BlackSoil-Caspian Debt Merger Gets RBI Nod The merger is set to enhance BlackSoil's capabilities in supporting startups, MSMEs, and impact-driven businesses by expanding financial solutions for underserved enterprises requiring smaller credit sizes.
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BlackSoil Capital, a key player in alternative credit, and Caspian Debt, a leading impact investment lender, have secured approval from the Reserve Bank of India (RBI) for their merger. With only the National Company Law Tribunal (NCLT) clearance pending, the deal is nearing completion.
The merger is set to enhance BlackSoil's capabilities in supporting startups, MSMEs, and impact-driven businesses by expanding financial solutions for underserved enterprises requiring smaller credit sizes.
"With RBI's approval, we are closer to building a comprehensive alternative credit ecosystem in India," said Ankur Bansal, Managing Director, BlackSoil. "By integrating Caspian Debt's impact investment expertise with our financing solutions, we aim to drive financial inclusion and reach businesses often overlooked by traditional lenders."
S Viswanatha Prasad, Founder and Chairman of Caspian Debt, added, "This merger strengthens our ability to provide capital where it is needed most. BlackSoil's platform will accelerate our mission of enabling sustainable growth for impact-driven enterprises across India."
With a combined asset under management (AUM) exceeding INR 2,000 crore and total disbursements surpassing INR 10,000 crore across 450+ businesses, the merged entity will boost BlackSoil's focus on MSME lending and low-ticket financing. It will also expand its geographical footprint across Mumbai, Hyderabad, Delhi, and Bengaluru.
Founded in 2016, BlackSoil provides flexible credit solutions to growth-stage companies and MSMEs. Its portfolio includes MobiKwik, Upstox, Bluestone, OYO, Zetwerk, and Spinny. Since inception, it has disbursed over INR 7,800 crore to more than 270 companies.
Caspian Debt, founded in 2013, claims to have deployed INR 4,000 crore across 250+ institutions, focusing on climate tech and social enterprises.
The transaction is being advised by Haitong Securities India Pvt Ltd for BlackSoil and BOB Capital Markets Ltd for Caspian Debt.
