We raise capital for the companies building India's hard infrastructure.
Equity, debt, structured and public-private partnership mandates from ₹25 lakh to ₹100 crore — researched, structured and run on a process you can see.
Four kinds of mandate
Equity raises
Seed to growth equity from angels, family offices, venture and private equity funds and strategic investors. We prepare the information memorandum, model and data room, build a named investor shortlist and run the process to closing.
Debt and project finance
Term loans, construction finance, equipment finance and working-capital lines from banks, NBFCs and development finance institutions — supported by bankable project reports from WA Research.
Structured capital
Convertible instruments, mezzanine, revenue-share and blended structures that combine private capital with government incentives — so founders raise what they need without giving away more than they should.
PPP and project structuring
Bid financial models, consortium formation and special-purpose-vehicle design for public-private partnerships — the same work we did for two parking projects in Gurugram for a leading national developer.
The right capital, not just more of it.
Hard-infrastructure companies fall between two kinds of investor. Venture capital wants asset-light growth and discounts capex. Banks want collateral and three years of profits and discount founders. Our job is to build a stack that both can accept.
For each of our sectors we publish a WA Capital Stack — the combination of equity, debt, subsidy and offtake that typically works for that kind of asset. We start every mandate from that template and adapt it to your company.
Read our Capital Stack notes →A typical stack for a new infrastructure asset
- Promoter and investor equity — usually 25–40% of project cost
- Term debt from banks or NBFCs — usually 50–70%
- Government incentives — capital subsidies, interest subvention, tax and duty relief where eligible
- Offtake or concession contracts — what makes the debt bankable
Every project is different; the right proportions depend on cash flows, collateral and contract quality.
From first call to closing in 14–22 weeks
Every mandate follows the same published process on the WA Deal Room.
Fit and conflict check
A first call with a partner, a conflict check and a short note on whether we can help and how.
Signed scope and fees
A mandate letter with our scope, timeline and fees in writing — no surprises later.
We test the story
Business, financial and technical diligence with our empanelled sector experts.
The capital stack
Financial model, sensitivities and the recommended mix of instruments.
Investors and lenders
Invite-only outreach to a named shortlist, data room, Q&A and site visits.
Terms to money
Term-sheet comparison, negotiation, documentation and closing — then quarterly reporting.
Our fees, before you ask.
Transparency starts with our own pricing. These are our indicative fees for 2027; the final fee for each mandate is agreed in writing before any work begins.
| Service | How we charge | Indicative range (plus GST) |
|---|---|---|
| Engagement retainer | Per mandate, payable in stages; adjusted against the success fee | ₹1.5 lakh – ₹7.5 lakh |
| Equity raise | Success fee on capital raised | 1.5% – 3% |
| Debt raise | Success fee on sanctioned facilities | 0.75% – 1.5% |
| PPP bid and structuring | Fixed fee per bid, plus success fee at financial close | Agreed per project |
| DPRs and feasibility studies | Fixed fee | ₹5 lakh – ₹40 lakh |
We act for the company raising capital. Our fee is paid by the company and disclosed to every investor we approach. We do not accept undisclosed payments from investors.
What we will not do
- We do not offer securities to the public. Every raise is a private placement to a limited, invited group of investors.
- We do not hold or pool investor money. Funds move directly from investors to the company, or through a bank escrow.
- We do not give investment advice to investors on the deals we arrange for companies.
- We do not take mandates we cannot diligence properly, or where a conflict cannot be managed.
We usually work with companies that have a working product or a defined project, at least one customer, offtaker or concession in sight, and audited or auditable accounts. If you are earlier than that, look at RUNWAY.
Raising ₹25 lakh to ₹100 crore?
Tell us about your company or project. A partner replies within two working days.