Due diligence
Transaction due diligence for acquisitions and investments
Oogway Ventures coordinates commercial, financial and operational due diligence for acquirers, investors and lenders in India. We build the diligence around what could change the price or the structure, including customers, suppliers, debt, order book, related parties and compliance, and turn the findings into deal terms.
What's included
What our due diligence covers
Financial due diligence
Quality of earnings, normalised EBITDA, working capital, net debt and cash conversion.
Commercial due diligence
Customers and concentration, order book, pricing, competitive position and the growth plan.
Operational due diligence
Capacity, suppliers, key people, processes and the cost of keeping the business running.
Debt and contingent liabilities
Borrowings, guarantees, security created, disputes and other claims that sit outside the balance sheet.
Related parties and compliance
Related-party dealings, statutory filings and the gaps that need fixing or pricing.
Vendor due diligence
Preparing a seller's business for diligence before it goes to market, so issues surface on your terms.
How we work
Due diligence with Oogway, in four steps.
- Step 1
Scope by deal risk
We focus the work on the issues that could move price or structure.
- Step 2
Gather and test
Data requests, management meetings and site visits, tested against the numbers.
- Step 3
Report red flags
A clear list of findings, ranked by their effect on the deal.
- Step 4
Turn findings into terms
Price adjustments, escrows, indemnities, conditions precedent and warranties.
When you need it
When companies come to us for due diligence
- Before acquiring a company or a controlling stake
- Before a private equity or strategic investment
- Before a lender commits acquisition or structured debt
- Before selling, to find and fix issues first
- When acquiring a stressed or NPA-backed asset
Common questions
Due diligence: frequently asked questions
What does due diligence cover?
Due diligence tests whether a business is what it appears to be. It typically covers financial performance and quality of earnings, the commercial position, operations, debt and contingent liabilities, related-party dealings and regulatory compliance. Legal and tax diligence are carried out by specialist advisors, and we coordinate across all workstreams.
What is a quality of earnings review?
A quality of earnings review tests whether reported profits are sustainable. It adjusts for one-off items, related-party transactions, accounting choices and working-capital movements to arrive at the normalised earnings a buyer should pay for.
What is the difference between buy-side and vendor due diligence?
Buy-side diligence is commissioned by the acquirer or investor to test the target. Vendor due diligence is commissioned by the seller before a sale, so issues are known and addressed before buyers find them.
How do due diligence findings change a deal?
Findings can lead to a lower price, a different structure such as deferred consideration, an escrow or holdback, specific indemnities, or conditions that must be met before closing.
Do you carry out diligence for lenders?
Yes. Lenders funding acquisitions or structured debt use diligence to test cash flows, security and existing obligations before they commit.