Utkarsh Small Finance Bank’s IPO: what it means and why it matters

By Nathan Menon and Priyanka Rajaram on 8 August 2023 Posted in India

The Bank – who they are Initially operating from the small town of Varanasi in Uttar Pradesh, India, Utkarsh was established in 2009 as a Micro Finance Institution. Over the years it has evolved into a Small Finance Bank with the objective of creating “umeed” (hope) amongst the unbanked population by providing micro, small and … Continue Reading

India’s sovereign credit rating – stick or twist?

By Nathan Menon and Mira Midelieva on 13 August 2020 Posted in India, Rating Agencies

Read time: 3 minutes 15 seconds In June 2020, three of the large global rating agencies – Moody’s Investors Service (“Moody’s”), Fitch Ratings (“Fitch”) and S&P Global Ratings (“S&P”) reviewed India’s sovereign credit rating. Interestingly, the agencies diverged in their approaches – Moody’s, which had previously rated India a notch higher than S&P and Fitch, … Continue Reading

Indian Bond Defaults and Bond Restructurings: More Scheming Ahead?

By Ranajoy Basu on 31 January 2014 Posted in Capital Markets, Defaults and Restructurings

With yet another foreign convertible bond default hitting our desk, we cannot help but wonder what the future has in store for Asian convertible bonds and debt capital markets restructurings. This is particularly relevant when you consider that Indian companies and banks issued foreign currency bonds aggregating up to approximately $6.3 billion in the first quarter … Continue Reading