What STEER ADVISORS does

Steer Advisory Services Private Limited ("STEER Advisors") is a boutique corporate advisory intermediary headquartered at ONE BKC in Mumbai's Bandra Kurla Complex, founded in 2013 by Rajesh Doshi. The firm provides transaction and advisory services across six core product lines: Private Equity & Venture Capital Advisory, Mergers & Acquisition Advisory, Structured Finance, Joint Ventures, Business Advisory, and Business Consulting. STEER operates on a fee-based professional services model, generating revenue through transaction fees, success fees, and retainer arrangements with corporate clients across India.

The firm serves mid-market and growth-stage enterprises with deal sizes ranging from INR 520 Mn to INR 46,800 Mn, executing 16+ closed transactions and currently managing 19 active mandates. Its sector specialisation is concentrated in five primary verticals — FMCG & Personal Care, Electric Vehicle Ecosystem, Defence & Aerospace, Paper & Packaging, and Waste Management — with secondary coverage in Financial Services/NBFC, Healthcare & Pharma, and Building Materials/Consumer Electricals. STEER was an early mover in niche segments like EV (Hero Electric, Chargezone, Electra EV), Defence & Aerospace (CoreEL, Sasmos), and Paper & Packaging (Gayatrishakti), and has executed marquee transactions including the KKR-Vini Cosmetics deal (INR 46,800 Mn) and the Kurl-on M&A (INR 20,353 Mn).

STEER maintains four Indian offices (Mumbai, Chennai, Bangalore, Ahmedabad) and operates with 11-50 employees, including senior professionals with backgrounds at Reliance, YES Bank, KPMG, Grant Thornton, and IIM/IIT. The firm is founder-owned and controlled, with no external institutional investors, and pursues a trust-based, referral-driven go-to-market rather than marketing-led client acquisition. International reach is delivered through partner networks in the U.S., Israel, Singapore, Hong Kong, and Sri Lanka.

Name

STEER ADVISORS

Legal name

Steer Advisory Services Private Limited

Website

https://steeradvisors.in

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Short description

STEER Advisors is a Mumbai-headquartered boutique corporate advisory firm providing private equity/venture capital advisory, mergers & acquisitions, structured finance, and joint venture services to mid-market and growth-stage Indian enterprises across FMCG, EV, Defence, and Packaging sectors.

Ownership category

akta.pro rank

Product category

Investment Banking & Corporate Advisory

NAICS

Portfolio Management and Investment Advice (523940), Management Consulting Services (54161), Portfolio Management and Investment Advice (52394)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Services-Management Consulting Services (8742)

akta.pro primary industry

Corporate Development & Strategic Partnerships Advisory (JVs, Alliances, Carve-outs) (BPAHAOAG)

akta.pro secondary industries

Sell-Side M&A Advisory (FSAEAGAA), Buy-Side M&A Advisory (FSAEAGAB), Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL), Corporate Strategy Advisory (BPAHADAA), Fairness Opinions & Independent Financial Advice (BPAHAOAF)

Keywords

• Investment banking advisory
• Mergers and acquisitions
• Private equity advisory
• Structured finance solutions
• Corporate advisory services

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Advisory Fees: Fee-based advisory services for private equity and venture capital fundraising, mergers and acquisitions, structured finance, joint ventures, and business consulting. Revenue is generated through transaction-based fees, success fees, and retainer arrangements with corporate clients.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

STEER Advisory Services Private Limited is a boutique corporate advisory intermediary providing investment banking and corporate advisory services including Private Equity & Venture Capital fundraising, Mergers & Acquisition advisory, Structured Finance, Business Advisory, Business Consulting, and Joint Venture advisory. The firm serves corporate clients across multiple sectors (FMCG, Electric Vehicle, Defence & Aerospace, Paper & Packaging, Waste Management, Building Materials, Financial Services, and Healthcare & Pharma) with transaction-based and retainer advisory mandates primarily in the Indian market.

Product overview

STEER Advisory Services is a corporate advisory intermediary offering a unified suite of professional services rather than a software product platform. The core offerings include Private Equity & Venture Capital Advisory, Mergers & Acquisition Advisory, Business Advisory Services, Business Consulting Services, Structured Finance, and Joint Venture services. These services are complemented by deep sector expertise across FMCG, Consumer F&B, Retail, Electric Vehicle Ecosystem, Defence & Aerospace, Paper & Packaging, Waste Management, Building Materials & Consumer Electricals, Financial Services (NBFC/Microfinance), and Healthcare & Pharma. The firm acts as a trusted intermediary connecting companies with investors and strategic partners, providing transaction execution, strategic advisory, and capital raising support across diverse industries.

Differentiator

Problem solved

Functional benefit

Products and services

• Private Equity & Venture Capital Advisory Advisory services for private equity and venture capital investments including growth capital, exit financing, acquisition financing, special situation funding, mezzanine funding, buyouts, PIPEs, and secondary exits of PE fund portfolio companies. Targeted at companies seeking capital and investors seeking investment opportunities.
• Mergers & Acquisition Advisory Domestic and cross-border M&A services covering sell-side and buy-side transactions, divestitures, spin-offs, management buy-outs, management buy-ins, carve-outs, and leveraged buy-outs. Targeted at companies pursuing inorganic growth, divestitures, or strategic acquisitions.
• Business Advisory Services Advisory services for family-owned businesses including role allocation, corporate structuring, enabling professional management, strategic initiatives, and asset holdings advising. Targeted at family-owned and promoter-driven businesses.
• Business Consulting Services Consulting assignments in select industries including market analysis, key player identification, growth triggers assessment, capital raise, and M&A advisory. Targeted at companies seeking strategic consulting support.
• Structured Finance Structured finance solutions including growth capital (term loan & working capital), event-based equity sell-out, refinancing, PE/VC buyout financing, and strategic partner buyout. Targeted at companies requiring tailored capital solutions and structured credit.
• Joint Ventures & Business Development Services Business development services for joint ventures, strategic alliances, outsourcing arrangements, and vendor supply arrangements, including technology-based JVs and cross-border partnerships. Targeted at companies seeking strategic partnerships and JVs.

Quantifiable outcome

• Successfully closed 16+ transactions across diverse sectors
• +2 more outcomes

Named customers10 records

Segments9 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• KPMG India (Deal Advisory): Big Four advisory practice offering M&A, due diligence, valuations and transaction services in India. Competes on mandates where STEER brings expertise (e.g., EV, defence), but with broader service portfolio and global reach.
• Axis Capital: Full-service Indian investment bank (part of Axis Group) offering M&A, ECM, DCM and structured finance. Larger scale and broader product set; competes with STEER for mid-to-large Indian M&A and capital raises.
• Kotak Mahindra Capital Company: One of India's leading bulge-bracket investment banks offering comprehensive M&A, ECM and DCM advisory. Competes for the larger end of mandates where STEER is active and sets benchmark fees.
• Deloitte India (M&A and Restructuring): Big Four M&A and corporate finance advisory practice in India with deep sector and cross-border capability. Competes for mid-to-large Indian M&A and JV mandates.

Regional players

• Fortune Capital: Mid-sized Indian investment bank with M&A and capital raising capabilities. Comparable in advisory scope with somewhat different sector focus and regional coverage.

Direct peers

• IndigoEdge Capital: India-focused boutique advisory firm providing M&A, private equity, and strategic advisory services. Directly comparable boutique peer operating in similar mid-market segments.
• Avendus Capital: India's largest homegrown boutique investment bank providing M&A, PE/VC advisory, and capital markets services across consumer, financial services and technology. Closest direct comparable in business model, mid-to-large deal focus, and India-centric coverage.
• Spark Capital: Indian boutique investment bank offering M&A advisory, private equity placement, and structured finance, with strong mid-market deal flow and pan-India presence. Directly comparable on services, deal sizes, and target client base.
• o3 Capital (Phoenix Advisers): Indian boutique investment bank focused on M&A and PE advisory in mid-market segments, with sector strengths in consumer and industrials — directly comparable in service mix and target client profile.

Emerging players

• Allegro Advisors: Boutique M&A and corporate advisory firm in India serving mid-market clients. Comparable in scope of services and target segment but smaller scale and narrower sector coverage.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about STEER ADVISORS