Adding home financing portfolio into its existing business, the Manappuram Finance has recently announced its plans to enter into the sector taking acquisition route, Managing Director, and CEO, V P Nandakumar said adding that the non banking financing company is currently negotiating with promoters of the entities the player has fixed on radar. The entry into the new business is likely through the inorganic growth route and it is all set to start new subsidiary very shortly. The entry may be marked in the form of purchase of portfolio business or a shell company with permission to carry out business in the housing finance space. According to the Chief Finance Officer, Kapil Krishan, the rationale behind diversifying its business has also been prompted from the fact that the regulators want to see a diversified portfolio as about 30% of its gold loan customers run small enterprises, as such it will come handy and will open up more lucrative biz avenues for the player.
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