The fresh investment by Brookfield
will support the continued growth of IndoStar’s retail business.
“We are delighted to partner with a reputable global investor such as Brookfield and welcome them to the IndoStar family. We see opportunities to continue delivering substantial value to IndoStar’s customers, employees and investors,” IndoStar Chairman Dhanpal Jhaveri said. He is also the vice-chairman of Everstone India.
Aditya Joshi, senior vice- president, Brookfield, said, “We believe in the long-term secular growth runway of the Indian retail financial services sector. IndoStar has an experienced management team and a strong position in attractive and growing retail lending segments. We look forward to partnering with Everstone and the IndoStar management team to further scale the business.”
IndoStar Capital Mauritius continues to be the promoter and an active shareholder in IndoStar which it built from the ground up since 2011. IndoStar has assets under management of Rs 10,600 crore.