Indian NBFCs down but not out as Bajaj sells QIP

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By Rashmi Kumar
07 Nov 2019

Bajaj Finance, an Indian non-banking financial company, raised Rp84.6bn ($1.2bn) this week from an equity placement that defied the challenges facing the sector. But bankers warn that the deal’s success does not indicate a change in sentiment towards the woe-ridden industry just yet, writes Rashmi Kumar.

Non-banking financial companies (NBFCs) in India have been going through a rough patch of late. The sector has been roiled by volatility over the past year owing to some high-profile defaults, triggered by the downfall of IL&FS Financial Services at the end of last year.

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