Business
IndoStar Capital infuses Rs 250 cr in home finance arm
NEW DELHI: has acquired a 25 crore share in its home finance subsidiary for Rs 250 crore, the company said on Friday.
The company has acquired 25 crore fully paid equity shares of Rs 10 each aggregating to Rs 250 crore of IndoStar Home Finance, a fast-growing wholly-owned subsidiary of the company, it said in a regulatory filing.
“Subsequent to the investment of Rs 250 crore, the company’s investment in the share capital of IndoStar Home Finance increases from Rs 200 crore to Rs 450 crore,” it added.
Non-banking finance company IndoStar Capital Finance is engaged in corporate lending, SME finance, vehicle finance and home finance.
Shares of the company closed 0.35 per cent up at Rs 54.90 apiece on BSE.
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