Clix Capital (Clix), a leading non-banking financial services entity with a robust pan-India presence, has entered into an exclusive co-lending partnership, dedicated to healthcare financing, with Bank of Baroda (Bank), one of India's leading public sector banks. Under the partnership, Clix and Bank of Baroda will provide loans at affordable rates in the healthcare equipment space, across Tier 2 cities and beyond.
This is also the very first truly digital co-lending partnership in the industry, with a fully automated end-to-end digital journey. This collaboration will enable the development of healthcare and diagnostic infrastructure across India, by providing financing for the purchase of medical equipment for doctors, clinics, hospitals, and diagnostic centers.
Speaking on the partnership with Bank of Baroda, Rakesh Kaul, CEO, Clix Capital said, "This association will open up the industry to an entirely new gamut of co-lending partnerships between banks & NBFCs. While MSME financing is a core area for Clix Capital as a lender, we are delighted to be taking it to another level with Bank of Baroda. We believe that this alliance will help us not just service MSMEs across India digitally, but also help in nation-building by supporting the development of healthcare infrastructure. With Bank of Baroda's wide network & in-depth knowledge of the Indian market, and Clix's deep understanding of the healthcare ecosystem & its strong underwriting capabilities, together, we can spearhead financial inclusion for MSMEs in the healthcare segment across India."
"Clix Capital is one of the earliest financers of medical equipment, thanks to its genesis from GE Capital, and is among the leading non-bank players in this space today. Since our very inception, we have been offering innovative products to meet the dynamic and evolving needs of healthcare institutions across India," he added.
Dhrubashish Bhattacharya, Head - MSME Business, Bank of Baroda said, "The healthcare sector is undoubtedly a priority for India over the next many years. India requires substantial investment to improve the quality of healthcare services as well as build capacity. And this is especially true for the country's smaller cities. This partnership with Clix Capital will provide Bank of Baroda with critical access to key players in the healthcare ecosystem operating in the heartland of India and enable us to extend credit and a range of funding options as they endeavour to build scale to meet the healthcare needs of the country."
Re-christened from GE Capital India in 2016, Clix Capital's primary focus has been on micro and small healthcare professionals, as well as various medical institutions. Clix Capital has successfully financed 5000+ medical professionals and institutions over the past five years including ~1500 entrepreneurs in setting up various healthcare-related units.
Shares of Bank of Baroda was last trading in BSE at Rs. 118.25 as compared to the previous close of Rs. 117.90. The total number of shares traded during the day was 1044370 in over 5976 trades.
The stock hit an intraday high of Rs. 119.65 and intraday low of 116.45. The net turnover during the day was Rs. 123586846.00.