IndoStar Capital Finance Ltd updates on sale of stressed portfolio

IndoStar Capital Finance Limited took a decisive step forward in its stated retailisation strategy by selling a significant portion of its stressed book to Pridhvi Asset Reconstruction and Securitisation Company Limited ("PARAS"). The sale consists of certain accounts that were tagged in Stage 2, aggregating to dues outstanding of Rs 356.78 crore.

The accounts have been resolved on August 27, 2024 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. 280.60 as compared to the previous close of Rs. 281.05. The total number of shares traded during the day was 94294 in over 1093 trades.

The stock hit an intraday high of Rs. 287.60 and intraday low of 275.45. The net turnover during the day was Rs. 26363496.00.

Source : Equity Bulls

Keywords

IndoStarCapitalFinance INE896L01010 NBFC StressedPortfolio Sale