Rattan India Finance launches personal loan segment for salaried customers

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The NBFC plans to expand its presence across 12 cities by December 2019

Key Highlights:

  • Aims to build USD 1 bn loan book in 5 years
  • Already built Rs. 1200 crore loan book across Corporate, Retail & SME segment
  • Launched SME Secured & Unsecured loans in Q2 FY19
  • Personal Loans up to Rs. 25 lakhs with quick approval

RattanIndia Finance, the flagship financial services arm of RattanIndia Group announced the launch of its Personal Loans offering for salaried customers. Its retail lending offering is powered by a newly developed technology platform and backed by strong data analytics to provide customers an easy and seamless experience. The company launched its unsecured and secured loan offering for SME customers late last calendar year. During the year, company’s wholesale lending arm has funded secured, mezzanine and special situations transactions at Opco & Holdco level across sectors including real estate with mid/ large size corporate.

RattanIndia Finance was launched at the start of the year post a committed joint investment of Rs. 2,600 crores (USD $400 million) by Rajiv Rattan and affiliates of Lone Star Funds in the NBFC. Mr. Rattan, Chairman of RattanIndia Group and co-founder of the Indiabulls Group was instrumental in the establishment and the overall build-out of Indiabulls Housing Finance, a company that today is one of the largest NBFCs in India by assets. Based on the currently estimated capitalization, RattanIndia Finance will be among top 10 NBFCs in India. Rajiv Rattan and Lone Star own 50% of RattanIndia Finance respectively.

Speaking about the opportunity, Rajiv Rattan, Chairman & CEO, RattanIndia Finance said, “India is home to over 1 billion people, and we are greatly looking forward to filling a vast gap in credit availability and penetration. Our key objective at RattanIndia Finance is to empower Indians to fulfill their aspirations and help them with their credit needs. We are building a retail platform which will extend across India. Our team is committed to building an institution that strengthens our communities and enables people and businesses to realize their growth potential.”

“We will implement newer model of distribution backed by data analytics and technology to expand our presence in the current market. We plan to be a multi-city franchise within our first year of operations catering to retail and SME segment,” added Mr. Amit Mande, Head – Retail & SME, RattanIndia Finance.

RattanIndia Finance retail lending business currently offers Personal Loans, Business Loans and Loan Against Property to salaried and self-employed customers. It plans to add more products in the consumer and SME space during the year.

About RattanIndia Private Limited

RattanIndia Finance Ltd., a Consumer Finance company provides retail and corporate loans. The company was started in partnership with Lone Star Funds, one of the largest US based private equity group. The company, a Systemically Important Non-Deposit Taking NBFC (NBFC-NDSI), is among the top NBFCs in India with committed equity capital of Rs. 2600 Crores.

Source: BWI