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Ravi Narain, National Stock Exchange’s (NSE) vice-chairman, has joined the board of IndoStar Capital Finance, a non-banking financial company promoted by a host of private equity funds.
Narain was NSE's managing director for more than a decade.
He joins IndoStar Capital Finance as an independent director. IndoStar's promoters include the private equity arms of Goldman Sachs and Baer Capital. Everstone, a private equity venture formed in 2006, is also a promoter. Others include Ashmore, ACPI Investment Managers and CDIB Capital, according to the company's website.
Vimal Bhandari, chief executive officer and managing director of IndoStar, said Narain's addition to the board would aid the company's growth plans. “Ravi’s extensive experience would be invaluable, as the company implements its growth plans. His counsel and advice would guide the company in the years to come. We are proud to welcome an institution builder like Ravi on our board,” he said in a press release.
Formed in 2011, IndoStar provides debt solutions to corporate clients, according to a press statement. It provides corporate financing for capital market transactions, acquisition financing and lending to offshore investors. The company's asset book stands at about Rs 1,700 crore, the press release said.
