Alternative Investment Portfolio Update – April 25

It is turning out to be a turbulent time for the stock market in India. Trump recently provided a 90-day break in the tariff, which gave the market a breather, but the recent border conflict has again added to the volatility in the market.

Both the Tariff and war can cause a knee-jerk reaction to the market, as many factors can change in the short term due to these, such as –

  • FII Inflow
  • GDP estimate
  • Inflation

Let’s evaluate how various scenarios of war and military conflict can impact the market and economy based on history.

Markets React to Conflict, but Usually Temporarily

  • Initial Panic: Military conflicts often trigger short-term volatility and drawdowns.

  • Recovery & Growth: Historically, markets have rebounded post-conflict, often delivering strong 1-year returns after initial shocks.

Conflict 1-Year Nifty Return Post-Conflict
Balakot Airstrike (2019) 8.9%
Uri Surgical Strike (2016) 11.3%
Kargil War (1999) 29.4%
  • GDP Growth: In most cases, GDP growth remained intact or even improved post-conflict (e.g., Kargil War, 1965 war).

  • Inflation & Fiscal Deficit: Typically see a spike during/after conflict periods.

Conflict GDP Trend Inflation Trend
Kargil War ↑ from 6.18% to 8.85% ↑ to 5.9%
1965 War ↑ from 5.99% to 7.45% ↑ to 10%
1971 War ↓ to 1.19% ↑ stayed >5.5%
1962 War ↓ slightly ↑ sharply

Alternative Investments, Defaults, and Delays

We have created a table to make it easy for everyone to track the latest status of ongoing delays and delays on various platforms and the current updates around them.

Name DealStatusUpdate
GrowpitalPlatform FreezeSEBI Freeze- SEBI needs to finalize escrow repayment mechanism
AltgraafArzoo Partial Repayment- Litigation Process against Arzoo initiated
TapinvestMelorra Asset Leasing/
Growpital Leasing

Gensol
Early Asset Buyback for Melorra,
growpital asset stuck

Gensol ID partial repayment
-Resolution ( Final Payoff Pending)
-Growpital Assets identified in Barmer

- ED froze Gensol acccounts
GripinvestBigspoonPartial Repayment- 25% asset recovery pending.
kredxMultiple deals

BIRA bonds
Litigation

- Delay in multiple deals such as TCS, Dairy Power, CBRE etc

Bira Interest delay

TradecredBizongo

Clensta
Delay due to Bizongo Funding

Debt Repayment Pending
- Repayment expected by June
BondsTrucap

AGS Transact


Satin Credit

Midland
Trucap downgrade to BBB- Stable
AGS defaults in few obligation
NPA covenant breached for Satin
Loss Covenant breached Midland
- Coupon increased to 13% ,5 months remaining for
repayment.

- Grip Monitoring SDI of AGS

- Coupon increased by 2%
BetterinvestStudio GreenPartial Repayment- Payment expected by March End for few
- Few people got the payment with option to extend deal to June
Few more people got repayment
LeasifySharepal Partial Repayment- Last tranche delayed

Currently, below are the key new updates on the various delays across Alternative Investment platforms.

  • Tapinvest Gensol Delay
  • Kredx Bira Delay
  • Midland Microfin Covenant Breach

Tapinvest Gensol Delay

The Gensol Blusmart fiasco has affected the payment of invoices on Tapinvest.

SEBI has issued an interim order against Gensol Engineering Limited, alleging financial mismanagement, fund diversion, and regulatory violations. The order highlights serious lapses in corporate governance, misrepresentation to credit rating agencies, non-disclosure of defaults, and diversion of funds for personal and unrelated business purposes.

In the meantime, Tap initiated notices to Gensol regarding the liquidation of security measures, such as NACH (Nach Mandate) and cheque bounce procedures, as alternative recovery mechanisms to expedite the repayment process.
They have been able to partially recover the money through NACH mandate, however, now ED has frozen the bank account of Gensol, hence the remaining amount can only be recovered after the investigation is over.

Kredx Bira Delay

Few investors have claimed that BIRA has delayed their interest payment on the Kredx platform. It seems BIRA is going through a liquidity crisis and hence looking to raise more capital. Most probably, they should be able to navigate this.

Midland Microfin Covenant Breach

Microfinance-focused Midland suffered a loss this quarter due to stress in the overall sector and the high NPA. This has caused a covenant breach, and the coupon rate has gone up by 2%

Alternative Investment Portfolio Updates

perannum

This month, we explored a new opportunity by Pern Annum called Estates

This is a platform that allows you to have fractional ownership of luxury flats before they are sold to buyers at launch. This can help you to take advantage of capital appreciation during the sale.

We did a detailed article on Estates – How does Estate work?

Estates Early Access

We keep exploring good, high-yield bond opportunities in the market. We are also exploring some AIF CAT II funds focused on Credit. Will cover those details in the future.

If someone is interested, they can ping us, and we can share more details.

For listed bonds, you can check  Randomdimes<> Aspero collaboration . You can use the randomdimes registration link to avail the best prices.

Telegram channel for *the Latest Alternative Investment News

Real Estate Investments

fundbezzie

Fundbezzie is the new addition to our alternative investment portfolio. Few units of the Ayodhya opportunity are available currently.

Ayodhya Land Query

Alt DRX Private Opportunity reduced Ticket

Altdrx

 AltDRX   has reduced the minimum investment to INR 2.5 Lakh for Private opportunity or all Randomdimes investors. This can help people diversify across multiple land opportunities and reduce risk.

They have recently listed a new opportunity that will cover the entire India for choosing the property, hence can give better diversification.

Medium Term Investment

Policy Exchange new listing has been deferred to May as they are currently onboarding new partners. Some of the top high-yield opportunities for this month

  • Randomdimes<>Aspero – 15.55% Akara
  • Grip Invest –  VFS 12.75% IRR
  • True Credit – 18% IRR (Fund Selling)

Below is the list of bonds currently offered on Randomdimes<>Aspero.

Aspero Randomdimes Page

Alternative investment

 

Platform Returns RD NPA Total NPA
Grip Invest 10-12%(Post-Tax) 0.00% 0.30%
Klubworks (stopped) 20%+ 0.15% 1.25%
WintWealth (paused) 10-11.5% 0.00% 0.00%
Jiraaf (altgraaf) 12-15% 0.00% 0.25%
Sustvest(defunct) 10-11% 0.00% 0.00%
Afinue(Upcide) 13%(Post Tax) 0.00% 0.00%
Thepolicyexchange 12-14%(Tax Free) 0.00% 0.00%
Earnnest.me 15% 0.00% 0.00%
Leafround(Tapinvest) 15-18% 0.00% 0.4%
Altifi 12.5% 0.00% 0.00%
Betterinvest 16%-18% 0.00% 0.00%
Incred Money 11.0% 0% 0%
Randomdimes Youtube

Short-Term Investments

Platform Returns RD NPA Investor NPA
Liquiloans (Stopped) 9% 0% 0%
Tradecred 11.50% 0% 0%
Lendbox Per Annum 11.50% 0% 0%
Lendzpartnerz (Monytics) 13.00% 0% 0%
Faircent (paused) 11% 0% 0%
KredX (Stopped) 10% 0% 3%
13  Karat (Paused) 13% 0% 0%
  • Currently invested in 2 Invoice deals on Tapinvest
  • Invested in 1 deal on Amplio
  • Invested in Altsmart (bank Guarantee deal) on Altgraaf

Crypto Investing

 The world’s biggest cryptocurrency, Bitcoin (BTC), has once again reclaimed the psychologically significant mark of $100,000 for the first time since January 31, 2025, in the wake of a sustained rally amid easing global trade tensions.

Bitcoin held up surprisingly well during the recent stock market declines; while some of its outperformance was undoubtedly driven by a sharp fall in the dollar, its safe-haven status has shone. But, even as tariff-based market jitters calmed recently, driven by a US-UK trade deal, BTC has jumped higher alongside the dollar.

Ethereum has jumped more than 70% to trade above $2,400  following the major Pectra upgrade, driven by renewed risk-on sentiment that spurred investor buying.

ETH is finally catching up after lagging behind $BTC for most of the year. The recent Pectra upgrade has helped restore some confidence, and with ETH/BTC down nearly 40% year-to-date at 0.02, it’s not surprising to see buyers stepping in at these levels

Investors can either  Hardware Wallets on Etherbit or buy Bitcoin ETF on Stockal.

P2P Investment

Current allocation:

  • India P2P – 35%
  • I2IFunding- 45%
  • Lendbox -20%
Platform Loans Selected Yield NPA
I2IFunding(Restarted) Urban Clap Loans 13.80% 4.4%
IndiaP2P Only Women Borrower Loans, Branch-based p2p lending 13% 5.5%
Lendbox Per Annum Paused 11.50% 0.50%
  •  There has been no change in  I2Ifunding (Referral code discount50@i2i) as it is already following direct borrower lending. The returns have been around 14% to date. Now they are focusing on only one category i.e, Urban Clap Loans

 Equity Market

Pre-IPO Stocks

NSE
The National Stock Exchange of India (NSE) has started settling trades of its unlisted shares electronically. The decision aims to significantly shorten trade settlement times, reducing them from months to days. Previously, transactions required approval from both NSE and Sebi, delaying settlements by up to four to five months. The revised process is expected to boost trading activity in the grey market

The price of NSE shares has come down a bit due to the impact of current market volatility. The latest price available for NSE is around 1550 INR.

 Listed Stocks

Investing in global markets, along with India, proved to be a good decision.

After falling out of favor in the first quarter, the megacap tech stocks that make up the “Magnificent Seven” have fueled the market’s recovery from sharp losses posted after President Donald Trump’s tariff announcement. Stocks have climbed nearly 14% since bottoming out on April 8 (the day before Trump announced a 90-day pause on many of his new tariffs).

OptionTrading

April was a tough month as the market had a sharp rally after the Trump tariff pause. When the market looked stable, the Pakistan issue caused a sudden reversal, making it difficult to manage. We were able to close the month almost flat.

Below is the new video as a part of the series on top traders.

We covered Quantinsti one of the top quant trading course providers in India. It is really helpful for someone looking to enter this field.

Starters can explore tradetron as it requires a minimum learning curve and marketplace to copy or Bigul if they want to develop their own strategies.

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