Ananya Birla’s Svatantra Microfin To Acquire Sachin Bansal’s Chaitanya India For Rs 1,479 Cr

Ananya Birla's Svatantra Microfin Private Limited to acquire Sachin Bansal's Navi Group (NAVI) subsidiary Chaitanya India Fin Credit Private Limited for Rs 1,479 crore. The acquisition is planned to be completed by the end of 2023, according to a company statement released on Tuesday.

The planned purchase will make Svatantra the second largest microfinance organisation in India, with more than 3.6 million active customers served through 1,517 branches in 20 states and a combined asset under management (AUM) of Rs 12,409 crore as of March 31, 2023.

Ananya Birla, the eldest child of Kumar Mangalam Birla, founded Svatantra Microfin, a company that offers microfinance services to Indian women living in rural areas.

In a statement regarding the planned sale of Chaitanya India to Svatantra Microfin, Navi Chairman and CEO Sachin Bansal expressed confidence that Svatantra's continued growth and success will be fueled by the combined experience of the two teams.

Chaitanya India was founded in 2009 and later purchased by Sachin Bansal in October 2019 for around Rs 150 crore. Sachin Bansal purchased the company with its parent company, which is now known as Navi Finserv Limited.