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L&T Finance Ltd. Completes the Acquisition of Paul Merchants Finance’s Gold Loan Business
Mumbai (Maharashtra) [India], June 9: L&T Finance Ltd. (LTF), one of the leading Non-Banking Financial Companies (NBFCs) in the country, announced the completion of the transfer of the gold loan business of Paul Merchants Finance Private Ltd. (PMFL), a wholly owned subsidiary of Paul Merchants Ltd., to LTF. The acquisition includes PMFL's 130 branches, approximately 700 employees, and business transfer of its gold loan book size of Rs. 1,350 Crore to LTF.
cityfalcon.com·11mo ago
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L&T Finance buys gold loan ops of Paul Merchants for 537 cr
The proposed acquisition includes a fully operational network and security centre for round-the-clock remote monitoring of all gold loan branches, strategically located in less penetrated markets like Chandigarh, Punjab, Haryana, Delhi, Rajasthan, Gujarat, Madhya Pradesh, and Uttarakhand
cityfalcon.com·1y ago
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