Svatantra Microfin and Chaitanya India Fin Credit Complete Amalgamation; Expands NBFC-MFI Scale

Svatantra Microfin Pvt Ltd has completed its amalgamation with Chaitanya India Fin Credit Pvt Ltd (CIFCPL) and Svatantra Holding Pvt Ltd, following approval from the National Company Law Tribunal (NCLT), Mumbai Bench. The order approving the scheme was dated March 12, as per PTI reports. 

The merger was finalised after receiving necessary clearances from the Reserve Bank of India (RBI), the Competition Commission of India (CCI), and the BSE. The company confirmed the completion of the process in a statement issued on Monday. 

Scale Following Integration 

After the amalgamation, the combined entity manages assets under management (AUM) of about ₹22,000 crore. This includes the loan book of its wholly owned housing finance subsidiary. 

The consolidation places Svatantra among the larger non-banking financial company–microfinance institutions (NBFC-MFIs) in the country by size.  

The transaction brings together the balance sheets and lending operations of both entities under a single structure. 

Branch Network and Workforce 

The merged entity operates a network of around 2,200 branches across 20 states. Its workforce stands at approximately 25,000 employees. 

The customer base has expanded to nearly 5 million borrowers across India. The integration increases reach in both existing and new geographies, particularly in semi-urban and rural regions where microfinance activity remains concentrated. 

Background of Acquisition 

Chaitanya India Fin Credit was acquired in November 2023 from Navi Group. The amalgamation follows the earlier acquisition and completes the integration of operations. 

The process aligns legal and operational structures, enabling unified reporting and management of lending activities across segments. 

Business Alignment 

The combined entity will continue to offer microfinance loans along with housing finance through its subsidiary. The integration brings together branch-led distribution with technology-driven processes already in place at Svatantra. 

This structure allows the company to operate across multiple lending categories while maintaining a single consolidated framework. 

Read More: Anil Ambani Proposes Staggered Loan Repayment as Supreme Court Flags Probe Concerns! 

Conclusion 

With the merger completed, the entity operates with a larger balance sheet, wider branch network, and an expanded customer base across several states. 

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