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Piramal Finance Ltd (PFL), a subsidiary of Piramal Enterprises Ltd, has sanctioned ₹400 crore through its vertical – Emerging Corporate Lending (ECL) which is focussed on providing funding to emerging and mid-market businesses.
ECL has provided funding to sectors as diverse as automotive dealerships, auto ancillaries, manufacturing, pharmaceuticals, electronic surveillance and IT services.
ECL aims to target ₹1,000 crore disbursements by the end of this fiscal.
ECL has been set up as a sector-agnostic platform and engages with clients across manufacturing, trade and services sectors, offering solutions with ticket size ranging from ₹10 crore to ₹100 crore.
ECL’s product suite includes loan against property, lease rental discounting, promoter financing and structured debt.
Khushru Jijina,MD, PFL, said: “Our ECL vertical addresses the financing requirements of emerging and mid-market companies. This is a natural progression for our platform and adds both diversification and granularity to our existing lending portfolio. “With competitive interest rates and a flexible product offering, we are confident that Piramal Finance will be able to scale up its presence within this space.”
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