L&T Finance completes acquisition of Paul Merchants Finance's gold loan business

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L&T Finance completes acquisition of Paul Merchants Finance's gold loan business

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L&T Finance completes acquisition of Paul Merchants Finance's gold loan business

//business-finance.news-articles.net/content/202 .. paul-merchants-finance-s-gold-loan-business.html

Published in Business and Finance on Tuesday, June 10th 2025 at 3:40 GMT by cnbctv18

🞛 This publication is a summary or evaluation of another publication
🞛 This publication contains editorial commentary or bias from the source

The acquisition includes the transfer of PMFL's 1,350 crore gold loan book, 130 branches, and approximately 700 employees to LTF.

2025-06-10 312 x 187 / 32991 Bytes

L&T Finance has successfully completed the acquisition of the gold loan business from Paul Merchants Finance, as announced on March 1, 2024. This acquisition, which was first revealed in October of the previous year, involved purchasing the gold loan portfolio and related assets for a cash consideration of Rs 85 crore. The deal aims to enhance L&T Finance's presence in the gold loan market, particularly in the northern region of India, and is part of their strategy to expand their rural business group. The acquisition is expected to be immediately accretive to L&T Finance's earnings, with the integration of the portfolio set to be completed within the next few months.

Read the Full CNBCTV18 Article at:
[ https://www.cnbctv18.com/market/l-and-t-finance-completes-acquisition-of-paul-merchants-finance-gold-loan-business-19617817.htm ]