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Centrum Financial Services, A Non-Banking Financial Company arm of the Centrum group, said in a statement that it has signed an agreement to acquire the L&T Finance supply chain finance business. L&T Finance, a subsidiary of L&T Finance Holdings, which operates in around 16 cities in the country has a loan book of nearly Rs 800 crore and a staff strength of 50 professionals.
Managing director and CEO of Centrum Financial Services, Ranjan Ghosh said that the supply chain finance business is a fast-growing area and the company is looking to increase its presence in this space.
According to Ghosh, “This acquisition will be a natural fit in our portfolio and will be a profitable accretive business in the first year itself. This will also give the company lucrative cross-sell opportunities.”
He also added that “We plan on infusing additional capital and are confident that the acquired L&T Finance team will play a significant role in helping us grow the business.”
The Centrum group, through its NBFC, offers commercial finance, structured credit, supply chain and real estate finance to SMEs and MSMEs. The company’s other lending services include affordable housing finance and microfinance.
