L&T Finance completes acquisition of Paul Merchants Finance’s gold loan business
L&T Finance, a non-banking financial company (NBFC), has completed the acquisition of the gold loan business of Paul Merchants Finance (PMFL), a subsidiary of Paul Merchants. The acquisition includes the transfer of PMFL’s ₹1,350 crore gold loan book, 130 branches, and approximately 700 employees to LTF. This marks LTF’s formal entry into the gold loan