The Kautilya Blog & Newsletter
Advisory guides and deal-structure teardowns from the Kautilya team — market intelligence and acquisition frameworks on the left, deal-by-deal newsletter issues on the right.
The Kautilya Blog
Market intelligence, deal breakdowns, and acquisition frameworks from the Kautilya advisory team.
New to acquiring a business? Learn what a buy-side M&A advisor does, why buyers in India use one, and how the process works — explained simply.
Read Article →A plain-English guide to search funds: how search and acquisition capital work, the 1.5x step-up, searcher equity vesting, target company criteria, and where the model fits — and doesn't — in India.
Read Article →Family-owned businesses make up most SME listings in India. Here's what makes acquiring one different: succession dynamics, informal records, and diligence red flags.
Read Article →The Kautilya Newsletter
Deal-structure teardowns from Kautilya's advisory desk: buyer, target, structure, and a scorecard for every Indian M&A deal worth studying.
Subscribe on Beehiiv →JSW Paints bought Akzo Nobel India (Dulux) for up to ₹12,915 Cr and became India's No. 4 paints player overnight. Full breakdown of the deal structure, valuation, and buy-vs-build lessons.
Read Teardown →Lockheed Martin paid $3.45B for Ultra Maritime, an undersea-warfare business Advent International bought in 2022 and grew from $494M to an estimated $784M in revenue. Here's the deal, the multiple, and what it means for buy-side value creation.
Read Teardown →REA Group didn't sell Housing.com for cash — it swapped operating control for a 24.9% stake in Aurum PropTech. Kautilya's deal-structure teardown of India's biggest proptech consolidation move of 2026.
Read Teardown →KKR turned a Rs. 3,100 Cr pharma acquisition into a Rs. 25,689 Cr exit in five years. Here is what the 24.8x EBITDA Torrent-JB Chemicals deal means for founder-owned pharma businesses in India — and how to close the valuation gap before you engage a bank.
Read Teardown →