Equirus Group secures Reserve Bank of India's approval for Non-Banking Financial Company operation; aims for a loan book of 3,000 crores
Equirus Finance, a pivotal expansion for the Equirus Group, has received approval from the Reserve Bank of India (RBI) to operate as a Non-Banking Financial Company (NBFC). The new entity aims to become India's most trusted financial partner for entrepreneurs, corporates, and High-Net-Worth Individuals (HNIs) and family offices.
Founded by Equirus Group and approved by the RBI, Equirus Finance will be led by Mr. Rahul Jain as its founder and chairman. The integrated platform of Equirus Finance aligns perfectly with its Equirus 2.0 strategy, aiming to offer a unified "One Equirus" experience for its clients.
Equirus Finance will maintain a client-centric and advisory-driven approach, avoiding the layers typically associated with retail banking. The new NBFC will cater to HNIs, family offices, and corporate promoters, offering various lending products to meet their diverse financial needs.
Some of the lending products that Equirus Finance will offer include Loan Against Securities (LAS), ESOP financing, Market-Linked Debentures (MLDs), Structured Finance, and customized secured lending solutions. The company intends to complement its insightful advice with fund-based services, providing a comprehensive financial solution for its clients.
The integrated platform provided by Equirus Finance supports clients across the entire financial spectrum, from wealth creation to liquidity management. Equirus Wealth, a part of the Equirus Group, currently manages assets worth over $2.2 billion, demonstrating the group's expertise in wealth management.
Equirus Finance will continue to offer its lending products across both its wealth and investment banking platforms. The expansion of Equirus Group aims to synergize its Wealth Management, Investment Banking, and Institutional Equities businesses, creating an integrated ecosystem that offers credit products alongside investment advisory and portfolio management.
Amit Arora, COO & Managing Director of Equirus, commented on the development, expressing satisfaction with the RBI's diligence, constructive engagement, and professionalism during the application review and approval process. Equirus Finance aspires to build a diversified loan book of over Rs 3,000 crore in the coming years, positioning itself as a significant player in the Indian financial market.
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