Violicina Limited (Violicina) is a special purpose vehicle incorporated in Cyprus. It does not have any operations in India.
Svatantra Microfin Private Limited (SMPL) is the ultimate holding company of the SMPL group. Chaitanya India Fin Credit Private Limited (CIFCPL) is a 100% subsidiary of SMPL. SMPL is a registered Non-Deposit Taking Systemically Important NBFC-MFI (Middle Layer). SMPL along with CIFCPL (its wholly owned subsidiary) is engaged in the business of providing microfinance loans and personal loans to the customers in rural/ semi urban areas.
Svatantra Micro Housing Finance Corporation Limited (SMHFCL) is a registered NonDeposit taking housing finance company NBFC-HFC (Middle Layer) and is in the business of providing secured housing loans to the financially excluded rural and urban low-income families, loans to individuals against property and loans to corporates/ institutions for construction/ real estate projects. The proposed combination relates to the acquisition of more than 25% shareholding (on a fully diluted basis) by Violicina in SMPL by way of a combination of primary subscription and secondary purchase. Further, Violicina will also acquire certain rights in SMHFCL (Proposed Combination).
Detailed order of the Commission will follow.
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