IndoStar Capital Finance share: On the last day of trading during the week, i.e. Friday, the market once more has created the record books. The Sensex has crossed the 84,000 mark for the first time.
At the same time, Nifty also touched an all-time high. Amidst this environment, there was also a huge demand for non-banking finance company Indostar Capital Finance Ltd (NSE: INDOSTAR) share.
On Friday, the price increased by more than 13%. Due to this rise, the stock reached Rs 343. This is the 52-week peak of the stock.
In November of last year, this stock had come down to a low of Rs 157. This is the 52-week lowest stock price.
This Is The Reason Behind The Rise In The Price
Indostar Capital Finance Ltd has sold its subsidiary IndoStar Home Finance for 1,750 crore rupees. The deal was concluded through Witkopind BV, an Amsterdam-based affiliate of the world’s private equity fund BPEA EQT Mid-Market Growth Partnership.
Indostar Capital Finance Ltd Chairman Bobby Parikh emphasized its strategic importance by stressing on renewed focus on core business areas. He said- We are confident that IndoStar Home Finance will continue to grow under the leadership of EQT.
What Did The Company’s Partner Say?
Ashish Aggarwal, Partner, Advisory Team, EQT Private Capital Asia said- Continuing our investment last year in the education finance sector through HDFC Credila, we are happy to welcome IndoStar Home Finance in our category.
IndoStar Home Finance Chief Executive Officer (CEO) Srijit Menon said that with the support and global expertise of EQT, we are well-positioned for rapid growth and success.
Details Of Shareholding Pattern
Promoters hold a 73.60 percent stake in Indostar Capital Finance Ltd. On the other hand, public shareholders hold 26.40 percent stake.
Quick Fact
| Company name | IndoStar Capital Finance |
|---|---|
| CEO | Srijit Menon |
| Chairman | Bobby Parikh |
| Stock price | 318 rupees (5.42%) |
| Stock price rise (Friday) | 13% |
| 52-week high | ₹343 |
| 52-week low | ₹157 |
| Reason for stock price rise | Sale of subsidiary (IndoStar Home Finance) |
| Subsidiary sale price | ₹1,750 crore |
| Buyer of subsidiary | Witkopind BV (affiliate of BPEA EQT Mid-Market Growth Partnership) |
| Focus after-sale | Core business areas |
| Stakeholders | Promoters hold 73.60%, public holds 26.40% |
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