Dhruva Capital To Merge With Vector Finance

19 Sep 2025 CW Team

Dhruva Capital Services Limited, a non-banking financial company (NBFC) engaged in investment and financing, has announced a strategic merger with Vector Finance Private Limited, marking its foray into the microfinance business. Currently, Dhruva offers business loans, loans against property, vehicle and equipment finance, invoice discounting, and construction finance.

The board of Dhruva Capital has approved the merger, which will be subject to approvals from the National Company Law Tribunal and other competent authorities, along with shareholder and creditor consent.

Vector Finance, with Assets under Management (AUM) of Rs 3.9 billion as of 31 March 2025, operates across six states, mainly in eastern and north-eastern India. In FY25, it disbursed Rs 2.2 billion to 43,274 customers, while its revenue from operations stood at Rs 271.6 million.

Rahul Johri, Chairman of Vector Finance and a veteran banker with over three decades of experience at Bandhan Bank, DBS Bank, Standard Chartered, and Barclays, said the merger would create synergies, lower borrowing costs, provide access to additional capital, and expand the product suite. “This integration will strengthen our ability to serve customers, enhance operational efficiency, and deliver affordable finance,” he added.

Shreeram Bagla, Managing Director of Dhruva Capital, described the deal as a milestone in the company’s growth journey. “By combining our expertise with Vector’s strong grassroots presence, we aim to drive inclusive growth, empower underserved communities, and expand into underpenetrated markets,” he said.

According to SIDBI data, the Indian microfinance industry had an outstanding portfolio of Rs 33.5 trillion as of 31 March 2025, with 111 million active loans. NBFC-MFIs contributed the largest share.

Infrastructure Energy

19 Sep 2025

J&K CM Rules Out Power Privatisation, Focuses on Sector Reform

Jammu and Kashmir Chief Minister Omar Abdullah has dismissed speculation regarding privatisation of electricity in the Union Territory, emphasising that his priority is to strengthen and reform the power sector.“We are not discussing privatisation. By reducing losses, improving billing efficiency, and enhancing revenue, there will be no need for it. My vision is to strengthen and reform the power sector in J&K,” Abdullah stated.He addressed the gathering at the 58th Engineers’ Day at SKICC on Monday evening, an event honouring Bharat Ratna Sir M Visvesvaraya for his pioneering contri..

Mumbai’s Sassoon Dock to Get Tech-Driven Modernisation with Finland

The Maharashtra government, in collaboration with Finland, will modernise Mumbai’s historic Sassoon Dock using advanced technology, state minister Nitesh Rane announced on Wednesday.Rane met a delegation of Finnish officials and representatives of Finnish companies at the dock to discuss strategic plans for upgrading the facility in south Mumbai, according to an official statement.Built in the 19th century, Sassoon Dock is one of Mumbai’s oldest and busiest fishing harbours. Operations currently exceed its original capacity, raising concerns over hygiene, odour, fish handling standards, an..

Agarwal Industrial Wins Rs 3.3 Billion IOCL Bitumen Tender

Agarwal Industrial Corporation rose 3.84 per cent to Rs 945.65 after announcing it had secured a prestigious tender from Indian Oil Corporation (IOCL) worth Rs 3.3 billion.In a regulatory filing during market hours, the company confirmed it had won the tender to supply Bulk Bitumen (VG-30 and VG-40 grades) to IOCL’s Kakinada locations.The firm quantity under the award totals around 60,500 tonnes across 11 parcels, while the optional quantity is approximately 33,000 tonnes across six parcels. This brings the total awarded quantity to roughly 93,500 tonnes. At current market prices, the firm o..