceuticals
Glenmark Pharmaceuticals
Hospira
Ranbaxy
Torrent Pharmaceuticals
Aventis Pharma
Oman Chemicals & Pharmaceuticals
Aurobindo Pharma
Merck
Orchid Chemicals & Pharmaceuticals
Matrix Laboratories
Dishman Pharmaceuticals
Trident Life Sciences
Emmellen Biotech
Piramal Enterprises
EISAI
Daichi Sankyo
Alkem Laboratories
Power
Bharat Heavy Electricals
Gujarat Industrial Power Corporation
Himachal Pradesh State Electricity Board
CESC
Reliance Energy
Damodar Valley Corporation
Torrent Power
Jyoti Structures
Suzlon Energy
Schneider Electric
KEC International
Tata Power
Reliance Power
ABB Power
Real Estate
Shapoorji Pallonji & Co.
Tata Realty & Infrastructure
IREO
Emaar MGF
Shantigram Adani Township
Raheja Group
Kshitij
DLF
J P Infrastructure
Emerald Island
Aamby Valley
Horizon Realty Trust
IHHR Hospitality
Orchid Infrastructure Developers
Wadia Group
Lodha Group
Prestige
Mantri Group
Logistics
Bluedart Express
APL Logistics
CMA CGM
DHL Worldwide
Balmer Lawrie & Co.
Maersk India
Ameya Logistics
Deccan Cargo & Express Logistics
Stolt Tank Containers BV
UPS Group Companies
Fourcee Infrastructure
Metals & Mining Industry
Hindustan Zinc
Hindustan Copper
Manganese Ore
JSW Mining
Indian Rare Earths
Sociedade De Fomento International
Binani Group
Industrial Development Corporation of
Orissa
Kudremukh Iron Ore Co.
Ashapura Minechem
Stemcor
Manufacturing & Engineering
BHEL
Eaton Corporation
Sembawang Engineers and Constructors
Goldline Group
Senaat Group
Richardson & Cruddas
Hilti
Kirloskar Oil Engines
HMT
Voltas
Flat Products Equipment
National Engineering Industries
Private Equity / Venture Capital
Warburg Pincus
Kohlberg Kravis Roberts
Bennett Coleman & Co.
Indian Hospitality Corporation
Kshitij Venture Capital Fund
Horizon Realty Fund
Evolvence India
Navis Capital
Duet India Hotels
IHHR Hospitality
Petroleum, Petrochemicals, Oil and Gas
British Petroleum
Reliance Industries
Gas Authority of India (GAIL)
Shaleem Petroleum Co SAOC
Oil & Natural Gas Corporation (ONGC)
Indian Oil Corporation (IOCL)
Hindustan Petroleum Corporation
Bharat Petroleum Corporation
Ras Lanuf Refinery, Libya
National Textile Corporation
Tata Housing
National Buildings Construction Corporation
Construction Products International Co.
Telecom, Information Technology &
Electronics
Tata Consulting Services
Bharti Airtel
Reliance Communications
WNS Holdings
Hutchison Essar
FLAG Telecom
Cognizant Technologies
Tata Teleservices
Reliance Globalcom
Collabera
BPL Mobile
VANCO PLC
IBM Daksh e-Services
E Funds International
Alcatel
Nokia India
CMC
Foxconn India
Capita Offshore Business Services
Aksh Optifibre
Mastek
CNO
Textile & Leather
Eland
Oswal Woollen Mills (Monte Carlo)
National Textile Corporation (NTC)
Nandan Exim (Chiripal Group)
Tommy Hilfiger
Mudra Lifestyle
Amitara Industries
Krishna Knitwear
Mayur Uniquoters
Himatsingka Seide
Raymond
Bombay Rayons Fashions
Spykar
Others Industries
Pantaloons
Saint Gobain
Anchor
Orix Auto Infrastructure Services
Bell Ceramics
Formica
Pacific Pipe Systems (Doshion)
Triveni Bialetti Industries
Paper Products
Yatra
P & S Jewellery
Asian Granito
White Horse Ceramics
Ravin Cables
Ballarpur Industries
Manipal Group

30. Valuation Advisors
Proposed Acquisition of Ras Lanuf
R e f i n e r y o f L i b y a b y
Indian oil Corporation Ltd.
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:
Credentials
Valuation Advisors
Demerger and Restructuring of
Reliance Infrastructure Ltd. into
various Business Groups
Valuation Advisors
Merger of Air India and Indian
Airlines
Transaction Advisors
Valuation of KEL for proposed
Joint Venture with Bharat Heavy
Electricals Ltd.
Advisory Services
Due Diligence and Valuation of
Land & Real Estate for acquisition
by Maruti Suzuki across India
Technical Assurance Services
Independent Engineer Services
for GIFT City Project at Gandhinagar,
Gujarat on behalf of a Consortium of
Banks & Financial Institutions
Valuation Advisors
Valuation of Tangible Fixed Assets
of JSW Steel Ltd. & Ispat Steel Ltd.
for the Purpose of Merger
ISPAT
Valuation Advisors
Valuation of Tangible Assets,
Intangible Assets and Investments
of Voltas ltd. for Financial Reporting
under IFRS 1
Valuation of Assets of Strategic
Electronics Division (SED) for
Financial Reporting and
Management Review
Valuation Advisors
Impairment Review
Impairment Review of
Essar Steel Ltd.
Valuation & Purchase Price Allocation
Acquisition of L & T's Ready
Mix Concrete Business by Lafarge
LAFARGE
C E M E N T
Fairness Opinion
Fairness Opinion on Acquisition
of Decision Resources Group, USA
for Acquisition Financing Purposes
Valuation of Power Plants,
Transmission Assets & Distribution
Assets of Torrent Power AEC
Ltd. and Torrent Power SEC Ltd.
Valuation Advisors
Valuation Advisors
Financial Advisory Services for
Valuation of Equity shares of
Alliance Tire Group B. V.
Netherlands, Israel Business and
US Business for Management
Review and Tax purposes
Exclusive Transaction Advisors
Acted as Exclusive Advisors for Joint
Venture / Merger of City Gas
Distribution Business of Gail, Gail Gas
and VMSS at Vadodara City
GAIL(India)Limited
Acquisition of Orchid Chemicals
& Pharmaceuticals Ltd. by
Hospira, USA
Valuation & Purchase Price Allocation
Valuation Advisors
Exclusive Advisors for Due
Diligence and Valuation of Portfolio
of Real Estate Assets of various
Banks & Asset Reconstruction
Companies for Acquisition Purposes
Valuation Advisors
Valuation of Mines & Mineral
Reserves and Fixed Assets of
Binani Cement Ltd. Binani Zinc
Ltd., Goa Glass Fibre Ltd. BT
Composites & Binani Industries
Ltd. for IFRS 1 Purposes
CEMENT
Valuation of Gail Assets across
India having asset base of
more than Rs. 57000 Crores
for Insurance Purpose
Valuation Advisors
Valuation Advisors
Financial Advisor to the Govt of
India, Ministry of Finance
(Department of Disinvestment)
for the proposed USD 4 Billion
residual stake sale in Hindustan
Zinc Ltd.
HINDUSTAN ZINC LIMITED
Valuation Advisors
Financial Advisor to BP for
Valuation of Oil & Gas Reserve
& Resources of Reliance
Industries in the KG basin
(including the well known
KGD6 block)

31. Valuation Advisors
Valuation of Fixed Assets including
its plants at Hisar & Jaipur and
other Assets of Jindal Stainless Ltd.
Valuation Advisors
Valuation of Telecom Network
and Tower Assets of Hutchison
Essar (now Vodafone) for
Financial Reporting purposes
Technical Assurance Services
Technical Due Diligence of Maher
Capacitor Pvt. Ltd. for the
proposed acquisition by
Schneider Electric
Valuation Advisors
Valuation of Land Concession at
Hyderabad Airport and Delhi
Airport for the purpose of
Financial Reporting under
IFRIC 12 for GMR Group
Valuation & Fairness Opinion
Valuation of Matrix Laboratories
Limited and its various Global
Business Units for restructuring
by Mylan
Technical Assurance Services
Technical Due Diligence of Assets
of VE Commercial Vehicles
Valuation & Transaction Advisors
Valuation of Sezal Glass, Jhagadia,
Gujarat for its acquisition by Saint
Gobain. Valuation included Fixed
Assets, Intangible Assets, for
IFRS, Indian GAAP & Tax Purposes
Valuation & Transaction Advisors
Disinvestment of Stake in Bharti
Hexacom Ltd. by TCIL
Valuation Advisors
Brand Valuation of BILT for
Securitization and Fund Raising
purposes from International
Banks
Valuation Advisors
Valuation of Mines & Mineral
Reserves and Tangible Fixed
Assets & Intangible Assets of
Cement Business of Dalmia
Cement (Bharat) Ltd. for
Restructuring Purposes
Valuation Advisors
Valuation of Intangible associated
with Tommy Hilfiger Brand
Valuation Advisors
Valuation of Plant & Machinery
of Oman Chemicals and
Pharmaceuticals LLC, Oman for
Internal Management Review
and Restructuring
Acted as Co-Advisors for Valuation
of Equity Stake of The Investment
Dar, Kuwait in various Portfolio
Companies for Restructuring
purposes
Valuation AdvisorsFairness Opinion
Fairness Opinion for Acquisition of
Grain Silos and Port Infrastructure
at Hamriyah Port, Sharjah by
Allanasons
Fairness Opinion
Valuation of Equity Shares of
Karnalyte Resources Inc., Canada
for proposed Investment by
Gujarat State Fertilizers &
Chemicals Ltd.
Technical Assurance Services
Technical Due Diligence for
C o n s t r u c t i o n P r o d u c t s
International Co. (CPC), UAE for
its proposed Acquisition
Techno Economic Assessment
and Valuation of Khopoli Unit of
Shapoorji Pallonji Construction
Management Group for the
proposed Joint Venture
Technical Assurance Services Fairness Opinion
Valuation of Equity Shares of
Diligenta, UK for acquisition by
Tata Consultancy Service
Valuation of Telkom Kenya for
the proposed Acquisition by a
Major Indian Telecom Co.
Valuation Advisors
Valuation Advisors
Valuation of Business, Tangible
and Intangible Assets of Reliance
Globalcom Limited for the purpose
of Purchase Price Allocation for
Singapore Listing of Global
Telecommunication Infrastructure
Trust (GTIL)
Valuation of Well Servicing
Rig – Marmul & NIMR, Oman of
Shaleem Petroleum Co SAOC
Valuation Advisors
Valuation Advisors
Financial Advisory Services for
Fair Valuation of Equity Shares
of Glenmark Pharmaceuticals Ltd.
& Glenmark Generics Ltd. to
determine Stock Swap Ratio for
Merger/Amalgamation purposes.
Valuation Advisors
Financial Advisory Services
for providing Fairness
Opinion / Valuation of Equity
of Stemcor India Business
for a proposed Transaction
Valuation Advisors
Acquisition of New Drug Discovery
Unit of Ranbaxy by Daiichi-Sankyo
Valuation of Coal Blocks / Mines
for the Schedule II and
Schedule III Coal Blocks which
have been Auctioned by
Nominated Authority of
Government of India
Valuation Advisors