JM Financial, IndoStar Exploring Strategic Options For Home Loan Portfolio

JM Financial Home Loans Ltd. and IndoStar Capital Finance Ltd. are exploring potential strategic options for their home finance and retail mortgage portfolios.

The options include 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, the companies said jointly in a stock exchange announcement.

The discussions are currently at a preliminary stage and non-binding in nature.

Any transaction will be subject to satisfactory due diligence, negotiation of commercial terms, execution of definitive agreements and receipt of all relevant regulatory and other approvals.

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