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