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.
Aashit chairs the Finance Practice at JSA. He specialises in banking & finance, debt restructuring and insolvency, mergers & acquisitions, private equity and investment funds.