IndoStar Capital Finance Limited on August 25, 2023 has sold a significant portion of its legacy corporate loan book worth 915 crs to Phoenix ARC. This is a significant portion of the corporate loan book which was at 1190 crs as on March 31 2023.
Post the transaction, the share of the retail lending book in the company’s assets under management has increased from 85% to about 95%.
This is a decisive step and a major shift towards a pure retail lending book which the management was focusing on since couple of years. This will free up a lot of funds and reduce a lot of risk that was concentrated with couple of customers, the same was mentioned in the latest Q1 FY24 earnings conference call.
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