Tata Capital Buys 88.6% of Yogakshemam to Enter India’s $194 Billion Gold Loan Market
Updated
Updated · Bloomberg · Jul 13
Tata Capital Buys 88.6% of Yogakshemam to Enter India’s $194 Billion Gold Loan Market
3 articles · Updated · Bloomberg · Jul 13
Summary
Tata Capital said Monday it will acquire an 88.6% stake in Yogakshemam Loans, marking its entry into India’s fast-growing gold-backed lending business.
The deal values Yogakshemam at no more than 3.18 billion rupees, or about $33.2 million, according to Tata Capital’s exchange filing.
India’s gold loan market is estimated at $194 billion, making the acquisition a quick route for the Mumbai-based shadow lender to expand in a hot segment.
The move intensifies competition in gold loans for Tata Capital, which is part of the $180 billion Tata Group.