India's IndoStar Capital jumps on $209 million deal to sell home finance unit to EQT
Shares of IndoStar Capital Finance climbed to an over three-year high on Friday, a day after the Indian non-bank lender announced a $209 million deal to sell its home finance unit to private equity firm EQT. The deal will allow IndoStar to focus on its core businesses of vehicle finance and small business loans, the company said in an exchange filing late on Thursday. Once the deal closes, EQT plans to invest 5 billion rupees ($59.84 million) in the affordable housing loan provider, IndoStar Home Finance.