IndoStar Capital Finance Limited (IndoStar) has agreed of the sale of its subsidiary IndoStar Home Finance Private Limited (IHFPL) to WITKOPEEND BV, an affiliate of global private equity investor BPEA EQT Mid-Market Growth Partnership (EQT), for approximately $209m.
The transaction is subject to customary closing conditions, including receipt of RBI approval, consents from lenders and shareholders approval. According to a press statement EQT plans to invest an additional $59m into IHFPL “upon or shortly after closing of the transaction, and the board of IHFPL has granted an in-principle approval for such infusion”.
The transaction will provide IndoStar with capital for accelerated growth and value creation in its core verticals of Vehicle Finance and Small Business Loans.
