Cyril Amarchand Mangaldas provided legal counsel to Multiples in its planned investment in SVATANTRA MICROFIN PRIVATE LIMITED, a non-banking financial company and microfinance institution led by Ananya Birla. Multiples, in collaboration with Advent International, has signed definitive agreements for a joint investment totaling around INR 1,930 crores in the Company.
This transaction marks the most substantial private equity investment in India’s microfinance industry.
The team handling the transaction includes Aditi Manchanda, Srabanee Ghosh, Adhiraj Gupta, Subhashini Narayanan, Sudarshan Srikanth, Utkarsh Roy, Maya Venkiteswaran, and Jeezan Pakhliwal.
Kirthi Srinivas, Mohini Parghi, and Keshab Roy Choudhury provided advice on competition law matters related to the transaction.
Svatantra is a forward-thinking microfinance organization that provides unique banking solutions. We are dedicated to reaching the unbanked population by utilizing technological innovations. Our goal is to promote entrepreneurship in areas where traditional banking services are inaccessible. We offer a comprehensive range of financial and non-financial services, with a primary focus on micro-credit. Our core values include entrepreneurship, transparency, and innovative disruption. We take pride in being the first microfinance institution to receive the Non-Banking Financial Company – Microfinance Institution (NBFC-MFI) license from the Reserve Bank of India. Additionally, we hold an A+ rating from CRISIL and an M1 grade from ICRA. We prioritize innovation and technology to streamline our business processes and enhance our product offerings. From the outset, we have pioneered 100% cashless disbursements. Our proprietary app “SAATHI” has been recognized by The Economic Times BFSI Innovation Tribe Summit & Awards 2020 as one of the most innovative initiatives in the microfinance sector.
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