Capital India Finance Sells RemitX Forex Assets to Niyo, Focuses on MSME Lending
Capital India Finance Limited (CIFL) will transfer its RemitX Forex assets to Niyo. This move sharpens CIFL's focus on its MSME lending business. In Q1 FY27, CIFL's total income rose 32% YoY to ₹69.53 crore, with disbursements up 36% YoY and AUM up 20% YoY. The company had ₹1,227.37 crore AUM in FY26.
The divestment of a division and a renewed focus on core lending are significant strategic shifts that could impact the company's future growth and profitability, warranting a medium impact assessment.
The company is strategically divesting a non-core asset to focus on its primary growth engine, the lending business, which is showing strong growth metrics. This indicates a positive strategic direction.
Capital India Finance Limited (CIFL) has announced that its Board has approved the transfer of certain assets of its Forex division, operating under the RemitX brand, to Kanji Forex Private Limited, a part of Niyo. This transaction is subject to applicable regulatory and other requisite approvals.
This divestment is a strategic move by CIFL to sharpen its focus on its core lending business, which is considered the Company’s primary growth engine. This follows the earlier divestment of Capital India Home Loans Limited in FY26 and is another step in simplifying CIFL’s portfolio and concentrating resources on its lending operations.
Keshav Porwal, MD of CIFL, stated that this transaction allows the company to focus on its tech-enabled lending franchise, leveraging its strong capital position, expanding distribution network, and growing momentum in lending. RemitX has built a presence across 32 locations in over 16 states over the past six years.
Amit Talwar, CEO of Niyo Forex, noted that RemitX brings a branch network, partner relationships, and an experienced team to Niyo, complementing Niyo's investment in its core cross-border business. Niyo is a travel fintech platform that simplifies international banking and cross-border payments.
CIFL's lending business has shown strong performance, with Q1 FY27 standalone total income increasing by 32% YoY to ₹69.53 crore. Disbursements grew 36% YoY, and Assets Under Management (AUM) expanded by approximately 20% YoY. The company maintained a strong Capital Adequacy Ratio of 43.58% as of June 30, 2026. CIFL's AUM grew 22% YoY to ₹1,227.37 crore in FY26, with disbursements increasing 62% YoY to ₹753.54 crore. The company has also expanded its distribution network from 29 to 46 branches across nine states.
Capital India Finance Limited is a Middle Layer non-deposit taking NBFC focused on secured MSME and retail lending solutions. As of March 31, 2026, the Company reported AUM of ₹1,227.37 crore and a Capital Adequacy Ratio of 40.99%.
A plain-language summary of a public exchange filing by Capital India Finance Limited. Read the original for the full detail.