Godrej Capital enters gold loan business with Kanakadurga acquisition
Godrej Capital has entered the gold loan segment by acquiring the gold loan business of Kanakadurga Finance Limited. The acquisition marks its first strategic buyout and supports the company's goal of building a Rs 1 lakh crore AUM franchise by 2031.
Hyderabad: Godrej Capital, through its subsidiary Godrej Finance Limited, announced the acquisition of the gold loan business of Kanakadurga Finance Limited, marking the company’s first strategic acquisition and a significant milestone in its journey to build a large, diversified financial services franchise in India.
The acquisition is in line with the company’s ambition to build a Rs 1 lakh crore Assets Under Management (AUM) franchise while serving over one million customers by 2031. As the company continues to broaden its portfolio and customer offerings, this acquisition represents an important milestone in creating a more diversified lending institution for the future.
Manish Shah, MD & CEO, Godrej Capital, said, “The acquisition of Kanakadurga Finance’s gold loan business marks an important milestone in Godrej Capital’s journey and represents our first strategic acquisition as we continue building a larger and more diversified financial services franchise with a five-year ambition of achieving Rs 1 lakh crore AUM.”