INSUBCONTINENT EXCLUSIVE:
Mumbai: ECL Finance, the nonbanking financial arm of the Edelweiss Group plans to step up lending and expand its loan book with loans to
total Rs 30,000 crore loan book, around 60 per cent or Rs 18,000 crore is loans to companies and real estate, while around Rs 12,000 crore
includes loans to small entrepreneurs and mortgages
Deepak Mittal, CEO at ECL Finance said the company plans to reverse this ratio in the next few years with most of the loan book coming from
business and mortgage loans
Our growth will come through much more granular and retail books like mortgage and SMEs
Our focus is to grow the midmarket, SME and mortgages in tier-II and III cities because there is good demand and gap in terms of
This space of small businesses is now opening up
Investment by CDPQ would be through compulsorily convertible debentures in three tranches, and the first investment of $150 million would be
converted to equity shares after two years
The remaining $100 million would be invested in two equal tranches at the end of the first and second years of the initial investment.
