Capital solutions, structured around your business.

Capital should fit the business, not the other way around.

Bspoke Capital is a boutique debt and capital advisory firm for complex financing requirements. We work alongside promoters and management teams to understand the underlying requirement, develop the financing strategy, structure the transaction, prepare the credit proposition and coordinate with lenders and investors through execution.

Our core capabilities.

From conventional term debt and working capital to structured finance, promoter financing, HoldCo/SPV financing and special situations, we focus on finding the right structure for the requirement — not forcing the requirement into a standard product.

  • Advisory and arrangement of debt financing across banks, NBFCs and institutional lenders.

    • Term loans
    • Working capital
    • Refinance
    • Debt syndication
    • Takeout financing
    • Acquisition-related debt
    • Corporate refinancing

  • Where conventional debt structures cannot carry the requirement, we evaluate alternative and hybrid instruments designed around the specific credit and commercial circumstances of the transaction.

    • NCDs
    • OCDs
    • Convertible instruments
    • Mezzanine-style financing
    • Equity-linked structures
    • Equity kickers
    • Quasi-debt
    • Structured investments

  • Solutions designed around the operating cash-flow requirement and the working-capital cycle of the business, including receivables- and inventory-backed structures.

    • Supply-chain financing
    • Unsecured working capital
    • Structured working capital
    • Receivables-backed solutions
    • Inventory and business-cycle financing

  • Financing solutions for promoters and holding companies secured against listed and unlisted securities or other eligible assets, including structures at the HoldCo and SPV level.

    • Promoter financing
    • HoldCo financing
    • SPV financing
    • Loan against securities
    • Share-backed financing
    • Strategic promoter requirements

  • We work on financing requirements where conventional credit channels may be constrained by legacy liabilities, stressed cash flows, restructuring situations or other transaction-specific complexity.

    • OTS financing
    • ARC-led takeouts
    • Distressed asset financing
    • Debt restructuring
    • Takeover of existing debt
    • Special situation capital
    • Bridge financing

  • We translate financing requirements into institutionally credible credit propositions, supported by rigorous financial analysis, modelling, transaction documentation and risk-mitigation frameworks.

    • Financial modelling
    • Financial projections
    • Information memorandums
    • Lender presentations
    • Credit applications
    • Capital structure analysis
    • Sensitivity analysis
    • Risk-mitigation articulation

Our team.

Mandates are led by professionals with senior credit experience across banking, NBFCs and structured finance.

Consultants & advisors.

Specialist advisers extend our execution capability where a mandate requires equity placement or M&A expertise.

  • Sailesh Sridhar, CFA

    Sailesh Sridhar, CFA

    Equity Placement & M&A Specialist

    Founding Partner, Yajur Partners

    Experience

    • Transworld M&A
    • Global Healthcare Advisors
    • EY
    • Finquest Capital

    Investment banking and transaction advisory professional with 15 years of experience across cross-border M&A, equity capital strategy and US mid-market transactions. His sector experience spans education, pharmaceuticals, technology, healthcare and real estate.

    • Equity Placement
    • Sell-side M&A
    • Buy-side M&A
    • Cross-border Transactions
    • Capital Strategy
    View Yajur Partners profile

25+ years of senior credit experience. 500+ client requirements overseen. Tickets from ₹5 Cr to ₹500 Cr, across India.

Based on the professional experience of the firm's leadership and historical mandates handled during prior banking and advisory careers. Transaction examples represent selected assignments and do not constitute a comprehensive transaction list.

Transaction support partners.

Bspoke handles debt. Where a requirement calls for equity fundraising or a change of control, we execute alongside a specialist transaction partner.

Yajur Partners

Equity fundraising. M&A. One advisor.

yajurpartners.com →

Where a requirement calls for equity capital or a change of control rather than debt, we execute alongside Yajur Partners — a capital advisory firm covering seed through IPO, with merchant banking capability and an investor network across the US and India.

global investor relationships
450+global investor relationships
sectors covered
24+sectors covered

  • Seed to IPO · $0.5Mn – $50Mn+

    Equity fundraising

    Equity capital raises run as a managed process — from positioning and investor narrative through outreach, diligence and close.

    • Positioning and investor narrative
    • Curated investor outreach
    • Round structuring and syndicate design
    • Term sheet negotiation
    • Pre-IPO placement
    • IPO readiness diagnostics
    • Cross-border US–India execution

  • $10Mn – $500Mn

    M&A support

    Sell-side, buy-side and cross-border mandates managed end to end, from buyer strategy through signing and post-close transition.

    • Sell-side mandate scoping
    • Buyer strategy and curated access
    • Controlled process management
    • Buy-side target sourcing
    • Valuation analysis
    • Counter-party management
    • Negotiation and close execution
    • Post-close transition

Figures above represent the transaction record of Yajur Partners and not that of Bspoke Capital. Equity fundraising and M&A mandates are executed by Yajur Partners; debt advisory and placement remain within Bspoke Capital.

Bspoke Capital's founder serves as a Senior Advisor to Yajur Partners.

Structure → Source → Close

A financing requirement deserves more than a lender introduction.

We begin with the business, the requirement and the underlying economics — then evaluate the financing structures available and position a credit proposition to the right capital providers.

  1. 01

    Understand

    We begin with the business, the requirement and the underlying economics — not with a product.

  2. 02

    Diagnose

    We evaluate financials, cash flows, existing liabilities, collateral and credit considerations.

  3. 03

    Structure

    We develop financing alternatives aligned with the requirement and identify the most appropriate capital solution.

  4. 04

    Position

    We build the financial model, information memorandum and lender presentation into a credible credit proposition.

  5. 05

    Execute

    We engage the relevant capital providers and carry the transaction through diligence, negotiation and closure.

Selected transaction experience.

Selected transactions closed across debt, structured finance and special situations. Open any card for the transaction detail.

  • Closed

    AI-enabled IT & communications business

    Structured Finance

    Undisclosed

    AI-enabled IT & communications business

    Closed
    Sector
    Technology & Communications
    Financier
    Undisclosed capital provider
    Closed
    September 2026
    Undisclosed
    Undisclosed

    Structured Finance

    AI-enabled IT & communications business

    Situation

    A structured finance transaction in the AI-enabled information technology and communications sector reached financial closure.

    Our approach

    • Structured and coordinated the financing through to financial closure

    Outcome

    Financial closure achieved. The client, capital provider and transaction value remain undisclosed.

    View closure announcement
  • Closed

    Rathi Steel and Power

    OTS Financing & Takeout with Working Capital

    ₹65 Cr

    Rathi Steel and Power

    Closed
    Sector
    Metals & Power
    Financier
    Kotak Mahindra Bank
    Closed
    March 2021
    ₹65 Cr
    ₹65 Cr

    OTS Financing & Takeout with Working Capital

    Rathi Steel and Power

    Situation

    An integrated steel and power business carrying a default history needed one-time-settlement financing alongside fresh working capital to restart normal operations.

    The constraint

    The default record closed conventional credit channels. A lender would have to underwrite a turnaround rather than a clean balance sheet.

    Our approach

    • Reconstructed the operating turnaround and its cash-flow evidence
    • Framed the OTS and working capital requirement as a single structure
    • Positioned the transaction as a high-conviction growth participation at an attractive yield
    • Ran the credit process through to sanction and disbursement

    Outcome

    ₹65 crore arranged, restructuring the legacy debt while funding the working capital cycle.

  • Closed

    Phthalo Colours and Chemicals (Nanavati Group)

    Refinancing

    ₹40 Cr

    Phthalo Colours and Chemicals (Nanavati Group)

    Closed
    Sector
    Chemicals
    Financier
    Kotak Mahindra Bank
    Closed
    June 2021
    ₹40 Cr
    ₹40 Cr

    Refinancing

    Phthalo Colours and Chemicals (Nanavati Group)

    Situation

    Refinancing for working capital and term loan, providing takeover and top-up and easing of cash flows for better serviceability of debt.

    The constraint

    Required despite a downgrade and business challenges.

    Our approach

    • Identified key business strengths and potential downside protections
    • Considered the promoters' skin in the game

    Outcome

    ₹40 crore refinanced, easing cash flows for better serviceability of debt.

  • Closed

    U-Solar Clean Energy Pvt Ltd

    Project Financing

    ₹70 Cr

    U-Solar Clean Energy Pvt Ltd

    Closed
    Sector
    Renewable Energy & EPC
    Financier
    IREDA
    Closed
    February 2022
    ₹70 Cr
    ₹70 Cr

    Project Financing

    U-Solar Clean Energy Pvt Ltd

    Situation

    Project financing for a high-value solar EPC project executed by the company, with a specific charge on project assets and cash flows.

    The constraint

    Challenges of security and collateral.

    Our approach

    • Structured a specific charge on project assets and cash flows

    Outcome

    ₹70 crore project financing arranged despite challenges of security and collateral.

  • Closed

    Ortho Clinical

    NBFC Funding

    ₹100 Cr

    Ortho Clinical

    Closed
    Sector
    Lease Rental Discounting
    Financier
    Vivriti Capital
    Closed
    December 2025
    ₹100 Cr
    ₹100 Cr

    NBFC Funding

    Ortho Clinical

    Situation

    Funding against assignment of lease rentals.

    Our approach

    • Structured the funding against assignment of lease rentals

    Outcome

    ₹100 crore of pure cash-backed financing delivered within 7 days.

  • Closed

    Baanganga Group

    Promoter Financing

    ₹50 Cr

    Baanganga Group

    Closed
    Sector
    Promoter Financing
    Financier
    Jio Credit
    Closed
    March 2026
    ₹50 Cr
    ₹50 Cr

    Promoter Financing

    Baanganga Group

    Situation

    Loan against promoter-held shares, for land acquisition for expansion.

    Our approach

    • Structured the loan against promoter-held shares

    Outcome

    ₹50 crore delivered in exceptional speed for land acquisition for expansion.

  • Closed

    Leading real estate developer

    LRD + LAP

    ₹250 Cr

    Leading real estate developer

    Closed
    Sector
    Real Estate
    Financier
    Institutional NBFC
    Closed
    March 2026
    ₹250 Cr
    ₹250 Cr

    LRD + LAP

    Leading real estate developer

    Situation

    Funding with takeover and top-up.

    Our approach

    • Structured the funding with takeover and top-up

    Outcome

    ₹250 crore arranged with takeover and top-up.

Transaction experience includes selected transactions undertaken by the firm's professionals during their careers and mandates undertaken by Bspoke. Certain transaction details have been anonymised or withheld due to confidentiality obligations.

Current mandates.

Selected mandates currently being worked on across performing credit, structured finance and special situations.

All mandates

₹3,170 Cr

Mandates

12

  • ₹1,550 CrPerforming Credit

    Debt Refinance

    Leading integrated yarn manufacturer

    Refinancing with removal of guarantee and covenant dilution, alongside improvement in commercials.

    Capital source
    Bank
  • ₹500 CrPerforming Credit

    Land Funding

    Leading real estate developer (West)

    Funding for acquisition of land for project development.

    Capital source
    NBFC
  • ₹300 CrEquity & Pre-IPO

    Pre-IPO Fund Raise

    Leading EV fleet operator

    Equity placement at a 30% discount to IPO price.

    Capital source
    HNI / Family offices / Institutional investors
  • ₹150 CrPerforming Credit

    Bridge Finance

    Solar EPC company

    Funding as a bridge to project debt for quicker turnaround.

    Capital source
    NBFC
  • ₹150 CrSpecial Situations

    Construction Financing

    Distressed real estate group

    Growth financing to accelerate construction.

    Capital source
    Real estate funds
  • ₹100 CrPerforming Credit

    Land Funding

    Leading real estate developer (South)

    Funding for acquisition of land.

    Capital source
    NBFC
  • ₹100 CrEquity & Pre-IPO

    Equity Raise

    Leading FTWZ / C&F service provider

    Series A fund raise.

    Capital source
    PE funds
  • ₹85 CrPerforming Credit

    Refinancing

    Leading hotel group

    Refinancing with takeover, restructuring and tenor extension.

    Capital source
    DFI
  • ₹65 CrPerforming Credit

    Promoter Financing

    Leading textile exporter

    Structured trade with a mix of promoter equity and collateral.

    Capital source
    NBFC
    Stage
    Term sheet negotiation
  • ₹60 CrPerforming Credit

    Promoter Buy-out

    Footwear manufacturer

    Funding to finance a promoter stake buyout.

    Capital source
    NBFC / Fund
  • ₹60 CrPerforming Credit

    Acquisition Financing

    Investment company

    Funding for a leveraged buy-out by an offshore investment company in India.

    Capital source
    Funds / NBFCs
  • ₹50 CrPerforming Credit

    Equipment Funding & Sale-Leaseback

    Leading packaging company

    Standalone equipment financing with monetisation through sale and lease back.

    Capital source
    NBFC

Transaction details are presented on an anonymised basis where confidentiality restrictions apply. Mandates listed are currently being worked on and are not a representation that any financing will be sanctioned or disbursed.

Sector experience.

Our experience spans a diverse set of industries, allowing us to bring sector-specific credit perspectives to each financing requirement.

Access across the capital ecosystem.

Bspoke works across a broad spectrum of capital providers, including banks, NBFCs, private credit funds, alternative lenders, ARCs and other institutional financing platforms.

  1. 01Banks
  2. 02NBFCs
  3. 03Private Credit
  4. 04Alternative Lenders
  5. 05ARCs
  6. 06Institutional Capital

For capital providers

We work with institutional capital providers to identify and structure financing opportunities across performing credit, structured finance and special situations — with credit packaging, financial analysis and execution support through to closure.

Partner with Bspoke

Why Bspoke.

  • Senior credit perspective

    Led by professionals with extensive experience across lending and financial services.

  • Requirement-led structuring

    We start with the financing requirement rather than a predetermined product looking for a borrower.

  • Institutional presentation

    We translate complex businesses into clear, lender-ready propositions.

  • Multi-source capital access

    We evaluate financing options across banks, NBFCs, alternative lenders and institutional capital.

  • Hands-on execution

    We stay involved from initial assessment through lender discussions and transaction closure.

  • Bespoke approach

    Every mandate is evaluated on its own commercial and credit merits, never against a template.

Bspoke Insights.

Analysis of debt markets, structured finance and regulatory developments that shape capital decisions.

View all insights

Have a capital requirement?

Tell us what you are trying to achieve. We will help you evaluate the financing route, structure the requirement and identify potential sources of capital.

Speak to the Advisor