L&T Finance to acquire the gold loan business undertaking from Paul Merchants Finance for $62m.

L&T Finance, a non-banking financial company, agreed to acquire the gold loan business undertaking from Paul Merchants Finance, a non-banking financial company, for $62m. “We are committed to delivering sustainable growth and attractive returns, and this proposed acquisition is a significant step in that direction. The gold loan business undertaking will fill the gap of a secured high yield product in our portfolio in both rural and urban. This aligns with our Lakshya 2026 strategy, which focuses on growing our customer base. It accelerates our gold loan business time-to-scale by 36 months, providing approximately Rs.1,000 crore in assets under management and over 98,000 active customers in an easily integrable business profile,” Sudipta Roy, LTF Managing Director & CEO.