M&A

M&A

Pahal Financial Services buys Rs.700-Cr portfolio from Sub-K Impact Solutions

Economic Times  

Ahmedabad-based Pahal Financial Services has acquired an INR 700-crore loan portfolio from Hyderabad-based Sub-K Impact Solutions along with its loan delivery set-up.Founded in 2010 by Vijay Mahajan, the founder of the BASIX Social Enterprise Group, Sub-K facilitates financial services, including loans, savings, and payments, to more than 3 million underbanked households and micro-enterprises across India on behalf of multiple banks as a business correspondents (BC).As part of the deal, more than 250 BC outlets will be integrated to extend Pahal’s footprint to Karnataka, Uttarakhand, Goa and Punjab and deepen its penetration in Maharashtra.