IPO
Rural women-focused Svatantra Microfin files for $315-M IPO
Mumbai-based Svatantra Microfin has filed draft papers for an initial public offering to raise up to INR 3,000 crore (USD 315 million). The transaction involves a fresh issue of shares worth INR 1,500 crore, with existing investors Advent International and Multiples offloading shares valued at an additional INR 1,500 crore.Founded by Ananya Birla, the company operates as a microfinance institution providing loans primarily to women in rural areas. It reported a net profit of INR 649 crore for the year ended March 31, representing a 45.8% increase, while revenue from operations rose by nearly 20% to INR 4,121 crore. The company plans to use the proceeds from the IPO to boost its Tier I capital base.
In Mar 2024, Svatantra Microfin had attracted about USD 233-M from Advent International, Multiples.
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