In continuation to letter with reference no. ICFL/LS/0285/2018-19 dated 4 February 2019 informing execution of definitive agreement on Sunday, 03 February 2019 for acquisition of the Commercial Vehicle Finance Business of India Infoline Finance Limited (IIFL) on a going concern basis, for consideration to be determined on the closing date, Indostar Capital Finance has informed that the Company and IIFL executed closing agreement(s) on Sunday, 31 March 2019 for acquisition of Commercial Vehicle Finance Business of IIFL comprising Assets Under Management of Rs 3,620 crore (On-book - Rs 2,328 crore & Off-book - Rs 1,292 crore), employees, branches and infrastructure, at a net purchase consideration of Rs 2,419.36 crore (subject to closing adjustments).
The above information is a part of company’s filings submitted to BSE.
