Know exactly what you're buying. Or selling.
Most M&A deals don't fail in negotiation. They fail in diligence — when something is missed, hidden, or wrongly assumed. The numbers turn out to be stories instead of facts.
NGA's M&A practice is led by CA Dishant Goel, who brings both technical CA depth and first-hand business experience. Every deal is partner-led, with a focus on what actually changes hands — not just what's on the balance sheet.
Quality of earnings, working capital normalisation, hidden liabilities, tax exposure, related-party clean-up.
Pre-empt buyer findings. Clean up the data room. Prepare a credible, defendable financial story.
DCF, comparable transactions, comparable companies, asset-based — registered valuer reports for ROC and tax purposes.
Asset vs share deal, slump sale, demerger, escrow design, earn-outs, indemnity caps — structured for tax and execution.
Information memoranda, investor decks, financial models — built to a standard that institutional money expects.
Systems consolidation, ERP, statutory restructuring, HR & payroll integration, working capital reset.
Buy-side DD with the depth a target deserves and the speed a deal demands.
Vendor assist that cleans your story, anticipates buyer questions, and protects your valuation.
Pitch decks, financial models, valuation defence — built to actually close a round.
Dishant brings hands-on operator experience to every diligence engagement, which informs how we evaluate the businesses we examine.
Every deal structure has a tax consequence. Ours are designed with the after-tax reality in mind from day one.
From first call to closing, the same partner runs it. No swap-in associates at the most critical moment.
Quality of earnings (normalising for one-offs), working capital analysis, debt and debt-like items, revenue recognition consistency, related-party transactions, hidden liabilities (tax, litigation, disputes), commitments and contingencies, and analysis of the underlying commercial drivers of profitability.
For a mid-sized target with clean books, 4-6 weeks from data-room access to final DD report. Complexity, multi-entity groups, cross-border operations, or reconciliation gaps extend this. Kick-off meetings and a well-organised data room shorten it.
QoE strips reported EBITDA of one-time, non-recurring or non-operational items to arrive at a 'normalised' or 'sustainable' earnings figure. It is the anchor for valuation negotiation, and typically results in an EBITDA bridge from reported to adjusted, with a schedule of every adjustment.
Common triggers: raising equity or debt, share transfer under FEMA (FC-TRS), ESOP valuation under Rule 3(8), buyback of shares, family settlements, insolvency proceedings, or a strategic transaction. The applicable method and report format depends on the purpose.
Yes. Sell-side DD (also called vendor DD or vendor assist) means running the DD process ourselves on your business before a buyer's team arrives. This surfaces issues in advance, cleans the data room, prepares a defendable financial story, and typically preserves valuation in negotiation.