Key Transaction Details

Capital India Finance Limited's Board has approved the transfer of certain assets of its Forex division (operating under the RemitX brand) to Kanji Forex Private Limited. The transaction is subject to terms and conditions of the agreement and receipt of applicable regulatory and other requisite approvals. Kanji Forex Private Limited is identified as part of Niyo, a travel fintech platform.

Strategic Rationale

The transaction represents part of CIFL's strategic realignment to sharpen focus on its core lending business, which remains the Company's primary growth engine. This follows the previous divestment of Capital India Home Loans Limited in FY26, representing another step in simplifying CIFL's portfolio and concentrating resources on lending operations.

Management Commentary

Keshav Porwal, Managing Director of CIFL, stated: "Over the past few years, we have been steadily reshaping Capital India around businesses where we see the strongest long-term opportunity and ability to create sustainable value. This transaction is another step in that journey and will allow us to sharpen our focus on our tech enabled lending franchise. With a strong capital position, an expanding distribution network and growing momentum in lending, we believe we are well positioned to deploy our resources and management bandwidth towards scaling this business in a disciplined manner."

RemitX Business Profile

RemitX has built a presence across 32 locations in more than 16 states over the past six years, creating an established distribution network for its Forex and cross-border services.

Counterparty Commentary

Amit Talwar, CEO of Niyo Forex, commented: "RemitX brings three things for Niyo that cannot be built quickly: a branch network that reaches customers where they live, partner relationships and a team that has been running this business together for years. Cross-border is a core business for Niyo, and we are investing in it accordingly."

Financial Performance Highlights

Q1 FY27 Performance:

  • Standalone total income: ₹69.53 crore (32% YoY increase)
  • Disbursements: 36% YoY growth
  • AUM: Approximately 20% YoY expansion
  • Capital Adequacy Ratio: 43.58% as of June 30, 2026

FY26 Performance:

  • AUM: ₹1,227.37 crore (22% YoY growth)
  • Disbursements: ₹753.54 crore (62% YoY increase)
  • Capital Adequacy Ratio: 40.99% as of March 31, 2026

Operational Expansion

The Company has strengthened its distribution network, expanding from 29 locations to 46 branches across nine states.

Company Background

Capital India Finance Limited is a listed, Middle Layer non-deposit taking NBFC focused on providing secured MSME and retail lending solutions. The Company offers customised credit solutions to micro, small and medium enterprises (MSMEs), professionals and retail customers, leveraging a unique phygital model and deep underwriting expertise.