Svatantra’s strategic move: On Tuesday, Ananya Birla-led Svatantra Microfin Private Ltd said that it has reached a deal to pay Rs 1,479 crore to acquire Chaitanya India Fin Credit Private Ltd, a fully-owned subsidiary of Sachin Bansal’s Navi Group. By the end of 2023, the transaction is anticipated to be finished, according to an announcement from Svatantra.
Svatantra would become the second-largest microfinance organisation in the nation after the purchase is complete, with a total asset under management of Rs 12,409 crore as of March 31, 2023, and a reach of more than 3.6 million active clients through 1,517 branches spread across 20 states.
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,” said Ananya Birla, Founder and Chairperson of Svatantra.
Svatantra will assume a substantial leadership role as a result of the proposed acquisition. According to Ananya Birla, founder and chairperson of Svatantra, “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.”
“This transaction is in line with our strategic plan to focus on our digital-first businesses, as we continue to provide digital-first financial services through the Navi Group,” added Bansal.
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