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Services & Financial sector · IT services, BPO, SaaS

Debt advisory for IT, ITES & SaaS.

Working capital with FX consideration for IT exporters, ECB for natural-hedge USD revenue businesses, and venture debt for growth-stage SaaS companies. Pan-India IT services hub coverage.

₹100 Cr+ mandates ECB for USD revenue Venture debt for growth-stage
WORKING CAPITAL TERM LOANS PROJECT FINANCE STRUCTURED DEBT ECB NCD SERVICES & FINANCIAL IT, ITES & SAAS SECTOR

How does BIG LOANS work with IT, ITES and SaaS companies?

BIG LOANS arranges ₹100 crore-and-above debt for Indian IT services, ITES (BPO/KPO), and SaaS product companies. The defining characteristic of this sector is high USD revenue concentration — most IT services and SaaS companies have 60-90% FX revenue from US, Europe, Asia-Pacific clients. This makes ECB particularly attractive — typically 100-300 bps cheaper than equivalent rupee debt for natural-hedge borrowers. Other common products: working capital with multi-currency structures; venture debt with warrants for growth-stage SaaS companies; LRD on company-owned campus offices.

Section 01 — IT, ITES & SaaS debt landscape

USD-revenue concentration, ECB-favourable.

IT and SaaS exporters have natural FX revenue match — 60-90% USD revenue is typical. This makes ECB structurally favourable: SOFR + 150-300 bps in USD equivalent is typically 100-300 bps cheaper than rupee debt at 9-11%. Foreign banks (StanChart, HSBC, DBS, Citi) are heavily active for ECB origination in Bengaluru, Hyderabad, Pune, Chennai.

For growth-stage SaaS companies with strong recurring revenue (ARR) but not yet profitable, venture debt is the appropriate product — typically structured as NCDs or term loans with equity warrants. Trifecta, Stride, Alteria Capital are the most active venture-debt providers.

IT exports
USD 250B+
FX revenue
60-90% typical
ECB usage
Heavy
Major hubs
BLR, HYD, PUN, CHN
Venture debt market
Growing fast
Section 02 — Common funding situations

When it, ites & saas businesses approach us.

Common funding situations across IT, ITES and SaaS.

01

IT-exporter working capital + ECB

Multi-currency structure for IT services with 60-90% USD revenue. Working capital + ECB tranche, ₹100 Cr to ₹1,000 Cr equivalent.

02

Pure ECB refinance

Refinancing existing rupee debt into ECB at lower pricing. 100-300 bps savings typical for natural-hedge borrowers.

03

SaaS venture debt

Growth-stage SaaS with ARR but not profitable. Term loan / NCD with equity warrants, sized to milestones.

04

IT-services capex / campus

New campus construction or major capacity addition for IT services companies. Term loans / project-style finance.

05

BPO/KPO working capital

Working capital for BPO/KPO with extended customer payment terms (90-150 days from US/EU clients).

06

IT-promoter funding

Promoter funding for IT founders against listed shares (post-IPO) or pre-IPO structured deals.

Section 04 — Lender appetite

Foreign banks dominate for ECB.

IT/SaaS lending has a distinct lender mix — foreign banks dominate ECB; venture debt funds dominate growth-stage; banks for established players.

01

Foreign banks (ECB primary)

StanChart, HSBC, DBS, Citi, MUFG, BNP — heavy ECB origination from Bengaluru and Hyderabad.

02

Private banks

HDFC, ICICI, Axis, Kotak — competitive on rupee tranches and structured FX deals.

03

PSU banks

SBI, BOB, Indian Bank — active for established IT services (TCS, Infosys, Wipro tier).

04

Venture debt funds

Trifecta, Stride, Alteria Capital — dominant for growth-stage SaaS not yet profitable.

05

AIF credit funds

Active for larger growth-stage deals, pre-IPO bridge financing for SaaS unicorns.

06

Family offices

Tech-promoter family offices — particularly active in promoter funding for post-IPO founders.

Section 05 — Our process

How it, ites & saas mandates close.

Same 5-stage process for any large-ticket corporate debt mandate, applied to it, ites & saas specifics.

01

Discovery & sector diagnostic

NDA, then a short call to understand the business model, key financial drivers, capital need. Sector-specific risk factors mapped early.

Week 1
02

Structuring & lender shortlist

Optimal facility mix, tenor, security. Lender shortlist tuned to sector appetite — banks for vanilla, NBFCs / AIFs for specialty structures.

Week 2 – 3
03

IM + lender outreach

Sector-grade Information Memorandum, financial model, market analysis. Pitched to shortlisted lenders in parallel.

Week 3 – 8
04

Competing term sheets & sanction

Multiple sanctions negotiated in parallel on pricing, covenants, security. Final lender(s) selected.

Week 8 – 12
05

Documentation & drawdown

Loan agreement, security creation, CPs satisfied, drawdown. Sector-specific compliances (RERA, FEMA, SEBI, etc.) handled along the way.

Week 12 – 16
Section 06 — FAQ

IT, ITES & SaaS debt — FAQs.

Natural FX hedge plus pricing advantage. IT exporters earn USD; ECB pays USD interest. SOFR + 150-300 bps in USD is typically 100-300 bps cheaper than rupee debt at 9-11%. Most established IT services companies have permanent ECB tranches in their capital structure.
Venture debt is debt for VC-backed growth-stage companies — typically structured as term loans or NCDs with equity warrants (2-5% of company at preferred-round price). Sized to fundraising milestones. Higher cost than bank debt (13-16% IRR) but cheaper than equity dilution.
Yes — through (a) venture debt for growth-stage non-profitable, (b) standard term loans once profitable / at scale, (c) mezzanine for late-stage with IPO timeline visibility. Structuring differs significantly by stage.
BPO/KPO has longer customer payment cycles (90-150 days for US/EU clients) than typical Indian B2B. Working capital MPBF is mostly receivables-driven. Banks accept this if customer quality is high (Fortune 500 / large MNC clients).
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Bigger Support, Brighter Future. India's specialist debt advisor for ₹100 Cr+ corporate funding mandates. Pan-India. Confidential. Senior banker-led.

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BIG LOANS is the trade name of [Legal Entity Pvt. Ltd.], CIN: [xxx], registered at [address]. BIG LOANS is a debt advisory and loan facilitation firm. It is not a bank, NBFC or any other lending institution registered with the Reserve Bank of India, does not accept public deposits, does not lend money on its own books, and does not issue any loan, credit facility or financial product directly. All loans, limits and credit facilities are sanctioned, disbursed and serviced solely by the relevant banks, NBFCs, AIFs and other regulated lenders, in accordance with their internal policies and applicable RBI / SEBI / IRDAI guidelines. BIG LOANS is empanelled as a Direct Selling Agent / Channel Partner with various banks and NBFCs and may earn sourcing fees from such lenders for successful disbursements. Any borrower fees are governed exclusively by a written engagement letter. Information on this website is general in nature and not financial, legal or tax advice. Please consult your CA / advocate before acting.

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