Insights & Research
Expert perspectives on structured credit, bridge financing, and strategic capital allocation for high-growth enterprises in India.
Reliance Has ₹2.46 Lakh Crore in Cash. So Why Is It Borrowing ₹12,500 Crore?
Reliance has more than Rs 2 lakh crore in cash yet is raising a Rs 12,500 crore bond at 7.47%. Why a financially strong company borrows on price, not need.
Lickicious Raised ₹19 Crore. The Smart Part Is How It Split Equity and Debt
Lickicious, a 2024 pet-food brand, raised ₹19 crore as a blend of equity and institutional debt. Here is why the business matched different capital instruments to different needs.
Bridge Financing vs Venture Debt vs a Bank Overdraft: Which Fits a Working-Capital Gap?
Bridge financing, venture debt, or a bank overdraft for a working-capital gap? A clear comparison of speed, cost, dilution and collateral, and which fits when.
Jio Has a ₹76,255 Cr EBITDA Business. So Why Is It Paying Down ₹27,500 Cr of Debt?
Jio Platforms makes Rs 76,255 Cr EBITDA yet uses Rs 27,500 Cr of its IPO to repay debt. Why even a profitable cash machine deleverages before it goes public.
Navi Took Its First Outside Capital Before an IPO. Why Sachin Bansal Waited
Sachin Bansal self-funded Navi for seven years, then took a proposed $100M from Prosus before its IPO. Why a lender is the one business that needs equity.
India Private Credit Hit $3.5B in H1 2026: Founder Guide
India's private credit market recorded $3.5 billion in the first half of 2026, per EY, with domestic funds at 74%. What the shift to mid-market lending means for founders.
Zepto's IPO Delay and the Real Cost of Timing Capital
Zepto paused its IPO rather than list at a lower valuation, then its founders raised Rs 1,500 crore of structured debt at 16%. Why timing is a financing call.
Why Yulu Used Debt to Build 150,000 More EVs
Yulu raised $93M. Thirty million of it was debt, because you cannot buy 150,000 electric vehicles by selling shares. How to match instrument to asset.
How Zerodha Grew Without VC Funding: A Capital Strategy Breakdown
How Zerodha grew to a Rs 4,237 Cr net profit with zero venture capital and zero debt. A sourced breakdown of the capital strategy, and where it stops working.
Nykaa's Funding History Before IPO: How It Reached $1 Billion on Under $200 Million
Nykaa raised about $112M before its IPO, and only 11.8% of the Rs 5,350 Cr issue was fresh capital. A sourced breakdown of the funding history and what it cost.
How Can an Indian Startup Raise ₹10 Cr to ₹100 Cr Without Giving Away Equity?
How Indian startups raise Rs 10 Cr to Rs 100 Cr without giving away equity. Structured credit, venture debt, TReDS and what each actually costs in dilution.
The $2 Billion Loan Ritesh Agarwal Took to Buy Back OYO
To buy back a piece of OYO, Ritesh Agarwal pledged the only piece he still owned. The $2B loan, the 73% markdown, and what equity really costs a founder.
Structured Credit vs Traditional Bank Loans: What Indian Growth Companies Need to Know
Banks were built for a different era. Structured credit was built for yours. Here's the full breakdown — underwriting, speed, documentation, and which one actually fits a high-growth Indian business.
How Private Debt Funds Work in India — And Why They're Faster Than Your Bank
Private debt funds in India are deploying institutional capital to growth companies in 72 hours. Here's how they're structured, how they underwrite, and why they're built for businesses that banks won't touch.
What Is Venture Debt and Why Does It Matter for Pre-Series B Companies in India?
Venture debt gives Indian founders ₹50L–₹100Cr without equity dilution. Here's exactly how structured credit works, who qualifies, and why waiting for a bank is costing you the window.
Venture Debt vs Equity Dilution: What Founders in India Need to Know Before Their Next Round
Every equity round is a permanent decision. Venture debt lets you fund growth without giving up ownership. Here's the real comparison — numbers, mechanics, and when each makes sense.