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about IndoStar

IndoStar is a non-banking finance company "NBFC" registered with the Reserve Bank of India as a systemically important non-deposit taking company. We are a professionally managed and institutionally owned organisation engaged in providing structured term financing solutions to corporates, used and new Vehicle Financing for transporters, Home Finance through our wholly-owned subsidiary IndoStar Home Finance Private Limited and loans to SME borrowers in India.  We have loans to suit your requirements so that your life takes-off.  We are committed to finding new ways to develop value-based and innovative financial solutions for our customers.

Credit Ratings

IndoStar is rated by CARE Rating Ltd., ICRA Limited, CRISIL Limited and India Rating & Research Private Limited (Fitch Group). IndoStar enjoys AA - (minus) rating for Long-Term borrowings and highest short-term rating of A1 + (plus) for Short-Term borrowings.

Long-Term

Instrument Debt Programme

Instrument Market Linked Debentures

Short-Term

Instrument Commercial Paper

Board of Directors

  • Bobby Parikh

    Bobby Parikh

    Bobby Parikh is the Chairman and Non-Executive Independent Director on the board of IndoStar. He has nearly three decades of experience in financial services industry/reorganisations. Mr. Parikh’s area of focus is providing tax and regulatory advice in relation to transactions and other forms of business reorganizations. He has founded Bobby Parikh Associates, a boutique firm focused on providing strategic tax and regulatory advisory services. Mr. Parikh is a qualified Chartered Accountant from the Institute of Chartered Accountants of India and holds a Bachelor of Commerce degree from the University of Mumbai.

  • R Sridhar

    R. Sridhar

    R. Sridhar is the Executive Vice-Chairman and CEO of IndoStar. He has over three decades of experience in the financial services industry. Prior to IndoStar, he was associated with the Shriram Group since 1985 and held the position of Managing Director & CEO of Shriram Transport Finance Company Limited for over a decade since the year 2000. Under Mr. Sridhar’s leadership, the Company is expanding its retail businesses, while nurturing its well established corporate lending business. Mr. Sridhar is a qualified Chartered Accountant from the Institute of Chartered Accountants of India and holds a Bachelor’s degree in Science.

  • Dhanpal Jhaveri

    Dhanpal Jhaveri

    Dhanpal Jhaveri is a Non–Executive Director of IndoStar. He has over two decades of experience in investments, strategy, M&A and investment banking. Currently, he is a Managing Partner at the Everstone Group. Prior to joining Everstone, Dhanpal worked as Director (Corporate Strategy) with Vedanta Resources Plc. His previous assignments include being the Head of Investment Banking at ICICI Securities, and Partner for Corporate Finance at KPMG. Mr. Jhaveri holds a degree in Bachelor of Commerce from the University of Mumbai and an MBA from Babson College, USA.

  • Vibhor Talreja

    Vibhor Talreja

    Vibhor Talreja is a Non-Executive Director of IndoStar. Mr. Talreja joined Everstone in 2019 as a Managing Director to lead the financial services sector along with other responsibilities. Prior to joining Everstone, he was working as a Director with Temasek India for over 12 years, where he led decision making on investments and divestments of over $2 billion each across both private and public transactions. Mr. Talreja has extensive experience in Financial Services, Industrial/Consumer, Real Estate & Telecom sectors and has worked with JM, Morgan Stanley and Tata Administrative Services. He is an alumnus of IIT Kanpur and IIM Bangalore.

  • Aditya Joshi

    Aditya Joshi

    Aditya Joshi is a Managing Director in Brookfield's Private Equity Group, and heads the private equity business for Brookfield in India. Mr. Joshi was responsible for conceptualizing Brookfield’s private equity strategy for India, nurturing and developing a high-quality team, building a robust sourcing engine, and leading deal execution and ongoing portfolio monitoring. Mr. Joshi joined Brookfield in March 2019. Prior to Brookfield, Mr. Joshi was a Principal at Apax Partners in India, and led and participated in deals across healthcare, technology services, and financial services. Prior to Apax, Mr. Joshi worked at The Blackstone Group in India, where he focused on investment opportunities primarily across technology services and business services. Prior to Blackstone, Mr. Joshi worked at Morgan Stanley in India, where he worked on fund raising and mergers and acquisitions across technology services, business services, telecom, amongst other industries. Mr. Joshi holds a Master of Business Administration degree from The Wharton School, University of Pennsylvania, a bachelor’s degree in accounting and finance from the University of Pune, and is a Chartered Accountant and member of The Institute of Chartered Accountants of India. Mr. Joshi is a member of FICCI’s National Committee on Private Equity for India.

  • Munish Dayal

    Munish Dayal

    Munish Dayal is a Non-Executive Director of IndoStar. Mr. Dayal is Managing Director - Private Equity & Business Operations at Brookfield Asset Management (BAM) and has over three decades of experience in financial services. Prior to joining BAM, Mr. Dayal was Senior Operating Partner at Baring Private Equity Partners India Limited with hands-on engagement with portfolio companies in BFSI, technology and commercial real estate. Mr. Dayal has also held senior positions in Yes Bank Limited and Citibank and has expertise in risk management, lending to medium and small sector enterprises, cash management, payment services, trade products and banking technology. Mr. Dayal is a commerce graduate from Shri Ram College of Commerce, University of Delhi and completed his master’s in business administration from Faculty of Management Studies, University of Delhi.

  • Hemant Kaul

    Hemant Kaul

    Hemant Kaul is a Non-Executive Independent Director of IndoStar. He has vast experience as an independent management consultant, having worked with private equity firms to evaluate investments in the financial sector. Earlier, Mr. Kaul has also been the MD & CEO of Bajaj Allianz General Insurance Co Ltd. and the Executive Director of Axis Bank. Mr. Kaul holds a Bachelor’s degree in Science and a Master’s degree in Business Administration from Rajasthan University.

  • Naina Krishna Murthy

    Naina Krishna Murthy

    Naina Krishna Murthy is a Non-Executive Independent Director on the board of IndoStar. She has more than two decades of experience in the legal sector. She is the Founder and Managing Partner of Krishnamurthy & Company. She is also a trusted legal advisor to numerous corporations. Over the years, Mrs. Murthy has built a strong reputation in corporate commercial law, specifically in the areas of mergers and acquisitions, joint ventures, collaborations and PE/VC investments. She was recognised by India Business Law Journal as ‘A List’ of India’s top 100 lawyers in 2018, 2017 and 2016. She holds a degree in Law, with a B.A. and LLB (Hons) from National Law School, Bangalore.

Management

  • R. Sridhar

    R. Sridhar

    R. Sridhar is the Executive Vice-Chairman and CEO of IndoStar. He has over three decades of experience in the financial services industry. Prior to IndoStar, he was associated with the Shriram Group since 1985 and held the position of Managing Director & CEO of Shriram Transport Finance Company Limited for over a decade since the year 2000. Under Mr. Sridhar’s leadership, the Company is expanding its retail businesses, while nurturing its well established corporate lending business. Mr. Sridhar is a qualified Chartered Accountant from the Institute of Chartered Accountants of India and holds a Bachelor’s degree in Science.

  • Deepak Jaggi

    Deep Jaggi

    Jaggi is the Chief Business Officer at IndoStar. He will be based out of the Mumbai Office and report to Mr. R. Sridhar, Executive Vice Chairman and CEO, IndoStar Capital Finance. He joins from HDB (wholly owned subsidiary of HDFC Bank Ltd), where he was head of Asset Finance for the past 10 years and was responsible for the P&L of Commercial Vehicles, Construction Equipment, Passenger Vehicles and the Tractor businesses. He will head all the retail businesses, business development and collections. He has been associated with Cholamandalam Finance and Apollo Tyres in his earlier roles.

  • Jaya Janardanan

    Jaya Janardanan

    Jaya Janardanan is the Chief Operating officer and is associated with the Company from August 1, 2020. She holds a Master’s Degree in Financial Management, Mumbai University. She has over 25 years Banking Experience and has worked across multiple Banks like ICICI , INGVysya, Dhanlaxmi bank, JP Morgan Chase, Bank of America , Aditya Birla Payments Bank and Ujjivan Small Finance Bank. Her expertise has been in Operations, Technology and Digital Banking. As the COO she will handle Operations, Technology and Administration functions of IndoStar.

  • Amol Joshi

    Amol Joshi

    Amol Joshi is the Chief Financial Officer of the Company. He has over 21 years of leadership experience across India & Singapore in various areas of  Finance like Accounting, Business Planning, Reporting, Taxation, Systems Integration and Change Management. He has previously worked in Citicorp, Standard Chartered Bank, American Express and L&T Financial Services. He is responsible for accounting, tax, regulatory compliance, board related matters and investor relations. He holds a Bachelor’s degree in Commerce from University of Bombay and is a qualified Chartered Accountant.

  • B. Ravi Kumar

    B. Ravi Kumar

    B. Ravi Kumar, is a Business Head – Asset Finance and has been associated with the Company since 7th April 2021. He is a qualified Cost Accountant from Institute of Cost Accountants of India and also an Associated member, he has done Leadership Programme from IIM Bangalore and holds Bachelor Degree in Commerce from Badruka Collage of Commerce & Arts , Osmania University, Hyderabad. He has overall experience of 27 years and nearly two decades of experience in financial services industry. Prior to IndoStar, he was associated with Cholamandalam Investment & Finance Co Ltd., the Murugappa Group since 2002.  

  • Hansraj Thakur

    Hansraj Thakur

    Hansraj Thakur, is a Business Head - SME Finance and has been associated with the Company since April 3, 2017. He holds a Bachelor‘s degree in Commerce from University of Mumbai, and a Post Graduate diploma in Business Management with specialisation in Marketing and Finance from Ramprasad Khandelwal Institute of Management and Research. He has several years of experience in the fields of small and medium enterprises, commercial banking, and sales and relationship management. He has previously worked at IDFC Bank Limited and Standard Chartered Bank.

  • Shreejit Menon

    Shreejit Menon

    Shreejit Menon is the Business Head – Affordable Home Finance of IndoStar Home Finance Private Limited, Subsidiary of IndoStar Capital Finance Limited, since May 2, 2017. He holds a Bachelor’s degree in Commerce and Master’s degree in Management Studies from University of Mumbai. He has several years of experience with financial institutions like Religare Housing Development Finance Corporation Limited, Muthoot Housing Finance Company Limited and HSBC Limited.

  • Benaifer Palsetia

    Benaifer Palsetia

    Benaifer Palsetia is the Chief Human Resources Officer. She has 19+ years of experience in the entire gamut of HR - Compensation & Benefits, Reward & Retention, Business off-shoring, Talent Mgmt. & Acquisition, Culture Building, Training & Development. She was instrumental in setting up the leadership team for IDFC bank’s retail business. She has earlier worked with IDFC Bank, Credit Suisse and Citigroup. She has Masters in Economics and Masters in Labour Studies from Mumbai University.

  • Mohit Mairal

    Mohit Mairal

    Mohit Mairal is the Chief Risk Officer. He has over 20 years of experience in Underwriting, Collections, Risk Management and Sales  in banking and financial services sector and have handled a wide range of financial products including Car Loans, Commercial Vehicle Loans, Construction Equipment Loan, Tractor Loans, Two wheeler Loans and Personal Loans and Working Capital etc. Has worked with various Banks like ICICI Bank, HDFC Bank etc and NBFCs like GE Capital, Tata Capital, IIFL etc. He holds a Bachelor’s degree in Science and Maths from Nagpur university.

  • Siva Subramanian

    Siva Subramanian

    Siva Subramanian is the National Credit Manager - Vehicle Finance. He has 23+ years of experience in leading and directing start-ups, SME & Mortgage Lending, Commercial Vehicles Financing and Unsecured Lending for Global Financial Corporations. He has held major roles in Fullerton India, Citicorp Finance India, Ashok Leyland Ltd and Equitas Small Finance Bank. He is a B.E. (MECH) from Thiagarajar College of Engineering, Madurai and an MBA in Finance from NIT, Trichy

  • Sudeep P S

    Sudeep P S

    Sudeep P S is the National Credit Head – SME Finance. He has more than 20 years of experience, including 16+ years of relevant experience in Credit, Operations and  Risk in Loans Against Property and Home Loans. He has gained additional experience in Accounting, Audit and Entrepreneurship during the initial phase of his career. His prior experience includes ICICI Bank, Deutsche Postbank Home Finance, Edelweiss Capital & Bajaj Finance. He holds MBA in Finance from Oxford Brookes University, UK, a Bachelor’s  Degree in Commerce and is currently pursuing Senior Management Program from IIM, Kozhikode.

  • Shripad Desai

    Shripad Desai

    Shripad Desai is the National Credit Manager - Home Finance. He has 18+ years of experience across Construction Finance, Mortgage Lending, SME sales and risk management functions. He has worked with Deutsche Bank, L&T Housing Finance, Reliance Home Finance, Standard Chartered Bank, Centurion Bank of Punjab, IDBI Bank, ICICI Bank and Gruh Finance. He is an MBA from MGM Institute of Management and he holds a diploma in Taxation Law from MP Law College.

  • Jitendra Bhati

    Jitendra Bhati

    Jitendra Bhati is the Company Secretary and Compliance Officer; and has been associated with the Company since August 1, 2011. He holds a Bachelor’s degree in Commerce from Jai Naraian Vyas University, Jodhpur, and a Bachelor’s degree in Law from University of Mumbai. He is a fellow member of Institute of Company Secretaries of India. Further, he holds a Post-graduation diploma in International Business and Finance from Jai Naraian Vyas University, Jodhpur, a Post-graduation diploma in Business Management from the Institute of Management Technology and a Post Graduate diploma in Securities Law from Government Law College, Mumbai. He has previously worked at Future Capital Holdings Limited, and has experience in the fields of legal, secretarial and compliance.

  • Salil Bawa

    Salil Bawa

    Salil Bawa is Head of Investor Relations of the Company. He has over 20 years of leadership experience in Investor Relations and Strategy across various sectors including IT, Telecom, Diversified BFSI. He has previously worked in HCL Technologies, Hughes Software Systems, Bharti, Edelweiss, Manappuram, wherein he was closely associated with Investor Relations and Strategy. He did his Bachelors from Delhi University and joined International Management Institute post that.

Committee Composition

We are a professionally managed and institutionally owned organization.

Audit Committee

  • Bobby Parikh

    Chairman
  • Aditya Joshi
  • Naina Krishna Murthy
  • Hemant Kaul

Nomination & Remuneration Committee

  • Hemant Kaul

    Chairman
  • Aditya Joshi
  • Dhanpal Jhaveri
  • Bobby Parikh

Risk Management Committee

  • Hemant Kaul

    Chairman
  • R. Sridhar
  • Vibhor Talreja
  • Munish Dayal
  • Amol Joshi
  • Mohit Mairal

Stakeholders Relationship Committee

  • Dhanpal Jhaveri

    Chairman
  • R. Sridhar
  • Munish Dayal
  • Bobby Parikh
  • Naina Krishna Murthy

Corporate Social Responsibility Committee

  • Naina Krishna Murthy

    Chairman
  • Bobby Parikh
  • Dhanpal Jhaveri
  • R. Sridhar
  • Munish Dayal
  • Promoter and Promoter Group

    59.30%
  • Foreign Portfolio Investor

    12.10%
  • Mutual funds/Financial institutions/Banks

    11.16%
  • Other

    17.44%

CSR at IndoStar

Corporate social responsibility is an integral part of our company culture. As a responsible corporation, we respect the interests of our Stakeholders-our shareholders, employees, customers, suppliers, teaming partners, and the wider community. Also, we actively seek opportunities to improve the environment and contribute to the well-being of communities in which we operate. Our CSR initiative focuses mainly in the areas of sanitation, education and women empowerment through skilling and development.

CSR
  • Avasara Academy

    Promoting Education

    AVASARA ACADEMY

    Through Avasara Academy, IndoStar has contributed towards providing education to adolescent girls from economically weaker sections of the society. Based on the Cambridge curriculum, with an emphasis on leadership, entrepreneurship, and Indian studies, the Academy is equipping young women with essential tools to navigate life after school. Set up as a residential learning programme in Pune, the Academy continues to expand, introducing new facilities such as libraries and hostel accommodation. The students and their parents have changed their perception of receiving education; parents are now willing to send their kids to school to complete their schooling. The teaching techniques used here are more practical which prepares students for real life scenarios. The students get an equal opportunity to actively involve themselves in sports as they have access to the Oxford Golf ground in Pune.

  • Empowering Women

    Empowering Women

    Population First

    This initiative promotes the economic empowerment of women through vermi-composting. Learning this skill equips members of villages with a lifelong method of earning money while living a healthier life. Women have become more confident and have the ability to contribute towards household incomes, while also being further committed to developing their marketing skills to increase sales. Children in schools are learning the importance of hygiene and have become advocates for the construction of kitchen gardens and soak pits in their community.

Sanitation

Sanitation
Centre for Environmental Research and Education (CERE)

Under the Water Conservation and Rainwater Harvesting Project, conducted at the Ploice HQ in Naigaon, IndoStar contributed towards the augmentation of water for the police family of the region. This project has yield notable environmental and social outcomes:

  • Harvesting 38.8 million litres of rain water every year.
  • Increase in ground water table of the entire Naigon precinct area in Dadar.
  • Recharge of defunct bore wells.
  • Decrease in soil salinity and salt water ingress
  • Better maintenance of 3 large police grounds which is used for training, parades and sports
  • Improved living conditions in police colonies as they used the water for household chores
  • Promotion of environmental sustainability within police force
  • Water access for tree plantation drive in the police colonies

All the members of the police community have been enthusiastically involved in this project, being actively involved in CERE to complete it on time. The families were trained on the usage and saving of water, thus, helping a deserving section of society that is usually ignored.