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L&T Finance Ltd. Completes the Acquisition of Paul Merchants Finance's Gold Loan Business

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NewsVoir 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, [ ]
L&T Finance Ltd has successfully completed the acquisition of the gold loan business from Paul Merchants Finance Pvt Ltd, as announced in a press release on June 28, 2024. This acquisition, which was first announced in February 2024, involved the purchase of a gold loan portfolio worth approximately Rs 80 crore. The deal aims to enhance L&T Finance's presence in the gold loan market, leveraging Paul Merchants' established customer base and operational expertise. The transaction aligns with L&T Finance's strategy to expand its product offerings and strengthen its position in the financial services sector.

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[ https://theprint.in/ani-press-releases/lt-finance-ltd-completes-the-acquisition-of-paul-merchants-finances-gold-loan-business/2651776/ ]