Ananya Birla's Svatantra Microfin to acquire Sachin Bansal-owned Chaitanya India for Rs 1,479 crore

The deal is likely to be completed by the end of 2023


Microfinance institution Svatantra Microfin Private Limited, founded by Ananya Birla, is all set to acquire Chaitanya India Fin Credit, an NBFC-MFI arm of Navi Group, Rs 1,479 crore in what is being touted as one of the biggest deals in the microfinance sector.

Navi Group is co-founded by Sachin Bansal, the co-founder of Flipkart.

The deal is likely to be completed by the end of 2023. The acquisition will see Svatantra becoming the second-largest microfinance institution in the country.

“The proposed acquisition will propel Svatantra to a significant leadership position. The combined entity will command a substantial reach, enabling the delivery of a diverse array of financial services to our clients across a geographically diverse portfolio," Ananya Birla said in a statement.

"We are committed to being a responsible lender, and I believe our synergistic strengths and shared ethos will accelerate our ongoing journey to create a unique, valuable and impactful financial services entity," the statement further said.

“We have seen Chaitanya grow almost 6X in the last 4 years, making credit accessible to rural India. This transaction is in line with our strategic plan to focus on our digital-first businesses, as we continue our digital-first financial services through the Navi Group," Bansal said. We believe that Svatantra is a good fit for Chaitanya and that the company will continue to grow and prosper with the combined expertise of both teams, he added.

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