25 YEARS IN INDIA: LEADING WITH IMPACT
Funding - NBFC Sector
NCD issuances expected to pick up for NBFCs; improving credit growth and
resolution of stressed assets to provide boost
NCD issuances saw a sharp drop in volume in FY22
NCD issuances (Rs Bn)
HFCs, Auto and Infra drive issuances
Segment-wise issuances (Rs Bn)
Education
3
913
855
FY20
FY21
FY22
695
645
574
437
572 567
Microfinance
455
450
15
390
351
Gold
25
Affordable HFCs
29
Q1
Q2 Q3 Q4 Q1
Q2 Q3 Q4
Q1
Q2 Q3 Q4
Diversified
FY20
FY21
FY22
121
NCD Coupon rates
Wholesale
126
9.29 9.17 9.38
8.85 8.94
8.95 8.43 8.23
Infra
7.39
7.61 7.40
7.66
151
Auto
Q1
Q2 Q3
Q4
Q1
Q2
Q3 Q4
Q1
Q2
Q3
Q4
FY20
FY21
FY22
Note: Top 100 companies in terms of AUM (Asset Under Management) considered for issuances
Source: BSE, CRISIL Research
HFCs
| 460
715
26
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