Advisory

Valuation Investment Banking Real Estate Advisory Infrastructure Advisory Technical Assurance

w w w . r b s a . i n

Advisory

Valuation
Business Valuation Valuation of Financial Securities, Instruments & Derivatives Valuation of Brands, Intangible Assets & Intellectual Property Valuation of Industrial Assets, Plant & Machinery Valuation of Real Estate Valuation of Infrastructure Assets & Specialized Assets Purchase Price Allocations for Mergers & Acquisitions Impairment Studies for Tangible Assets Impairment Studies for Intangible Assets & Goodwill

Infrastructure Advisory
Identification and Analysis of Potential Opportunities Partner Identification - Joint Venture, Public Private Partnership Financial Modeling - Business, Financial and Economic analysis Commercial and Financial Due Diligence Bid Advisory and Bid Process Management Preparation of Information Memorandums Preparation of Detailed Project Reports Financial Closure and Project Financing Project Appraisal and Monitoring Independent Review & Assurance Lenders & Investors Engineer

Mines, Mineral Advisory and Valuation

Investment Banking
(SEBI Registered CAT I Merchant Banker)
Transaction Advisory & Due Diligence Fairness Opinions Corporate Finance & Advisory Private Equity and Venture Capital Debt Solutions and Syndications Mergers & Acquisitions IPO, Rights Issue, Buy-Back, Delisting Corporate Restructuring, Business Reorganisation Slump Sales, Mergers & Takeovers

Technical Assurance
Technical Due Diligence Reviews for Mergers & Acquisitions Lenders and Investors Engineer Services Project Cost Investigations & Forensic Advisory Feasibility Studies Technical Analysis, Opinions & Audits Chartered Engineers Opinions and Certifications

Real Estate Advisory

Real Estate Advisory Services Financial Modeling, Highest & Best Use Studies, Opportunity Investigation Business Plan Formulation & Feasibility Studies Investment Related Due-Diligence Location/ Entry Strategies Market Research Exercises Institutional Broking & Transaction Management Institutional Broking - Sale-Purchase & Leasing Transaction Management

Advisory

Proposed Acquisition of Ras Lanuf Refinery of Libya by Indian Oil Corporation

The Valuation Consulting Services of RBSA cover the complete spectrum of purposes for which valuation advice may be required, such as
Mergers & Acquisitions - Pre Deal Advisory & Valuation Fairness Opinions Financial Reporting under Indian GAAP, IFRS & US GAAP Purchase Price Allocation for Mergers & Acquisitions Fair Value Accounting Portfolio Valuation for Private Equity Funds, Real Estate Funds Impairment Studies for Tangible, Intangible Assets & Goodwill Banking (Lending against Assets) Distress Assets / Non Performing Assets Courts & Litigation Support

VOLTAS
Valuation of Voltas Ltd. for reporting under International Financial Reporting Standards (IFRS 1)

Management Information & Strategic Planning Insurance Taxation Planning & Compliance Initial Public Offerings Securitization Cost Investigations Quantity Surveying and Estimation

Valuation

Business Valuation
n n n n n n n n

Valuation of Real Estate

n n n n n n

Listed and unlisted companies Closely held businesses Securities and Fractional business interests Professional practices Illiquid debts and equity securities Thinly traded stock of publicly listed companies Stock options, warrants, grants and rights Liability Valuation

Residential, Commercial Real Estate Retail Spaces, Shopping Malls, Multiplexes IT Parks Petrol Pumps Hotels & Hospitality Properties Industrial Properties etc.

Valuation of Specialized Assets Stock and Inventory Valuations, Stock Audits Valuation of Infrastructure Assets
n n n n n n n n

Valuation of Intangible Assets & Intellectual Property

n n

Goodwill, Brands, Trade Marks, Copyrights, Patents, Designs, Licenses Software and IT Products, Databases Technological Know-how, Engineering Drawings, Industrial Designs, Human Resources Customer Contracts & Relationship, Customer lists, Distribution Rights & Network Franchises and Licensing Agreements, Non compete agreements etc.

Dams, Lakes, Water bodies Industrial Water Rights Hazardous Land Fills Highway and BOT Projects, IT Parks Telecom and Communication Infrastructure Airport and Aviation Infrastructure Railway line and Railway Infrastructure Ports, Harbors Etc

Valuation of Industrial Assets, Plant & Machinery

n n

Mines, Mineral Advisory and Valuation

n n n n n

n n

Automobile Plants, Cement, Ceramic Industries, Engineering, Steel Plants, Metal Smelters, Mining Assets, Fertilizer Plants Petrochemical Complexes, Refineries, Pharmaceuticals and Chemical Companies Power Generation and Transmission Companies Information Technology, Telecom Assets etc

Due Diligence, Valuation & Advisory Mining Feasibility Studies Mineral Reserve Certifications Review of Operations, Mining Leases Technical Opinions

WorldVal
International
www.world-val.com
Worlwide Valuation Services

RBSA is an active member of WorldVal International, a network of leading Valuation firms across Australia, ASEAN, China & Hong Kong, India, Middle East, Africa Europe, Russia, UK, US, Brazil & South America, providing International Clients with seamless & Worldwide Valuation services. WorldVal has full service Valuation capabilities across Business & Financial Valuation, Industrial and Plant & Machinery Valuation, Real Estate Valuation, etc. WorldVal serves Global clients, with an excellent local domain knowledge and expertise across key geographies.

Advisory

Purchase Price Allocation

Purchase Price Allocation (PPA) poses a complex challenge for the acquiring company. The process involves determining the purchase price, identifying hidden reserves and charges reflected in the assets and liabilities shown in the acquirees balance sheet, as well as identifying and valuing intangibles assets and liabilities previously not recognized in the acquirees balance sheet. PPA requires companies to report the Fair Value of assets and liabilities acquired in their financial statements. We conduct an analysis of business plan which enables identification of central value drivers of the acquired company and provides an understanding of the amount and composition of the purchase price paid, the fair values of tangible and intangible assets acquired, the liabilities assumed and the residual goodwill.

Impairment Reviews
Impairment Analysis addresses financial accounting and reporting for the impairment of Tangible Assets, Intangible Assets and Goodwill. It requires recognition of an Impairment Loss if the carrying amount of the asset is not recoverable from its undiscounted cash flow and requires the measurement of this loss as the difference between the carrying amount and fair value of the asset (IAS 36 and AS 28). Impairment Analysis provides useful guidance and insights into an unexpected or sudden decline in the service utility of a Tangible or an Intangible Asset. Goodwill Impairment could occur when the current and projected performance of the acquired entity is below what was estimated at the time of acquisition

Fair Value Accounting under IFRS

Valuation of Jindal SAW Ltd. for reporting under International Financial Reporting Standards (IFRS 1)

The Fair Value Accounting norms provide guidance for determination of fair value estimations for financial reporting purposes and comparability among fair value measurements thus eliminating inconsistencies in approaches. Stringent fair value measurement principles necessitate market participant assumptions of highest and best use regardless of the acquirer's intentions.

Valuation for Financial Reporting

RBSA specializes in Valuation and Advisory for Financial Reporting of large publicly listed companies. We have performed numerous complex, domestic and cross-border Financial Reporting engagements involving leading Corporates across various industries. Our qualified and experienced professionals have experience in a wide range of valuation issues. We also have alliances with other leading consulting firms in US, Europe, Australasia and other parts of the world, in order to provide clients seamless cross-border services.
Valuation of entire Real Estate Portfolio of HDFC Bank for Basel II Capital Adequacy

We have the required skills and expertise to perform unbiased and fair analyses that brings clarity to various Stakeholders, Regulators, Investors, CFOs, Auditors etc. by explaining the valuation aspects of the new financial reporting requirements n Fairness Opinions for Mergers & Acquisitions n Business Combinations : Valuation for Purchase Price Allocations under IFRS and US GAAP (IFRS 3 or SFAS 141/142) for Mergers & Acquisitions n Valuation of Tangible and Intangible Assets, Goodwill for First Time Adoption under IFRS n Impairment Reviews and Valuation for Tangible and Intangible Assets, Goodwill under IAS 36 and AS 28 n Valuation of Tangible & Intangible Assets for Merger, De-Merger & Reorganizations n Share Based Payments n Fair Value Accounting n Valuation of Financial Instruments, Derivatives and Securities under AS 30, 31 & 32

Impairment & Technical Due Diligence on behalf of Foxconn

Demerger & Reorganization of Reliance Infrastructure Ltd.

Advisory

Valuation of Brands,Intangible Assets & Intellectual Property

Banking and Finance

More and more companies are realizing that the majority of their value lies in intangible assets like brands, copyrights or patents. More and more bankers and financial institutions are agreeing to securitize and fund against reputed brands and strong intangibles as collateral security. RBSA provides a number of related services, including: Brand & Intangible Due Diligence Securitization & Leveraging of Brands & Intangible Assets

Acquisition of Aurangabad Breweries by Asia Pacific Breweries, Singapore

Financial Reporting and Valuation

Valuations are required for: Purchase Price Allocations & Impairment Reviews Tax planning Transactions and Dispute Resolution

Brand Valuation of Odyssey, A leisure retail book store, for its London AIM listing

With the spate of recent M&A activity, there is an increased need for intangible asset valuations for International Financial Reporting Standards (IFRS), US GAAP and Indian GAAP. Valuations also form the basis for risk and performance management.

Transaction Support
We help our clients leverage the value of their intangibles through acquisitions, tax planning, selling/mortgaging, etc. We ensure that the intangible assets are utilized to their full extent along with tangible assets. The transaction support services that we provide for brands and intangibles are: Brand Due Diligence for acquisitions, disposals and bid defense Royalty Rate determination
Acquisition of Sky Gourmet, Mars Restaurant & other related Brands like Birdy's, Just Around The Corner, etc. by IHC, London

Advisory

Mines and Mineral Valuation, Due Diligence and Advisory

The Mines & Mineral Practice of RBSA has carried out Valuation, Due Diligence and Financial Analysis of Mines and deposits representing more than 90% Copper Reserves, more than 90% of Zinc Reserves and more than 85% of Lead Reserves of the Country (India). The main services include Due Diligence, Valuation and Advisory, Feasibility Studies, Review of Operations,
We have carried out Valuation, Due Diligence and Financial Analysis of Mines and Mineral Deposits representing more than 90% of Copper Reserves, more than 90% of Zinc Reserves and more than 85% of Lead Reserves of India

Mining Leases, Technical Opinions. Our expertise extends to Fully Developed and Operational Mines, Partly Explored Deposits, Exploration properties, Major and Minor Minerals, Metallic (Ferrous & Non ferrous) and Non Metallic Minerals, Fuel Minerals, Open Pit as well as Underground Mines.

Sambhar Lake - a unique Salt Producing Lake spread across an area of more than 270 sq. kms. We have used Michael Porter's Business Strategy Model of Value Chain Analysis for its Valuation. It was a unique and landmark valuation and our team was invited at World Valuation Congress to present a paper on the subject

Disinvestment & Privatization Projects

GCGSCL
GREATER CALCUTTA GAS SUPPLY CORPORATION LIMITED

PUNJAB TRACTORS LIMITED

Privatization & Disinvestment CMC

Valuation of City Gas Distribution License and other Intangibles of GCGSCL

Valuation of Fixed Assets and Mines & Mineral Reserves of Hindustan Zinc Ltd.

Valuation of Fixed Assets and Mines & Mineral Reserves of Hindustan Copper Ltd.

Valuation of Fixed Assets of Punjab Tractors Limited

Sell Side Advisors

Sell Side Valuation Advisors

Sell-side Valuation Advisors

Sell-side Valuation Advisors

Sell-side Valuation Advisors

Advisory

Arrangement of Consortium Finance for Vitrified Tiles and Ceramic Industry

Investment Banking
RBSA Capital Advisors LLP, a group company, is a SEBI Registered Category I Merchant Bank, and focuses on Investment Banking Services and Fund Raising requirements for Mid-Market and Emerging Companies. RBSA Capital Advisors also has an active and strong Fairness Opinion practice, and has an established client base amongst large publicly listed companies. The assortment of services spans across: n Mergers, Acquisitions, Joint Venture and Strategic Transactions n Fairness Opinions n Capital Issues Management - Initial Public Offers, Follow-on Public Offers, Rights Issues, Qualified Institutional Placements n Open Offer Management n De-Listing and Buyback n Private Equity Syndication n Debt Syndication and Placement n Project Finance Term & Working Capital Finance n Financing of Infrastructure Projects n Debentures, Commercial Paper & Other Securitized Debts n Overseas Debt Funding in the form of ECBs n Corporate Restructuring / Business Reorganization n Other Capital Market / Merchant Banking Services - Valuers and Advisors for ESOPs, Sweat Equity

RBSA has advised leading Banks & Institutions and arranged for Disposal of a Sugar Mill

Acquisition of Port & Warehousing Facilities in UAE on behalf of an Indian Group

Fairness Opinion A fairness opinion is a financial advisor's (Category I Merchant Banker) opinion and an independent objective analysis, from a financial point of view, as to the fairness of the financial terms of a Business Combination or a Corporate Transaction. There are many reasons for fairness opinions, most of which deal with transactions (business combinations) involving publicly listed and closely-held companies. An independent opinion of fairness relative to the exchange of values can provide substantial support for such transactions. Furthermore, independent fairness opinions are useful as a defense against dissident shareholder claims.

RBSA CAPITAL ADVISORS LLP

Category I Merchant Bank

registered with

The Securities and Exchange Board of India (SEBI) India

Investment Banking Services

Advisory

Real Estate Advisory

Real Estate Advisory Services

Valuation of various Real Estate Projects, SPVs and Real Estate Funds Financial Modeling Highest & Best Use Studies Opportunity Investigation for Existing & Potential Construction Sites Business Plan Formulation & Feasibility Studies Investment Related Due-Diligence Location/ Entry Strategies Market Research Exercises

We have acted as Valuation Advisors for Kshitij Real Estate Fund for its financial reporting requirements

Institutional Broking & Transaction Management

Institutional Broking:
Comprehensive sale-purchase Leasing and marketing services

Acted as Valuation Consultants for OZONE IT Park for its Consortium Financing proposals

Transaction Management:
Joint Venture Partner Identification Bid Process Management Tender Sales & Purchase Information Memorandum preparations and marketing Evaluations of Offers and Options Short-listing investors on the determined parameters Analyzing the offers and negotiating terms Co-ordinate the overall due diligence Closure of the transaction
Real Estate Advisory for land sale of National Textile Corporation

Advisory

Infrastructure Advisory
Identification and Analysis of Potential Opportunities Partner Identification - Joint Venture, Public Private Partnership Feasibility Studies, Financial Modeling including Business, Financial and Economic Analysis Commercial and Financial Due Diligence
Business Valuation of six Road Companies & Container Business of Reliance Infra-Ventures Ltd.

Bid Process Management & Bid Advisory Preparation of Information Memorandums & Detailed Project Reports Financial Closure and Project financing Project Appraisal and Monitoring Independent Review & Assurance Lenders & Investors Engineer

Valuation of Generation Assets - Power Plants, Transmission Assets & Distribution Assets of Torrent Power

Technical Assurance
Technical Due Diligence Reviews for Mergers & Acquisitions
We perform Technical Due Diligence on the target company for the acquirer to make informed and diligent acquisition decisions and understand risks inherent in the deal.

Lenders and Investors Engineer Services

A Lenders and Investors Engineer in any industrial or infrastructure project
Impairment Review of of Essar Steel Ltd.

principally assures and ensures the correctness of the project execution and its periodic reporting / monitoring to the lender / investor. This may be also extended to verification of the project completed and also successfully completion of trial run of any industry.

Acted as Valuation Advisors for the whole Network of Reliance Communications, Hutchison Essar & BPL Mobile

The role of a lenders engineer is to verify the physical status of work being implemented on the site; and to judge and report the quantum of finance actually being contributed and used on the project. These services assure the lender against misuse of funds.

Impairment Studies
We conduct technical asset impairment studies in accordance with financial reporting standards to assure auditors and investors of Impairment Risks.

Project Cost Investigations & Forensic Advisory Feasibility Studies

Acted as Valuation Advisors for Bongaigaon Refinery & Petrochemicals Ltd.

Technical Analysis, Opinions & Audits Chartered Engineers Opinions and Certifications

Vision and Focus

RBSA is a Consulting firm, advising businesses & institutions on the matters of Strategy, Finance, Transactions and Valuation. Throughout the past four decades of our existence we have been on a forefront in providing independent, professional, ethical and high quality Advisory, Valuation and Transactional Services.
Feasibility Studies & Due Diligence of Infrastructure Projects - BOT Projects, Highways, Bridges, Dams, Power Generation & Transmission

We see more than Businesses and Assets. We see your problems and understand your objectives. We see the value underlying your company. And we deliver high-class solutions and results.

Customer Focus - Client First Philosophy

We firmly believe that the best way to secure future is be continually improving and expanding our services to our customers. Making sure they are totally satisfied is paramount in all we do and it is why we place total emphasis on team working with clients, tailoring each aspect of the project to their precise requirements. Clients rely upon RBSA for the right direction at right time and for assistance needed to achieve identified goals.

We have carried out Valuation of Fleet of Boeing Aircrafts and other Aviation Assets of Bluedart Express Ltd. for its Acquisition by DHL

World Class
We have consistently delivered high-class solutions and results which are designed to meet each client's individual needs. With our multidisciplinary expertise across various industry segments we have brought clarity to difficult and complex situations. Our team has excellent worldwide delivery capabilities across various industry segments like Automobile, Aviation, Cement, Ceramics, Construction, Commodities, Chemicals, Energy, Engineering, Electronics, Fertilizers, FMCG, Hotels & Hospitality, Infrastructure, Information Technology, Leather, Logistics, Metals & Mining, Oil & Gas, Petroleum, Petrochemicals, Pharmaceuticals, Port, Power Generation, Transmission & Distribution, Real Estate, Retail, Steel, Textiles, Telecom & Mobile etc.

Hindustan Zinc Ltd. is India's largest integrated Zinc and Lead producer of India having Assets and Mines spread across 13 states in India. We conducted Valuation and Due Diligence of all the Assets and Mines on behalf of Government of India for its Disinvestment & Privatization Programme. It has since been divested in favor of Vedanta (Sterlite) Group

Acted as Valuation Advisors for Merger of Air India and Indian Airlines

In every area of our operations we work hard to deliver the highest possible level of customer care, the best value for money and the most appropriate solutions all backed by the drive, innovative imagination and resourcefulness that makes RBSA a world-class company.

Special expertise in Automobile Industry with hands on valuation experience with companies like MICO, Ashok Leyland, Eicher, Royal Enfield, Punjab Tractors Ltd., Swaraj Mazda Ltd., Swaraj Engines Ltd., Swaraj Automotives Ltd.

Advisory

Credentials
RBSA has advised leading companies on Mergers & Acquisitions and Financial Reporting matters. We have also acted as domain experts and valuation advisors on several transactions. Some of the main transactions and other instances where our services have been utilized are:

Proposed Acquisition of Ras Lanuf Refinery of Libya by IOCL

Merger of Air India and Indian Airlines

Acquisition of Vanco PLC, UK by Reliance Communications Ltd.

Buy-side Valuation Advisors

Valuation Advisors

Purchase Price Allocation

Valuation of KEL for Joint Venture with Bharat Heavy Electricals Limited

Acquisition of New Drug Discovery Unit of Ranbaxy by Daiichi-Sankyo

Valuation of Voltas Ltd. for reporting under International Financial Reporting Standards (IFRS 1)

Valuation & Joint Venture Advisors

Valuation Advisors

Valuation Advisors

Demerger and Reorganization of Reliance Infrastructure Ltd. into various business groups

Valuation of entire city of Kandla & Gandhidham under jurisdiction of Kandla Port Trust

Technical Due Diligence Valuation of Fixed Assets including Generation Assets (Power Plants) of Damodar Valley Corporation

Valuation Advisors

Sell-side Valuation Advisors / Policy Advisors

Due Diligence & Valuation

LAFARGE
CEMENT India

Valuation of CFS of Balmer Lawrie & Co. Ltd. for Joint Venture purposes

Acquisition of L & T's Ready Mix Concrete Business by Lafarge

Acquisition of KRL by CABB, Germany

Advisory

Valuation & Joint Venture Advisors

Purchase Price Allocation

Valuation Advisors

Acted as Lenders Engineer on behalf of BoI for Pacific Pipes Pvt. Ltd. (GRP Pipe Unit)

Valuation of FLAG Telecom Group Ltd. worlds largest submarine cable system with a total route length of more than 65,000 kms - connecting all the continents of the Earth

Valuation of more than 100 open plots of Land of AUDA

Lenders Engineer

Buy side advisors

Consortium Lending

Valuation of entire Real Estate Portfolio of HDFC Bank for Basel II Capital Adequacy

Acquisition of Tata Ficosa Automotive Systems Limited by Ficosa International S.A.

Valuation of Jindal SAW Ltd. for reporting under International Financial Reporting Standards (IFRS 1)

Demerger & Reorganisation of Dalmia Cement (Bharat) Ltd.

Disinvestment of Stake in Bharti Hexacom Ltd. by Telecommunication Consultants of India

BHARTI HEXACOM LIMITED

Basel II Financial Reporting

Equity Valuation

Valuation Advisors

Valuation Advisors

Sell-side Valuation Advisors

Brand Valuation of Odyssey, a leisure retail book store, for its London AIM Listing

Valuation of Telkom Kenya, Kenya for the proposed acquisition by major Indian Telecom Co.

Business Valuation of 6 Road Companies and Container Business of RIVL

Due Diligence and Valuation of Portfolio of Real Estate Properties (spread across India) for proposed Acquisition by Deutsche Bank

Valuation of HSL including port and shipyard Infrastructure

Fund Raising

Buy side advisors

Valuation Advisor

Valuation Advisors

Sell-side Valuation Advisors

Acquisition of Mars Restaurants & Sky Gourmet by IHC, London

Valuation of Oswal Woolen Mills (Monte Carlo)

Valuation of Land & Real Estate across India for Maruti Suzuki

Impairment Review of Essar Steel Ltd.

Investment in a Palm Oil Processing facility in Malaysia

Valuation Advisors

Financial Reporting

Buy-side Valuation Advisors

Impairment Review

Fairness Opinion

Acted as Advisors and Valuers to Severfield Rowens PLC for Valuation of Land Parcel.

Acquisition of Orchid Chemicals & Pharmaceuticals Ltd. by Hospira, USA

Valuation of the entire Network of Hutchison Essar (now Vodafone)

Portfolio Valuation of Multiplex Properties of Cinemax

Merger & Reorganization of Telecom & Communications Business of Reliance Group An asset base of more than Rs. 22,000 Crores

Buy Side Advisory

Purchase Price Allocation / Financial Reporting

Valuation Advisors

Sale & Lease Back Advisory

Valuation Advisors

Valuation of Sambhar Lake (A 270 sq km Salt Producing Lake)

Technical Due Diligence of one of its associates

Acquisition of Hazardous Waste Landfills sites by Onyx Asia Services

Acquisition of AuBL by Asia Pacific Breweries, Singapore

Portfolio Valuation of Kshitij Venture Capital Fund

AuBL
Restructuring Technical Due Diligence Buy-side Valuation Advisors
Purchase Price Allocation / Financial Reporting

Portfolio Review / Fund Reporting Valuation

Acquisition of Kirloskar Oil Engines by Eaton (US GAAP) Valuation of Matrix Laboratories Limited for proposed restructuring

Technical Due Diligence and Valuation of Power Generation Plants, Transmission and Distribution Assets of Torrent Power for financial reporting

Valuation of intangibles associated with acquisition of Bazee by eBay International

Acquisition of Bluedart by DHL, Germany

Valuation Advisors

Valuation & Fairness Opinion

Valuation

Purchase Price Allocation / Financial Reporting

Purchase Price Allocation / Financial Reporting

Clients

Automobile
Maruti Suzuki India Ltd. Punjab Tractors Ltd. Ashok Leyland Ltd. Ficosa International MICO - BOSCH Swaraj Mazda Ltd. Swaraj Engines Ltd. Autolite (India) Ltd. Eicher Motors Ltd. Royal Enfield Ltd. Ennore Foundries Tata Holset Ltd. Cummins Premier Ltd.

Chemicals & Fertilizers

Henkel CAC CABB, GmbH ICI India Limited Chambal Fertilizers & Chemicals Ltd. Kiri Dyes & Chemicals Ltd. SPIC Tuticorin Alkali Chemicals & Fertilizers Ltd. Karnavati Rasayan Ltd.

Consultants
KPMG PriceWaterHouse Coopers Ernst & Young Deloitte BNP Paribas SBI Capital Markets Ltd. Grant Thornton

UCO Bank Oriental Bank of Commerce Allahabad Bank Indian Bank Corporation Bank Andhra Bank Vijaya Bank Bank of Maharashtra State Bank of Travancore Dena Bank State Bank of Bikaner and Jaipur State Bank of Mysore The Jammu & Kashmir Bank ING Vysya Bank Ltd. Kotak Mahindra Bank Indus Ind Bank The South Indian Bank Yes Bank The Bank of Rajasthan Development Credit Bank Standard Chartered Bank Punjab & Sind Bank IFCI SIDBI State Bank of Patiala. State Bank of Indore United Bank of India Associates Financial Services Ltd. LIC Housing Finance Ltd. Dewan Housing Finance Ltd. Citicorp Financial Services Ltd. Catholic Syrian Bank Bombay Mercantile Co-op Bank Ltd.

Cement
Lafarge Birla Cement Ltd. Grasim Industries Ltd. Aditya Cement Ltd. J. K. Lakshmi Cement Ltd. Dalmia Cement (Bharat) Ltd. Shree Cements Ltd. Mangalam Cement Ltd. Pittie Cement Ltd.

Banking & Financial Institutions

Reserve Bank of India State Bank of India ICICI Bank Punjab National Bank Bank of India Canara Bank Bank of Baroda IDBI Bank HDFC Bank Deutsche Bank Unit Trust of India Asset Reconstruction Company of India Pegasus Asset Reconstruction Co. Ltd. SBI Capital Markets Ltd. Union Bank Central Bank of India Axis Bank Syndicate Bank Indian Overseas Bank

Advisory

FMCG
ITC Coca Cola Allanasons Glud & Marstrand Bunge India Pvt. Ltd. Godrej Beverages & Foods (Nutrine) Modern Foods Ltd. Saboo Sodium Chloro Ltd. Esveegee Breweries (Gujarat Ambuja)

Clients

Government & Public Sector

Government of India Government of United States Government of Rajasthan Government of Punjab Government of Uttar Pradesh Life Insurance Corporation of India Unit Trust of India NACIL National Insurance Company Ltd. New India Assurance Co. Ltd. Food Corporation of India

Severfield Rowens PLC Tata Steel & Strips Ltd. Steelcast Ltd. Ratnamani Metal & Tubes Ltd. Rathi Alloys Ltd. Ratnesh Metals (P) Ltd.

Logistics
Bluedart Express Ltd. DHL Worldwide Balmer Lawrie & Co. Ltd. Maersk India Pvt. Ltd. Deccan Cargo & Express Logistics Stolt Tank Containers BV BLR Transportation & Logistics Lee & Muirhead Pvt. Ltd. UPS Group Companies

Hotel, Hospitality and Entertainment

Taj Group of Hotels (Indian Hotels) Le Meridien India Tourism Development Corporation Radisson Hotel Project Duet India Hotels Ltd. Highstreet Cruises and Entertainment Chokhi Dhani Resort (Indias first 5 Start Ethnic Resort) Fort of Bundi Sambhar Lake (270 Sq. Kms. Salt Producing Lake) Cineline Entertainment (CineMax) Adlabs Films Limited Deccan Chronicle SkyGourmet Catering Mars Restaurants Gate Gourmet Entertainment One Limited

Metals & Mining Industry

Hindustan Zinc Ltd. Hindustan Copper Ltd. Manganese Ore (India) Ltd. Indian Rare Earths Limited Udaipur Mineral Development Syndicate Jaipur Mineral Development Syndicate

Manufacturing & Engineering

Eaton Corporation Richardson & Cruddas Hilti Kirloskar Oil Engines Ltd. HMT Ltd. Voltas Ltd. Flat Products Equipment Ltd. Tweezermann India Pvt. Ltd. National Engineering Industries Ltd. Varun India Ltd. Autopal (India) Ltd. Suzlon Structures Ltd.

Infrastructure
Air India (Indian Airlines) Reliance Infrastructure Limited Reliance Energy Limited Telecom & Communication Infrastructure of Reliance Communications Limited FLAG Fiber Loop Across the Globe Kandla Port Trust Hindustan Shipyard Limited Sambhar Lake, Dam, Salt Water Bodies Container & Warehousing Corp. Ahmedabad Urban Development Authority IFFCO Dams & Related structures Industrial Water Rights National Highway Projects on BOT Basis. ONYX Asia Services.

Private Equity / Venture Capital

Bennett Coleman & Co. Ltd. Indian Hospitality Corporation Kshitij Venture Capital Fund Horizon Realty Fund Evolvence India Navis Capital Duet India Hotels Ltd. IHHR Hospitality

Advisory

Iron & Steel

Essar Steel Ltd. Jindal SAW Ltd. Bhushan Steel & Strips Ltd. Bhushan Power & Steel Ltd. Steel Tubes of India Ltd.

Advisory

Clients

Petroleum, Petrochemicals, Oil and Gas Industry

Oil & Natural Gas Corporation (ONGC) Indian Oil Corporation (IOCL) Hindustan Petroleum Corporation Bharat Petroleum Corporation Ras Lanuf Refinery, Libya Gas Authority of India Adani Gas Prize Petroleum Company Hindustan Oil Exploration Company Ltd. Bongaigaon Refinery & Petrochemicals Numaligarh Refinery Greater Calcutta Gas Supply Corp. Tide Water Oil Company IBP Co.

Orchid Infrastructure Developers Pvt. Ltd. Wadia Group Lodha Group

Telecom, Information Technology & Electronics

Reliance Communications Limited Mahanagar Telecom Nigam Limited Hutchison Essar Ltd. FLAG Telecom Reliance Communication Infrastructure Cognizant Technologies Ltd. Reliance Globalcomm Telecommunications Consultants India Ltd. Reliance Infocomm Limited Tata Teleservices Limited BPL Mobile VANCO PLC IBM Daksh e-Services E Funds International Pvt. Ltd. Alcatel Nokia India Pvt. Ltd. CMC Limited Foxconn India Pvt. Ltd. India Switch Company Pvt. Ltd. Capita Offshore Business Services Aksh Optifibre Ltd.

Pharmaceuticals
Hospira Ranbaxy Aurobindo Pharma Orchid Chemicals & Pharmaceuticals Ltd. Matrix Laboratories Dishman Pharmaceuticals Trident Life Sciences Vedant Drugs and Fine Chemicals Pvt. Ltd. Core Healthcare Ltd. (Core Parentals) Emmellen Biotech Karnataka Malladi Biotics Rajasthan Drugs & Pharmaceuticals Ltd. Unique Organics Ltd.

Textile & Leather

National Textile Corporation (NTC) Oswal Woollen Mills Ltd. (Monte Carlo) Nandan Exim Ltd. (Chiripal Group) Jindal Worldwide Amitara Industries Ltd. Krishna Knitwear Ltd. Mayur Uniquoters Ltd. Kiran Overseas Exports Ltd.

Power
Bharat Heavy Electricals Ltd. Himachal Pradesh State Electricity Board Reliance Energy Limited Damodar Valley Corporation Torrent Power Ltd. Reliance Goa and Samalkot Power Ltd. Suzlon Energy Schneider Electric KEC International Ltd. Man Industries Ltd.

Others Industries
Pantaloons Odyssey India Ltd. Apple Ceramics Ltd. Vrundavan Ceramics Ltd. Deco Ceramics Ltd. Formica India Kiran Overseas Exports Ltd. Pacific Pipe Systems (Doshion) Triveni Bialetti Industries Pvt. Ltd. Creation Decors (P) Ltd, Alwar. Grapco Industries Ltd. Punsumi India Ltd. Man Structural Ltd. Construction Quality Rating Agency Indian Express Newspapers

Advisory

Real Estate
Reliance Infra-ventures Ltd. Shapoorji Pallonji & Co. Ltd. Tata Realty & Infrastructure Emaar MGF Raheja Group Kshitij J P Infrastructure Emerald Island Horizon Realty Trust IHHR Hospitality Private Ltd.

Our Asset -Our People

RBSA Firmly believes in the philosophy of Our Asset Our People. RBSA takes pride in a team of highly qualified, skilled and motivated Professionals who are encouraged to lead, innovate and excel. Our team consists of top professionals who share a common vision and passion, providing our customers with critical insights and advise to succeed in today's competitive environment.

Advisory