• Fri, February 7, 2025

by: cnbctv18

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by: Fortune

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L&T Finance ventures into gold loan business with ?537 crore acquisition of Paul Merchants Finance

This acquisition, valued at ₹537 crore, marks the Larsen and Toubro Group NBFC's entry into the lucrative gold loan market, expanding its portfolio of secured loan products.
Larsen & Toubro Finance Ltd (LTF) has acquired the gold loan portfolio of Paul Merchants Finance Pvt Ltd (PMFPL) for Rs 80 crore, as part of its strategy to expand its presence in the gold loan market. This acquisition includes a portfolio of Rs 79.9 crore and involves taking over 3,500 customers from PMFPL. The deal aims to enhance LTF's market reach and service offerings in the gold loan sector, which is seen as a high-growth area. The transaction was completed on January 18, 2024, and is expected to help LTF leverage its existing infrastructure and expertise to better serve the acquired customer base.

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