IndoStar Capital Finance Limited was incorporated as a Private Limited Company with the name 'R V Vyapaar Private Limited' on July 21, 2009. The Company was registered as a non-public deposit taking NBFC pursuant to a Certificate of Registration dated June 17, 2010, issued by the RBI. For business and commercial reasons, the name of the Company was changed to 'IndoStar Capital Finance Private Limited' on November 15, 2010. The Company became a Public Limited Company and the name was changed to 'IndoStar Capital Finance Limited' on May 28, 2014.
The Company is registered with the Reserve Bank of India (RBI) as a Non-Banking Financial Company. The Company is primarily engaged in lending business. In 2011, the company received investment from Indostar Capital. In 2012, the company entered into its first loan facility agreement. During the year under review, the company received long term external credit rating of CARE AA- from CARE for long term facilities of Rs 500 crore. It also received external credit rating of CARE A1+ from CARE for its proposed commercial papers with a limit of Rs 50 crore.
In 2015, the company launched SME finance business with the disbursement of first SME loan. During the year under review, IndoStar Credit Fund (managed by IAAPL) was registered with SEBI.
In 2016, the company incorporated a wholly-owned subsidiary under the name IndoStar Home Finance Private Limited (IHFPL) for housing finance business. During the year under review, the company implemented an enterprise-wide loan management system OmniFin. During the year under review, IHFPL received license from NHB to carry on the business of a housing finance institution without accepting public deposits.
In 2017, the company disbursed its first housing loan. During the year under review, the company launched vehicle finance business and disbursed its first vehicle finance loan.
In 2018, the company opened its 100th branch and reached employee count of 1,000.
The Company launched the IPO of 32,237,762 equity shares of face value of Rs 10 each, by raising funds aggregating to Rs 1844 Cr, comprising a fresh issue of 12,237,762 equity shares amounting to Rs 700 Cr and the offer for sale of 20,000,000 equity shares amounting to Rs 1144 Cr in May, 2018.
The Company acquired the CV Finance business of India Infoline Finance Limited (IIFL), which helped it to double the distribution footprint to 322 branches in 2019. The Company broadened the retail lending business, which includes CV Finance, SME Finance and Affordable Housing Finance.
Brookfield Business Partners L.P., one of the largest asset managers in the world, with US$ 500+ billion under management, invested Rs 1225 Crore as primary capital into the Company in 2020, and thereby became a promoter, along with IndoStar Capital Mauritius with effect from July 9, 2020. The Company added a network of 186 branches across Commercial Vehicle and Affordable Housing Finance businesses in FY 2022. The branch network grew to 124 in FY2024 from 77 in FY2023. It reduced the stressed portfolio by selling a portion of its SME loan portfolio totalling Rs 332 Crore in FY 2024. IndoStar has established a presence in 23 states with 515 branches, including Tier 3 and 4 cities in FY 2024.
The Company added 55 branches by growing the network to 446 locations in FY 2025. The major launch was the Micro LAP business, designed for small businesses and rural entrepreneurs through branches in 2025.