Funding instruments structured so the terms actually hold up.
CCPS, OCDs and other funding instruments designed and documented correctly — so the economic and control terms you agree to are enforceable, not just implied.
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The instrument you choose shapes control and economics for years
Compulsorily Convertible Preference Shares (CCPS), Optionally Convertible Debentures (OCDs) and other funding instruments each carry different implications for control, economics, conversion mechanics and tax treatment. Getting the structure wrong doesn't show up immediately — it shows up at the next round, or at exit, when the terms don't work the way anyone assumed.
We help structure the right instrument for your specific round — advising on CCPS vs OCD vs equity, drafting the conversion terms, liquidation preference and anti-dilution provisions clearly, and making sure the documentation actually reflects the commercial deal both sides agreed to.
CCPS and OCDs carry materially different tax and regulatory treatment under Indian law, and different implications for how control and economics play out at conversion. This is a structuring decision, not a documentation formality.
What's included
A standard instrument design engagement includes:
Instrument selection
Guidance on CCPS, OCD or equity based on your round's specific commercial terms and investor requirements.
Conversion mechanics
Clear, unambiguous conversion terms — ratio, triggers and timing — drafted into the documentation.
Liquidation preference
Preference terms structured and reviewed for what they actually mean in an exit scenario.
Anti-dilution provisions
Broad-based or narrow-based anti-dilution terms reviewed and negotiated where relevant.
Regulatory compliance
Instrument structuring aligned with FEMA, Companies Act and RBI requirements as applicable.
Documentation review
Term sheet and definitive agreements reviewed to ensure they reflect the actual commercial deal.
Term sheet on the table and not sure about the instrument terms?
Let's review it before you sign, not after.
How we structure your funding instrument
1. Commercial terms review
We understand the round's commercial deal — valuation, control, economics — before recommending an instrument.
2. Structuring & drafting
The instrument is structured with clear conversion, preference and anti-dilution terms, reviewed against regulatory requirements.
3. Documentation & closing
Definitive documentation is reviewed to confirm it matches the agreed terms, ahead of closing.
Instrument structuring typically runs alongside your round's negotiation timeline, from term sheet through to closing.
Get a clear, itemised quote.
Tell us about your business and we'll size up exactly what this service costs for you — no obligation.
Pricing
Pricing depends on round complexity and the number of instruments or investor classes involved. See our pricing page for indicative ranges, or get an exact, itemised quote in one call.
Frequently asked questions
What's the difference between CCPS and OCD?+
Do you draft the actual legal documents?+
Can you review terms an investor has already proposed?+
Does instrument choice affect my tax position?+
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Clear conversion terms, correct regulatory treatment, no ambiguity later.