Investment Banking case studies, worked step by step

Cases
100
Traced to a firm
55
Topics
12
Hard
30
Topic
All topicsLBO9Accretion and dilution7Reading financials8Restructuring11M&A strategy9Deal execution7Operating cases and estimation8Credit and leveraged finance9Comps and relative value9Sector valuation8Capital markets and financing8DCF and intrinsic value7
Level
AnyWarm upCoreHard
Source
AnyReported at a firmStandard
Showing 81–90 of 100
  1. 081An Indian parts maker wants to buy a German drivetrain firm for EUR 300 million. It can borrow in euros at 5% or rupees at 9%, and the rupee is expected to weaken about 3% a year. Which currency should fund the deal, and what risk does each choice carry?M&A strategyHardElite boutique IBCorporate development
  2. 082A paint maker with a 40% gross margin is considering a 5% price rise. How much volume can it lose before gross profit falls, and what would you need to believe about customers to go ahead?Operating cases and estimationWarm upMiddle market IBConsulting style cases
  3. 083A food company has Rs 700 crore of debt, Rs 50 crore of cash and a 3.5x net leverage covenant. EBITDA falls from Rs 200 crore to Rs 170 crore. Is the covenant breached, how much headroom was there, and how large an equity cure fixes it?Credit and leveraged financeWarm upCorporate bankingLeveraged finance
  4. 084A DCF gives a software company an enterprise value but you do not know its share price, and it has options and RSUs outstanding. Solve for the value per share with the treasury stock method, and explain how stock-based compensation must be treated consistently.DCF and intrinsic valueHardEvercoreMenlo Park · 2025
  5. 085A hotel company has an Rs 800 crore bond due in 12 months, EBITDA of Rs 120 crore and lenders willing to lend 4.5x. Should it refinance, amend and extend, or sell a hotel? Size the gap and recommend a path.RestructuringCoreRestructuring IBLeveraged finance
  6. 086A tower company owns 20,000 telecom towers with 1.6 tenants each, paying Rs 5 lakh a year per tenant, and each tower costs Rs 3 lakh a year to run. What is EBITDA today, and what is it if tenancy rises to 1.9 with no new towers?Sector valuationWarm upTMT IBIndustry coverage
  7. 087A steel company with 100 crore shares at Rs 120 announces a 1-for-4 rights issue at Rs 80. What is the theoretical ex-rights price, what is each right worth, and what happens to a holder who does nothing?Capital markets and financingWarm upEquity capital marketsDebt capital markets
  8. 088Stock pitch: an auto parts maker trades at 14x earnings against peers at 20x, and management guides electric vehicle parts from 10% to 25% of revenue by FY28 at higher margins. Build a variant view, the catalysts and the risks, and say what the market is missing, if anything.Comps and relative valueCoreWells Fargo SecuritiesCharlotte · 2025
  9. 089A paint company earning Rs 250 crore on 50 crore shares wants to buy a coatings firm earning Rs 40 crore, all in cash borrowed at 8% before tax, with Rs 10 crore of pre-tax synergies. What is the highest price it can pay without diluting EPS?Accretion and dilutionCoreBulge bracket IBElite boutique IB
  10. 090A board has two bids: Rs 1,000 crore conditional on financing with an 85% chance of closing, or Rs 950 crore fully committed. A failed deal leaves a standalone value of Rs 700 crore and six lost months. Which is worth more, and what reverse break fee would make the higher bid clearly better?Deal executionCoreElite boutique IBMiddle market IB

Company names and figures are illustrative.