Client Profile
A second-generation family-owned industrial manufacturer in India with $50M revenue but an inefficient capital structure heavily weighted toward equity.
The Challenge
The company had zero debt despite strong, predictable cash flows. This ultra-conservative approach was limiting growth and depressing return on equity for family shareholders.
Our Approach
Nirji performed a capital structure analysis, designed an optimal debt-equity mix, arranged a $20M term loan facility, and structured a $5M shareholder dividend recapitalisation — allowing the family to extract liquidity while maintaining control.
Solution Delivered
Improved ROE from 8% to 14%, arranged $20M in growth capital at attractive terms, and facilitated $5M in family liquidity without diluting ownership.
Measurable Outcomes
8% → 14%
ROE Improvement
$20M
Growth Capital Arranged
$5M
Family Liquidity
0%
Ownership Dilution
"Nirji showed us that our conservatism was actually costing us money. The new structure funds our growth and rewards the family."
How This Connects to Our Broader Practice
This engagement exemplifies how Nirji Ventures integrates multiple capabilities to deliver end-to-end results. Companies facing similar challenges often benefit from our investment banking practice for capital transactions, business transformation consulting for operational improvements, and financial advisory for structuring and governance.
For companies expanding internationally, our global expansion advisory provides market entry support across 30+ countries. Early-stage ventures can explore our startup consulting practice for strategic guidance from pre-seed through Series B.
Browse our insights library for research and frameworks on growth strategies, funding stages, investor evaluation criteria, and exit planning. View all case studies to see more examples of our work.