IndoStar Capital mulls selling stake in housing finance unit: report

IndoStar Capital Finance may sell a part of its stake in a home loan subsidiary to raise resources to address concerns over the company's ability to continue as a going concern. The company, in which private equity players Brookfield, Everstone and others hold a majority stake, posted a 253% year-on-year (YoY) rise in net profit to INR 16 crore in the first quarter ended June 2022. Its assets under management grew 45% YoY to INR 1,467 crore in the same quarter.