Hyderabad, June 9 -- L&T Finance Ltd. (LTF), on Monday, announced the completion of transfer of gold loan business of Paul Merchants Finance Private Ltd. (PMFL), a wholly owned subsidiary of Paul Merchants Ltd., to LTF.
LTF is one of the leading Non-Banking Financial Companies (NBFCs) in India.
The acquisition includes PMFL's 130 branches, around 700 employees, and the business transfer of its gold loan book size of Rs 1,350 Crore to LTF, the company said in a release.
Sudipta Roy, Managing Director & CEO of LTF, said, "In line with our five-pillar strategy of enhancing customer acquisition, we continuously endeavour to expand our existing product offerings in a synergistic and contiguous manner."
"LTF has one of the largest rural fra...