L&T Finance (LTF), a prominent non-banking financial company (NBFC), has announced a strategic move to enter the gold loan sector by acquiring the gold loan business of Paul Merchants Finance Private Limited (PMFL). The deal, structured as a slump sale on a going concern basis, is valued at ₹537 crore, subject to adjustments at closing.
This acquisition marks a significant step for L&T Finance, adding a secured, high-yield product to its existing portfolio. The acquired business comes with a well-established network of 130 branches across 11 states, primarily in North and Central India, along with a team of approximately 700 employees and a 24/7 security monitoring center. This instantly gives LTF access to over 98,000 new customers.
L&T Finance’s MD & CEO, Sudipta Roy, underscored the value of the deal, saying it “significantly strengthens our lending portfolio, adding a profitable and secure asset class that will contribute to long-term, sustainable growth.”
The transaction is expected to close in the second quarter of the financial year 2025-26, pending regulatory approvals and fulfillment of customary closing conditions.
Disclaimer: The information provided is for educational purposes only and does not constitute financial advice. We are not registered financial advisors. Please conduct your own research and consult a qualified advisor before making investment decisions. Any investment decisions you make based on this information are solely at your own risk.
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Published on: February 11, 2025 at 9.00PM GMT.
International Day of Women and Girls in Science:
International Day of Women and Girls in Science is generally celebrated on February 11 globally. The International Union of Pure and Applied Chemistry (IUPAC) has scheduled its Global Women’s Breakfast 2025 along with the theme “Accelerating Equity in Science.” It seeks to establish networking as well as ponder over the hurdle that must be crossed to make scientific fields gender-friendly.
As stated in Bhagavad Gita : (Bhagavad Gita 6.5)
उद्धरेदात्मनात्मानं नात्मानमवसादयेत्। आत्मैव ह्यात्मनो बन्धुरात्मैव रिपुरात्मनः।
One must elevate, not degrade, oneself. The mind is the friend of the conditioned soul, and his enemy as well.
11th February is celebrated as International Day of Women and Girls in Science!
