JM Financial Home Loans Limited and Indostar Capital Finance Limited Explore Potential Strategic Options for their Home Finance and Retail Mortgage Portfolios

Mumbai, India, Monday, April 24, 2023: JM Financial Home Loans Limited (“JM Financial”) and Indostar Capital Finance Limited (“Indostar”), today announced that the companies are engaged in preliminary discussions to explore potential strategic options including potential combination and listing of the retail mortgage portfolio of JM Financial and the home finance business of Indostar Home Finance Private Limited including other mortgage-backed business of Indostar.

JM Financial has a long-term strategic interest in the home loan and such mortgage-backed businesses and looks forward to scaling these businesses to the next phase of its growth.

The discussions are currently at a preliminary stage and non-binding in nature and any transaction concerning JM Financial and Indostar will be subject to satisfactory due diligence, negotiation of commercial terms, execution of definitive agreements and receipt of all relevant regulatory and other approvals.

About JM Financial Home Loans

JM Financial Home Loans Limited (JMFHLL), a part of the JM Financial group is a Housing Finance Company registered with the National Housing Bank. JMFHLL has embarked on JM Financial Group’s strategy to expand into retail mortgages business. JMFHLL received the registration in November 2017 and is focusing on (i) affordable housing finance and (ii) smaller ticket loan against property. As of December 2022, JMFHLL has expanded to 78 branches across the states of Maharashtra, Gujarat, Rajasthan, Tamil Nadu, Telangana, Karnataka, Andhra Pradesh, Chattisgarh and Madhya Pradesh with a loan book of Rs.1,181 crore and AUM of Rs. 1,272 crore. It has an employee base of 779, an average ticket size of Rs. 12 lakhs and loan to value of 55% as of December 2022. JMFHLL’s long term debt is rated AA (Stable Outlook) by CRISIL Limited and ICRA Limited.

For more information on JM Financial Home Loans, please visit its website:

About Indostar Home Finance

IndoStar Home Finance Private Limited (IHFPL), registered with National Housing Bank, as a Housing Finance Company and a wholly owned subsidiary of IndoStar Capital Finance Limited, is a professionally managed organization which is engaged in providing affordable home finance across India. As of December 2022, IHFPL has expanded to 135 branches across 10 states with a loan book of Rs. 1,242 crore and AUM of Rs. 1,526 crore. It has an employee base of 684, an average ticket size of Rs. 7.5 lakhs and loan to value of 49% as of December 2022. IHFPL’s long term debt is rated AA- by CRISIL.

For more information,please visit its website:

For further details please contact:

JM Financial Home Loans Limited

Mr. Manish Sheth

MD & CEO, JM Financial Home Loans Limited

Phone: +91 22 5075 5010


Office address:

7th Floor, Cnergy,

Appasaheb Marathe Marg,

Prabhadevi, Mumbai - 400 025

Indostar Capital Finance Limited

Investor Relations Team



Office address:

5th Floor, Corporate Avenue, Wing 2/E

Andheri-Ghatkopar Link Road, Chakala

Andheri (East), Mumbai-400093


Statements in this press release describing JM Financial and Indostar’s performance or otherwise may be “forward looking statements” within the meaning of applicable securities laws and regulations. Actual results or outcomes may differ materially from those directly or indirectly expressed, inferred or implied. Important factors that could make a difference to JM Financial and Indostar’s operations include among other, economic conditions affecting demand / supply in markets in which the business operates, changes in or due to Government regulations, laws, statutes, judicial pronouncements and / or incidental factors.