The NBFC arm of Centrum Group, Centrum Financial Services has acquired the supply chain business of L&T Finance. The venture previously owned by L&T Finance is dedicated to mainly provide loans to companies to large-scale manufacturing firms and OEMs. Earlier this June, Centrum Financial Services had floated its own supply chain lending vertical and now with the acquisition of L &T Finance unit, the size of its business grows manifold. With the acquisition, Centrum is expecting a loan portfolio of Rs 900 crore to the suppluchain businesses by the end of the current fiscal.
Commenting on the acquisition, Ranjan Ghosh,MD & CEO Centrum Finance Services said, ““As part of our strategy, strengthening our SME lending business is a key focus area for us. The supply chain finance business is a fast growing area and we wish to increase our presence in this space. 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.”