Svatantra Microfin Pvt. Ltd., based and chaired by Kumar Mangalam Birla’s daughter Ananya Birla, has entered right into a definitive settlement with non-public fairness agency Advent International and Multiples Private Equity for an funding of ₹1,930 crore ($230 million) into the corporate.
“This investment marks a momentous occasion for us. 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,” Ananya Birla, Chairperson, Svatantra, mentioned.
The funding follows Svatantra’s current acquisition of Chaitanya India Fin Credit Ltd.
Upon completion of the proposed transaction and merger with Chaitanya, the mixed entity will probably be amongst the biggest non-banking microfinance corporations in India. The present promoter group led by Ms. Birla will proceed to have a major majority stake.
