About L&T Finance Holdings (LTFH) One of the top Non-Banking Financial Companies (NBFC) in India, LTFH (www.ltfs.com), provides a variety of financial products and services through its fully owned subsidiaries. The brand name for L&T Finance Holdings Limited and its affiliates is L&T Financial Services (LTFS). LTFH, which has its corporate office in Mumbai, has received the AAA credit rating, the best possible grade for NBFCs. Due to its ESG standards, L&T Financial Services has been approved as a component company in the FTSE4Good Index Series. For its flagship CSR initiative, Digital Sakhi, LTFS received the FICCI Corporate Social Responsibility Award for “Women Empowerment”. The company stated that it would become water neutral by FY23, and it has done so. The business has also stated its intention to become carbon neutral by FY35. One of the top non-banking financial organisations in India, L&T Finance Holdings Limited, today announced the successful sale of its mutual fund division to HSBC Asset Management (India) Private Limited. L&T Finance completes the divestment According to the definitive paperwork, it has I realised a surplus cash balance of around $764 crores in L&T Investment Management Limited, the asset manager of L&T Mutual Fund (LTIML), and (ii) received approximately 3,484 crores (equal to USD 425 million) as consideration for the sale. According to the stated Lakshya 2026 goal of becoming a world-class, digitally enabled, retail financing firm, the revenues from this transaction will be used largely to strengthen the balance sheet, which will help fuel expansion and innovation in the retail lending sectors. “The sale of the mutual fund business offers solid momentum to our pace of retailisation, where the retail portfolio mix presently stands at 58% of our entire loan book,” stated Dinanath Dubhashi, Managing Director & CEO of L&T Finance Holdings Limited. We are confident that by pursuing our chosen “Right to Win” companies, retailization, a customer-focused strategy, and other strategies, we will generate value for all of our stakeholders. The company’s retail businesses experienced strong disbursement momentum in Q2FY23, which saw the biggest quarterly disbursements ever at 10,238 crores, up 84% YoY. Due to the biggest quarterly disbursements ever, which exceeded Q1FY23 levels, the Retail Finance book increased by 27% YoY.