NCML to invest Rs 300 crore in NBFC arm by February 2018

By: |
Mumbai | August 22, 2016 7:42 PM

Agri-logistics firm National Collateral Management Services Ltd will invest Rs 300 crore in its non-banking finance company NCML Finance Ltd by February 2018.

The National Collateral Management Services Ltd (NCML) has also earmarked investment of Rs 75 crore in warehouses, Kaul said. (Website)The National Collateral Management Services Ltd (NCML) has also earmarked investment of Rs 75 crore in warehouses, Kaul said. (Website)

Agri-logistics firm National Collateral Management Services Ltd will invest Rs 300 crore in its non-banking finance company NCML Finance Ltd by February 2018.

“Fairfax India, which has majority ownership and management control of NCML has committed an investment of about Rs 300 crore by February 2018. It will invest Rs 100 crore by March 2017 of which Rs 50 crore have been already invested this year,” NCML MD and CEO Sanjay Kaul told reporters here.

The National Collateral Management Services Ltd (NCML) has also earmarked investment of Rs 75 crore in warehouses, Kaul said.

In March this year, NCML launched NCML Finance Ltd, with focus on rural and agri-business finance.

NCML is also setting up 53 testing laboratories, which includes 3 high-end labs in JNPT near Mumbai, Visakhapatnam and Gurgaon, also known as Gurugram. These sophisticated labs will approved by The Food Safety and Standards Authority of India, he said.

NCML is also looking at tie up with 3-4 major banks for providing collateral management and warehousing services.

“Our warehouses spread across the country issue credible and reliable warehouse receipts. The tie up would further consolidate the bank’s presence with the wide network of warehouses of NCML in various states across length and breadth of the country and in turn help NCML to better serve the stakeholders in the agri-supply chain,” Kaul said.

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