Insights
Private Markets Intelligence
Guides on ESOP taxation, cap tables, secondary transactions, and India's private market ecosystem.
Merchant Banker vs Registered Valuer: Who Signs Which Report?
On 5 December 2025, SEBI quietly rewrote the rulebook on who gets to put their signature on a valuation report, and most founders still don't know it happened.
2026 Employee Secondary Sales Turning Into a Retention Play (Not Just an Exit Event)
The share of employees who feel financially thriving dropped from 66% to 44% by 2026, a collapse that explains why so many companies are rethinking what equity liquidity is actually
IBBI Registered Valuers: The New Mandate for Share Allotments Explained
Every founder issuing new shares in 2026 runs into the same wall: an IBBI registered valuer has to certify the price before the allotment closes. Since the Insolvency and Bankruptcy
Tabulate vs Manual Spreadsheets: Which Actually Secures Your Equity?
Tabulate vs manual spreadsheets isn't a debate about convenience anymore, it's a question of whether your cap table can survive an audit. Organizations lose an average
What Happens to ESOP Holders in an Acquisition? How the Exit Waterfall Affects Employees
When an Indian startup is acquired, the exit waterfall distributes the proceeds to shareholders in a defined order. Founders and investors are typically the most discussed stakeholders in an acquisition,