Shivangi Khandelwal

Manager @HBK CPAs & Consultants

New Delhi, DL, IN
MOBILE NUMBERS
+91 *********19

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WORK HISTORY

Oct 2025 — Present

Manager @HBK CPAs & Consultants

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Gurugram, IN

First India-based member of HBK\'s Transaction Advisory Services team, building the India delivery function for US and cross-border M&A engagements.• Quality of earnings, buy-side and sell-side FDD, net working capital and net debt analysis, carve-out support, and working capital peg setting for US lower middle market transactions• Serve PE firms, fundless sponsors, strategic acquirers, and M&A intermediaries across all sectors• Drive business development and referral relationships with US-based partners, M&A attorneys, and investment bankers• Full deal lifecycle support — from initial scoping through final report delivery

EDUCATION

2009 — 2014

The Institute of Chartered Accountants of India

Chartered Accountant, Accounting and Finance

2005 — 2009

Virendra Swarup Education Centre, Kidwai Nagar

12th, Commerce and Maths

ABOUT SHIVANGI KHANDELWAL

I lead Transaction Advisory Services for HBK CPAs & Consultants out of Gurugram, India — supporting US lower middle market M&A transactions as the firm\'s first India-based TAS professional. With over a decade of financial due diligence experience across KPMG, CohnReznick, and Deloitte, I bring Big-4-caliber quality of earnings, buy-side and sell-side FDD, net working capital analysis, net debt analysis, carve-out support, and working capital peg setting — to PE firms, fundless sponsors, and strategic acquirers operating in the $5M–$50M deal range. What sets our practice apart is straightforward: the same diligence rigor US buyers expect, delivered with faster turnaround and a more competitive fee structure — enabled by our India delivery model and US oversight through HBK\'s partner network. If you are a PE firm, search fund operator, M&A attorney, or investment banker working on a lower middle market deal and need a diligence partner — I would welcome a conversation. Reach me at s••••••••@hbkcpa.com or connect directly here.

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Shivangi Khandelwal — Manager at HBK CPAs & Consultants in New Delhi, DL, IN | Unifers