IndoStar Capital

The fund will also invest an additional Rs 500 crore to fuel the company's geographic expansion and digital transformation

Indostar Capital Finance board approved the sale of IndoStar Home Finance for Rs 1,750 crore to WITKOPEEND B.V

The Mumbai-based shadow lender intends to complete the sale of the stressed assets by August 27

Private equity-backed company losses have raised concerns about its stability

The company on Wednesday reported 25 per cent rise in net profit

Pre-provisioning operating profit was of Rs 33.10 crore during the quarter, down from Rs 75.10 crore in year ago period

IndoStar Capital Finance on Thursday reported a 36 per cent decline in net profit at Rs 32 crore for the quarter ended September.

Besides challenges faced by wholesale NBFC in particular, the credit costs (amount to be provided for stressed assets), are likely increase post outbreak of COVID 19

Proposed home finance arm will focus on small-ticket lending to self-employed people, which is a large untapped market