BlackSoil Capital and Caspian Debt have completed their long-awaited merger effective October 31, following approvals from the National Company Law Tribunal (Mumbai Bench) and the Reserve Bank of India, creating an alternative credit NBFC focused on SMEs and impact-driven enterprise.

The combined entity, now operating under the name BlackSoil Capital Private Limited from November 1, will manage assets worth around Rs 1,900 crore ($215 million), said a press release dated November 19. Together, the institutions have cumulatively disbursed nearly Rs 14,000 crore to more than 550 companies.

By integrating BlackSoil’s new-economy lending expertise with Caspian’s deep impact-first portfolio, the company aims to build a full-stack platform serving enterprises from early-stage innovators to mid

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