We advise companies and financial institutions on raising the right capital — from senior debt and structured facilities to securitization and equity placement. Independent counsel, sharp execution, and relationships that outlast the transaction.
Array of relationships across banks, nbfcs & alternate funds (private credit, venture debt etc). Allowing us tailor and match each mandate to the suitable lenders basis all factors. Ensuring the best possible terms.
End-to-end arrangement of term loans, project finance, and working capital — fund-based and non-fund-based. We size the facility, position the credit, and run a disciplined lender process to close on the right terms.
Securitization, direct assignment, and supply-chain and co-lending structures for lending businesses and receivables-backed pools — designed to release capital and broaden funding sources without diluting control.
Multi-stage equity fundraising and advisory — from early growth rounds to late-stage placement. We shape the narrative, identify aligned investors, and guide founders through diligence to a well-structured close.
Since 2006 our team has advised listed and privately held companies and financial institutions on raising both debt and equity — through varied market conditions and across a broad set of industries.
We advise listed and unlisted clients across traditional industry, lending and financial institutions, infrastructure-linked sectors, and emerging digital categories.
Every engagement is different, but the method is consistent: understand the business, position it well, and manage the process to a clean outcome.
We begin with the business — its cash flows, capital needs, and constraints — to define the right amount, instrument, and timing before approaching the market.
We design your capital structure and build the compelling, documented case lenders and investors need to say yes—seamlessly coordinating all essential Title, Valuation, and TEV appraisals along the way.
We match the mandate to the right counterparties across our network of banks, NBFCs, and funds, then run a competitive, confidential process to secure favourable terms.
We manage term-sheet negotiation, legal assessment, and end-to-end documentation through to disbursement — and stay available for post-transaction advisory well after the deal is done.
Indus Equity Advisors is a specialist consultancy in debt syndication, structured finance, securitization, and equity capital raising. Over nearly two decades our team has helped publicly listed companies and marquee privately held businesses secure both debt and equity funding.
We are deliberately independent and relationship-led. That means honest counsel on what a business actually needs, access to a wide set of lenders and investors, and a commitment to seeing every mandate through with care, confidentiality, and precision.
At Indus our mission is to empower businesses by providing access to capital that fuels growth and success. With a deep understanding of the complex financial landscape, we take pride in fostering long-term relationships with our clients, understanding their unique needs, and providing tailored solutions that exceed their expectations.
Our unwavering dedication to ethical business practices, transparency, and client satisfaction has earned us a reputation as a trusted partner in the financial services industry. As we continue to navigate the ever-evolving financial landscape, we remain steadfast in our pursuit of delivering exceptional results and creating sustainable value for all our stakeholders — a commitment that has become a hallmark of our organisation.
An unwavering commitment to confidentiality and to acting in the client's interest.
Clear, accountable advice at every step — no surprises, no hidden agendas.
A steadfast dedication to seeing each mandate through to the right outcome.
We value enduring partnerships over one-off transactions, and mutual growth.
Our leadership is supported by a research and operations team averaging 8+ years of experience, with deep coverage of India's banking and financial sector.
Over 37 years across India's capital markets, spanning debt syndication, equity advisory, investment banking, and stock broking. A trusted advisor to organisations in both debt and equity markets. B.Com (Hons.), NM College of Commerce & Economics, Mumbai.
Sushil C. Choksey is the visionary Founder and Managing Director of Indus Equity Advisors, bringing over 37 years of unparalleled experience in India's capital markets. A distinguished finance professional, Sushil's expertise spans Debt Syndication, Equity Advisory, Investment Banking, and Stock Broking.
Throughout his career, Sushil has earned the trust of numerous organizations, both in debt and equity markets, becoming a sought-after advisor and respected public markets veteran. His deep insights and strategic guidance have consistently delivered exceptional value to his clients.
Sushil holds a Bachelor's degree in Commerce (Honors) from NM College of Commerce & Economics, Mumbai, which has provided a strong academic foundation for his accomplished career in finance.
14+ years in banking and financial services, with a decade at Indus on complex debt syndication and securitization mandates. Formerly at Central Bank of India and Edelweiss Financial Services. CFA, FRM, and MMS (Welingkar Institute).
Sukumar Kelkar is a seasoned banking professional with over 14 years of experience in the Banking and Financial Services sector. His expertise lies in delivering tailored financial solutions across various industries, earning a strong reputation for his reliability and insight. For the past decade, Sukumar has been an integral part of Indus Equity, working alongside founder Sushil Choksey on a range of complex debt syndication and securitization deals across multiple sectors.
Sukumar began his career at Central Bank of India, managing large corporate credit portfolios across diverse industries. He later joined Edelweiss Financial Services, specializing in structured finance with a focus on promoter funding and real estate.
A Chartered Financial Analyst (CFA) and a Certified Financial Risk Manager (FRM), Sukumar also holds an MMS degree from Welingkar Institute.
9+ years in capital markets with a focus on banking and NBFC research and corporate debt solutions. Previously covered BFSI on the institutional equities desk at Antique Stock Broking. Chartered Accountant and graduate of R. A. Podar College.
Amit has over 9 years of experience in capital markets, specializing in equity analysis for the Banking and NBFC sectors. He assists companies with corporate debt solutions, leveraging his expertise to provide strategic financial guidance. His strong analytical skills and in-depth understanding of financial dynamics enable him to deliver impactful insights and solutions.
In his current role, Amit focuses on research and debt solutions, developing in-depth company-specific, sectoral reports and analysing financial trends. He collaborates closely with key stakeholders and executive management to structure transactions, ensuring optimal outcomes for all parties involved.
Previously, he was part of the Institutional Equities Team at Antique Stock Broking, where he covered the BFSI sectors. He is a graduate of R. A. Podar College Of Commerce & Economics and a Chartered Accountant.
6+ years across venture capital, banking, and financial services. Formerly an associate at venture fund 1Crowd and at HDFC Bank. Chartered Accountant with a Master's in Commerce (Accounting & Finance), H.R. College of Commerce & Economics.
Sumere is a versatile finance professional with over six years of experience across Venture Capital, Banking, and Financial Services. Before joining Indus Equity, he was an Associate at a venture capital fund – 1Crowd, where he played a key role in identifying and nurturing promising investments. His time at HDFC Bank further sharpened his expertise in the banking sector.
A Chartered Accountant from The Institute of Chartered Accountants of India, Sumere also holds a Master's degree in Commerce with a focus on Accounting & Finance from H.R. College of Commerce & Economics. His strong analytical skills and strategic insight make him a valuable asset to our team.
5+ years across management consulting and strategy, including three years at Bain & Company advising fintech, industrial, e-commerce, and retail clients. Master's in Management, Bayes (Cass) Business School, London.
Hriday Choksey brings over 5 years of diverse experience across management consulting and strategic leadership roles. He spent 3 years at Bain & Company as a consultant, where he advised clients across sectors including fintech, industrial goods, VC-as-a-service, alcobev, e-commerce, retail, and fashion. His strategic insights helped businesses scale and optimize their operations in dynamic markets.
Prior to Bain, Hriday led Key Account Management and Strategy for 18 months at Kissht, where he drove key partnerships and growth initiatives.
Hriday holds a Master's in Management from Cass Business School, London, and an undergraduate degree in Banking and Insurance. His cross-sector expertise and strategic acumen make him a valuable asset to Indus Equity.
Equity Research Analyst with a strong foundation in equity research and capital markets. Her experience spans company research, industry analysis, valuation, and investment idea generation — combining analytical thinking with a detail-oriented approach to deliver comprehensive research and actionable insights for investors and financial institutions.
Aashka Trivedi is an Equity Research Analyst with over 5+ years of experience in investment research, financial analysis, and capital markets. Throughout her career, she has worked extensively on industry research, investment analysis, IPO evaluations, and identifying long-term investment opportunities across listed and unlisted companies.
She currently works across Investment Banking and Equity Research, combining her understanding of capital markets, business fundamentals, and financial analysis to support corporate finance transactions and investment decision-making across sectors. Her analytical approach, attention to detail, and commitment to continuous learning enable her to deliver well-researched insights that support sound investment decisions.
A four-person research and operations team complements our leadership across every mandate, bringing diverse sector expertise and an average of 8+ years of experience — from company and sector research through to transaction execution.
Explore our interactive banking dashboards, or download sector data and thematic reports — the same research discipline we bring to every mandate.
A connected set of interactive dashboards — quarter-on-quarter financials, asset quality, profitability, and balance-sheet metrics across public sector, private, and small finance banks, plus a full comparative view.
Reports across Banking and NBFC & HFC sector, Sectoral Credit, Lending Rates, Card Statistics, and Comparative Analysis.
Cross-sector benchmarks and quarterly earning updates.
Browse ResultsCompany result snapshots across NBFCs and housing finance.
Browse DataWhere bank credit is being deployed, by sector.
Browse RatesLatest lending and deposit rate movements, monthly.
Browse DataBank-wise card issuance, spends and QR-code data.
Browse DataHow bank credit and deposits are distributed.
BrowseWe work with listed and unlisted companies and shape each engagement around the transaction type, complexity, and facility required.
We are a focused capital advisory firm specialising in debt syndication, structured finance, securitization, and equity capital raising. We work closely with clients to understand their needs and guide them through debt or equity fundraises — prioritising the relationship over the transaction, from the first conversation to post-transaction advisory.
We facilitate transactions across the full range of debt products — fund-based and non-fund-based — including term loans, working capital, cash-credit facilities, bank guarantees, and letters of credit, as well as instruments such as debentures, securitization, and structured facilities, alongside equity placement.
End-to-end support at every step — from structuring and lender or investor outreach through negotiation and closing. Along the way we coordinate the essential appraisals lenders rely on — Title Search, Valuation, and Techno-Economic Viability (TEV) reports — and handle the legal assessment and documentation through to disbursement. We also remain available for advisory well after the transaction completes.
We have no minimum transaction size, and we are glad to advise both listed and unlisted companies and institutions.
It depends on the nature of the facility. A transaction can take as little as 14 working days, or up to around three months for more complex structures.
Fees depend entirely on the nature of the transaction, the service, and the type of facility, and are agreed on a case-by-case basis.
Yes. We are sector-agnostic and have advised a diverse range of clients across many industries and regions throughout the country.
