NEW DELHI: Private equity firm EQT has agreed to purchase 100 per cent of Indostar Home Finance, a subsidiary of Indostar Capital Finance Ltd, for Rs1,750 crore.
The Sweden-based firm announced that the acquisition will be made through the BPEA Mid-Market Growth Partnership (MMG fund), subject to regulatory approval, according to a joint statement released on Friday.
Founded in 2017, Indostar Home Finance focuses on affordable mortgages for retail customers in tier 2 to tier 4 cities across India and has assisted over 39,000 low-income homeowners and small businesses.
EY India workplace issues
EY India chairman Rajiv Memani expressed deep regret for missing the funeral of a 26-year-old employee, whose mother attributed her death to work-related stress, and vowed to work tirelessly to create a harmonious workplace.
Anna Sebastian Perayil, who cleared her CA exams in 2023, had been employed at EY’s Pune office for four months before her passing in July.
In a letter addressed to Memani, her mother claimed that Anna had been overwhelmed by a “backbreaking” workload that took a toll on her physical, emotional, and mental health. The government has also announced plans to investigate the work environment at the Big Four firm.
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