Ananya Birla Signs Rs 1479 Crore Deal To Buy Flipkart Co Founder Sachin Bansal-s-Firm

sarkarijobfind.com Credit - Gettyimages By, Muhd. Faizan Date - 11/08/2023 J

Ananya Birla, the daughter of Indian billionaire Kumar Mangalam Birla, has signed a Rs 1479 crore deal to buy Flipkart co-founder Sachin Bansal's microfinance firm Chaitanya India Fin Credit.

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The deal is the second and largest acquisition by Birla's Svatantra Microfin, after it bought Micro Housing Finance for Rs 300 crore in 2022.

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The acquisition will make Svatantra the second-largest microfinance company in India, with a reach of over 3.6 million customers.

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It will also give Svatantra a strong presence in the southern and western states of India, where Chaitanya India Fin Credit is a major player.

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Bansal, who founded Flipkart in 2007 with Binny Bansal, is now the chairman of Navi Group, which owns Chaitanya India Fin Credit.

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He has been looking to sell the microfinance firm for some time, as he has been focusing on his other businesses in recent years.

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The deal is expected to close in the next few months.

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It is a major coup for Birla, who is seen as a rising star in the Indian business world.

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सेंसेक्स 366 अंक टूटा, निफ्टी 19,450 के नीचे हुआ बंद, पीएसयू बैंक शेयर चमके

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