Marwadi Group to Acquire 75 per cent Stake in TruCap Finance

27 May 2025 CW Team

Marwadi Chandarana Intermediaries Brokers Private Limited, part of the Marwadi Chandarana Group (MCG), has signed definitive agreements to acquire a 75 per cent stake in TruCap Finance Limited, a non-banking financial company. The deal will trigger an open offer under SEBI’s Substantial Acquisition of Shares and Takeovers Regulations, 2011.

MCG, a diversified Indian conglomerate with interests in capital markets, education, and renewable energy, has a combined net worth of approximately Rs 25 billion. The transaction includes a capital infusion of Rs 2.07 billion via preferential allotment of equity shares and convertible warrants, alongside a secondary purchase of 36.8 million shares from TruCap’s existing promoter group. Following completion, MCG will become the new promoter, and the current promoters will exit fully.

The deal significantly strengthens TruCap’s balance sheet and capital base, positioning the company for sustained growth. Operating across 117 branches in Tier 2 to Tier 4 towns, TruCap plans to enhance its footprint in gold loans, MSME lending, and electric vehicle financing.

Ketan Marwadi and Jitubhai Chandarana, founders of MCG, noted that the acquisition would unlock long-term value for all stakeholders and improve TruCap’s credit profile.

Since launching lending operations in 2018, TruCap has disbursed over Rs 55.5 billion to nearly 446,450 customers. As of March 2025, the company has an active borrower base of approximately 65,640 and has secured funding partnerships with more than 40 banks and financial institutions over the past five years.

Resources

09 Mar 2026

Haworth India Hosts Women’s Leadership Panel Series

Haworth India marked International Women’s Day by hosting a leadership roundtable series titled ‘Give to Gain’, bringing together senior women leaders from architecture and design firms, corporates and project management consultancies. The series has been conducted in Delhi and Mumbai, with upcoming sessions scheduled in Bengaluru and Hyderabad on 27 March 2026. Structured as moderated panel discussions followed by audience interaction, the initiative examined the business impact of women’s leadership and the role of inclusive workplaces in supporting professional growth. Manish Khan..

Max Estates Secures RERA For Max One Project

Max Estates has secured RERA approval (UPRERA No.: UPRERAPRJ9759) for its Max One development around Max Towers in Sector 16B, Noida, bringing renewed progress to a project previously stalled following the insolvency of its earlier developer. Spread across around 10 acres with an estimated development potential of about 2.5 million sq ft, Max One is planned as an integrated mixed-use campus combining serviced residences, premium offices, retail spaces and a private club. The project is expected to generate total sales potential of about Rs 20 billion along with an estimated annuity rental inc..

Hindware Introduces Starc Smart Wall Mount Toilet

Hindware has introduced the Starc Smart Wall-Mount Toilet under its Hindware Italian Collection, designed to combine automation, hygiene and contemporary bathroom aesthetics. The model features automatic flushing, sensor-based seat opening and closing, and remote-controlled functions. It also includes an oscillating water spray and warm air dryer for cleaning, along with a self-cleaning nozzle designed to maintain hygiene. Additional features include adjustable heated seating, customisable water temperature and pressure settings, a foot-touch flush system and an LCD control interface. The wa..