India Private Credit League Tables 9M'26

Explore key insights and capital deployment dynamics across India’s rapidly evolving private credit market. Based on proprietary market data tracking $5.00 billion across 83 transactions in Q3 2026—an 80.2% year-over-year surge—this report delivers essential intelligence on lender rankings, mega-deal structures, domestic versus international capital shifts, and sector-level activity.

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• Top Lender Rankings: Complete Q3 2026 investor league tables by volume and market share, highlighting key deployments from domestic leaders 360 ONE Asset Management ($357M; 12.6% share) and Motilal Oswal Alternates ($238M; 8.4% share), alongside global credit fund Farallon Capital ($197M; 7.0% share).
• International vs. Domestic Capital Dynamics: Comprehensive analysis of how global credit funds reclaimed market dominance in Q3 2026 with a 57.6% share of total volume (up sharply from 38.2% in Q2 2026), snapping a multi-quarter streak of domestic fund leadership dating back to Q3 2025.
• Full-Year Volume & Trajectory (9M 2026): Macro comparison tracking year-to-date deployment of $10.04 billion across 244 deals against the $12.92 billion raised across 198 deals during 9M 2025, evaluating whether late-year momentum can close the gap.
• Sector & Use of Proceeds Activity: Granular breakdowns of capital allocation, spotlighting Real Estate’s commanding 70% share of quarterly deployment alongside refinancing’s central role as the primary driver of deal flow (55.4% of total volume).
• Mega-Deal Structural Breakdown: Deep-dive case study on Shapoorji Pallonji (SP) Group’s landmark $2.975 billion debt restructuring to cover twice-deferred NCD maturities—featuring the onshore INR 213.5 billion ($2.2B) 18.95% all-PIK debentures via Eqyizen Investment and the offshore 14.5% PIK 3NC1 private notes ($775M total) issued via Mercury Finance.