This case study examines the valuation of a Mumbai-based D2C startup undertaken to support a seed-stage fundraising round. Using a structured multi-method approach, including DCF, venture capital benchmarks and comparable company analysis, the engagement focused on balancing rapid growth potential with execution and margin risks. The valuation provided a defensible reference point for investor negotiations and strategic decision-making.

The transfer of unquoted equity shares of an Indian company between two resident individuals is a common transaction, often arising in family settlements, business restructuring, startup cap-table management, rewarding advisors and private agreements. However, such transfers carry tax implications under the Income-tax Act, 1961, particularly under sections 50CA and 56(2)(x), which should be accounted for before executing such transactions. In this article, we will consider a