Dvara Kshetriya Gramin Financial Services Private Limited (Dvara KGFS), an NBFC under Dvara Trust that caters to rural towns across India, has acquired Varam Capital Private Limited an NBFC – MFI through a slump sale route.
The overall Assets under Management of the combined entity are at INR 760 crores.
Saraqua Legal Advisors acted for Dvara KGFS.
Agraa Legal Partner Abhijit Atur and Harini Subramani, an independent legal counsel advised Varam Capital.
Dvara KGFS has a presence in 33 districts with 221 branches and with over Eight Lakh enrolled customers spread across Tamil Nadu, Uttarakhand, Karnataka, and Odisha.
Varam Capital is present in Chhattisgarh and Tamil Nadu and has a total of 28 branches in both states across 12 districts with over one lakh customers.