Adani Capital on Wednesday said it has a loan book of approximately Rs 145 crore.
Adani Group. (Photo: Adani)
Adani Capital Pvt Ltd, the non-banking financial company (NBFC) arm of the Adani Group, has acquired Essel Finance’s MSME loan business.
Adani Capital on Wednesday said it has a loan book of approximately Rs 145 crore.
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“As of December 31, 2019 the overall lending book of NBFC and the housing finance business was Rs 1,100 crore, with the latter contributing Rs 150 crore,” the company said.
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The gross NPAs as of December 31, 2019 stood at just Rs 2.4 crore, it added.
“The acquisition decision is led by the fact that we operate in similar segments, which is secured lending focused on income-generating borrowers. It is an opportunistic acquisition,” said Gaurav Gupta, CEO, Adani Finserve Pvt Ltd.
Adani Capital is a 100 per cent subsidiary of Adani Finserve Private Limited and serves to micro and small entrepreneurs across four verticals—farm, primarily tractor loans, commercial vehicle loans for both new and used vehicles, MSME loans and for supply chain.
(With input from agencies)
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