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IndoStar Capital Finance to acquire CV finance business of IIFL

Wednesday, 06 Feb 2019
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IndoStar Capital Finance has inked a binding agreement to acquire the commercial vehicle (CV) finance business of India Infoline Finance (IIFL Finance), a material subsidiary of IIFL Holdings.

The acquisition includes the entire CV finance AUM of Rs 3,949 crore as on 31 December 2018, comprising Rs 2,450 crore of loan portfolio and Rs 1,499 crore of securitisation/assignment portfolio, together with 1,337 strong employee team located in 161 branches spread over 18 states.

The cmpany has achieved a gross disbursement in excess of Rs 3,000 crore for FY18 and Rs 1,723 crore for H1/FY19. The boards of both companies have approved the above transaction.

 
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