M&A
Svatantra MicroFin buys out Sachin Bansal-led MFI Chaitanya for Rs.1,000-Cr: report
Svatantra MicroFin Pvt Ltd has acquired Sachin Bansal-led Chaitanya India Fin Credit for INR 1,000 crore or about 1.3 times FY23 price to book value. The deal makes Svatantra the second largest player among NBFC-MFIs, with combined assets under management of around INR 11,000 crore, based on FY23 financials. Svatantra MicroFin is promoted by Kumar Mangalam Birla's daughter, Ananya Birla, who founded the company in 2012. Chaitanya was acquired by Sachin Bansal in September 2019 from its co-founders, Anand Rao and Samit Shetty, for INR 739 crore. Bansal reportedly started exploring exit options from the company after the RBI turned down Chaitanya's application for a universal bank licence (in May 2022).
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