JM Financial, IndoStar Call Off Plan To Merge Home Loan Portfolio

JM Financial Home Loans Ltd. and IndoStar Capital Finance Ltd. agreed not to pursue potential transaction for their home finance and retail mortgage portfolios.

Both the companies have mutually agreed not to proceed with the potential transaction after careful consideration, IndoStar said in a stock exchange announcement.

In April 2023, the companies agreed to explore potential strategic options for their home finance and retail mortgage portfolios.

The options included combination and listing of JM Financial’s retail mortgage portfolio and the home finance business of IndoStar Home Finance Private Ltd., including other mortgage-backed business of IndoStar.

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