TruCap Finance Ltd to be Acquired by Marwadi Chandarana Group, Boosting Financial Strength and Credit Profile

TruCap Finance Limited, a lender to MSMEs with a focus on Sustainability and Financial Inclusion, has entered into definitive agreements with Marwadi Chandarana Intermediaries Brokers Pvt. Ltd., part of Marwadi Chandarana Group (MCG), for the acquisition of 75% stake in TruCap. This acquisition involves INR 2,070 Mn capital infusion into TruCap and purchase of 36.8 Mn shares from existing promoters. Post transaction and regulatory approvals, the existing promoter stake will reduce to zero, making MCG the new Promoter. This investment is expected to improve TruCap's credit profile and ratings due to the capital infusion from the MCG Group. Post infusion, TruCap’s Capital Adequacy will be north of 50%.