People normally relate investment banking either to investment or to banking. But it is neither of the two. This book tells u what investment banking is, how it started, what investment banks do, and HOW they do the Valutaion of companies, M&As, PE Deals etc.
Preface to the Second Edition
“Bharti Airtel signed a deal to acquire the African operations of Kuwaiti telecom company Zain at an enterprise valuation of $10.7 billion. The deal was concluded at an EBITDA multiple of 8.2x.”
“Goldman Sachs Invested $450 million in Facebook, which valued Facebook at $50 Billion. At $50 billion, Facebook is trading at a multiple of about 100 times of its earnings.”
These are the kind of statements we often read in newspapers or hear on business channels on television. And many of us often wonder as to how these values were derived and how the multiples were calculated? This is what, this book exactly explains. The Book acts as a self-guide and helps you in valuation of any company you wish to value for, using two most commonly used valuation tools.
• Trading Comps – Analysis of The Comparable Listed Companies
• Deal Comps – Precedent Transaction Analysis
This book is originally inspired by and is designed for the capital markets’ aspirants and participants. The book acts as the first guide to the capital markets’ aspirants who wish to make a fruitful career in finance or in investment banking domain and as a useful resource and reference for the capital market participants who quickly wish to learn the valuation of companies or refine and fine-tune their skills and compare the companies on fundamental basis for mergers, acquisitions, private equity investments, etc. This book is also highly beneficial for investment banking trainers providing various training programmes on valuation of companies.
Detailed Contents of the Book are as below:
Chapter 1: The Origin of Investment Banking (Pg 21)
Chapter 2: The Business of Investment Banks (Pg 31)
Chapter 3: Equity Offerings & Exit (Pg 57)
Chapter 4: Private Equity (Pg 89)
Chapter 5: Understanding The Financial Statements (Pg 111)
Chapter 6: Valuation Overview (Pg 153)
Chapter 7: Valuation Based on Multiples – Trading Comps & Transaction Comps (Pg 163)
We hope this book will help establish a firm foundation for driving a brighter future in investment banking domain for the aspiring generations of investment banking professionals.
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