Industrial Capital Structure Board Adviser

The mandate

An industrial holding board is evaluating refinancing alternatives whose apparent benefits depend on different assumptions about asset disposals, operating recovery and shareholder support. Directors need an independent finance perspective on the resulting capital structure, particularly where a proposal shifts risk rather than removes it. The adviser will challenge the alternatives presented, not arrange debt or negotiate with lenders on management's behalf.

The retainer runs for nine months from 26 October 2026 and reserves three days each month, with two scheduled Finance Committee sessions per quarter included. A monthly alternatives review and annotated challenge note are the core outputs. Questions are acknowledged within twenty-four business hours, with substantive written advice within four business days after the necessary financial and transaction evidence is supplied.

The standing question is which financing arrangement remains credible across plausible operating and asset-realisation scenarios. The adviser will examine debt waterfalls, covenant dependencies and security concentration using management's verified records and specialist transaction advice. Where legal enforceability, tax treatment or creditor rights are uncertain, the challenge should identify the required opinion rather than substitute broad finance experience for qualified advice.

This engagement provides no line authority and no executive responsibility. Management owns cash, lender communication and execution; directors determine the capital decisions. No board appointment or underwriting undertaking accompanies the retainer. At the eighth-month review, the committee chair may recommend renewal, but continuation requires board approval and a refreshed scope with a term no longer than twelve months.

Other advisory commitments are acceptable only if monthly capacity and independent judgement remain credible. Existing mandates for a participating lender, an opposing investor or a business bidding for an asset under discussion must be declared. The board may restrict papers, require recusal or end the retainer if the conflict compromises the standing question. Success fees linked to a recommended financing route are incompatible with this engagement.

What you will own

• Challenge the economic logic of each capital structure alternative, tracing which operating recovery, disposal or shareholder contribution assumptions must hold before the proposed funding route can succeed.
• Test debt waterfall comparisons for omitted restrictions and timing dependencies, asking management to reconcile contractual repayment priorities with the liquidity forecast directors are using to evaluate alternatives.
• Shape a committee alternatives matrix that separates genuine deleveraging, maturity relief and risk transfer, preventing unlike proposals from appearing equivalent through a single headline debt reduction figure.
• Probe the credibility of proposed asset-realisation timetables, recommending specialist questions where disposal proceeds depend on legal release, buyer financing or operating conditions outside management's direct control.
• Examine the contingency plan behind each preferred route, pressing directors to identify which choices remain available if negotiations, operating recovery or expected shareholder funding occur later than assumed.
• Recommend clearer recording of committee risk acceptance, preserving unresolved dependencies and dissenting observations so a selected structure is not subsequently described as free of the trade-offs directors considered.
• Review successive financing papers against prior challenge points, highlighting material assumption changes and unanswered questions without directing management's lender negotiations or approving transaction terms.

Candidate qualifications

• Demonstrate senior industrial corporate finance, CFO or restructuring experience with direct involvement in capital structure choices. Explain a refinancing alternative whose headline benefit obscured a material constraint, and show how your analysis changed the board's understanding of operational viability, creditor exposure or the timing of available cash.
• Bring depth in debt waterfalls, security structures, covenant analysis and financial scenario modelling. Relevant experience includes evaluating alternatives under downside operating conditions rather than relying solely on a successful transaction case. Describe how you tested asset-realisation or shareholder support assumptions and identified the specialist advice necessary before directors could make a defensible decision.
• Show independent committee advisory judgement that remains clear under transaction pressure. The role requires concise challenge, transparent limitations and restraint about matters outside financial expertise. Provide an example where you resisted a preferred route, maintained a useful relationship with management and ensured the unresolved trade-off remained visible in the eventual decision record.
• Establish protected monthly availability and freedom from incentives that favour one financing solution. Disclose lender, investor and asset-buyer relationships before access to sensitive papers. Experience should demonstrate practical recusal and information restriction decisions, with the ability to advise directors without taking executive control or implying a guarantee that funding will be secured.

Application

Applications for this mandate are received in one way only: through the India Board Terminal's application process. It is automated end to end. Your Executive Passport travels to the mandate holder in its confidential form, your answers to the three questions below are read before anything else in your file, and every stage that follows is recorded on your applications page.

There is no address to write to and no intermediary to call. The mandate holder reads what the Terminal delivers and nothing else, which is what keeps the process the same for every applicant and keeps your name out of it until you release it. Applications close on 15 October 2026. Mandate reference CVU-ADV-2026-IND-192.