Mergers and Acquisitions Advisory Services in India

Mergers and Acquisitions (M&A) Advisory Services in India help companies, entrepreneurs, investors and business owners plan and execute acquisitions, mergers, business sales, strategic investments and corporate restructuring transactions.

Whether you are planning to acquire an existing Indian company, sell your business, identify a strategic investor, merge two companies or expand into India through an acquisition, the success of the transaction depends on careful financial evaluation, valuation, due diligence, deal structuring and regulatory compliance.

EzyBiz India Consulting LLP provides M&A advisory and transaction support services for Indian companies, promoters, SMEs, investors and international businesses. Our multidisciplinary team brings together corporate finance, taxation, regulatory compliance, financial analysis and transaction advisory experience.

We assist clients across the transaction lifecycle, from identifying opportunities and evaluating potential counterparties to financial due diligence, commercial negotiations, transaction structuring, regulatory coordination and closing support.

Quick Answer: M&A advisory services involve professional assistance with buying, selling, merging or restructuring businesses. An M&A adviser helps evaluate transaction opportunities, identify risks, assess financial performance, negotiate commercial terms, coordinate specialist advisers and support transaction completion.

To discuss a proposed transaction, call +91 98992 17778, contact us through WhatsApp or email anil@ezybizindia.in.

What Are Mergers and Acquisitions Advisory Services?

M&A advisory services involve strategic, financial, commercial and transaction-related assistance for businesses undertaking acquisitions, mergers, business disposals and related corporate transactions.

Meaning of Mergers and Acquisitions

A merger involves combining businesses through an agreed legal and commercial arrangement. An acquisition involves obtaining shares, assets, a business undertaking or control of another enterprise. The legal and tax consequences depend on the transaction structure.

Role of an M&A Advisory Firm

An advisory firm assists with transaction strategy, buyer or target identification, financial evaluation, due diligence, valuation coordination, commercial negotiations and transaction management. Legal documentation and activities requiring specific regulatory authorisation are handled by appropriately qualified professionals.

Who Needs M&A Advisory Services?

Typical clients include Indian promoters selling their businesses, companies seeking inorganic growth, foreign investors acquiring Indian companies, family-owned businesses planning succession, private equity investors and groups undertaking internal restructuring.

Our Mergers and Acquisitions Advisory Services

EzyBiz India offers coordinated transaction advisory support tailored to the objective, transaction size, industry, ownership structure and regulatory requirements of each engagement.

Buy-Side M&A Advisory

We assist strategic buyers and investors with acquisition planning, identifying suitable businesses, preliminary target screening, financial evaluation, due diligence, structuring and negotiation support. Our objective is to help buyers make informed investment decisions.

Sell-Side M&A Advisory

We support business owners preparing for partial or complete exits, strategic sales, divestments and succession transactions. Services may include financial preparation, buyer identification, confidentiality management, information memoranda, commercial negotiations and closing coordination. Learn more about our Business Buy Sell Advisory Services.

Merger and Corporate Restructuring Advisory

We assist with the financial, tax and regulatory aspects of mergers, amalgamations, demergers, business transfers, group reorganisations and related restructuring arrangements, working with legal and valuation professionals wherever required.

Types of Mergers and Acquisitions in India

Businesses can achieve their objectives through several transaction structures. Choosing the appropriate structure is essential because it affects liabilities, taxes, regulatory approvals, ownership and implementation.

Share Acquisitions and Business Takeovers

In a share acquisition, the buyer purchases an agreed percentage of the target company’s shares. The existing company generally continues with its assets, contracts, employees and liabilities, although change-of-control provisions and regulatory conditions may apply.

Asset Acquisitions and Business Transfers

In an asset acquisition, selected business assets are transferred to the buyer. A business undertaking may also be transferred as a going concern, including through a qualifying slump sale. These structures require examination of tax, GST, stamp duty, employee, contractual and licensing implications.

Mergers, Demergers and Joint Ventures

Companies may combine through amalgamations, separate divisions through demergers or establish joint ventures for strategic projects. The structure should reflect the commercial objective and applicable Companies Act, tax, competition and foreign investment requirements.

For a broader discussion of industry participants and transaction structures, read our guide to Merger and Acquisition Companies in India.

Buy-Side M&A Advisory for Business Acquisitions

Acquiring an existing business may provide access to customers, technology, distribution networks, skilled employees and operational infrastructure faster than starting from scratch.

Acquisition Strategy and Target Identification

We help buyers define acquisition objectives, target industries, preferred geography, investment range, financial criteria and expected strategic benefits. Potential businesses are evaluated against the agreed acquisition profile.

Financial Evaluation of Acquisition Targets

Our financial evaluation may include historical revenue, normalised EBITDA, profitability trends, working capital, operating cash flows, customer concentration, borrowings, capital expenditure and management forecasts.

Acquisition Negotiations and Deal Execution

We support commercial negotiations concerning valuation, purchase consideration, debt adjustments, working-capital targets, deferred consideration, indemnities, escrow arrangements and completion conditions.

Before acquiring a company, buyers should commission an appropriate financial and tax due diligence review to understand material risks and potential liabilities.

Sell-Side M&A Advisory for Business Owners

For promoters and shareholders, selling a business can be a major financial decision. Proper preparation helps improve information quality, protect confidentiality and support negotiations with suitable buyers.

Preparing a Business for Sale

We assist in reviewing historical financial statements, profitability, cash flows, related-party transactions, outstanding liabilities, tax exposures, regulatory compliance and other matters relevant to buyer evaluation.

Buyer Identification and Confidential Discussions

Depending on the engagement, we assist with buyer research, introductory discussions, confidentiality arrangements, preliminary information sharing and coordination of management meetings.

Business Valuation and Sale Negotiations

We help business owners evaluate indicative offers, understand enterprise and equity values, examine payment structures and assess the commercial impact of representations, indemnities and post-closing obligations.

Promoters exploring an exit may also review our Business for Sale in India guide for additional information about business-sale preparation and buyer considerations.

M&A Transaction Process in India

Although every deal is different, most acquisitions and business sales follow a structured sequence of preparation, evaluation, negotiation, diligence, documentation and closing.

Transaction Planning and Initial Evaluation

The first stage involves defining the transaction objective, identifying potential counterparties, reviewing available financial information, assessing strategic suitability and establishing an indicative valuation or transaction range.

Due Diligence and Transaction Structuring

Once preliminary commercial terms are discussed, the parties generally undertake due diligence and evaluate the appropriate legal, tax, financial and regulatory structure. Material findings may affect pricing, contractual protections or the decision to proceed.

Documentation, Approvals and Closing

The parties finalise definitive agreements, satisfy conditions precedent, obtain applicable consents and complete the transfer of shares, assets or business undertakings. Post-closing filings, payment settlements and integration activities follow as required.

Typical documents may include an NDA, indicative offer, term sheet, financial information memorandum, due diligence reports, share purchase agreement, business transfer agreement, disclosure schedules, board resolutions, regulatory filings and closing documents. The exact documentation depends on the transaction.

Planning an acquisition, merger or business sale? Discuss the transaction structure, financial evaluation and execution requirements with our Corporate Finance Advisory team.

Business Valuation in Mergers and Acquisitions

Business valuation helps buyers and sellers understand a reasonable transaction value. A negotiated purchase price may differ from the assessed valuation because of strategic considerations, liabilities, risks and commercial terms.

EBITDA Multiple Method

Under an EBITDA-multiple approach, an indicative enterprise value may be calculated by applying a selected multiple to maintainable or normalised EBITDA. The multiple depends on industry, business quality, growth, risk, size and transaction comparability.

Discounted Cash Flow Method

The Discounted Cash Flow method estimates value using projected future cash flows discounted at an appropriate rate. Results depend heavily on business projections, capital requirements, terminal assumptions and the selected discount rate.

Enterprise Value Versus Equity Value

Enterprise value generally represents the operating business value. Equity value is determined after relevant adjustments for debt, cash, debt-like items and other agreed factors. The transaction documents should clearly define the adjustment mechanism.

Illustrative example: Suppose a company has normalised EBITDA of ₹2 crore and the parties use an illustrative multiple of 5 times.

Particulars	Illustrative Amount
Normalised EBITDA	₹2 crore
Assumed EBITDA multiple	5 times
Indicative enterprise value	₹10 crore
Less: Debt and debt-like items	₹2 crore
Add: Surplus cash	₹50 lakh
Indicative equity value	₹8.50 crore

This is an illustration only, not a valuation of any particular company. Actual transaction pricing may involve working-capital adjustments, contingent liabilities, earn-outs and other contractual factors. Independent valuation reports are obtained from suitably qualified professionals wherever required.

Financial, Tax and Legal Due Diligence

Due diligence is one of the most important stages of an acquisition. It helps identify risks, evaluate financial information and determine whether the agreed price and transaction protections are appropriate.

Financial Due Diligence

Financial due diligence may examine revenue recognition, profit quality, EBITDA adjustments, debt, working capital, cash flows, receivables, inventory, related-party transactions, contingencies and financial projections.

Tax and Regulatory Due Diligence

Tax due diligence may cover income tax, TDS, GST, transfer pricing, assessments, litigation, carry-forward losses, withholding obligations and historical compliance. Regulatory reviews may consider corporate filings, FEMA compliance and relevant business licences.

Legal, Operational and Commercial Due Diligence

Legal specialists may examine ownership, contracts, disputes, intellectual property, employment obligations and change-of-control provisions. Operational and commercial diligence may review market position, customers, suppliers, management dependency, systems and cybersecurity risks.

Explore our dedicated Due Diligence Advisory Services in India for more information about transaction risk assessment and financial review.

Transaction Structuring and Tax Planning

The structure of an M&A transaction can substantially influence the buyer’s liability exposure, the seller’s post-tax proceeds, regulatory approvals and future business operations.

Share Purchase Versus Asset Purchase

A share purchase involves acquiring ownership of the target company, whereas an asset purchase generally involves acquiring specified assets or business undertakings. Share transactions may retain historical exposures within the target company, while asset transactions require careful analysis of asset transfer, succession, tax and contractual obligations.

Factor	Share Acquisition	Asset Acquisition
What is acquired?	Shares of the target company	Identified assets or business undertaking
Legal entity	Target generally continues	Assets or undertaking transferred
Historical liabilities	Generally remain within target	Depend on law and agreed structure
Contracts and licences	Check change-of-control provisions	Assignments or fresh approvals may be needed
Tax and stamp duty	Based on applicable share transfer rules	Based on assets, structure and governing law
Typical use	Acquiring an existing operating company	Acquiring selected assets or a division

Capital Gains and Transaction Taxes

M&A tax planning may include capital gains on share transfers, business-transfer taxation, slump-sale provisions, withholding tax, GST applicability or exemptions, stamp duty and the tax treatment of transaction expenses. Applicable rates and relief depend on the facts and law governing the transaction.

Tax-Neutral Restructuring and Amalgamation

Certain qualifying amalgamations and demergers may receive specified tax treatment under the Income-tax Act, subject to statutory conditions. Not all mergers or restructurings are automatically tax-neutral. The proposed arrangement should be examined before implementation.

For transaction tax planning, assessment matters and international tax exposures, see our Income Tax Assessment and Litigation Services and GST and Indirect Tax Advisory Services.

Legal and Regulatory Framework for M&A in India

M&A transactions can involve multiple regulators and statutory frameworks. The applicable requirements depend on whether the deal is a share purchase, business transfer, merger, listed-company acquisition or cross-border transaction.

Companies Act, 2013 and NCLT Merger Procedure

Schemes of merger and amalgamation are generally considered under Sections 230–232 of the Companies Act, 2013, where applicable. Transactions may require shareholder and creditor approvals, NCLT sanction, statutory filings and implementation of the approved scheme. Official company law guidance is available through the Ministry of Corporate Affairs.

Competition Commission of India Approval

Acquisitions, mergers and amalgamations meeting the applicable combination notification requirements may need approval from the Competition Commission of India before completion, subject to available exemptions. Assessment can include asset and turnover thresholds, transaction-value criteria and the nature of the acquisition. Refer to the CCI’s official combination regulations.

SEBI and Other Regulatory Approvals

Transactions involving listed companies may require compliance with applicable SEBI regulations, disclosure requirements and takeover provisions. Depending on the sector and transaction, banking, insurance, telecom, foreign investment or other regulatory approvals may also be necessary. Refer to the Securities and Exchange Board of India.

Fast Track Merger and Corporate Restructuring

Eligible companies may use the simplified fast-track merger framework under Section 233 of the Companies Act, 2013 instead of the conventional NCLT merger route, subject to statutory conditions.

Eligibility for Fast Track Mergers

The framework covers prescribed classes of eligible companies, including qualifying small companies, holding companies and wholly owned subsidiaries, and other notified categories. Eligibility must be assessed using the current statutory rules and applicable exclusions.

Regional Director Approval Process

Fast-track mergers generally involve preparation of a scheme, relevant declarations, notices, shareholder and creditor approvals, filings with prescribed authorities and examination by the Central Government through delegated Regional Director powers.

Fast Track Merger Versus Regular Merger

The appropriate route depends on eligibility, transaction complexity, shareholder and creditor requirements and regulatory considerations. Where the statutory conditions for the fast-track process are not satisfied, the conventional procedure may be necessary.

Read our detailed guide on Fast Track Merger in India under Section 233 for the relevant procedure, eligibility considerations and documentation.

Cross-Border Mergers and Acquisitions Advisory

Cross-border M&A involves acquisitions, investments, mergers and restructuring transactions between Indian and overseas businesses. These transactions require coordinated examination of Indian and foreign regulatory requirements.

Foreign Companies Acquiring Indian Businesses

Foreign investors may acquire shares or businesses in India subject to the applicable FDI framework, sectoral restrictions, entry routes, beneficial ownership considerations, pricing guidelines and reporting obligations.

Foreign businesses may also explore our India Market Entry Consulting Services when comparing acquisitions with establishing a new Indian subsidiary.

Indian Companies Acquiring Overseas Businesses

Indian companies considering overseas acquisitions must evaluate applicable overseas investment rules, funding structures, investment limits, reporting obligations, host-country laws, tax exposures and post-acquisition governance.

FEMA, RBI and Cross-Border Tax Considerations

Relevant matters may include FEMA pricing and reporting, permitted investment routes, foreign exchange remittances, withholding tax, tax treaties, indirect transfers, transfer pricing and cross-border financing. Official regulatory information is available through the Reserve Bank of India and the Income Tax Department.

EzyBiz India coordinates with legal, tax, regulatory and valuation specialists where the transaction involves multiple jurisdictions or additional professional authorisations.

M&A Advisory for SMEs, Family Businesses and Investors

M&A is not limited to large corporations. SMEs, founder-managed companies and family businesses may also undertake acquisitions, sell ownership interests, attract strategic investors or restructure operations.

SME Business Acquisitions and Strategic Growth

An SME may acquire a competitor, supplier, distributor or complementary business to expand its market presence. Particular attention should be paid to promoter dependency, customer concentration, compliance systems and working-capital requirements.

Family-Owned Business Sales and Succession

Family businesses may consider partial exits, complete sales, succession arrangements or strategic partnerships. An effective process balances financial objectives, ownership considerations, confidentiality and continuity of operations.

Private Equity, Strategic Investors and Joint Ventures

Investors may seek minority or controlling stakes, structured investments or joint venture arrangements. Evaluation should include governance rights, shareholder protections, exit arrangements, valuation, regulatory requirements and financial projections.

For businesses pursuing capital rather than a complete sale, our Corporate Finance Advisory Services provide further information about strategic finance and transaction support.

M&A Deal Negotiation and Closing Support

The financial outcome of an acquisition depends not only on the agreed headline valuation but also on the detailed commercial terms incorporated into the transaction documents.

Term Sheets and Purchase Price Mechanisms

We assist in evaluating indicative offers, term sheets and pricing mechanisms such as locked-box arrangements, completion accounts, working-capital adjustments and cash-free debt-free calculations.

Representations, Indemnities and Earn-Outs

Buyers and sellers may negotiate warranties, indemnities, escrow, holdbacks, deferred consideration and earn-outs. These arrangements should be evaluated for their financial implications and documented by appointed legal advisers.

Conditions Precedent and Post-Closing Obligations

Deal completion may depend on lender approvals, shareholder consents, regulatory clearances, employee matters, restructuring actions, payment arrangements and other agreed conditions. Post-closing support may include financial reporting alignment, regulatory filings and integration planning.

Illustrative transaction: An Indian manufacturing company proposes to acquire a 75% stake in another privately held company. The proposed transaction may involve financial and tax due diligence, share valuation, review of corporate and regulatory filings, negotiation of the share purchase agreement, shareholder arrangements and completion of applicable statutory requirements.

The buyer and seller should also agree on the treatment of existing borrowings, working capital, management continuity and future liabilities before signing definitive documentation.

Why Choose EzyBiz India for M&A Advisory?

EzyBiz India Consulting LLP provides coordinated M&A transaction assistance with particular emphasis on financial analysis, tax, regulatory compliance, transaction planning and commercial execution.

Experienced Chartered Accountants and Transaction Professionals

Our team includes experienced Chartered Accountants and other professionals with expertise in corporate finance, taxation, regulatory compliance, financial reporting and business advisory. We coordinate with specialist legal advisers, valuers and other qualified professionals where necessary.

Integrated Financial, Tax and Regulatory Support

We examine transaction matters together rather than treating valuation, due diligence, tax exposure and regulatory compliance as disconnected activities. This approach helps clients understand the overall implications of a proposed transaction.

Practical Support for Domestic and Cross-Border Deals

We assist Indian and overseas businesses with transaction assessment, negotiation support, deal structuring and regulatory coordination. Engagement scope is determined by the transaction’s size, complexity, location and client requirements.

Our focus is to provide clear financial information, identify significant transaction risks, coordinate relevant specialists and support efficient communication among the parties.

Frequently Asked Questions on Mergers and Acquisitions

What services does an M&A adviser provide?

An M&A adviser may assist with acquisition strategy, buyer or target identification, financial evaluation, business-sale preparation, due diligence, valuation coordination, negotiations, transaction structuring and closing support. The actual services depend on the engagement.

How much do M&A advisory services cost in India?

Professional fees depend on the transaction size, complexity, scope, industry and engagement structure. Some assignments involve retainers, milestone-based fees, transaction-linked fees or a combination of these. A detailed written engagement specifies the agreed fee arrangement, applicable taxes and scope limitations.

How long does a merger or acquisition take in India?

There is no single standard completion period. A relatively straightforward private share acquisition may progress faster than a regulated merger or cross-border acquisition. Due diligence findings, negotiations, financing, required approvals and closing conditions can significantly influence the timeline.

Additional common questions:

Is valuation compulsory for every acquisition? Not every privately negotiated transaction requires the same form of valuation report. Statutory requirements depend on the transaction, parties, foreign investment involvement and applicable legal provisions.

Can foreign companies acquire Indian companies? Yes, subject to sector-specific foreign investment rules, applicable entry routes, restrictions, pricing guidelines and reporting requirements.

Is due diligence necessary before buying a business? Due diligence is strongly recommended because it can identify financial, tax, legal, commercial and regulatory risks that are not immediately apparent from the seller’s financial statements.

Does EzyBiz assist with both business buyers and sellers? Yes. We offer buy-side and sell-side transaction support, subject to an agreed engagement scope and appropriate management of professional conflicts.

Contact Our Mergers and Acquisitions Advisory Team

If you are planning to acquire a business, sell your company, attract a strategic investor, merge group entities or undertake a cross-border transaction, obtaining appropriate professional advice at the planning stage can help identify risks and clarify the financial and regulatory requirements.

EzyBiz India Consulting LLP can assist in reviewing your objectives, evaluating the proposed transaction, defining the required advisory scope and coordinating the transaction process.

Contact EzyBiz India Consulting LLP:

• Phone: +91 98992 17778
• WhatsApp: Discuss Your M&A Transaction
• Email: anil@ezybizindia.in
• Enquiry: Contact Our Advisory Team

Related Services

• Business Buy Sell Advisory Services
• Financial and Tax Due Diligence Advisory
• Fast Track Merger Advisory
• Merger and Acquisition Companies in India
• Advantages of Mergers and Acquisitions
• Business for Sale in India
• Corporate Finance Advisory Services
• India Market Entry Advisory Services

Reviewed By

CA Anil Agrawal
Founder, EzyBiz India Consulting LLP
Chartered Accountant with over 20 years of experience in taxation, regulatory compliance, corporate finance and business advisory.

Last Updated

October 2026

Disclaimer

This article is intended for general informational purposes and does not constitute investment, legal, tax, valuation or other regulated professional advice. The legal and tax treatment of mergers and acquisitions depends on the specific facts, transaction structure and applicable laws. EzyBiz India provides corporate finance, financial, tax, regulatory and transaction-support services. Independent valuations, legal opinions, definitive legal documentation and other regulated activities are undertaken by suitably qualified or registered professionals wherever required. Readers should obtain transaction-specific professional advice before making decisions.