KLM Axiva Finvest, a South India-based gold loan NBFC with over 23 years of experience, is planning to open its first Mumbai office in the first week of September. The company eventually plans to set up 100 branches in Maharashtra by 2025.
Manoj Ravi, CEO, KLM Axiva Finvest, said, “We already have a share capital of Rs 160 crore to extend branches in Mumbai and rest of Maharashtra. The company is aiming to focus mainly on lending. The company issues NCDs to gain trust in the market, a highly secured backup over gold loan receivables. This is the best investment if you seek something that consistently generates a fixed income. Investors in NCDs get recurring interest at a specific rate.”
KLM Axiva Finvest issued its sixth NCD at a higher interest rate this year. Between February 15 to March 11, 2022, and the 6th NCD Issue had been successfully oversubscribed. The company, with over 2 lakh customer base, has its branch presence across South India and is now eyeing a Pan-India expansion.