Tata Capital is entering India's fast-growing gold loan market with the acquisition of a majority stake in Kerala-based non-banking financial company (NBFC) Yogakshemam Loans Ltd (Yogloans), expanding its retail lending portfolio through an established player in the secured lending segment.
Tata Capital will acquire a majority stake in Yogloans through a combination of a share purchase from existing shareholders and a primary capital infusion of about Rs 93 crore, in a transaction based on a pre-money equity valuation of up to Rs 318 crore.