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ASCENTPINNACLE

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₹7,500 Cr+ advised across 8 sectors, pan-India. Described generically where confidentiality applies.

₹1,805 Cr

Structured Credit

₹5,100 Cr

Special Situations

₹605 Cr

Debt & Capital Advisory

₹68 Cr

Strategic Transactions

All mandates

  • Special Situations

    Integrated steel and power producer

    ₹2,550 Cr

    Special situations financing

    Structured against operating assets in a contested creditor environment, with security and enforcement rights defined before terms were issued.

    Steel & metals

  • Special Situations

    Healthcare and financial services holding company

    ₹1,900 Cr

    Special situations financing

    Holding-company facility structured against pledged operating subsidiaries, sized to a defined promoter resolution.

    Financial services

  • Structured Credit

    Listed non-banking financial company

    ₹500 Cr

    Non-convertible debenture issue

    Primary issue placed privately with pension funds and long-only institutional investors.

    Financial services

  • Structured Credit

    Listed infrastructure group

    ₹350 Cr

    Holding company funding

    Holdco facility against pledged listed securities, structured around a defined deleveraging path.

    Infrastructure

  • Structured Credit

    Listed non-banking financial company

    ₹300 Cr

    Non-convertible debenture issue

    Repeat primary issue for the same borrower, placed into a tightening rate environment.

    Financial services

  • Structured Credit

    Housing finance company

    ₹275 Cr

    Non-convertible debentures

    Debenture placement against a granular retail mortgage pool.

    Financial services

  • Special Situations

    Listed telecom infrastructure company

    ₹270 Cr

    Corporate debt restructuring

    Multi-lender restructuring negotiated across a consortium with divergent security positions.

    Telecom

  • Structured Credit

    Listed non-banking financial company

    ₹265 Cr

    Non-convertible debenture issue

    Third consecutive primary issue for the same borrower.

    Financial services

  • Special Situations

    Foreign bank, India book

    ₹180 Cr

    Stressed asset downselling

    Assisted exit from a non-convertible debenture exposure through a structured downsell of the stressed position.

    Financial services

  • Debt & Capital Advisory

    Private medical college

    ₹165 Cr

    Restructuring advisory

    Debt reorganised around fee-cycle cash flows and campus security, restoring the institution's ability to operate.

    Healthcare & education

  • Debt & Capital Advisory

    Small finance bank

    ₹160 Cr

    Short-term debt syndication

    Short-dated facility syndicated to institutional lenders across two consecutive raises.

    Financial services

  • Debt & Capital Advisory

    Integrated steel producer

    ₹150 Cr

    Working capital facilities

    Two facilities renewed with a public sector lender against receivables and finished-goods inventory.

    Steel & metals

  • Structured Credit

    Integrated steel producer

    ₹100 Cr

    Private placement

    Placement into a capital programme, structured against project assets under construction.

    Steel & metals

  • Special Situations

    Residential real estate developer

    ₹100 Cr

    Post-settlement funding

    Capital deployed through an alternative investment fund immediately after a one-time settlement with the incumbent lender, releasing the project to complete.

    Real estate

  • Special Situations

    Real estate and construction group

    ₹100 Cr

    Special situations funding

    Two tranches into a ring-fenced project SPV ahead of a scheduled lender exit, with trapping events drawn to protect project working capital.

    Real estate

  • Debt & Capital Advisory

    Branded apparel retailer

    ₹80 Cr

    Debt funding

    Facility structured around inventory and a franchised store network with seasonal working capital swings.

    Retail

  • Debt & Capital Advisory

    Consumer electronics manufacturer

    ₹50 Cr

    Limit reinstatement advisory

    Advisory on reinstatement of a working capital limit with the incumbent lender, with the case rebuilt around the operating cycle and the current security position.

    Consumer electronics

  • Strategic Transactions

    Australian financial services group

    ₹43 Cr

    Acquisition advisory

    Buy-side advisory on the acquisition of an Indian non-banking financial company, including diligence and regulatory pathway.

    Financial services

  • Strategic Transactions

    Listed steel products manufacturer

    ₹25 Cr

    Equity placement

    Primary equity placed with institutional investors to fund a capacity expansion.

    Steel & metals

  • Structured Credit

    Private professional education institution

    ₹15 Cr

    Term loan and capex financing

    Term facility arranged against campus assets, taking the borrower out of a stressed position and funding completion of the build.

    Healthcare & education

Transactions are described generically where confidentiality obligations apply. Values in Indian rupees; US dollar mandates converted at ₹85 to the dollar. Credentials available to qualified counterparties under NDA.

Case studies

Where the structure, rather than the capital, decided the outcome.

Special Situations

Post-settlement capital into a stalled residential project

The situation

A residential developer had reached a one-time settlement with its incumbent lender but had no capital to complete construction. Towers were topped out and sold down; the remainder had not started. The settlement had a date, and missing it would have reopened the entire exposure.

The complexity

The security was already charged to the settling lender until the settlement completed, so the incoming capital had to be committed against a release that had not yet happened. The developer's other projects could not be brought into the security package without exposing the whole balance sheet to a single construction programme.

The structure

Capital was deployed through an alternative investment fund into a ring-fenced special purpose vehicle holding the remaining towers and the buyer receivable book against them. Disbursal was set against certified construction milestones rather than released in a lump sum. The release mechanics with the settling lender were documented before the term sheet was signed, which is the stage at which facilities of this shape usually fail.

The outcome

The settlement completed on its date, construction restarted, and the incoming lender's exposure was confined to one certified programme rather than to the developer's balance sheet.

Special Situations

Corporate debt restructuring across a divided consortium

The situation

A listed telecom infrastructure company entered restructuring with a lender consortium holding materially different security positions. Some lenders were secured on receivables, others on fixed assets, and several held no specific charge at all.

The complexity

A restructuring requires the consortium to agree, and this one had no natural majority. Lenders with weaker security had the least to lose from enforcement and the most to gain from holding out, which is the position that stalls most Indian restructurings.

The structure

The proposal was built around a waterfall that paid differentiated recoveries by security position rather than pro rata, so holding out no longer improved any single lender's outcome. Enforcement rights and standstill terms were settled in the intercreditor agreement before commercial terms were circulated.

The outcome

The consortium reached agreement and the restructuring was implemented across the full lender group.

Special Situations

Exit from a stressed debenture exposure

The situation

A foreign bank needed to exit a non-convertible debenture exposure on its India book. The underlying credit had deteriorated and the position was no longer one the bank could hold to maturity.

The complexity

A stressed position sold into a thin market prices off the most reluctant buyer, and a wide circulation would have signalled distress to the borrower's other lenders. The universe of buyers able to hold a stressed debenture of this size was small.

The structure

The exposure was downsold through a controlled process to a limited approach set selected on holding capacity rather than reach, with diligence material prepared to answer the recovery question directly rather than to market the credit.

The outcome

The bank exited the position and removed the exposure from its India book.

Debt & Capital Advisory

Restructuring an institution against its fee cycle

The situation

A private medical college was in default with its lenders. The institution was operating and enrolled, but its debt had been sized against a construction timeline it had not met, with repayments falling due before the fee cycle generated the cash to meet them.

The complexity

The asset could not be enforced in any practical sense. A campus with enrolled students has limited alternative use, and the lenders' recovery in an enforcement scenario was materially worse than in a restructuring, but no lender wanted to be first to say so.

The structure

The debt was reorganised around the institution's actual fee-collection cycle, with repayments dated to follow admission cycles rather than calendar quarters, secured on campus assets and escrowed fee receipts.

The outcome

The institution returned to serviceable debt and continued operating without interruption to enrolment.

Sector coverage

  • Financial services₹3,623 Cr
  • Steel & metals₹2,825 Cr
  • Infrastructure₹350 Cr
  • Telecom₹270 Cr
  • Real estate₹200 Cr
  • Healthcare & education₹180 Cr
  • Retail₹80 Cr
  • Consumer electronics₹50 Cr
See what is currently in market

Discuss a mandate

Send the position, the existing debt schedule and the timeline. We come back with a view on whether it is structurable and what it would take.

Enquiries are treated as confidential and are not shared outside the firm.

Offices

  • Gurugram

    Ground Floor, 76D Udyog ViharPhase 4, Sector 18Gurugram 122001

  • Noida

    19th Floor, Berger OneSector 16BNoida

  • Mumbai

    C-20, G Block RoadBandra Kurla Complex, Bandra EastMumbai 400051

  • Singapore

    101 Cecil Street, #23-05Tong Eng BuildingSingapore 069533
info@ascentpinnacle.com