In a significant development, L&T Finance Holdings, a prominent non-banking financial company (NBFC) headquartered in Mumbai, has undergone a transformation with its name change approval from the Registrar of Companies (RoC). The company, now rebranded as L&T Finance Ltd, announced this pivotal shift on Friday, marking a new chapter in its journey.
Managing Director & CEO of L&T Finance, Sudipta Roy, emphasized the strategic importance of this name change, highlighting its alignment with the company’s vision of streamlining operations and consolidating its various lending businesses under one entity. This move comes in the wake of a successful merger that took effect on December 4, 2023, integrating subsidiaries such as L&T Infra Credit and L&T Mutual Fund Trustee into the parent company.
Roy expressed confidence in the revamped identity, stating, “To us, the name change simply signifies a renewed focus on delivering value to our customers and driving sustainable growth.” This sentiment underscores L&T Finance’s commitment to enhancing customer experience and optimizing its service offerings in the competitive financial landscape.
Apurva Rathod, Company Secretary and Chief Sustainability Officer of L&T Finance, shed light on the regulatory intricacies involved in the transition. Rathod explained that in compliance with regulatory requirements post-merger, certificates of registration for L&T Finance and L&T Infra Credit were surrendered to the Reserve Bank of India (RBI), paving the way for the name change process.
The issuance of the fresh Certificate of Incorporation by RoC on March 28, 2024, marks the culmination of these efforts, signifying the fulfillment of objectives outlined in the amalgamation scheme. Rathod expressed satisfaction at achieving this milestone, indicating a seamless transition towards a unified operational structure.
The rebranding of L&T Finance Holdings to L&T Finance Ltd not only represents a symbolic shift in nomenclature but also reflects the company’s strategic evolution. By consolidating its lending businesses under a single umbrella, L&T Finance aims to streamline its operations, enhance efficiency, and reinforce its position as a market leader in the NBFC sector.
This transformation is poised to have far-reaching implications, not only for L&T Finance but also for its stakeholders, including customers, investors, and regulatory bodies. With a renewed focus on innovation, service excellence, and sustainable growth, L&T Finance Ltd is poised to chart a new trajectory in the dynamic landscape of financial services.
In conclusion, the approval for the name change from RoC heralds a new era for L&T Finance Ltd, signaling its readiness to embrace change, adapt to evolving market dynamics, and continue its journey towards excellence in the financial services industry.
