Ananya Birla-led Svatantra Microfin files papers for ₹3,000 crore IPO
The IPO comprises a fresh issue of shares worth ₹1,500 crore and an Offer For Sale (OFS) of an equal amount, according to the draft red herring prospectus (DRHP) filed on Thursday.
Svatantra Microfin Ltd, led by Ananya Birla, has initiated the preliminary process for an Initial Public Offering (IPO) to raise ₹3,000 crore. The IPO involves a new share issuance worth ₹1,500 crore and an Offer For Sale (OFS) of an equal amount. Existing investors Multiples Private Equity Funds and Violicina Limited will participate in the OFS route.
Funds raised will be used to bolster the company's Tier-I capital base, ensuring it can meet future capital needs, including supporting growth and lending operations. Ananya Birla, the chairperson and non-executive director, heads Svatantra Microfin, an NBFC-MFI that was the first to obtain an NBFC-MFI license from the Reserve Bank of India in 2011.
The company has experienced substantial growth in its microfinance Assets Under Management (AUM), increasing from ₹14,438 crore in March 2024 to ₹21,093 crore in March 2026, with a CAGR of 21%. Svatantra Microfin holds a significant share of India's total microfinance AUM, growing from 3.26% in 2024 to 6.37% in 2026. The company maintains a diversified loan portfolio, with no single district or state dominating its assets.
Its asset quality has shown improvement, with the gross Stage-3 ratio declining to 1.19% in fiscal 2026 from 2.24% in fiscal 2025. Svatantra Microfin's expansion was further solidified with the merger of Chaitanya India Fin Credit Pvt Ltd, which came into effect on March 21, 2026, expanding its presence in southern India. As of March 31, 2026, the company operates 2,123 branches in 20 states and 394 districts, employing 24,594 individuals, including 15,575 field officers.
The microfinance business caters to 42.66 lakh active borrowers. The book-running lead managers for the IPO include Axis Capital, Avendus Capital, IIFL Capital Services, Kotak Mahindra Capital Company, and SBI Capital Markets.
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