Investment Banking Modules

We have specially crafted our Investment Banking modules to train a participant in every aspect of Finance including Financial accounting, Financial modelling, Risk modelling, Statistical Modelling, Portfolio modelling, Power point skills, excel, VBA and many more . All the below mentioned modules are to be taught practically, so that a participant can gain hands on experience of real world in a simulated environment. The below mentioned modules are available as a package as well as on standalone basis.

We provide certification for all the below mentioned modules (separately as well) endorsed jointly by Chitkara University, Bombay Stock Exchange and Marketconnected to the successful participants. To fulfil the certification requirements, a participant has to complete the end of module exam and score at least the minimum passing marks.

Module 1: Accounting and Basic Excel

  • Basic principles of Accounting
  • Financial Ratios
  • Overview of Selected Accounting standards
  • Overview of IFRS vs US GAAP
  • Overview of SEC filings
  • Overview and working knowledge of Excel
  • Formulae useful for the coming weeks in comps and models
  • Advance functions + combination of functions
  • Practice sheet for formulae

Module 2: Basic Valuation Techniques: Trading Comparables

  • Sourcing Information
  • Identifying the appropriate peer group
  • Spreading of comps
  • Making necessary adjustment for extraordinary items
  • Arrive at the multiples
  • Build output and interpret the results
  • Self-Practice

Module 3: Company Profiles & Industry Overview

  • Overview and working knowledge of PPT
  • Structuring Short form profiles 1 pager and 2 pagers
  • Structuring Long form profiles
  • Industry Overview of 2 industries

Module 4: Basic Valuation Techniques: Transaction Comparables

  • Sourcing Information
  • Selecting the appropriate deal
  • Understand the strategic rationale
  • Spreading of comps
  • Account for control premiums, synergies
  • Making necessary adjustment for extraordinary items
  • Calculate equity value and enterprise value
  • Arrive at the multiples
  • Build output and interpret the results
  • Self-Practice

Module 5: Advance Valuation Techniques: Financial Modelling

  • Overview & Applications of Financial Modelling
  • Income Statement, Balance Sheet and Cash Flow Statement relationship
  • Structure assumptions and inputs sheet
  • Spread Historical financial statements
  • Build Working capital, depreciation and capital expenditure schedule
  • Business revenue forecasting using KPIs and economic indicators
  • Unlevered vs. levered FCF
  • Capitalizing inappropriately classified expenses
  • Handling stub periods and midyear adjustments
  • Handling working capital items, deferred taxes and long-term accruals
  • Common pitfalls – enterprise vs. equity value, unlevered vs. levered FCF
  • Calculation of Discount Rates
    • Deriving the cost of debt and cost of equity using CAPM
    • Delevering and relvering beta
    • Estimating the weighted average cost of capital (WACC) and determining the optimal WACC
  • FCFF to FCFE
    • Calculating net debt and treatment of debt equivalents such as preferred stock, convertible securities, capital leases and minority interest
    • Calculating options and convertible securities using both the standard and treasury stock methods
  • Arrive at a terminal value/intrinsic share price at the DCF module
    • Perpetuity approach
    • EBITDA multiple approach
    • Common pitfalls
  • Model testing, sensitivity and Scenario Analysis
  • Introduction to deriving qualitative information from DCF model for equity research reports

Module 6: Risk Modelling, Monte Carlo Simulation and ARMA in Excel

  • Introduction Credit Risk, Market Risk, Liquidity risk, Interest Rate Risk
  • BASEL II and III
  • Build a Monte Carlo engine in excel
  • Market Risk calculations
  • Liquidity- LCR calculations
  • Interest rate risk

Module 7: M&A/LBO modelling in Excel


  • Understanding M&A: strategic fit, market environment, etc.
  • Introduction to M&A and typical buy side and sell side processes
  • Extensive accretion-dilution analysis
  • Why acquisition and equity accounting is important
  • Understanding M&A: Financial Modelling Construction and key ratios
  • Sourcing and cleaning historic data
  • Project consolidated financial statements, and learn to make correct adjusting entries for goodwill and fair market value write ups, advisory fees and financing fees and debt refinancing
  • Learn proper treatment of deferred taxes created in M&A and convertible securities and options
  • The role of working capital and extra cap ex requirements
  • Valuations in a merger transaction
  • Sensitivity analysis using data tables to determine accretion/dilution to target shareholders in various stock/cash scenarios
  • Sales, EBITDA, and ownership contribution analysis
  • Calculating pre-tax synergies to break-even
  • Error-check a merger model
  • A review of common deal structures and review of changes in the accounting for business combinations
  • Understand the asset vs. stock purchase decision
  • Address situations in which amortization may be tax-deductible

Leveraged buyouts (LBO)

  • Using typical deal structures and current market metrics
  • Build a dynamic Base/Best/Worst Case scenario toggles
  • Learn to integrate typical LBO debt structures, including secured, unsecured, mezzanine and PIK debt, convertible securities and equity sweeteners
  • Build a revolving credit facility and cash sweep
  • Model LBO Equity Structures
  • Integrate typical equity structure, including management Incentives and rollover, Preferred Stock, contingencies and earn-outs
  • Build a dynamic Sources and Uses of Funds Schedule
  • Modelling Goodwill, and various transactional adjustments
  • Build a returns analysis capturing all providers of capital using XNPV and XIRR functions
  • Error-proofing and integrity-checking an LBO model.
  • Build sensitivity tables required for correct analysis of an LBO, including the construction of multiples, and IRR tables using both data tables and various sorting functions in Excel, including VLOOKUPS, OFFSET, CHOOSE, and INDEX.

Module 8: Statistical modelling and MLR model in Excel

  • Overview of statistical techniques
  • Uses of statistical techniques in finance
  • Model building
  • Sourcing Historical data in Excel
  • Cleaning and sanitizing data
  • Setting up an automated model
  • Developing Simple Linear Regression Model
  • Developing Multiple Linear regression Model
  • Developing Probit and logit Models

Module 9: Portfolio Management/Investment Consulting Module

  • Asset Management, Investment Management, Investment Consulting industry overviews
  • Institutional Investing – Portfolio Management cycle
  • Build an IPS statement and compliance mechanism
  • Asset Allocation Modelling
  • Manager selection inclusive of hiring/firing a fund manager based on correlation analysis
  • Introduction to Portfolio back testing under different economic scenarios
  • Fund Manager due diligence and research
  • Portfolio monitoring
  • Performance Measurement over multi period
  • Performance evaluation both relative and risk adjusted measures
  • Investment Manager appraisal after critical analysis
  • Guidelines for successful portfolio management advisory

Module 10: Revision and Interview preparation

  • Revision about the course
  • Preparing interview questions
  • Overview of interview etiquettes
  • Mock Interviews

Module 11: Pitch books and Project/ Assignment