Private equity majors Advent International and Multiples on Monday committed to invest Rs 1,930 crore in Ananya Birla-promoted microlender Svatantra Microfin for an undisclosed stake. Birla, the daughter of billionaire Kumar Mangalam Birla, will continue to hold a "significant majority stake" in the microlender even after the infusion, a statement said, claiming this to be the largest investment in any microfinance institution. At present, Svatantra and its wholly-owned subsidiary Chaitanya have a team of 17,000 employees serving 42 lakh customers in over 20 states. The microfinance lender, which was founded in 2013, acquired Chaitanya India Fin Credit for Rs 1,479 crore in August last year. Advent's past investments include a bet on Aditya Birla Capital, the Kumar Mangalam Birla-led Aditya Birla Group's non-bank lending arm. In a statement, Ananya Birla termed the investment as a "momentous occasion" and added that it will propel it towards its goal of becoming the "most impactful Read The Rest at :