CARE Ratings Q4 & FY25 Update: Strong Performance Driven by Ratings and Diversification Gains
​CARE Ratings achieves record income and profitability in FY25, driven by quality-led growth strategy and strategic investments, positioning...
406 Views
Belrise Industries Pre-IPO - Expansion Plans and Related Party Risks
Belrise Industries Limited is looking to raise about US$255m in its upcoming India IPO. In this note, we talk about the company’s historical...
923 Views
The Beat Ideas: CARE Ratings- India’s Only Homegrown CRA Reclaims Its Edge
​CARE Ratings has strengthened with governance reforms and ESG focus, well-positioned to benefit from India's credit market upcycle and tightening...
624 Views
IGI (India) IPO - Unique Exposure but Questionable Acquisition, and 4x Returns for PE in 18 Months
International Gemmological Institute (India) Limited (IGII) is looking to raise about US$500m in its upcoming India IPO. In this note, we look at...
737 Views
Altico: One More Fiasco of the Rating Agencies and Marquee Investors
The default by the unlisted Altico Capital India (erstwhile Clearwater Capital Partners India Private Limited), a “Systemically Important Non-Bank...
596 Views