IndoStar recommends the appointment of Randhir Singh as Whole-Time Director designated as Executive Vice Chairman to the members of the Company

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MUMBAI, India, May 15, 2024 /PRNewswire/ — IndoStar Capital Finance Limited (IndoStar) today announced that its Board of Directors has recommended the appointment of Randhir Singh as the Whole-Time Director designated as Executive Vice Chairman of the company. Randhir Singh was most recently the Joint CEO of APAC Financial and brings 29 years of experience in Financial Services with leadership roles at Citibank, Deutsche Bank and Edelweiss Financial Services. He will partner with the management team to deliver the growth strategy and drive value creation at Indostar. Randhir’s appointment is subject to shareholder approval, post-which Randhir will be joining the company.

Commenting on the recommended appointment, Bobby Parikh, Chairman of IndoStar, said, “We welcome Randhir to IndoStar and look forward to working with him and the rest of the leadership team to execute on IndoStar’s strategy to become a leading player in core retail, secured asset categories.”

Randhir Singh commented that, “I am delighted to be joining IndoStar at this juncture of its growth journey. The company has strong momentum and I look forward to working with Karthik and the leadership team to continue to execute our focused strategy and build the business to its full potential.”

Karthikeyan Srinivasan, CEO of IndoStar, further added: “On behalf of the leadership team and IndoStar, we extend a warm welcome to Randhir. We look forward to working together to continue executing our strategy and build the business to its full potential.”

About IndoStar Capital Finance Limited

IndoStar is a non-banking financial company (NBFC), registered with the Reserve Bank of India classified as a middle layered NBFC. With Brookfield & Everstone as Co-Promoters, IndoStar is a professionally managed and institutionally owned entity engaged in providing used and new commercial vehicle financing and affordable Home Finance through its wholly owned subsidiary, IndoStar Home Finance Private Limited.For more information, visit www.indostarcapital.com.

Safe Harbor

This document is to provide the general background information about the Company’s activities as at the date of the release. The information contained herein is for general information purposes only and based on estimates and should not be considered as a recommendation that any investor should subscribe / purchase the company shares. The Company makes no representation or warrant, express or implied, as to, and does not accept any responsibility or liability with respect to, the fairness, accuracy, completeness or correctness of any information contained herein. This release may include certain forward-looking statements. These statements include descriptions regarding the intent, belief or current expectations of the Company or its directors and officers with respect to the results of operations and financial condition of the Company. These statements can be recognized by the use of words such as ”expects”, “plans”, ‘will”, “estimates”, “projects”, or other words of similar meaning. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those in such forward-looking statements as a result of various factors and assumptions which the Company believes to be reasonable in light of its operating experience in recent years. The risks and uncertainties relating to these statements include, but not limited to, risks and uncertainties, regarding fluctuations in earnings, our ability to manage growth, competition, our ability to manage our international operations, government policies, regulations, etc. The Company does not undertake any obligation to revise or update any forward-looking statement that may be made from time to time by or on behalf of the Company including to reflect actual results, changes in assumptions or changes in factors affecting these statements. Given these risks, uncertainties and other factors, viewers of this release are cautioned not to place undue reliance on these forward-looking statements. This release may contain certain currency exchange rates and the same have been provided only for the convenience of reader.

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