Brookfield-backed IndoStar Capital Finance eyes 800 branches in four years

Brookfield-backed IndoStar Capital Finance, which saw Deep Jaggi coming on board as chief executive officer (CEO), wants to expand its network to 700-800 branches in the next four-five years.

The non-banking financial company (NBFC) expects to grow loan book 4-5 times and also enter financing of used cars and tractors as part of its medium-term strategy.

R Sridhar, executive vice-chairman, will relinquish office on completing a five-year term in April 2022. Jaggi joined the NBFC as chief business officer in October 2020.

Private equity players like Brookfield and Everstone hold a majority stake in the company. Its stock closed higher by 5.9 per