Divestiture Advisory
Support for selling business units or non-core assets with structured planning, transaction execution guidance, and value protection throughout the separation process.
Navigate complex separations with strategic carve-out and spin-off advisory designed for enterprise leaders. Transjovan Capital helps organizations structure transactions, prepare standalone operations, manage stakeholder alignment, and protect value through execution. From portfolio review to Day-1 readiness and post-separation governance, our team brings cross-border M&A depth and board-level perspective to every mandate.
Specialized advisory support for enterprise separations, restructuring, transition planning, and value-focused execution.
Support for selling business units or non-core assets with structured planning, transaction execution guidance, and value protection throughout the separation process.
Operational readiness planning to ensure the carved-out or spun-off business can function effectively from close, with clear governance, systems, and transition priorities.
Portfolio reviews, multi-deal planning, and strategic evaluations that help enterprises assess carve-out pathways, partnership options, and long-term capital allocation decisions.
Advisory for evaluating joint venture structures when partial separation, shared ownership, or phased strategic realignment offers a stronger alternative to a full divestiture.
Governance frameworks and tracking mechanisms that help leadership monitor stranded costs, transition milestones, and value realization after a carve-out or spin-off.
Independent strategic and M&A support for enterprises managing carve-outs, spin-offs, divestitures, and broader portfolio transformation initiatives.
Carve-outs and spin-offs demand more than transaction advice. They require disciplined planning across strategy, governance, operations, stakeholder communication, and execution. Transjovan Capital supports enterprise leaders through separation decisions with partner-led advisory, cross-border transaction experience, and a practical focus on Day-1 readiness, standalone viability, and long-term value creation rather than simply getting the deal done.
Enterprise clients rely on us for strategic depth, execution discipline, and senior-led advisory.
Every mandate is led by senior advisors with deep M&A, board, and operating experience.
We support complex transactions across the US, Europe, India, and APAC with global perspective.
Our model is built for large acquisitive enterprises managing strategic portfolio and separation decisions.
We focus on execution, Day-1 readiness, and measurable value capture beyond transaction close.
Experienced leaders guiding complex strategic transactions.
Managing Partner
Gaurav Asthana is the Managing Partner at Transjovan Capital and brings more than 21 years of experience in mergers and acquisitions and private equity. An ex-Ernst & Young and KPMG professional, he is widely recognized for cross-border M&A execution across four continents. He has advised Fortune 500 corporations, large conglomerates, and private equity funds on cumulative transactions worth USD 15 billion. His experience includes retained buy-side mandates for globally recognized enterprises such as Blackstone, Mahindra, Legrand, Altana, Sumitomo, and Cummins. Under his leadership, the firm earned recognition as the Best M&A Advisory Firm in India. He also serves in prominent industry bodies including the Indo-American, Indo-French, and Indo-German Chambers of Commerce, reflecting his strong global business network.
Head - Consumer
Deoki Muchhal is a strategist and advisor with extensive leadership experience across large multinational organizations. Having served as MD and CFO at Cargill India, he has led acquisitions, divestitures, joint ventures, and technology transformation initiatives designed to unlock long-term enterprise value. His background includes board-level exposure, corporate restructuring, turnaround strategy, and successful merger integration. Deoki brings a practical operator's perspective to strategic advisory, helping clients align financial, operational, and transformation priorities. He also has a strong interest in ventures that improve competitiveness through digital technologies. A meritorious Chartered Accountant and alumnus of a Fortune 50 high-performance leadership academy, he adds seasoned financial and strategic judgment to complex growth and transaction mandates.
Head – Financial Services
Rajesh Relan brings 37 years of experience, including 25 years in senior leadership roles across the insurance industry in India and the Asia Pacific region. He previously served as Managing Director of PNB MetLife India Insurance and has deep expertise in strategy, governance, financial planning, business transformation, and M&A. His career includes launching and scaling businesses, leading turnarounds, and executing acquisitions, including the purchase of an insurance broking company. Rajesh also serves as an independent director on boards of publicly listed companies, including Singer India Ltd. and Jaykay Enterprises. His involvement with industry bodies such as CII, FICCI, Amcham, and USIBC reflects broad market engagement. He contributes seasoned boardroom insight to strategic growth and transaction advisory assignments.
Head – IT Services
Anuraag Guptaa has 27 years of experience in IT services spanning BFSI, consulting, professional services, and BPO. He has held CEO and board-level roles at organizations including First Meridian, Quess Corp, Capgemini, and Gulf Bank. At Quess Corp, he helped build India's largest technology staffing firm, culminating in a 2016 IPO at a valuation of USD 2 billion. His strengths include operational transformation, P&L leadership, greenfield venture incubation, organizational restructuring, and navigating complex M&A environments. Anuraag also mentors and invests in niche startups, bringing a growth-oriented perspective to advisory work. He is an alumnus of Harvard Business School and holds an MBA from LSE, NYU Stern, and HEC Paris, along with Six Sigma Master Black Belt certification from GE.
Senior Advisor
Chetan Tolia brings more than 30 years of leadership experience across major industrial organizations. He has served as a director on the boards of 10 Tata companies and was CEO and Executive Director of WREPL, a Tata Power company in the renewables business. His background also includes serving as Chief HR Officer of Tata Power, CEO of Tata BlueScope Steel Limited, and head of Strategy & Planning at Tata Steel. He played a key role in forming the BlueScope Steel and Tata Steel joint venture and in shaping growth strategy for large industrial businesses. With deep exposure to strategy, joint ventures, board governance, and industrial operations, Chetan adds valuable manufacturing and infrastructure insight to enterprise advisory engagements.
Senior Advisor
A divestiture typically involves selling a business unit, asset, or subsidiary to another party for strategic or financial reasons. A spin-off usually creates a separate independent company by distributing shares of that business to existing shareholders. Both are separation strategies, but they differ in ownership outcome, transaction structure, tax considerations, and how value is realized by the parent company.
Talk with our advisors about carve-outs, spin-offs, and divestiture strategy.
Recognized in India for 2024 excellence.
Longstanding advisory experience since 2011.
Advised on USD 15 billion transactions.
Share your carve-out, spin-off, or divestiture objectives and our team will help outline the right strategic path, execution priorities, and next steps.
For immediate assistance, feel free to give us a direct call at 1800 102 5700. You can also send us a quick email at info@transjovancap.com.
For immediate assistance, feel free to give us a direct call at 1800 102 5700. You can also send us a quick email at info@transjovancap.com.