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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
The investment follows Svatantra's recent acquisition of Chaitanya India Fin Credit Limited
Huge business prospects for all players to grow
Combined entity to become 2nd-largest MFI player
The acquisition is set to position Svatantra as the second largest NBFC-MFI in India, fostering a boost to microfinance reach and impact
The microfinance institution, having a loan book of Rs 260 crore, focuses on lending to rural women