KOCHI:
Tata Capital Limited (TCL), the financial services arm of the Tata Group, has announced its entry into the gold loan sector by acquiring Kerala-based non-banking financial company (NBFC) Yogakshemam Loans Limited.
With this acquisition, Tata Capital secures a strong foothold in the gold loan markets of South India. Yogakshemam Loans, led by Managing Director and CEO I. Unnikrishnan for over a decade, operates 162 branches across Kerala, Karnataka, Tamil Nadu, and Andhra Pradesh. The company manages assets worth over ₹700 crore and serves approximately 32,000 gold loan customers.
Under the agreement, Tata Capital will infuse around ₹93 crore in capital into Yogakshemam Loans. Additionally, it will buy out shares from existing shareholders, giving Tata Capital an 88.5% majority stake in the company. The transaction values Yogakshemam Loans at approximately ₹320 crore.
Speaking at a press conference, I. Unnikrishnan stated that both companies would consider a merger at an appropriate time in the future. Yogakshemam Loans Independent Director Santhosh Kurup, Executive Vice President and Company Secretary K. Rajeshkumar, and Vice President and Chief Financial Officer P. Prasad were also present at the press meet.
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