STOCKWATCH

Paul Merchants Ltd Completes Slump Sale of Gold Loan Business Undertaking to L&T Finance Ltd

Paul Merchants Ltd has successfully completed the slump sale of the Gold Loan Business Undertaking of its wholly owned subsidiary, Paul Merchants Finance Private Limited, to L&T Finance Ltd. The entire business undertaking, including assets, liabilities, employees, rights, obligations, contracts, and goodwill (excluding the brand name), has been transferred to the acquirer for a lump sum purchase consideration of INR 660,64,47,302/-. Out of this, INR 25 Crores has been retained by the acquirer and the balance amount has been received by PMFPL. The balance purchase consideration will be paid by the acquirer in due course as per the terms and conditions specified in the BTA.

• Paul Merchants Ltd completes slump sale of Gold Loan Business Undertaking to L&T Finance Ltd
• Transaction valued at INR 660,64,47,302/-
• INR 25 Crores retained by the acquirer
• Balance amount received by PMFPL
• Payment of balance purchase consideration in due course as per BTA terms