India, July 10 -- Venture debt firm BlackSoil has acquired rooftop solar loans provider Credit Fair in a slump sale. The transaction, completed on July 1 via a cash slump sale, saw BlackSoil acquire Credit Fair's solar financing business for a net consideration of about Rs.45 Cr, according to a disclosure made by ICRA.

Credit Fair had raised over $30 Mn in debt and equity since inception in 2018 from the likes of British International Investment, Symbiotics Group, State Bank of India and Northern Arc. However, the equity portion remained significantly smaller at Rs.48 Cr.

It was last valued at around Rs.180 Cr.

What Led To The Distress Sale?

Since inception, Credit Fair has been offering point-of-sale financing and affordable rooftop ...