Insights
Practical notes on debt strategy.
What we've learned working with promoters and CFOs on capital structure, lender selection, and everything in between. No jargon dressed as insight.
Debt Advisory & Syndication Firms in India: Who Does What
An honest map of the category — Resurgent India, PINC, Terkar Capital, InCorp, Intensive Fiscal and others, segmented by ticket size and deal type. We list ourselves too, with the caveat that we're the newest firm on the page.
Read →Working Capital Financing in India: A Practical Guide
Cash credit, WCDL, invoice discounting, factoring, PCFC — the working capital toolkit is bigger than most CFOs use. A plain-English guide to what fits when, and where most mid-market companies leak 50–150 bps unnecessarily.
Read →Personal Guarantees in Business Loans: What You're Actually Signing
The most common — and least understood — clause in Indian business lending. What a PG actually commits you to under Indian law, and what you can (really) negotiate before you sign.
Read →Debt Broker vs Debt Advisor: The Difference That Actually Matters
A broker gets paid to place a deal. An advisor gets paid to help you decide whether to raise, what to raise, and how. Most Indian mid-market companies get sold a broker and end up needing an advisor. Here's how to tell them apart.
Read →How to Raise Unsecured Debt for a Growing Indian Business: A Practical Guide
A step-by-step walkthrough of the unsecured debt market in India — who lends, how they price it, what documents they'll ask for, and how long it takes. Written for founders and CFOs who haven't done this before.
Read →NBFC vs Bank: Where to Actually Take Your Next Debt Raise
Banks are cheaper. NBFCs are faster. But cheaper and faster aren't the whole story — and picking the wrong lender pool for your situation can cost more than either premium.
Read →The Real Cost of Delaying a Debt Raise
Most Indian mid-market companies start their debt raises 8 weeks too late. The cost of that delay never shows up in the interest line — but it shows up in the growth you didn't fund and the leverage you gave away.
Read →How AIF Debt Funds Are Reshaping Indian Mid-Market Credit
A decade ago, mid-market debt in India meant a bank or an NBFC. Today, AIF Category II debt funds have quietly become one of the largest sources of private credit in the country.
Read →NCDs, Term Loans, and Mezzanine: Choosing the Right Instrument
Every debt instrument has a shape — a tenor, a cost, a security profile, a personality. Picking the wrong one wastes months and money. A plain-English guide to when each one fits.
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