Advent-backed Svatantra Microfin files for $315 million IPO

Svatantra Microfin has filed for an initial public offering worth thirty billion rupees. Existing investors Advent International and Multiples are offloading shares worth fifteen billion rupees. The microfinance company primarily provides loans to women in rural areas. Svatantra reported a forty-five point eight percent jump in net profit for the year. Proceeds from the IPO will boost the company's Tier I capital base.