Emerging Entrepreneurs

CreditAccess Grameen buys Madura Microfin for ₹876 cr

| Updated on December 10, 2019 Published on December 10, 2019

CreditAccess Grameen, a Bengaluru-based microfinance company, has signed an agreement to buy Chennai-headquartered Madura Micro Finance Ltd for ₹876 crore.

On completion of the deal, Madura Micro will be merged with CreditAccess Grameen. The combined portfolio will be about ₹9,960 crore with about 37 lakh borrowers and more than 1,300 branches in 13 States and one Union Territory. This acquisition will give CreditAccess Grameen access to Madura Micro Finance’s large and unique client base, specifically in Tamil Nadu.

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Published on December 10, 2019
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