Advent, Multiples to invest ₹1,930 crore in Ananya Birla’s Svatantra

In what comes as the largest equity investment in India in the microfinance sector, Advent International and Multiples Private Equity have entered into a definitive agreement with Ananya Birla-led Svatantra Microfin Pvt.

The investment follows Svatantra’s recent acquisition of Chaitanya India Fin Credit Ltd. Upon completion of the proposed transaction and merger with Chaitanya, the combined entity will be among the largest non-banking microfinance companies in India. The current promoter group led by Ananya Birla will continue to have a significant majority stake, the company said in a release.

Svatantra started its operations in 2013 and has been operating in the sector to provide finance to women entrepreneurs.

Calling it a ‘momentous occasion,” Birla, Chairperson, Svatantra, said, ‘This investment by Advent and Multiples marks a momentous occasion for us. My team and I are grateful to have investors on board who share our vision. This transformative era for Svatantra, propels us towards our goal of becoming the foremost and most impactful microfinance

institution, creating a conducive environment for entrepreneurs who fuel India’s growth story.’

Explaining the investment rationale, Shweta Jalan, Managing Partner, Advent International, said, ‘Svatantra is uniquely placed to create one of the largest and most resilient microfinance institutions. We look forward to supporting the team at Svatantra, led by Ms. Birla, as they embark on their next phase of sustainable growth and profitability.’

Renuka Ramnath, Founder, MD and CEO, Multiples said, ‘Its recent acquisition of Chaitanya brings together two exceptional platforms and management teams. In line with Multiples’ ethos of powering new possibilities, we look forward to partnering the Svatantra team in its journey of expanding products, stepping-up technology and enhancing analytics towiden the reach of its transformational impact.’