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

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.

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