# Svatantra Microfin Limited: IPO analysis > Svatantra Microfin Limited (CIN U74120MH2012PLC227069) has filed a Draft Red Herring Prospectus with SEBI for an IPO comprising a fresh issue of ₹1,500 Cr and an offer for sale of ₹1,500 Cr. In FY26 it reported revenue of ₹4,121 Cr (+19.8% on FY25) and a net profit of ₹649 Cr. Promoters hold 60.0% before the IPO. Our fact-check of its claims found 1 medium or high concern across 45 claims checked. - Page: https://ipo.innerkore.com/company/U74120MH2012PLC227069/svatantra-microfin-limited/ - CIN: U74120MH2012PLC227069 - Last updated: 17 Aug 2026 ## Key facts - **Company:** Svatantra Microfin Limited - **CIN:** U74120MH2012PLC227069 - **Filing stage:** DRHP - **Latest SEBI filing:** 17 Aug 2026 - **Fresh issue:** ₹1,500 Cr - **Offer for sale:** ₹1,500 Cr - **Listing on:** BSE, NSE - **Revenue FY26:** ₹4,121 Cr - **Revenue growth:** +19.8% - **Net profit FY26:** ₹649 Cr - **Revenue CAGR FY24 to FY26:** 30.3% - **Promoter holding (pre-IPO):** 60.0% - **Lead managers:** Axis Capital Limited, Avendus Capital Private Limited, IIFL Capital Services Limited, IIFL Securities Limited, Kotak Mahindra Capital Company Limited, SBI Capital Markets Limited - **Registrar:** MUFG Intime India Private Limited - **Fact-check flags:** 0 high, 1 medium, 0 low ## Key signals (read from the filing; not investment advice) - **Growth** (looks fine): 30.3% a year. Sales FY24 to FY26; latest year +19.8%. - **Profitability** (looks fine): 15.8% net margin. FY26; operating margin slipping. - **Debt** (concern): 3.93x equity. ₹18,613 crore borrowed at the end of FY26. - **Profit into cash** (concern): -830% of profit. Operations brought in ₹-5,393 crore against ₹649 crore of profit in FY26. - **One-off income** (looks fine): 8% of profit. Other and one-off income is 8% of pre-tax profit. - **Where the money goes** (look closer): 50% for sale. 50% is new shares issued by the company. - **Red flags** (look closer): 1 to review. 45 claims checked: 0 high, 1 medium concern. ## Financial snapshot (₹ crore unless stated; consolidated) | | FY24 | FY25 | FY26 | |---|---:|---:|---:| | Sales | 2,429 | 3,441 | 4,121 | | Sales growth | – | 41.7% | 19.8% | | Operating profit | 1,400 | 1,800 | 2,065 | | Operating margin | 57.7% | 52.3% | 50.1% | | Net profit | 345 | 445 | 649 | | Net margin | 14.2% | 12.9% | 15.8% | | Net worth | 2,370 | 3,570 | 4,738 | | Borrowings | 12,917 | 11,988 | 18,613 | | Return on equity | 14.6% | 12.5% | 13.7% | ## Fact-checked claims - **MEDIUM** (PromoterBackground): Antimatter Media Private Limited was incorporated on September 29, 2016, as a private limited company under the Companies Act, 2013.. One search result points to information about 'Antimatter Media Private Limited' on The Economic Times, but it states that no signatories or directors are registered for the company. No information in the provided search results confirms or denies the incorporation date mentioned in the DRHP claim. - **NONE** (PromoterBackground): Antimatter is engaged in the business of creating audio visual contents and online streaming.. The search results do not contain any information that corroborates or contradicts the claim that Svatantra Microfin Limited is engaged in creating audio visual contents and online streaming. The search results primarily relate to regulatory actions against microfinance institutions and general market news. - **NONE** (PromoterBackground): Ananyashree Birla was recognized for her role in women empowerment and promoting self-reliance by the Chief Minister of Maharashtra, Shri Devendra Fadnavis at the 67th anniversary of Navbharat Times.. The provided search results do not contain any information corroborating or contradicting the claim regarding Ananyashree Birla being recognized by the Chief Minister of Maharashtra for women empowerment. The results primarily mention regulatory actions against microfinance institutions and news about Svatantra Microfin's public listing and amalgamation. - **NONE** (SubsidiaryPerformance): Certain directors of CIFCPL had no relationship with Navi Finserv Limited and Navi Technologies as on the date of the Draft Red Herring Prospectus.. No web search results were found to corroborate, contradict, update, or provide any information regarding the claim that certain directors of CIFCPL had no relationship with Navi Finserv Limited and Navi Technologies as of the DRHP date. - **NONE** (RegulatoryAction): The company must ensure that all steps for the completion of necessary formalities for listing and commencement of trading of Equity Shares are taken within three Working Days from the Bid/Offer Closing Date or as prescribed by SEBI.. No web search results were found to corroborate, contradict, update, or provide any information regarding the claim about the timeline for completing formalities for listing and trading of equity shares. - **NONE** (RegulatoryAction): If the company is a PFIC, U.S. holders may be subject to adverse tax consequences, including allocation of gain or loss ratably over the holding period.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim about U.S. holders and adverse tax consequences related to PFIC status. - **NONE** (RegulatoryAction): The Company is eligible for the Offer based on criteria including net tangible assets, monetary assets, operating profit, and net worth as specified in the SEBI ICDR Regulations.. No web search results were found to corroborate, contradict, update, or provide any information regarding the claim that the company is eligible for an offer based on net tangible assets, monetary assets, operating profit, and net worth as specified in the SEBI ICDR Regulations. - **NONE** (RegulatoryAction): Selling Shareholders confirm that their respective portion of the Offered Shares are eligible for sale under Regulation 8 of the SEBI ICDR Regulations and have held the shares for at least one year prior to the filing date.. No web search results were found to corroborate, contradict, update, or provide any information regarding the claim made in the Draft Red Herring Prospectus. - **NONE** (LitigationStatus): 316 complaints were filed under various IPC sections alleging offenses relating to theft, robbery, dacoity, criminal breach of trust, criminal conspiracy, and cheating, with an aggregate amount of ₹2.07 Crore pending.. No current web search results were found to corroborate, contradict, update, or provide any new information regarding the claim about 316 complaints filed under various IPC sections against Svatantra Microfin Limited. - **NONE** (LitigationStatus): 31 recovery proceedings were initiated against various parties for the dishonour of payment instructions under Section 138 of the Negotiable Instruments Act, 1881, with an aggregate amount of approximately ₹36.40 Lakh pending.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim about 31 recovery proceedings initiated under Section 138 of the Negotiable Instruments Act against Svatantra Microfin Limited. - **NONE** (LitigationStatus): A first information report was filed against lenders alleging offenses under Sections 323, 422, 427, 452, and 504 of the Indian Penal Code, which is currently pending.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the first information report filed against lenders by Svatantra Microfin Limited under the specified sections of the Indian Penal Code. - **NONE** (LitigationStatus): A first information report was filed against employees of CIFCPL and other individuals alleging offenses under Sections 351(2) and 352 of the BNS, which is currently pending.. No web search results were found to corroborate, contradict, update, or provide any information regarding the claim about a first information report filed against employees of CIFCPL and others under Sections 351(2) and 352 of the BNS. ## Common questions ### How big is the Svatantra Microfin Limited IPO? Svatantra Microfin Limited's IPO comprises a fresh issue of ₹1,500 Cr and an offer for sale of ₹1,500 Cr, according to its Draft Red Herring Prospectus. The price band has not been announced yet: draft filings leave it blank and it is set in the Red Herring Prospectus. ### What are Svatantra Microfin Limited's revenue and profit? Svatantra Microfin Limited reported revenue from operations of ₹4,121 Cr in FY26, +19.8% versus FY25. Net profit was ₹649 Cr (FY25: ₹445 Cr). Revenue grew at a compound rate of 30.3% a year from FY24 to FY26. Figures are read from the DRHP, as printed there. ### How much do promoters own in Svatantra Microfin Limited? Promoters hold 60.0% of Svatantra Microfin Limited before the IPO. ### What are the red flags in Svatantra Microfin Limited's DRHP? We fact-checked 45 claims from the filing against the open web: 0 raised a high concern, 1 medium and 0 low. The most notable: One search result points to information about 'Antimatter Media Private Limited' on The Economic Times, but it states that no signatories or directors are… This is an automated screen, not a verdict; each finding links to its sources. ### What does Svatantra Microfin Limited do? The due diligence surrounding the IPO of Svatantra Microfin Limited raises a major red flag: there is zero corroborating evidence to confirm that certain directors of CIFCPL had no prior relationship with Navi Finserv Limited or Navi Technologies as of the DRHP filing date. ### Who manages the Svatantra Microfin Limited IPO? Book running lead managers: Axis Capital Limited, Avendus Capital Private Limited, IIFL Capital Services Limited, IIFL Securities Limited, Kotak Mahindra Capital Company Limited, SBI Capital Markets Limited. Registrar to the offer: MUFG Intime India Private Limited. Shares are proposed to list on BSE and NSE. ### Where can I read the original Svatantra Microfin Limited IPO documents? All 2 filings for Svatantra Microfin Limited (DAP, DRHP) are listed on this page with links to the original PDFs on SEBI's website. Every page reference cites the exact page of the source document. ## Source documents - [Svatantra Microfin Limited - DRHP](https://www.sebi.gov.in/sebi_data/commondocs/aug-2026/Svatantra%20Microfin%20Limited%20%20-%20DAP_p.pdf) (Abridged prospectus (DAP), filed 17 Aug 2026) - [Svatantra Microfin Limited - DRHP](https://www.sebi.gov.in/sebi_data/attachdocs/aug-2026/1787135219223.pdf) (Draft Red Herring Prospectus, filed 17 Aug 2026) --- Source: InnerKore IPO (https://ipo.innerkore.com/). Read from public SEBI filings by automated extraction; check the linked documents. Not investment advice.