A Record Of Imagination And Skill In Unusual Deals

Kalpana Kanungo - Mumbai Bureau May 15, 2026 5,500 Views

In a market where most transactions follow familiar templates, a small but growing club of dealmakers is quietly building a record of imagination and skill in unusual deals. From complex restructurings to hybrid capital raises and bespoke M&A structures, these transactions are beginning to reset expectations in Indian and global dealmaking.

Crafting Deals When The Rulebook Falls Short

Some of the most interesting transactions today happen when standard term sheets simply cannot solve the problem on the table. Distressed assets, family-owned businesses in transition, startups with uneven cash flows and cross-border joint ventures often need structures that are built from scratch. This is where the most inventive lawyers, bankers and CFOs are earning their reputation by finding solutions that keep regulators comfortable, investors protected and promoters engaged.

The New Toolbox For Creative Transactions

Imaginative deals often blend elements of equity, debt and options to balance risk and reward across very different stakeholders. You increasingly see convertible instruments, performance-linked payouts, earn-outs for founders and staggered exits for early investors. On the governance side, carefully negotiated put and call options, step-up rights, board representation and robust information covenants are helping align the interests of strategic investors, financial sponsors and promoters who want to retain some control.

Why Smart Structures Matter For India Inc

As India’s economy matures, its deal flow is naturally becoming more complex. Succession planning in large promoter groups, consolidation in fragmented sectors and capital solutions for stressed but viable businesses rarely fit inside a simple share purchase agreement. A plain vanilla structure can leave value on the table or even derail a promising deal. The real edge now lies in the ability to design transactions that respect regulation, protect minority interests and still bring competing stakeholders to the same side of the table.

Unusual Dealmaking Highlights

Unconventional deal structures emerge when standard templates cannot balance risk and reward
Hybrid instruments, earn-outs and structured payouts are now common in complex situations
Governance rights and protections are designed as carefully as pricing and valuation
Thoughtful structuring is critical for succession, consolidation and stressed-asset solutions
Top advisers and CFOs are increasingly judged on creativity as well as flawless execution