Ananya Birla-backed Svatantra Microfin files Rs 3,000 crore IPO papers

There is a company in India called Svatantra Microfin that gives small loans to people who usually cannot get them from big banks.

These small loans are called microfinance loans.

The company was promoted by a businesswoman named Ananya Birla.

Svatantra is planning an IPO, which means selling shares of itself to the public for the first time, to raise about Rs 3,000 crore.

Half of that money will come from brand-new shares, and half will come from existing investors selling some of their shares.

The company says it will use the fresh money to become financially stronger and to give more loans to more people.

Last year, the company made a profit of about Rs 649 crore, about 46% more than the year before.

It says it is the second-biggest microfinance lender in India, serving more than 42 lakh borrowers.

Before the IPO, it may also sell some shares privately to raise an extra Rs 300 crore.

The two news reports disagree a little about exactly how many branches the company has, but both agree it is one of India's largest microfinance companies.