IndoStar Capital Finance Ltd receives RBI nod for stake sale in Niwas Housing Finance Pvt Ltd

The board of directors of IndoStar Capital Finance Limited ("Company") had earlier announced, subject to shareholder, regulatory and other approvals and other customary conditions precedent, for sale of the Company's shareholding (along with shares held by its nominee shareholders) in its subsidiary, Niwas Housing Finance Private Limited ("NHFPL") to Witkopeend B.V. (the "Purchaser") in accordance with the terms of the share purchase agreement dated September 19, 2024 among the Company, NHFPL and the Purchaser ("Share Purchase Agreement") ("Transaction").

The Reserve Bank of India ("RBI") has accorded its approval on March 21, 2025 for:

(i) acquisition of shareholding of up to 100% of the paid-up equity capital of NHFPL by the Purchaser, i.e. the Transaction, in terms of paragraph 45 of Master Direction - Non-Banking Financial Company-Housing Finance Company dated February 17, 2021 ("HFC Directions"), vide letter dated March 21, 2025, subject to the conditions as set out therein (including the requirement for prior public notice as per paragraph 47.1 of the HFC Directions of a reduced period of 7 (seven) days); and

(ii) change in management due to appointment of nominees of the Purchaser on the board of directors of NHFPL (i.e. upon consummation of the Transaction), in terms of paragraph 45(3) of the HFC Directions, vide letter dated March 21, 2025.

Shares of IndoStar Capital Finance Limited was last trading in BSE at Rs. 297.05 as compared to the previous close of Rs. 293.65. The total number of shares traded during the day was 16318 in over 1039 trades.

The stock hit an intraday high of Rs. 300.00 and intraday low of 287.15. The net turnover during the day was Rs. 4788954.00.

Source : Equity Bulls

Keywords

IndoStarCapitalFinance INE896L01010 NBFC StakeSale NiwasHousingFinance RBI Approval WitkopeendBV ManagementChange