Marwadi Chandarana Group to Acquire Majority Stake in TruCap Finance Limited for Approximately 1207 Crores

Marwadi Chandarana Intermediaries Brokers Private Limited, an entity of Marwadi Chandarana Group, has entered into definitive documents to acquire a majority stake in TruCap Finance Limited, a non-banking financial company. This investment will trigger an open offer under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The proposed transaction entails a capital infusion of approximately 1207 crores via a combination of preferential allotment of equity shares and convertible warrants, and a secondary purchase of shares from the existing promoter group of TruCap. Following the completion of this investment, The Acquirer will be classified as the new ‘Promoter’ of TruCap, while the existing promoter group’s stake will reduce to Zero. This transaction marks a significant milestone in TruCap’s journey and will result in a stronger balance sheet with formidable access to capital for sustainable growth in future years.