In the absence of banks, which focus on loans of Rs 15-20 lakh, NBFCs are finding growth opportunities in the high yielding micro-LAP (loan-against property), which are sub-Rs 10 lakh loans. Industry executives said that there are growth opportunities given that the MSME sector remains starved for credit.

Data published by the Reserve Bank of India (RBI) Wednesday showed that external commercial borrowing (ECB) registrations by companies, including non-banking finance companies, stood at more than $11 billion in March. This took the total number to $61 billion for FY25, compared with $49 billion a year ago.

Jio Credit, a subsidiary of Jio Financial Services, has successfully raised ₹1,000 crore through its inaugural bond issuance to domestic investors. The bonds, with a tenor of two years and ten months, carry a coupon rate of 7.19%. The issue witnessed strong demand, being oversubscribed by three times, highlighting investor confidence.

Alternative finances and digital lending are gaining pace for credits to the Micro, Small and Medium Enterprise (MSME) sector, shows data from a survey by the Small Industries Development Bank of India (SIDBI).

Shapoorji Pallonji Group, an Indian conglomerate, is poised to finalize a $3.4 billion debt agreement, potentially India's largest private credit deal. Major investors like Ares Management and Cerberus Capital are participating, with Deutsche Bank arranging the zero-coupon rupee bond yielding 19.75%. This deal highlights the growth of India's private credit sector, fueled by infrastructure development under Prime Minister Modi.

Greaves Electric Mobility has received Sebi approval for its IPO, comprising a ₹1,000 crore fresh issue and an OFS of 18.9 crore shares. Proceeds will fund tech development, battery assembly, manufacturing expansion, acquisitions, and digitization efforts.

With one of the youngest entrepreneur bases in Asia-Pacific, India’s SME sector is well-positioned to drive sustained growth and innovation, says the 2025 edition of the Asia-Pacific Small Business Survey.

Despite the near-term challenges, banks and analysts anticipate that the stress in the microfinance segment will gradually subside, with a clearer recovery trend emerging in the latter half of FY26.

Motilal Oswal and Raamdeo Agrawal invested $100 million in Zepto through a secondary transaction, valuing the company at $5 billion. This move increases Zepto's domestic shareholding to over 35% as it prepares for an IPO. The founders' investment is part of a larger $350 million secondary share sale, attracting interest from other investors like Edelweiss and Hero Fincorp.

BluPine Energy secured Rs 376 crore in debt funding from Standard Chartered for its 100 MW solar power project in Gujarat. The project, undertaken by Solarcraft Power India 5, is expected to be commissioned in the first half of 2026. This initiative will significantly contribute to Gujarat's renewable energy goals and India's energy transition.

The 10.55 crore fully paid-up equity shares have been issued at a price of Rs 33 per share (including a premium of Rs 23 per share) aggregating to Rs 348.15 crore, it said.

Sundaram Home Finance aims to raise over Rs 6,000 crore in FY26 through various financial instruments. The company reported a 26% increase in net profit for the quarter ending March 31, 2025, and a 29% rise in disbursements for the full year. SHF is focusing on expanding into tier 2 and 3 towns to capitalize on growth opportunities.

Rakuten currently employs 4,000 people in India - 90% of whom are tech staff - and plans to recruit people who it considers "power users" of AI.

Travel Food Services, operating QSRs and lounges across Indian and Malaysian airports, has received SEBI's approval for a Rs 2,000-crore IPO. The IPO is entirely an offer-for-sale by the Kapur Family Trust. The company, with a diverse F&B portfolio, reported a revenue of Rs 409.86 crore and a profit of Rs 59.55 crore for the quarter ended June 30, 2024.

Canara HSBC Life Insurance has filed its DRHP with SEBI for an IPO comprising 23.75 crore equity shares via offer for sale. Promoted by Canara Bank and HSBC, the insurer ranks high among public-sector-led peers in assets and lives covered.

The funds will support new models and increased capacity.

InCred Financial Services, an Indian lending firm, is preparing for an initial public offering. The company aims to raise approximately 40 billion rupees. Discussions are underway with advisers like IIFL Securities and Kotak Mahindra Bank. The IPO could happen by October in Mumbai. The firm is seeking a valuation of at least 150 billion rupees. KKR & Co.

Urban Company, backed by Accel, is set to file its DRHP for a Rs 2,000-crore IPO, comprising a fresh issue of Rs 500 crore and a Rs 1,500 crore secondary share sale. Founders won't participate in the offer for sale portion of the IPO. The company, which has seen pre-IPO secondary rounds at a $1.8 billion.

Indian non-banking finance company Shriram Finance is mulling raising funds denominated in Japanese yen to diversify its borrowing profile, with talks still in preliminary stages, its CEO said on Monday.

Zepto founders Aadit Palicha and Kaivalya Vohra are raising about Rs 1,500 crore through structured debt to boost Indian ownership ahead of the company’s planned IPO, people familiar with the matter told us. Edelweiss Alternative Asset is anchoring the deal alongside domestic family offices and smaller credit funds. The loan carries a minimum interest rate of 16%, with an equity-linked upside pushing total returns closer to 18%.