Svatantra Microfin files papers with Sebi for ₹3,000 crore public offer
The proposed IPO comprises a fresh issue and an offer for sale of Rs 1,500 crore each; fresh proceeds will be used to augment the microfinance lender's Tier-I capital
 "Svatantra Microfin files papers with Sebi for ₹3,000 crore public offer")
Ananya Birla-led Svatantra Microfin has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for an initial public offering (IPO) of ₹3,000 crore.
The proposed IPO comprises a fresh issue of equity shares worth ₹1,500 crore and an offer for sale (OFS) of ₹1,500 crore. Proceeds from the fresh issue will be used to augment the company’s Tier-I capital base to meet future capital requirements, including onward lending arising from the growth and expansion of its business and assets.
Svatantra Microfin is the second-largest non-banking financial company-microfinance institution (NBFC-MFI) in India as of March 31, 2026, in terms of microfinance assets under management (AUM-MFI).
As of March 31, 2026, the company’s AUM-MFI was ₹21,093.22 crore, against ₹14,437.87 crore as of March 31, 2024. Its share of total AUM-MFI in India increased from 3.26 per cent to 6.37 per cent during the period.
As of March 31, 2026, it was also the largest NBFC-MFI in Bihar and Uttar Pradesh in terms of AUM-MFI.
Geographical diversification is a key part of the company’s microfinance risk management strategy. The company reported the lowest gross Stage 3 ratio among MFI peers in fiscals 2025 and 2026 at 2.24 per cent and 1.19 per cent, respectively.
Svatantra Microfin’s operations include microfinance loans and secured lending products such as affordable housing finance and loans against property through its subsidiary, Svatantra Micro Housing Finance Corporation.
The amalgamation of Chaitanya India Fin Credit with Svatantra Microfin, effective March 21, 2026, strengthened the company’s geographic presence, particularly in southern India, and further expanded its pan-India footprint.
As of March 31, 2026, Svatantra Microfin had 2,123 branches across 20 states and 394 districts. Its operations were supported by 24,594 employees, including 15,575 field officers, and the company had 4.27 million active microfinance borrowers.
Svatantra Microfin was the first institution to receive an NBFC-MFI licence after the Reserve Bank of India introduced the licence in 2011. The company is led by Ananya Birla, chairperson and non-executive director.
Axis Capital, Avendus Capital, IIFL Capital Services, Kotak Mahindra Capital Company and SBI Capital Markets are the book-running lead managers to the issue.
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