§ 01 — The Founder
CA Devansh Shah
Chartered Accountant (Member, ICAI) · IBBI Registered Valuer — Securities or Financial Assets (u/s 247, Companies Act 2013) · B.Com
Devansh founded Fintellectual Valuation on a simple conviction: valuation is a specialist discipline, and it deserves specialist attention. Too often it is treated as an add-on — a schedule produced alongside an audit, a template filled in by a junior team and signed by someone who never examined the business. Clients deserve better: a senior professional who has actually done the thinking, standing behind the number.
That conviction shaped the practice's design. Fintellectual does one thing — valuation — with no audit or competing service lines, so independence is structural rather than procedural. Every engagement runs through the same disciplined process — Scope → Analyse → Triangulate → Deliver & Defend — and every report carries the signature of the valuer who led it.
“An opinion on value is only as good as the reasoning behind it. My work is to make that reasoning independent, transparent and strong enough to defend — to a board, a regulator, or a court.”
§ 02 — Areas of Expertise
What he works on
- Business & equity valuation — enterprise and shareholding value for transactions, restructuring and disputes.
- Regulatory valuation — opinions required under FEMA, SEBI regulations, the Income Tax Act and the Companies Act.
- Transaction & M&A valuation — deal pricing support, exchange ratios and fairness views.
- Financial reporting valuation — fair value measurement, purchase price allocation and impairment testing under Ind AS.
- Startups, ESOPs & convertible instruments — early-stage equity, option pricing and complex instrument valuation.
- Insolvency & distressed assets — valuations in resolution and liquidation contexts under IBBI norms.
§ 03 — Industry Exposure
Sectors he has valued
Valuation judgement travels across industries, but the drivers of value do not — each sector rewards different questions. Devansh's engagement experience spans:
- Technology & SaaS — recurring-revenue economics, retention and unit-level profitability.
- Manufacturing — capacity, capital intensity and cyclicality.
- Healthcare & pharma — regulatory pathways, pipelines and licensing value.
- Financial services & NBFCs — book quality, spreads and capital adequacy.
- Consumer & retail — brand strength, channel economics and footprint.
- Infrastructure & real estate — long-dated cash flows, concession terms and asset-backed value.