Ananya Birla-Backed Svatantra Microfin Files DRHP For ₹3,000 Crore IPO

Svatantra Microfin Limited, an Ananya Birla-promoted non-banking financial company-microfinance institution (NBFC-MFI), filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on 13 August.

The company plans to raise up to ₹3,000 crore through an initial public offering (IPO), comprising a fresh issue of ₹1,500 crore and an offer for sale (OFS) of ₹1,500 crore.

The company will use the proceeds from the fresh issue to strengthen its Tier-I capital base, meet future capital requirements, and support its onward lending operations.

In the OFS, Advent International-controlled Violicina will sell shares worth ₹1,064.8 crore, while private equity firm Multiples Alternate Asset Management will offload shares worth ₹435.2 crore.

Svatantra Microfin may also raise up to ₹300 crore through a pre-IPO placement. If completed, the pre-IPO placement would reduce the fresh issue size by the amount raised through the placement.

Shareholding Structure

• Ananya Birla and her firm Antimatter Media: 59.97%.

• Violicina: 28.02%.

• Multiples Alternate Asset Management across three schemes: 11.45%.

About The Business

Svatantra Microfin was the first institution to receive the Reserve Bank of India’s NBFC-MFI licence, which was introduced in 2011. It is the second-largest microfinance non-banking financial company in India. The company provides microfinance loans and affordable housing finance through its subsidiary, Svatantra Micro Housing Finance Corporation.

As of March 2026, its consolidated assets under management (AUM) stood at ₹23,817.8 crore. AUM grew at a compound annual growth rate (CAGR) of 38.18% over the past three financial years. The company has 2,253 branches across 23 states and union territories. It serves around 43.1 lakh borrowers across India.

Financial Performance

The company’s financial performance also showed strong growth in FY26, with both net profit and net interest income rising during the year.

• FY26 net profit: ₹649.4 crore, up 45.8% from ₹445.4 crore in FY25.

• FY26 net interest income: ₹2,496.5 crore, up 30% from ₹1,920.3 crore in FY25.

Axis Capital, Avendus Capital, IIFL Capital Services, Kotak Mahindra Capital and SBI Capital Markets are the book-running lead managers.

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