Thrissur - Manappuram Finance India Ltd (MAFIL) has entered into a Memorandum of Understanding (MoU) with construction equipment manufacturer JCB India Ltd to finance the latter’s range of equipment and engineering products. The agreement was signed by Kamal Parmar, Head, of Vehicle and Equipment Finance, Manappuram Finance, and JCB India representative the other day. As per the agreement, the finance options will be available across the country. The pact will go a long way in helping both sides increase their business volumes.
“We are pleased to announce the signing of an MoU with JCB India for financing a range of their construction equipment. This MoU will lead to higher volume growth for both partners. It will help both companies to leverage each other`s strengths in the respective markets”, said Mr V.P. Nandakumar, MD and CEO of Manappuram Finance.
“This agreement with JCB India opens up our network of branches to expand their dealership footprint across Bharat and is an integral part of our efforts to diversify our portfolio offering by making a foray into new verticals to spur growth. It is indeed a major step to boost our business of construction equipment finance,” he added.
About Manappuram Finance Ltd.
Manappuram Finance Ltd. is one of Bharat’s leading gold loans NBFCs engaged in providing finance against used household gold ornaments. Incorporated in 1992, the company has been promoted by Mr. V.P. Nandakumar (current MD & CEO) whose family has been involved in gold loans since 1949. It is headquartered at Valapad in the Thrissur District of Kerala. The company went public in August 1995 and its shares are listed on the stock exchanges of Mumbai, Chennai, and Kochi.