IndoStar Capital Finance Limited (the Company) and ICICI Bank have entered into a sourcing and servicing arrangement to partner in extending credit to small and medium fleet owners to purchase used and new commercial vehicles across its 322 branches. Under this partnership, the Company will originate and service the customers through the entire loan life-cycle including sourcing, documentation, collection and loan servicing and in turn ICICI Bank will provide funding to these customers.
Definitive Agreements for the said arrangement including the Sourcing Agent Agreement and Service Provider Agreement have been executed between ICICI Bank and the Company on 18 June 2019.
Shares of ICICI BANK LTD. was last trading in BSE at Rs.422.2 as compared to the previous close of Rs. 414.4. The total number of shares traded during the day was 637260 in over 6489 trades.
The stock hit an intraday high of Rs. 425.9 and intraday low of 415.05. The net turnover during the day was Rs. 268580141.
Shares of Indostar Capital Finance Ltd was last trading in BSE at Rs.375 as compared to the previous close of Rs. 368.65. The total number of shares traded during the day was 968 in over 80 trades.
The stock hit an intraday high of Rs. 381.8 and intraday low of 370.55. The net turnover during the day was Rs. 364294.