EQT to acquire Indostar Home Finance for $210m

EQT has announced its BPEA Mid-Market Growth Partnership (MMG fund) agreed to acquire a 100 percent stake in Indostar Home Finance, a wholly owned subsidiary of Indostar Capital Finance Limited, for INR 17.5 billion ($209 million).

Founded in 2017, Indostar Home Finance provides affordable mortgages to retail customers in tier 2 to tier 4 cities in India and has supported more than 39,000 low-income homeowners and small businesses. The company has rapidly scaled to more than INR 24 billion ($287 million) in assets under management, achieving a 32 percent compounded annual growth in the past three years. Indostar Home Finance has a network of more than 130 branches across nine states and employs more than 1,000 people.

The Indian housing finance market stands at more than INR 30 trillion ($359 billion), according to the Credit Rating Information Services of India Limited. The segment has recorded strong growth driven by government support, rising affordability, and urba