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Marwadi Chandarana Intermediaries Brokers Private Limited, part of the Marwadi Chandarana Group (MCG), has signed definitive agreements to acquire a 75 per cent stake in TruCap Finance Limited, a non-banking financial company. The deal will trigger an open offer under SEBI’s Substantial Acquisition of Shares and Takeovers Regulations, 2011.MCG, a diversified Indian conglomerate with interests in capital markets, education, and renewable energy, has a combined net worth of approximately Rs 25 billion. The transaction includes a capital infusion of Rs 2.07 billion via preferential allotment of equity shares and convertible warrants, alongside a secondary purchase of 36.8 million shares from TruCap’s existing promoter group. Following completion, MCG will become the new promoter, and the current promoters will exit fully.The deal significantly strengthens TruCap’s balance sheet and capital base, positioning the company for sustained growth. Operating across 117 branches in Tier 2 to Tier 4 towns, TruCap plans to enhance its footprint in gold loans, MSME lending, and electric vehicle financing.Ketan Marwadi and Jitubhai Chandarana, founders of MCG, noted that the acquisition would unlock long-term value for all stakeholders and improve TruCap’s credit profile.Since launching lending operations in 2018, TruCap has disbursed over Rs 55.5 billion to nearly 446,450 customers. As of March 2025, the company has an active borrower base of approximately 65,640 and has secured funding partnerships with more than 40 banks and financial institutions over the past five years.