New Delhi, March 23 Svatantra Microfin Pvt Ltd announced on Monday that it has completed its merger with Chaitanya India Fin Credit Pvt Ltd (CIFCPL) and Svatantra Holding Pvt Ltd following approval from the NCLT.
The approval for the amalgamation was granted by the National Company Law Tribunal (NCLT), Mumbai Bench, through its order dated March 12, Svatantra Microfin Pvt Ltd, founded by Ananya Birla, said in a statement.
The said amalgamation, which follows the receipt of all necessary approvals, including the Reserve Bank of India (RBI), the Competition Commission of India (CCI), and BSE, solidifies Svatantra's position as the second-largest NBFC-MFI in India, it said.
The corporate restructuring following the amalgamation also includes Svatantra Micro Housing Finance Corporation Ltd (SMHFCL) becoming a wholly-owned subsidiary of Svatantra, it said, adding that this will enable the group to provide a comprehensive range of financial solutions, including microloans and secured housing finance.
The transaction marks the end of a multi-stage integration process that began with Svatantra's acquisition of CIFCPL from the Navi Group in November 2023.
With this amalgamation, it said, the company now manages a consolidated Assets Under Management (AUM) of about Rs 22,000 crore (including Housing finance business) with a network of 2,200 branches across 20 states, a team of 25,000 employees, and Rs 70,000 crore in disbursements since inception.
Together, the merged entity now serves about 5 million customers across India's micropreneurs and unbanked regions, with a strengthened focus on segments such as affordable housing, micro-enterprise loans, and livelihood financing, it said.
Ananya Birla, founder and chairperson of Svatantra Microfin, said, "Over the years, with the support of the right partners and investors, we have steadily built towards the vision we set out with -- to create an institution that meaningfully contributes to India’s financial ecosystem."
Going forward, it said, the company remains steadfast in its philosophy of customer-centricity and disciplined underwriting, ensuring that its expanded footprint delivers sustainable financial independence across rural India.
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