The Larsen and Toubro Finance, a non-banking finance company (NBFC) and an arm of the country’s largest engineering and construction giant L&T, is all set to expand its financial service business in the mutual fund industry and is also weighing options of acquisitions in the mutual funds segment.

The Executive Vice-President Financial services, N Sivaraman, in a recent statement said that the company is eyeing mutual fund business mainly through the organic route but it might also look at acquisitions as well, he said adding that the company has some acquisition options on the table and is evaluating their viability and once it zero in on a worthy option it will apply for regulatory approval to start its business.

It is worth mentioning here that the total loan asset of the L&T Finance is Rs 5,400 crore and it is looking to record a 25 per cent year on year rise in loans in the next fiscal. In addition, the company is also foraying into the insurance business. The company’s Rs. 1,000 crore NCD, which closed on September 4, received subscriptions worth Rs. 1,930.84 crore and the retail category received subscriptions of Rs. 453 crore as against Rs. 175 crore reserved for them. he added.