RBI clears BlackSoil-Caspian Debt merger, NCLT nod pending
The merger aims to expand BlackSoil’s reach in low-ticket-size financing and strengthen its presence in major Indian metros, including Mumbai, Hyderabad, Delhi, and Bengaluru.
BlackSoil Capital and Caspian Debt have secured approval from the Reserve Bank of India (RBI) for their merger, moving closer to creating a larger alternative credit platform.
The combined entity will boast assets under management (AUM) exceeding INR 2,000 crore and total disbursements of over Rs 10,000 crore to over 450 businesses. The merger aims to expand BlackSoil’s reach in low-ticket-size financing and strengthen its presence in major Indian metros, including Mumbai, Hyderabad, Delhi, and Bengaluru.
“With RBI’s approval, we are closer to building a comprehensive alternative credit ecosystem in India,” said Ankur Bansal, Managing Director of BlackSoil. “By integrating Caspian Debt’s expertise in impact investing with our innovative financing solutions, we will drive greater financial inclusion.”
“Joining forces with BlackSoil lets us accelerate our mission by leveraging their robust platform and expertise in alternative credit,” said S. Viswanatha Prasad, Founder & Chairman of Caspian Debt. “This merger strengthens our ability to provide capital where businesses need it most.”
BlackSoil, established in 2016, operates as an RBI-registered NBFC and SEBI-registered AIF, with a portfolio that includes firms like MobiKwik, OYO, and Udaan. Caspian Debt, founded in 2013, has deployed over Rs 4,000 crore in climate tech and social enterprises, backed by international investors such as FMO and Triodos.
The transaction is advised by Haitong Securities India for BlackSoil and BOB Capital Markets for Caspian Debt.