Acquisitions9 Jun 2025, 09:09 am
L&T Finance Ltd Completes Acquisition of Paul Merchants Finance's Gold Loan Business
AI Summary
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) 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. This acquisition is a natural contiguous cross-sell product extension of LTF’s business and will fill a crucial gap in its portfolio, introducing a secured, high-yield product that will benefit both its rural and urban customers.
Key Highlights
- L&T Finance Ltd. completes the acquisition of Paul Merchants Finance's Gold Loan Business
- The acquisition includes PMFL’s 130 branches and approximately 700 employees
- Business transfer of PMFL's gold loan book size of Rs. 1,350 Crore to LTF
- This acquisition is a natural contiguous cross-sell product extension of LTF’s business
- The gold loans business will fill a crucial gap in LTF's portfolio, introducing a secured, high-yield product