This paper studies the role of ownership structure in determining the relationship between firm characteristics and credit constraints affecting firm level investment. Firm size is a significant determinant of credit constraints in case of business group un-affiliated firms, domestic firms, and firms with promoters as majority shareholders. Same is not the case for business group affiliated firms, foreign firms, and firms where promoters are not the majority shareholders. Given that the former group of firms are likely to face greater information asymmetry, firm size appears to mitigate the problem of information asymmetry significantly.