BlackSoil Capital, an alternative credit platform, and impact investment lender Caspian Debt have received the approval from the Reserve Bank of India (RBI) for their merger. 

This marks a crucial step toward finalisation of the merger, with only the National Company Law Tribunal (NCLT) approval remaining.

Once completed, the merger will enhance BlackSoil's ability to support startups, MSMEs, and impact-driven enterprises while expanding its financial solutions for underserved businesses that require smaller credit sizes, the company said in a statement.

With a combined AUM exceeding Rs 2,000 crore and total disbursements surpassing Rs 10,000 crore across 450+ businesses, the merger strengthens BlackSoil's focus on MSME lending and low-ticket-size financing. 

BlackSoil said it will also increase its geographical footprint across major metros, including Mumbai, Hyderabad, Delhi, and Bengaluru, through this merger.

"By integrating Caspian Debt's expertise in impact investing with our innovative financing solutions, we will drive greater financial inclusion and extend our reach to businesses often underserved by traditional lenders," said Ankur Bansal, managing director, BlackSoil.

S. Viswanatha Prasad, founder and chairman of Caspian Debt, added, "This merger strengthens our ability to provide capital where it is needed the most, ensuring sustainable growth for impact-driven enterprises across India."

Established in 2016, BlackSoil Group comprises an RBI-registered systemically important NBFC and a SEBI-registered AIF, providing credit solutions to growth-stage companies, financial institutions, and supply chain financing to MSMEs. Its portfolio includes high-growth enterprises such as MobiKwik, Ideaforge, Upstox, Bluestone, OYO, Udaan, Zetwerk, Spinny, and Purplle. Since its inception, BlackSoil has disbursed over Rs 7,800 crore across more than 270 companies.

Founded in 2013, Caspian Debt has deployed over Rs 4,000 crore to 250+ institutions, focusing on climate tech, social enterprises, and sustainable businesses. It is backed by international impact investors, including FMO, Gray Matters Capital, and Triodos Investment Management.