IndoStar Capital considers selling stake in housing finance unit

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

IndoStar Capital Finance is considering selling part of its stake in a home loan subsidiary for raising resources to address concerns over the private equity-backed company’s ability to continue as a going concern.

The company, where private equity players Brookfield, Everstone and others hold a majority stake, said in a BSE filing its monetization plan for lndoStar Home Finance Private depends on approval from the board of directors.

The housing finance unit posted a 253 per cent year-on-year (YoY) rise in net profit to Rs 16 crore in the first quarter ended June 2022. Its assets under management grew 45