Essel Finance to scale up lending, finance biz after LKP acquisition

At Essel Finance, a subsidiary of media baron Subhash Chandra’s Essel Group, plans to scale up operations are underway after the Reserve Bank of India (RBI)  approved  LKP Finance’s proposal to sell up to 62 per cent of its equity shareholding to Dakshin Mercantile Private Limited, another Essel Group company.

LKP Finance is an RBI registered non-banking finance company (NBFC) and is listed on the Bombay Stock Exchange. 

Speaking to Business Standard, Amitabh Chaturvedi, MD and CEO of Essel Finance, says, “Our integration with LKP Finance and its potential benefits is contingent upon the successful completion of the open offer and regulatory