Moneycontrol PRO
HomeNewsBusinessEQT acquires IndoStar Home Finance for Rs 1,750 crore

EQT acquires IndoStar Home Finance for Rs 1,750 crore

The deal will help IndoStar Capital to focus on its core strengths of vehicle financing and small business loans.

September 20, 2024 / 07:24 IST
EQT acquires IndoStar Home Finance

Private equity major EQT has acquired IndoStar Home Finance, a fully-owned subsidiary of IndoStar Capital Finance, for Rs 1,750 crore.

Moneycontrol had reported that EQT was one of the front runners in the race to acquire IndoStar Home Finance.

The deal is subject to regulatory approvals and shareholders' consent. The board of IndoStar Home Finance has also given its nod to an investment of Rs 500 crore by EQT upon closing of this transaction.

The deal will help IndoStar Capital to focus on its core strengths of vehicle financing and small business loans.

"We are excited to embark on this new journey with EQT,
who shares our vision and whose partnership will significantly help advance our mission of delivering affordable housing finance solutions across India. We extend our thanks to IndoStar and its promoters for their unwavering support and commitment throughout the years," Shreejit Menon, CEO of IndoStar Home Finance, said.

"Indostar Home Finance has established itself as a leading player in this segment and is well-positioned for continued growth. We are impressed by its market-leading position in South India and strong underwriting capabilities. We see significant potential to expand Indostar’s presence across India and drive its digital transformation. EQT looks forward to supporting the company in its next phase of growth,” Hemant Sharma, Managing Director in the EQT Private Capital Asia advisory team, said.

Moneycontrol News
first published: Sep 20, 2024 07:24 am

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

  • On Saturdays

    Find the best of Al News in one place, specially curated for you every weekend.

  • Daily-Weekdays

    Stay on top of the latest tech trends and biggest startup news.

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347