IPO
Raised
INR 72,780.15 MN
Through IPO
About Intensive Fiscal
A partner through every cycle.
Intensive Fiscal Services Private Limited is a SEBI-registered Category I Merchant Banker. Since 1997, the firm - founded by D.K. Surana - has advised India's leading enterprises and business families through their most consequential capital and ownership decisions, partnering with 300+ corporate groups across 60+ cities. We work as long-term partners to the companies we advise, combining independent counsel with a genuine commitment to their growth.
Know Our Story144+
Transactions
$6 Bn+
Funds Raised
25+
Capital Market Transactions
100+
M&A Deals
38+
Open Offers
TRANSACTION OVERVIEW
A Track Record
of Success
We have a proven track record of delivering exceptional results for our clients across diverse sectors.
IPO
Raised
INR 4510 MN
Through IPO
IPO
Raised
INR 4700.60 MN
Including Pre-IPO of
INR 700 MN
QIP
Raised
INR 6249.95 MN
Through QIP
PE
Exclusive advisor on
Strategic Minority
Stake
Stake
General Atlantic's investment
in Balaji Wafers.
IPO
Raised
INR 72,780.15 MN
Through IPO
IPO
Raised
INR 4510 MN
Through IPO
IPO
Raised
INR 4700.60 MN
Including Pre-IPO of
INR 700 MN
QIP
Raised
INR 6249.95 MN
Through QIP
PE
Exclusive advisor on
Strategic Minority
Stake
Stake
General Atlantic's investment
in Balaji Wafers.
Trusted by leading businesses. Driven by insight. Delivered with integrity.
OUR SERVICES
Comprehensive Advisory Solutions
Tailored investment banking support across capital raising, deal execution, and strategic growth.
Equity Capital
Markets
End-to-End Advisory for Public Offerings and Capital Raising.
Private
Equity
Advisory for Private Capital Raising, Investor Access, and Long-Term Value Creation.
Mergers & Acquisitions
Advisory for Mergers, Strategic Acquisitions, Corporate Divestitures, and Transformational Transactions.
Debt
Syndication
Facilitating Growth Through Innovative Debt Structuring Solutions.
Fairness
Opinion
Independent Fairness Opinions for High-Stakes Corporate Transactions.
Strategic
Advisory
Unlocking Enterprise Value Through Strategic Planning, Transformation and Execution.
WHY CHOOSE INTENSIVE FISCAL
Trusted Where
It Matters Most
Senior expertise and sharp execution for the capital decisions that shape your future.
Advising India’s leading enterprises and business families since 1997.
See Our Transactions
Led by Experience
Senior expertise and sharp execution for the capital decisions that shape your future.
Committed to Your Growth
We help create lasting value for the founders and shareholders we work with, aligned with your success, not the deal.
Tailored to Your Situation
Every mandate is structured around your specific goals and constraints, never off-the-shelf.
Access to the Right Capital
Three decades of investor and institutional relationships, connecting you to the capital that fits.
Research-Led Advice
Every recommendation grounded in rigorous analysis and a close read of the market.
Selected Work
Success Stories
Capital Markets
From Gold to Capital Markets
Augmont Enterprises Limited
M&A Advisory
Celebrating a Milestone in Clean Energy
Waaree Energies Ltd.
Enabled a leading pharma company to expand its API portfolio through a strategic acquisition.
Capital Markets
Powering Vision, Driving Market Confidence
Lenskart Solutions Ltd.
Led the company's successful IPO on NSE & BSE, marking a new chapter of growth.
Strategic Advisory
Building India's Retail Growth Story
Vishal Mega Mart Ltd.
Advised on growth strategy and raised expansion capital from institutional investors.
Capital Markets
From Bhujias to the Bourses
Bikaji Foods International Ltd.
Helped frame a strong market story around scale, distribution, and category leadership.
M&A Advisory
A New Chapter in Healthcare Excellence
Park Medi World Limited
Advised shareholders on the sale of a majority stake to a global strategic buyer.
Consumer Growth
From Eastern India to Every Wardrobe
Baazar Style Retail Limited
Supported brand positioning and growth plans for a fast-scaling consumer business.
Private Equity
Unearthing Value, Unlocking Capital Markets
Midwest Limited
Partnered with the founders to accelerate expansion and strengthen operations.
Healthcare Advisory
Advancing Healthcare, Empowering Growth
Yatharth Hospital
Advised on strategic healthcare initiatives to drive long-term value and operational excellence.
Capital Markets
From Chemistry to Capital Markets
Ami Organics Limited
Guided the transition from chemistry expertise to capital market success through strategic advisory.
Debt Advisory
Innovating Plastics, Accelerating Growth
All Time Plastics Limited
Arranged structured debt to support the development of a 500MW+ pipeline.
Healthcare Advisory
From Gathiyas to Growth Stories
Gopal Snacks Limited
Advised on strategic initiatives that strengthened value creation and operational focus.
TESTIMONIALS