PE Fund Investments
EQT to acquire 100% stake in Indostar Home Finance for Rs.1,750-Cr
Press Release Business Standard
Mumbai-based affordable housing finance company Indostar Home Finance (wholly-owned subsidiary of Indostar Capital Finance) has been fully acquired by global investment firm EQT (via BPEA Mid-Market Growth Partnership fund) for INR 1,750 crore (USD 210 million). EQT will also invest an additional INR 500 crore to fuel the company’s geographic expansion and digital transformation.Founded in 2017, Indostar Home Finance provides affordable mortgages to retail customers in tier 2 to tier 4 cities and has supported over 39,000 low income homeowners and small businesses. The company claims to have scaled to more than INR 2,400 crore in assets under management, achieving a 32% compounded annual growth in the last three years. Indostar Home Finance has a network of more than 130 branches spread across nine states and employs over 1,000 people.
For FY23, Indostar Home Finance had reported about INR 208.30 Cr in Operating Income and about INR 37.78 Cr in PAT.
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