IndoStar Capital Finance Ltd. will sell a portion of its SME loan portfolio amounting to 39.5 crore rupees ($4.74 million) to Asset Reconstruction Company to reduce its stressed portfolio.

The company approved the sale transaction, the non-bank lender said in a stock exchange announcement.

The transaction is likely to conclude before 31 March.

IndoStar provides commercial vehicle financing, loans to SME borrowers and affordable home finance through its wholly owned subsidiary IndoStar Home Finance Private Ltd., according to its website.

Note: $1= 83.3507 Indian rupees

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