Compliance & Regulatory

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.

Aug 6, 2026 · 7 min read