Past Transactions/Case studies

Restructuring of a Manufacturing Company

ABC Manufacturing Limited had 3 verticals and had a combined turnover of over 80 Crs and a negligible net profit. On critical examination, it was identified that one of the three verticals contributed 60 crs of turnover and had a 15% PBT and the other verticals were incurring losses. It was also identified that short term funds were used for long term purposes. Ascend was able to restructure the Bank Loans and spin off the profitable vertical into a separate Company which as of date, has exceeded the turnover of 100 Crs with more than 10 Crs in PAT. Ascend now works closely with the promoters of the Company for a Main Board Listing in 3-5 years time. Ascend also helped the Company sell one of the two verticals and close a small equity deal to support the last verticals.

Debt Funding for a Steel Galvanizing Unit

ABC Steel Galvanizing Unit was a newly established entity which intended to set up a steel galvanizing unit in sriperumbature Chennai. Ascend did the business feasibility report and also syndicated the required funds of INR 100 Million from HDFC Bank. The business feasibility report was extensive and helped the promoters to understand the business and the cash flow requirements better. Ascend also helped the Company raise the required working capital funds from HDFC Bank. Banks have challenges funding new Companies and green field projects, however Ascend was able to demonstrate the project feasibility and ensure sanction of required limits.

Pre-Investment Diligence, Structuring and IPO

ABC Software Ltd was a mid-size software Company which aimed to get listed on the mainboard of BSE and NSE. Ascend helped the Company in restructuring including issue of ESOP, Conversion of Debt into Structured equity, Rights Issue, Bonus Issue, OCPS, CCPS etc. Ascend also helped in issue of shares to Private Equity Fund. Ascend presently in assisting the Company in its transition from a Private Company to potential Listed Company. Ascend presently works with the Company to support the proposed Initial Public Offering (IPO) p>

Real Estate Project Completion

A real estate project in the outskirts of Chennai was left uncompleted and the Company was admitted to CIRP. Ascend represented the interest of the home buyers and ensured that the project was completed and the flats were handed over to the association. The role of Ascend included strategizing the overall plan, negotiating with the new developer, finalizing the terms and conditions of the redevelopment plan, obtaining necessary orders from RERA for completing of the project.

Scheme for restructuring Under Sec 230 for an NBFC Company

A NBFC Company was unable to collect its advances and was unable to repay its depositors. This lead to suspension and consequent cancellation of its NBFC license. Ascend was able to identify the core problem and devise a scheme under Sec 230 of the Companies Act, 2013. Ascend had to mitigate multiple challenges in devising the scheme. Ascend worked closely with the Statutory Auditors, Regulatory authorities including RBI, the law firm and the Management and ensured that the scheme was successfully filed with honorable NCLT, Chennai.

Compounding of a complex FEMA case

Ascend has experience in handle complex FEMA cases and one of such case was compounding of a offence which including multiple non-compliances including valuation of shares, non-compliance with respect to share transfer process and lack of disclosures. This compounding assured significance as the Company was due to receive PE funds and completion of all pending compounding cases was a pre-requisite for release of the PE funds. RBI Chennai did not have any earlier cases of similar nature and Ascend was able to complete the process with constant interaction with the officials of RBI, Chennai.

Incorporating Indian Subsidiaries of Foreign Companies

Ascend has helped foreign residents in setting up Indian subsidiaries/entities. Ascend had helped foreign national from various countries set up their business in India including USA, UK, Germany, Singapore, Malaysia, Middle east etc. Ascend spends quality time in ensure that the business structures are efficient and effective.

ESOPs and Private Equity for Leading Information Technology Company

Ascend has played a crucial role in bringing into effect an Employees Stock Option Scheme (ESOPs) for 1000 + employees of a leading company engaged in the Information Technology sector. Further, Ascend also worked hand – in – hand with the Company for it to avail an amount of close to USD 10 Million through private equity for the Company’s expansion.