Blogs, insights, guides and videos on India's unlisted market — all in one place.

Berar Finance’s profit rose 81% to ₹24.4 Cr in H1 FY27, as net interest income grew 48% and NIM widened to 12.00% from 10.62%. Provisions also rose 82% to ₹30.8 Cr, so credit cost remains the key number to watch.

In today's story, we look at why India's only gas exchange just traded four times more gas than it did a year ago, and why that matters weeks before its IPO.
Profit up 25%, loan book up just 3.4%. SK Finance’s H1 FY27 looks great on the surface, but the story underneath is about cheaper borrowing, steady 10.4% margins and growing reliance on loan sales. We decode the numbers, flag the rising Stage 3 trend, and explain what unlisted investors should watch next.
Infobay AI had barely closed its last round with Ashish Kacholia on board when it lined up another. This time Bajaj Finance, LC Nueva Advisors, SilverX Fund and the Argan Fund are in the queue. Here’s what’s going on at the Lucknow AI data startup that started life as EduGorilla.

SK Finance grew its H1 FY27 profit 25% to ₹225 crore, even though its loan book grew just 3.4% in six months. Cheaper borrowing, steady 10.4% margins and gains from selling loans did the heavy lifting. But rising Stage 3 loans and slower growth are worth watching. Here’s the full story in simple numbers.

Motilal Oswal Home Finance grew its profit 19% to ₹68.9 crore in H1 FY27, helped by a fast-growing loan book, fee income that more than doubled, and steady bad loans. But under the surface, NIM slipped by almost 1 percentage point, provisions rose 70%, and leverage went up. We break down what went right and what’s worth watching.

Weeks after Ashish Kacholia backed it, Infobay AI is already raising again, and this time Bajaj Finance, LC Nueva Advisors and two AIFs want in. Here’s how an edtech-turned-AI startup from Lucknow ended up on the radar of some of India’s biggest investors.
Hero FinCorp swung from a ₹113 crore loss to a ₹150 crore profit this quarter, and its gross NPAs fell from 5.41% to 3.48% in a year. Here’s what powered the comeback and what to watch next.

Hero FinCorp turned a ₹113 crore loss into a ₹150 crore profit this quarter, as gross NPAs fell from 5.41% to 3.48% in a year. Here’s what powered the comeback, and what to watch next.
PharmEasy’s parent API Holdings wants full control of Akna Medical, its medicine wholesale arm. But instead of paying cash, it’s handing Lightrock ₹347.5 crore worth of new shares. We break down the deal, what a CCPS is, why it could point to an IPO, and what it means for shareholders voting by November 15.

PharmEasy’s parent API Holdings wants full control of Akna Medical, its medicine wholesale arm. But instead of paying cash, it’s handing Lightrock ₹347.5 crore worth of new shares. We break down the deal, what a CCPS is, why it could point to an IPO, and what it means for shareholders voting by November 15.
OYO’s parent Prism has cut its IPO size from ₹6,650 crore to ₹3,350 crore ahead of a possible November listing. We break down what this means for investors.
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