Hedge Finance gets non-banking financial company status

Hedge Finance, part of the Kochi-based Hedge group, has announced that the company has acquired NBFC status.

The company will primarily be focusing on securities, a relatively under-tapped segment. With loans against security model, Hedge Finance is targeting a major growing segment in the Indian financial landscape.

“While focusing on loans against securities, Hedge Finance is also betting on Indian economy’s growth,” said Mr. Alex K. Babu, Managing Director, Hedge Finance. “Our main focus will be on providing loans to customers against financial instruments like equities, bonds and debentures" he said adding that the company will also provide gold loans, other types of conventional hire purchases and loans against properties.

As an organic extension of the services of Hedge Commodities, another group company having membership in MCX, NCDX and NMC, Hedge Finance will also lend against warehouse receipts.

He said that given the wide client base and modern infrastructure, the company would achieve a loan book position of Rs 100 crore within the first three months of operations. The new company will also spearhead the group’s nationwide expansion.