If you are issuing new shares — yes, in almost every case.
Under the Companies Act, a preferential allotment or private placement requires a Registered Valuer's report justifying the issue price. If any investor is a non-resident, FEMA additionally sets a pricing floor: shares cannot be issued to a foreign investor below fair value certified under an internationally accepted methodology.
Convertible instruments (CCPS, CCDs) need valuation support too, and SAFEs/convertible notes raise their own structuring questions in India. The reports must be dated close to the allotment and consistent with each other — mismatched numbers across documents are a classic diligence red flag.
Build the valuation into your fundraise timeline from day one; it is never the step to leave for the week of closing.