Founder - Elite Valuation
CA Sagar Shah
IBBI Registered Valuer
Chartered Accountant (All India Rank) · Company Secretary · Ex-Ernst & Young.
15+ years advising Promoters, Investors, and MNCs on Valuation, ESOP, M&A, FEMA, AIF, Transfer Pricing, and Cross-Border Transactions across India.
- CA — All India Rank
- Company Secretary
- IBBI Registered Valuer
- Ex-Ernst & Young
- 500+ Clients
Years of Experience
Clients Served
Big 4
Credentials (CA · CS · RV)
CA Sagar Shah
- IBBI Registered Valuer
About the Author
From Big Four Advisory to
India's Leading Valuation Practice
CA Sagar Shah is the Founder of Elite Valuation - India's premier independent Valuation and Boutique Advisory firm headquartered in Ahmedabad. With over 15 years of experience spanning Big Four advisory, cross-border transactions, and complex regulatory valuations, Sagar Shah is among the most credentialed valuation professionals in India.
"From the boardrooms of Global Giants to the edge of the Finance world — I'm Sagar Shah, a CA who has built a practice where financial judgment, regulatory precision, and transaction experience converge."
Big Four Foundation - Ernst & Young
Before founding Elite Valuation, Sagar Shah built his professional foundation at Ernst & Young (EY). At EY, he worked across Transaction Advisory, Valuation, Transfer Pricing, Direct Tax, and Cross-Border Taxation — gaining exposure to multinational engagements across the USA, India, UAE, and Europe. That Big Four rigour directly shapes Elite Valuation's approach to documentation, independence, and quality.
Tripartite Credentials - CA · CS · IBBI Registered Valuer
Sagar Shah holds a rare combination of three credentials: an All India Rank in CA (top 0.05% of ICAI candidates), a qualified Company Secretary from ICSI, and IBBI Registered Valuer status under IBBI regulations. This tripartite qualification enables him to operate at the intersection of financial valuation, corporate law, and regulatory compliance — providing a single authoritative opinion across all three dimensions.
Practice Built for High-Stakes Mandates
At Elite Valuation, Sagar Shah leads a multidisciplinary team of CAs, CVAs, CSs, and MBAs serving 500+ clients — from Promoters and Startups to Listed Companies, MNC subsidiaries, and Family Offices. He directly advises on ESOP structuring, AIF compliance and structuring, FEMA advisory, Transfer Pricing, and M&A transactions. Every report is built to withstand scrutiny from auditors, NCLT benches, SEBI, RBI, and investor due diligence teams.
Qualifications & Registrations
Credentials That Command Regulatory Authority
Cleared CA Final with an All India Rank — top 0.05% of candidates nationally. Provides the analytical foundation for every valuation engagement.
Qualified CS from ICSI — deep expertise in Companies Act 2013, SEBI regulations, and corporate governance for every transaction and restructuring.
Registered for Securities or Financial Assets — the statutory qualification required to sign valuation reports for NCLT, ROC, RBI, SEBI, and IT filings.
Professional Journey
Career & Experience
2011-2020
Transaction Advisory, Valuation & Transfer Pricing
Led valuation, transfer pricing, direct tax, and transaction advisory engagements for listed companies, multinational corporations, and PE-backed businesses. Developed Big Four-standard expertise in complex financial modelling, cross-border taxation structuring, regulator-aligned documentation, and due diligence — including multinational assignments spanning USA, India, UAE, and Europe. Built the methodological rigour that now underpins Elite Valuation's practice.
Valuation
Transfer Pricing
Transaction Advisory
Cross-Border Tax
Direct Tax
Financial Modelling
2020 - Present
Founder
Elite Valuation
Founded Elite Valuation as an independent, boutique Valuation and Advisory firm focused on defensible, regulator-aligned outcomes. Built and leads a multidisciplinary team of CAs, CVAs, CSs, and MBAs serving 500+ clients across corporate, startup, and investor ecosystems pan-India. Directly leads high-stakes mandates in business valuation, ESOP structuring, M&A advisory, AIF compliance & structuring, FEMA advisory, SEBI valuations, and cross-border taxation — producing outputs that withstand scrutiny from auditors, NCLT benches, SEBI, RBI, and investor due diligence teams.
Business Valuation
ESOP Advisory
M&A
AIF Structuring
FEMA
SEBI
Income Tax
Financial Modelling
Specialisation
Areas of Expertise
- Business & Company Valuation
- ESOP & Sweat Equity Valuation
- M&A Valuation & PPA
- FEMA Valuation (FDI / FPI / ODI)
- SEBI Valuation
- Company Law Valuation (NCLT)
- Intangible Asset Valuation
- Startup & Pre-Revenue Valuation
- Income Tax Valuation
- AIF Structuring & Compliance
- Transfer Pricing Analysis
- Financial Modelling & DCF
- Family Business & Succession
- Cross-Border Taxation Advisory
- ESOP Design & Advisory
Speak Directly With CA Sagar Shah
For complex Valuations, ESOP structuring, FEMA advisory, AIF compliance, M&A transactions, or regulatory mandates - connect with the founder directly.
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."
Published Insights
