To stimulate a vibrant debt market, a balanced approach is necessary to ensure that investors and issuers are not deprived of the NCD route as a viable means of financing.
Alternative modes of financing are imperative for businesses to thrive. In this context, non-convertible debentures (NCDs) have become an accepted route for raising financing by Indian corporates, especially in situations where funding from banks and non-banking finance companies is unavailable. In fact, CRISIL expects that the supply of corporate bonds in the domestic market could double to ₹65 lakh crore-₹70 lakh crore by fiscal 2025.
Please click here to read the full article by Aashit Shah and Utsav Johri published in Fortune India.
Utsav is a Partner specializing in Debt Finance. His practice focuses on private credit, structured finance, and leveraged finance, particularly in complex cross-border transactions. He advises international and domestic funds and financial institutions on high-value financing structures, aiming to deliver practical solutions that bridge global capital with Indian opportunities.