Ananya Birla’s Svatantra Takes Over Sachin Bansal-Backed Chaitanya
Summary
With assets under management totalling INR 13,000 Cr, this acquisition positions Svatantra as the second-largest NBFC-MFI, following CreditAccess Grameen. With assets under management totalling INR 13,000 Cr, this acquisition positions Svatantra as the second-largest NBFC-MFI, following CreditAccess Grameen. Svatantra is an institution that directly disburses loans into customers’ bank accounts, charging an annual interest rate ranging from 19.75% to 24.25% for microloans. Bansal, Flipkart’s co-founder, acquired Chaitanya Rural Intermediation Development Services (CRIDS) through BAC Acquisitions (now Navi Technologies) in 2019, marking one of his significant post-Flipkart deals. CRIDS was later rebranded as Chaitanya India Fin Credit, contributing to Navi obtaining an NBFC license.