Ananya Birla has entered into an agreement worth Rs 1,479 crore to acquire the company owned by Sachin Bansal, the co-founder of Flipkart

Sachin Bansal is widely recognized as a co-founder of Flipkart, but not everyone may be aware of his role as the managing director of Navi Group, a financial services company. Following his $1 billion stake sale in Flipkart to Walmart, Bansal has recently concluded another significant transaction, this time partnering with entrepreneur and artist Ananya Birla. Ananya Birla’s venture, Svatantra Microfin, under her leadership, has undertaken a substantial Rs 1,479 crore ($179.6 million) acquisition of Chaitanya India Fin Credit, a subsidiary of Navi Group. This strategic move will propel Birla’s company into becoming the second-largest microfinance entity in India, boasting combined assets under management worth Rs 12,409 crore and a customer base exceeding 3.6 million active individuals.

Reflecting on the acquisition, Ananya Birla emphasized that “The combined entity will wield considerable outreach, facilitating the provision of a diverse spectrum of financial services to clients spanning various geographical regions.” It’s worth noting that Ananya Birla, the daughter of Indian business magnate Kumar Mangalam Birla, initiated her journey as a college dropout and founded Svatantra Microfin Private Limited at the age of 17.

The Rs 1,479 crore deal with Sachin Bansal marks the second and most substantial acquisition led by Ananya Birla’s firm. Their previous acquisition was Micro Housing Finance, acquired for Rs 300 crore. Svatantra Microfin specializes in extending microfinance opportunities to women in rural India, a mission that has garnered recognition and accolades for the young Birla.

Upon finalizing the deal, Ananya Birla took to Twitter to express her thoughts, stating, “This acquisition signifies a monumental stride for us in our continued efforts to provide financial services to the heartlands of India. Congratulations to my entire team.” She also shared a photograph of herself formalizing the agreement.

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