Escorts Kubota, one of the leading engineering companies in the farming and construction equipment segment is looking to set-up a non-banking financial company (NBFC) with an authorised capital of Rs 700 crore.
The Board of Directors have also approved a capital infusion of up to Rs 200 crore as and when required as per the business plan of the proposed entity.
The new company is being set-up to finance the company’s products and support finance needs of customers. Escorts Kubota says subject to the approval of MCA, RBI or any other Statutory Authority, if any, the indicative timelines for completion is expected by July 2024.
