 "IndoStar, IndoStar Capital Finance")
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 per cent YoY to Rs 1,467 crore in the same quarter.
