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Even though borrowing in foreign currency is pricier right now (thanks to the weak rupee), Sridharan says they will carefully weigh all costs before moving ahead.
Piramal has already doubled its assets under management in five years, hitting ₹1 trillion ($10.5 billion), and expects another 50% jump over the next two years.
With more Indian companies borrowing abroad—$4.63 billion in February alone—the demand for alternative lenders like Piramal is only growing.