Ananya Birla-promoted Svatantra Microfin files for Rs 3,000 crore IPO
Svatantra Microfin has filed for a Rs 3,000 crore IPO, comprising Rs 1,500 crore fresh shares and Rs 1,500 crore OFS. Promoter Ananya Birla owns nearly 60%, while Advent and Multiples plan to pare holdings. The microfinance lender reported Rs 21,0...
By Atmadip Ray, ET Bureau | Updated:
Ananya Birla, the chairperson and non-executive director, has a direct 26.48% holding, while her firm Antimatter Media holds another 33.49% in the microfinance lender.
Kolkata: Svatantra Microfin, India's second largest microfinance company in terms of gross portfolio, has sought permission for an initial public offer (IPO) worth Rs 3,000 crore.
Set up by Ananya Birla, daughter of billionaire businessman Kumar Mangalam Birla, the company has proposed to issue fresh shares for raising Rs 1,500 crore while the IPO includes another Rs 1500 crore of offer for sale (OFS) by existing investors, according to a draft prospectus filed with Securities & Exchange Board of India.
Existing investors such as Advent International and Multiples will look to pare about 70% of their respective holdings in Svatantra through the offer for sale. Advent's affiliated entity Violicina holds a 28% stake in the microfinance lender while Multiples holds 11.45% through three separate private equity funds, the prospectus showed.
Ananya Birla, the chairperson and non-executive director, has a direct 26.48% holding, while her firm Antimatter Media holds another 33.49% in the microfinance lender.
The draft red herring prospectus filed Thursday made Svatantra the second non-banking financial company-microfinance institution (NBFC-MFI) after Arohan Financial Services to propose an IPO this year. At present only five NBFC-MFIs are publicly listed.
Svatantra said that the proceeds from the fresh issue would be utilised towards augmenting its tier I capital base to meet its future capital requirements and finance business growth.
Its assets under management stood at Rs 21,093 crore as of March 31, 2026, second to CreditAccess Grameen's portfolio of Rs 30319 crore.
The lender's market share in total AUM grew to 6.37% at the end of March from 3.26% two years prior, helped by the merger of Chaitanya India Fin Credit into it effective March 21, 2026.
Its portfolio primarily comprises microfinance loans, complemented by secured lending products such as affordable housing finance and loans against property, offered through its subsidiary, Svatantra Micro Housing Finance Corporation.
Set up by Ananya Birla, daughter of billionaire businessman Kumar Mangalam Birla, the company has proposed to issue fresh shares for raising Rs 1,500 crore while the IPO includes another Rs 1500 crore of offer for sale (OFS) by existing investors, according to a draft prospectus filed with Securities & Exchange Board of India.
Existing investors such as Advent International and Multiples will look to pare about 70% of their respective holdings in Svatantra through the offer for sale. Advent's affiliated entity Violicina holds a 28% stake in the microfinance lender while Multiples holds 11.45% through three separate private equity funds, the prospectus showed.
Ananya Birla, the chairperson and non-executive director, has a direct 26.48% holding, while her firm Antimatter Media holds another 33.49% in the microfinance lender.
The draft red herring prospectus filed Thursday made Svatantra the second non-banking financial company-microfinance institution (NBFC-MFI) after Arohan Financial Services to propose an IPO this year. At present only five NBFC-MFIs are publicly listed.
Svatantra said that the proceeds from the fresh issue would be utilised towards augmenting its tier I capital base to meet its future capital requirements and finance business growth.
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Its assets under management stood at Rs 21,093 crore as of March 31, 2026, second to CreditAccess Grameen's portfolio of Rs 30319 crore.
The lender's market share in total AUM grew to 6.37% at the end of March from 3.26% two years prior, helped by the merger of Chaitanya India Fin Credit into it effective March 21, 2026.
Its portfolio primarily comprises microfinance loans, complemented by secured lending products such as affordable housing finance and loans against property, offered through its subsidiary, Svatantra Micro Housing Finance Corporation.
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