Paul Merchants Finance Private Limited, a wholly owned subsidiary of Paul Merchants Limited, has completed the slump sale of its Gold Loan Business Undertaking to L&T Finance Limited.

The transaction transferred all related assets, liabilities, employees, contracts, and goodwill (excluding the brand name) on a going concern basis.

The lump sum consideration stands at INR 660.64 Cr, with INR 25 Cr retained by the buyer as per agreement terms.

Remaining payments will be made in due course.

This move streamlines Paul Merchants’ business focus and impacts its subsidiary’s operational structure.