IndoStar Capital Finance Limited (IndoStar) announced today the successful completion of the sale of its wholly owned subsidiary, Niwas Housing Finance Private Limited (NHFPL), to Witkopeend B.V., an affiliate of global private equity firm BPEA EQT Mid-Market Growth Partnership (EQT).
The transaction, originally announced in September 2024, fetched IndoStar an aggregate consideration of approximately ₹1,705.95 crore. The proceeds will be deployed to strengthen IndoStar’s focus on its core businesses — vehicle finance and small business loans — and enhance liquidity and capital adequacy.
Randhir Singh, Executive Vice Chairman of IndoStar, said:
“The closure of this transaction represents a significant milestone in IndoStar’s journey. It strengthens our balance sheet and enables us to accelerate growth and profitability in our core verticals. We wish the Niwas Housing team continued success on their journey ahead.”
The sale was facilitated with Daiwa Corporate Advisory India and Ambit Private Limited acting as exclusive financial advisors, Cyril Amarchand Mangaldas as legal counsel, and EY and Samvad Partners assisting with due diligence.
IndoStar also announced that it will host an investor meet in the coming weeks to outline its updated business strategy and growth path.
About IndoStar:
IndoStar is a middle-layered NBFC registered with the Reserve Bank of India, backed by co-promoters Brookfield and Everstone. It focuses on used and new commercial vehicle financing and small business loans in India’s tier 3 and tier 4 towns.
