L&T Finance Ltd.

L&T Finance (LTF) has completed acquisition of the gold loan business of Paul Merchants Finance (PMFL), a wholly owned subsidiary of Paul Merchants. 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.

Earlier this calendar year, LTF had announced the proposed acquisition of gold loan business undertaking of PMFL, marking its entry into gold loan business. The gold loan franchise will be an addition to LTF’s portfolio of secured loan products.

LTF's entry into the gold loan business aligns seamlessly with the Company’s philosophy of risk-calibrated inorganic growth, fulfilling considerations such as addressing a critical capability gap, ensuring an easily integrable business model and people profile, and being available at attractive valuations.

L&T Finance (formerly known as L&T Finance Holdings) is one of the leading Non-Banking Financial Companies in India, with a strong presence across the lending business catering to the diverse financing needs of served and underserved customers.