Once Valued At ₹180 Cr, Why Cred Fair Sold For ₹45 Cr

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 ₹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.