Practitioners’ Insights: Convertibles and Early Stage Valuations

Practitioners’ Insights: Convertibles and Early Stage Valuations

  • June 18, 2020
  • 5:30 PM - 6:30 PM IST
  • Online


With early stage companies accounting for a large part of the aggregate PE/VC funding in India, it is imperative to understand the choice of instruments these companies use and also to be able to value these instruments appropriately.

This webinar will focus on understanding the key terms of the convertible preference shares (CPS) that VCs use. The session will also demonstrate the use of an option pricing approach to better understand the valuation of early stage companies.

Learning outcomes:
1. Why do VCs invest through CPS in early stage companies?
2. What are the special rights attached to CPS?
3. How does one value these instruments?
4. What happens in down cycles to the various rounds of CPS—do they decline in value proportionately?
5. How does one use option pricing for the valuation of such instruments?

Note: Members, please go through the following refresher reading on private equity valuation. This webinar contains some content on best practices applicable to Indian markets. Private Equity Valuation: https://bit.ly/3cpKHut

 

About the Speaker

Navin Vohra, CFA, Partner, Transaction Advisory Services I India Head—Valuations, Modelling and Economics @Ernst & Young Merchant Banking Services. He heads the Valuations, Modelling and Economics practice of Ernst & Young India. He has 25 years of experience in valuations and equity analysis.

 

 

 

Moderator

Shreenivas Kunte, CFA, CIPM, is a director of continuing education and advocacy at CFA Institute. In this role, Mr. Kunte contributes to thought leadership in the investment management profession. He writes on investing topics in leading publications and represents CFA Institute at conferences and forums. Mr. Kunte serves as an external research scholar at the Indian Institute of Technology Bombay. Previously, he worked as the country trading strategist for Citi in Tokyo, Japan. He holds a degree in computer engineering from the University of Mumbai.

 

 

Professional Learning for CFA Institute Members

CFA Institute members: Provide your CFA Institute ID number upon registration to facilitate the entry of PL credit into your record at the close of this live webinar. Credit will not be recorded if no CFA Institute ID provided is provided. You’ll receive an automatic notification to your email address on file once these credits have been entered into your record. Please allow 10 business days to receive your notification.

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2020-6-18 5:30 pm 2020-6-18 6:30 pm Asia/Kolkata Practitioners’ Insights: Convertibles and Early Stage Valuations With early stage companies accounting for a large part of the aggregate PE/VC funding in India, it is imperative to understand the choice of instruments these companies use and also to be able to value these instruments appropriately. This webinar will focus on understanding the key terms of the convertible preference shares (CPS) that VCs Online
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