Godrej Industries Group enters private credit with ₹2,000 crore fund, targeting mid-sized companies with flexible capital solutions and covenant protections.
Godrej Industries Group has opened a ₹2,000 crore private credit fund, with a ₹1,000 crore green-shoe option. The fund marks the conglomerate's first push into an asset class that is drawing a wave of new entrants.
The vehicle will raise money through a private placement to high-net-worth individuals, family offices and institutional investors, Godrej Capital said in a statement Tuesday. It will target performing mid-sized businesses, offering growth financing, acquisition capital and working capital loans.
“Private credit is a natural extension for us,” said Manish Shah, non-executive director at Godrej AMC and managing director of Godrej Capital. He said many well-run mid-sized companies need capital that offers more flexibility than conventional loans, without equity dilution.
The fund will follow a sector-agnostic performing credit strategy, focusing on companies with strong operating performance and cash flow. Financing will be backed by hard collateral and covenant protections, the firm said.
Pavan Manchala, chief investment officer for private credit, said the team will anchor the strategy in direct origination, prioritising companies where it already has relationships. That pipeline should keep capital deployed and underwriting disciplined, he said.
The launch comes as more domestic and foreign firms crowd into Indian private credit. Over the past 12–18 months, 360 One, Motilal Oswal Alternates, True North, Edelweiss, Multiples Alternate Asset Management, Prabhudas Lilladher and Vivriti Asset Management have all raised new funds.
Godrej Industries Group serves about 1.4 billion people across FMCG, real estate, financial services, agriculture and chemicals. In its last fiscal year, it reported $7.2 billion in revenue and a $19 billion market capitalisation.
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