Godrej Capital Acquires Kanakadurga Finance’s Gold Loan Business

Mumbai: Godrej Capital, the financial services arm of the Godrej Group, on Wednesday announced the acquisition of Kanakadurga Finance’s gold loan business through its subsidiary Godrej Finance for an undisclosed sum.

The financial services company said the acquisition is in line with the company’s goal of building a ₹1 lakh crore Assets Under Management (AUM) franchise while serving over one million customers by 2031. This acquisition adds an established portfolio of around Rs 280 crore in AUM, around 12,000 customers, 54 operational branches across Andhra Pradesh and an experienced team of around 250 employees, providing Godrej Capital with a strong platform to build a strong portfolio of assets. scale gold loan business.