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Informist, Monday, Jun. 9, 2025

MUMBAI - L&T Finance Ltd. Monday said it has completed the acquisition of gold loan business of Paul Merchants Finance Pvt. Ltd., including a gold loan size of INR 13.50 billion. The acquisition aslo includes Paul Merchants Finance's 130 branches, and around 700 employees, L&T Finance said. 

In February, L&T Finance had announced its proposed acquisition of the gold loan business of Paul Merchants Finance in an all-cash deal of INR 5.37 billion. The acquisition marks L&T Finance's entry into the gold loan business, and will add to its portfolio of secured loan products.

"The gold loans business will fill a crucial gap in our portfolio, introducing a secured, high-yield product that will benefit both our rural and urban customers," Sudipta Roy, managing director and chief executive officer, said in a release. "This acquisition is not just about expanding our offerings; it's about solidifying our position as a comprehensive financial partner for our customers across the country."

L&T Finance reported a consolidated net profit of INR 6.36 billion for the quarter ended March, up 14.86% on year. At 0946 IST, shares of L&T Finance were up 2.3% at INR 194.20 on the National Stock Exchange.  End

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Reported by Shubham Rana

Edited by Vandana Hingorani

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