[ad_1]
MUMBAI: Svatantra Microfin, founded and chaired by Ananya Birla, has reached a definitive agreement with Advent International and Multiples for a Rs 1,930 crore ($230 million) investment. This is the largest private equity investment in India’s microfinance sector.
Following Svatantra’s recent acquisition of Chaitanya India Fin Credit from Sachin Bansal, the combined entity will become one of India’s largest non-banking microfinance companies.The existing promoter group, led by Ananya Birla, will retain a significant majority stake.
Neither Svatantra nor investors disclosed the company’s valuation. In Nov 2023, Svatantra had acquired Chaitanya at a deal valuation of Rs 1,479 crore.
“This transformative era for Svatantra propels us towards our goal of becoming the foremost and most impactful microfinance institution, creating a conducive environment for entrepreneurs who fuel India’s growth story,” said Birla. The transaction is subject to approvals, including those from RBI and the Competition Commission of India.
Following Svatantra’s recent acquisition of Chaitanya India Fin Credit from Sachin Bansal, the combined entity will become one of India’s largest non-banking microfinance companies.The existing promoter group, led by Ananya Birla, will retain a significant majority stake.
Neither Svatantra nor investors disclosed the company’s valuation. In Nov 2023, Svatantra had acquired Chaitanya at a deal valuation of Rs 1,479 crore.
“This transformative era for Svatantra propels us towards our goal of becoming the foremost and most impactful microfinance institution, creating a conducive environment for entrepreneurs who fuel India’s growth story,” said Birla. The transaction is subject to approvals, including those from RBI and the Competition Commission of India.
#Ananya #Birlas #microfin #company #net #1.9k #crore #sectors #biggest #funding
