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.

Infrastructure Transport

16 Sep 2025

Metro Line 2B Phase 1 to Boost Realty in Mumbai’s Eastern Suburbs

Mumbai’s real estate sector is set for a major boost as Phase 1 of Metro Line 2B, between Mandale and Diamond Garden, nears completion. The Mumbai Metropolitan Region Development Authority (MMRDA) has confirmed that mandatory rectifications are done, and inspections by the Commissioner of Metro Railway Safety (CMRS) have been carried out. The 5.39-km stretch with five stations forms part of the larger DN Nagar–Mandale corridor, designed to ease congestion and improve east–west connectivity. Passenger operations are expected by December 2025, with the full line slated for 2027. ..

WattPower wins Best Inverter award at Global Solar Expo 2025

WattPower, a leading renewable energy solutions provider, has won the award for “Best Inverter in the Utility Segment” at the Global Solar Expo 2025. The recognition underscores the company’s commitment to delivering reliable, high-performance and future-ready solar solutions for large-scale projects. At the forefront of utility-scale solar, WattPower manufactures advanced string inverters that directly feed power into the Indian grid. With robust technology, high-quality components and comprehensive product lifecycle support, its solutions stand among the most sophisticated in the ..

Awfis delivers 67,000 sq. ft. innovation hub for eBay in Bengaluru

Awfis Space Solutions, India’s largest flexible workspace provider and the first publicly listed workspace solutions platform, has partnered with eBay to establish a 67,000 sq. ft. innovation hub at Embassy Tech Village, Bengaluru. The mandate covers design, build and management of the new office, which will act as a strategic hub supporting diverse functions and accelerating eBay’s AI-first commerce strategy. The centre will focus on artificial intelligence, engineering, product development and applied research, strengthening eBay’s growth in India. Embassy Tech Village, North Beng..