L & t finance share price: One of India’s leading non-banking financial companies, L&T Finance (L&T Finance) has announced admission to the gold loan business by acquiring the Gold Loan Segment of Paul Merchants Finance Private Limited (PMFL). This franchise will be additional in the portfolio of the company’s secured loan products. L&T Finance also said that it is a complete cash deal with a lump sum amount. The deal has been done for Rs 537 crore on the basis of recession sales. In this, all the conditions before the necessary approval and closing will have to be fulfilled. Business transfer is expected to be closed by the second quarter of the financial year 2025-26.
What is included in the deal
“The proposed acquisition includes a fully operational network and security centers for 24/7. Strategically low penetrated markets like Chandigarh, Punjab, Haryana, Delhi, Rajasthan, Gujarat, Madhya Pradesh and all gold loan branches located in Uttarakhand The remote monitoring is also included. The deal also includes about 700 employees and 130 branches. ” The company gave this information in a regulatory filing on 7 February.
What did the management say
Speaking on the occasion, LTF Managing Director and CEO Sudipta Roy (Sudipta Roy, Managing Director & CEO of LTF) said, “We are committed to giving continuous growth and attractive returns. This proposed acquisition is an important step in that direction Is.” He said that the gold loan business undertaking will fill the difference of a safe high-hearted product in both rural and urban. Under its management, asset is to provide an integrable business profile easily to about Rs 1,000 crore and more than 98,000 active customers.
The shares of L&T Finance on NSE reduced by 1 percent to Rs 149 from the last bandh. With the beginning of the year, L&T Finance shares rose by 10 percent.
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