Jagsonpal Finance and Leasing Limited has announced its intention to acquire Welcast Finstocks Pvt Ltd, a Non-Banking Financial Company (NBFC), pending necessary approvals from regulatory authorities, including the Reserve Bank of India (RBI).
The proposed acquisition is set to strengthen Jagsonpal Finance’s position in India’s burgeoning overseas education financing sector. By combining Welcast Finstocks’ deep-rooted expertise in retail and SME lending with its own digital-first platform, Jagsonpal aims to create a more agile and customer-centric NBFC capable of addressing the growing financial needs of students seeking education opportunities abroad.
In a statement, Karthik Srinivasan, Chairman and Managing Director, Jagsonpal Finance, remarked that Welcast’s strong foundation in lending operations aligns with the company’s vision of integrating advanced technology with traditional financial services.
He emphasised that the acquisition would enhance their ability to serve underserved markets and scale their lending operations while offering innovative solutions to education loan seekers.
Jagsonpal Finance has initiated the approval process under the RBI’s Scale-Based Regulation Directions, 2023, which governs acquisitions involving significant equity stakes or board-level changes. The company confirmed that it would share further updates as regulatory clearances are secured and integration plans evolve.
The acquisition reflects Jagsonpal’s commitment to expanding access to affordable financing through technological innovation. Focused on empowering retail customers, small businesses, and students, the company continues to prioritise transparency, compliance, and responsible growth as it navigates this transformative step.
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