L&T Finance Completes Acquisition of PMFL's Gold Loan Business

L&T Finance, a financial company, has finalized its purchase of the gold loan business from Paul Merchants Finance.

This deal includes 130 branches and about 700 employees.

L&T Finance is also taking over around Rs.

1,350 Crore in gold loans.

This acquisition marks L&T Finance's entry into the gold loan market, allowing them to offer a new type of secured loan.

This move aligns with their strategy to expand customer offerings and become a more comprehensive financial partner.

The acquisition is also expected to leverage their existing rural customer base and workforce for increased market reach.