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 the gold loan business of Kanakadurga Finance through its subsidiary, Godrej Finance, for an undisclosed sum.

The financial services company said that the acquisition is in line with the company’s ambition to build a ₹1 lakh crore Assets Under Management (AUM) franchise while serving over a million customers by 2031. The acquisition adds an established portfolio of approximately Rs 280 crore in AUM, nearly 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 scaled gold loans business.