Svatantra Microfin Said to Prepare for $250 Million India IPO

Advent International LP-backed Svatantra Microfin Pvt. has met with bankers and lawyers as the first step in the process for an initial public offering that could raise as much as $250 million, according to people familiar with the matter.

The firm, founded by Ananya Birla, daughter of billionaire Kumar Mangalam Birla, has hired Kotak Mahindra Capital Co. and Axis Capital Ltd. as advisers to the potential share sale and likely to add more bankers later, the people said, asking not to be identified as the discussions are private.