Godrej Capital enters gold loan business with Kanakadurga Finance acquisition

Godrej Capital acquired Kanakadurga Finance's gold loan business to expand its consumer finance segment. This acquisition aims to build a Rs 1 lakh crore assets under management franchise by 2031. Kanakadurga Finance's business adds 54 branches and 250 employees to Godrej Capital. The gold loan segment is experiencing significant growth due to rising gold prices. Godrej Capital also launched its wealth management business earlier this year.