IndoStar’s financing now more focussed on the CV Business
By Jim Gibbins - 1st November 2019
Mumbai – IndoStar Capital Finance Limited of Mumbai, a non-banking finance company, is now focussing more on retail business specifically for the commercial vehicle sector following its purchase of IIFL. (In 2019, IndoStar Capital acquired the entire commercial vehicle assets that were under management by IIFL Holdings Limited (an Indian diversified financial services company headquartered in Mumbai and founded by Nirmal Jain) for USD509m along with its employees and 161 branches.
Corporate and real estate loans were estimated at 34 per cent of its portfolio during the quarter ended September, while retail advances for CVs now accounted for 66 per cent. IndoStar says it has also reduced the corporate and real estate loan book to USD493m from a peak of USD845m previously).
