Archive · 20 Nov 2025
BlackSoil Capital, Caspian Debt Merge to Form $215M SME Lender
Two Indian non-bank lenders, BlackSoil Capital and Caspian Debt, have joined forces to create a bigger company that focuses on giving loans to small and medium-sized businesses (SMEs) and companies that want to make a positive impact.
The new company, BlackSoil Capital Pvt Ltd, is now one of the largest alternative credit lenders to SMEs in India.
It plans to grow quickly and help more businesses, especially in areas like agriculture, healthcare, and technology.
Merger completed after NCLT and RBI approvals
Combined entity: BlackSoil Capital Pvt Ltd
Assets under management: ₹1,900 crore
Cumulative disbursements: Nearly ₹14,000 crore
Targeting 25% CAGR growth
- Who
- BlackSoil Capital and Caspian Debt
- What
- Merged to form BlackSoil Capital Pvt Ltd
- When
- Merger completed on Oct 31, 2022
- Where
- India
- Why
- To provide timely, flexible credit to SMEs and impact-led enterprises
BlackSoil Capital's View
Caspian Debt's View
Merger Benefits
BlackSoil Capital's View
Addresses credit gap for SMEs and overlooked enterprises
Caspian Debt's View
Amplifies mission and extends greater support to businesses
- Assets Under Management
- ₹1,900 crore
- Cumulative Disbursements
- Nearly ₹14,000 crore
- Number of Companies Served
- 550
- New Borrowers Accessed
- Around 5,000
- Target CAGR
- 25%
