We help founders raise capital.Wehelpfoundersraisecapital.

Beyond accounting, a startup-focused CA firm designs the round: instrument choice (equity, CCPS, CCD or convertible notes), defensible valuation reports, due-diligence readiness and coordination of the investment agreements with lawyers. It then executes the closing — approvals, private placement compliance, share allotment, PAS filings and, for foreign investors, FEMA filings like FC-GPR. Rajgaria & Co. acts as the central transaction coordinator across founders, investors and counsel.

Rule 11UA of the Income-tax Rules prescribes how unquoted shares are valued for tax purposes, while DCF values the business on its projected cash flows. You typically need these when issuing shares to investors, transferring shares or pricing convertible instruments — the exact method and certifying professional depend on the law that applies. A well-built report keeps one consistent valuation across Income Tax, Companies Act and FEMA requirements.

FC-GPR is filed by the Indian company on the RBI FIRMS portal after allotting shares to a foreign investor, generally within 30 days of allotment. FC-TRS reports transfers of shares between residents and non-residents, generally within 60 days, and the responsibility ordinarily sits with the resident party to the transfer. Both are FEMA reporting requirements; delays attract late submission fees or compounding.

CCPS price the round now and carry investor rights through their conversion terms — the standard for priced institutional rounds. Convertible notes defer pricing to a future round and, in India, can only be issued by DPIIT-recognised startups subject to minimum-investment conditions. We model dilution under both, align the instrument with FEMA pricing rules for foreign investors, and support drafting of the agreements.

ESOPs need valuation at two points: a fair-value exercise for accounting when options are granted, and a merchant-banker valuation of the perquisite when employees exercise. Getting either wrong distorts expense recognition, employee tax and the fully-diluted cap table investors examine in due diligence. We also model how the ESOP pool interacts with dilution in each funding round.

Yes — any equity investment from a non-resident triggers FEMA: entry-route and sectoral-cap checks, pricing guidelines backed by a valuation certificate, and time-bound reporting such as FC-GPR, plus the annual FLA return. Past lapses can be regularised through condonation or compounding, but prevention is far cheaper. We handle the full FDI lifecycle, including AD Bank and RBI coordination.

A Registered Valuer is registered with the Insolvency and Bankruptcy Board of India and is the professional authorised to issue valuation reports required under the Companies Act — for example, for preferential allotments. Scrutiny of startup valuations keeps rising, and reports from credentialed valuers are the ones that stand up to it. Rajgaria & Co. is IBBI-certified and also provides Category II Merchant Banker reports where tax rules require them.

Most CA firms process compliance; we advise on transactions. Our core work is capital structuring, valuation, FEMA strategy and funding-round execution — with statutory compliance run as the supporting backbone. Since 2011 we've served 200+ clients, from startups to enterprises like Oracle India, Volvo Group India and Manipal Health Enterprises, and we stay engaged through the whole transaction lifecycle, not just filing deadlines.