Financial services firm, Piramal Finance today said it has sanctioned Rs 400 crore through its vertical Emerging Corporate Lending (ECL) to fund emerging and mid-market businesses. ECL has been set up as a sector-agnostic platform and engages with clients across manufacturing, trade and services sectors, offering solutions with ticket size ranging from Rs10-100 crore. "This is a natural progression for our platform and adds both diversification and granularity to our existing lending portfolio. With competitive interest rates and a flexible product offering, we are confident that Piramal Finance will be able to scale up its presence within this space," Piramal Finance managing director, Khushru Jijina said in a statement here today. ECL has provided funding to sectors as diverse as automotive dealerships, auto ancillaries, manufacturing, pharmaceuticals, electronic surveillance and IT services.

Source: dna July 25, 2017 08:48 UTC