IndoStar Capital Finance Ltd sells portion of its SME loan portfolio to Encore ARC

IndoStar Capital Finance Limited has taken one more decisive step forward in reducing stressed portfolio by selling a portion of its SME loan portfolio to Encore Asset Reconstruction Company. The sale consists of several stressed accounts, aggregating to principal outstanding of ₹ 292 crore.

The accounts have been resolved on 30th December 2023 through an ARC sale under the Swiss Challenge method in terms of Master Directions - Reserve Bank of India (Transfer of Loan Exposures) Directions 2021, as amended from time to time.

Shares of IndoStar Capital Finance Limited was last trading in BSE at Rs. 167.75 as compared to the previous close of Rs. 170.65. The total number of shares traded during the day was 8541 in over 95 trades.

The stock hit an intraday high of Rs. 170.65 and intraday low of 167.00. The net turnover during the day was Rs. 1437135.00.

Source : Equity Bulls

Keywords

IndoStarCapitalFinance INE896L01010 StressedPortfolio Reduction SMELoanPortfolio Sale EncoreARC