About Elite Valuation
Elite Valuation is an independent, Valuation and Boutique advisory firm in India, trusted for assignments where financial judgment, regulatory interpretation, and transaction context intersect. Headquartered in Ahmedabad, the firm advises Promoters, Investors, and Corporate leadership teams across India on Valuation, ESOP, M&A, FEMA, AIF, TP and other Structuring decisions.
Rather than operating as a volume-driven valuation practice, Elite Valuation focuses on complex, high-impact engagements that demand senior involvement, regulatory clarity, and defensible outcomes—whether for transactions, financial reporting, regulatory filings, or strategic decision-making.
Our work is grounded in deep Valuation expertise, supported by a strong understanding of regulatory frameworks, transaction structuring, and cross-border considerations. Every engagement is approached with independence, professional judgment, and accountability, ensuring outputs that stand up to scrutiny from auditors, regulators, investors, and counterparties.
As a boutique firm, Elite Valuation combines the Technical depth of large advisory firms with the focus, responsiveness, and partner-level attention that complex mandates require.
15+ Years of Experience
500+ Client Engagements
100% Compliance-Ready
CA Sagar Shah, Founder
Mr Sagar Shah is the Founder of Elite Valuation and leads the firm’s Valuation and Advisory practice. With over 15+ years of professional experience, he advises Promoters, Investors, and large Multinational Groups on complex Valuation and Transaction-related matters across India and Globally.
His expertise spans Business Valuation, ESOPs, M&A, FEMA, Transfer Pricing, Cross-border Taxation and AIF advisory & compliances, with a strong focus on technically defensible and regulator-aligned outcomes for listed companies and large private groups.
Academically distinguished, Sagar is an All India Rank holder in the CA examinations and is also a Company Secretary and an IBBI Registered Valuer. This unique combination enables him to operate seamlessly at the intersection of Valuation, Regulation, and Corporate Strategy, particularly in judgment-intensive and high-stakes assignments.
He has led Valuation engagements for a wide range of purposes, including Mergers & Acquisitions, ESOPs and Sweat Equity, Intangible Assets, Financial Reporting, Restructuring, Strategic Transactions, and regulatory compliances. His work covers Valuation of Businesses, Shares & Securities, Intangible Assets, and Complex Capital Structures, with a consistent emphasis on credibility before auditors, regulators, and investors.
At Elite Valuation, he plays a central role in overseeing client engagements and execution quality. His responsibilities include structuring Valuation approaches, reviewing complex Financial Models, ensuring compliance with applicable Valuation standards, and maintaining the firm’s governance and quality framework. He remains closely involved in assignments requiring significant professional judgment and regulatory alignment under Indian accounting and legal standards.
Beyond Valuation, he regularly advises on ESOP structuring, FEMA advisory, AIF structuring, Transfer Pricing, and Cross-border Taxation, supporting clients on transaction structuring, regulatory positioning, and documentation for India-centric and cross-border engagements.
Under his leadership, Elite Valuation has evolved into a boutique advisory firm recognized for its objectivity, governance discipline, and credibility among Promoters, Investors, Auditors, Listed Companies, and Regulators.
Meet the Team
Behind every accurate Valuation is a team that cares about precision and integrity. Our experts combine technical excellence with real-world business understanding to deliver Valuations that stand up to scrutiny.
CA Binit Shah
CA Harsh Dharamdasani
Deeksha Upadhyay (MBA)
CVA Himanshu Tilani (MBA)
Bhoomi Shah (CS, LLB)
Jainam Shah
Jeet Panchal
Raj Bhojwani
Our Clients
Trusted by Leaders.
Proven by Results.
What founders, CFOs, and investors say about working with Elite Valuation.
"The team at Elite Valuation was very helpful in our multiple valuations. CA Sagar Shah personally ensured the valuation was objective and clearly explained to us, which helped fix the gap during negotiations. They are responsive, professional, and truly understand the complexities of M&A. Highly recommend their expertise for any deal."
"We've been working with Elite Valuation for our ESOPs for a few years now, and they've been great. They handle the complex regulatory side of things very smoothly, making sure our reports are always audit-ready and easy to understand. The team is professional and always help us meet a deadline, and they really know how to manage equity valuations for larger companies. Highly recommended if you need a reliable partner for compliance."
"Elite Valuation has been our go-to firm for our all type of valuations be ie Merger, ESOP, Preferential Valuation of listed companies. They understand the nuances of different regulations, complex valuation modelling and always ensure the assumptions are well-supported and defensible during audits. Their consistency and reliability make them a trusted partner for all of our Valuation requirements ."
"We engaged Elite Valuation for a merger valuation involving more than 12 group companies, and the experience was seamless. Mr Sagar Shah and his team built a robust model that satisfied all stakeholders. Their understanding of regulatory requirements and valuation complexities made them an invaluable partner throughout the process."
"Sagar and his team understand ESOP and Business valuation and compliance very well. What we like most is that they take the time to explain the numbers and the logic behind them, which has been very useful for us internally. It feels like working with a team that genuinely knows the space well."
"We issued compulsorily convertible debentures as part of a funding round, and Elite Valuation provided a robust valuation that addressed all regulatory and stakeholder requirements. Their familiarity with instrument-specific valuation methodologies and SEBI requirements was very evident."
"As a first-time fundraiser, we had no idea where to begin. Elite Valuation built an investor-grade financial model and a detailed Investor Memorandum for us, while guiding us on exactly what institutional investors look for. Mr. was patient, responsive, and made the entire process approachable. We walked into every investor meeting fully confident. Truly a reliable partner for anyone navigating fundraising for the first time."
"We have engaged Elite Valuation across a range of assignments, including share issuances, transfers, ESOPs, preferential allotments, rights issues, and merger valuations. Their execution has consistently reflected strong technical depth and a clear understanding of regulatory frameworks. The team delivers well-structured, defensible valuation reports with a high level of precision and professionalism. Their ability to manage complex mandates within tight timelines, without compromising on analytical rigor, is particularly noteworthy. Elite Valuation combines technical expertise with commercial insight, making them a dependable partner for valuation engagements. We highly recommend their services.""
"Over the last few years, we've engaged Elite Valuation for multiple valuation projects for multiple of our clients. Their reports are always comprehensive, well-documented, and fully aligned with regulatory requirements under Income-tax and FEMA. CA Sagar Shah's insights were instrumental in ensuring a smooth process and his expertise added tremendous value throughout. Highly recommended for multinational enterprises and large firms."
