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Ananya Birla's Svatantra to acquire micro lender Chaitanya for ₹1,479 cr
The Morning Standard
|August 09, 2023
IN one of the biggest deals in the microfinance industry, Ananya Birla's Svatantra Microfin Private Ltd (Svatantra), has entered into a definitive agreement to acquire Chaitanya India Fin Credit Private Ltd (Chaitanya), a wholly owned subsidiary of Navi Group (Navi) for ₹1,479 crore.
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The transaction is expected to be completed by the end of 2023, subject to receipt of regulatory approvals and customary closing adjustments. Flipkart founder Sachin Bansal had forayed into financial service by acquiring Chaitanya for ₹150 crore in October 2019. The proposed acquisition is expected to transform the microfinance landscape, catapulting Svatantra into the second-largest microfinance entity in India with a reach of over 3.6 million active customers through 1,517 branches across 20 states and a combined asset under manag
Diese Geschichte stammt aus der August 09, 2023-Ausgabe von The Morning Standard.
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