IndoStar Capital Finance appoints Deep Jaggi as Chief Business Officer

IndoStar Capital Finance (ICFL), India's leading Non-Banking Finance Company announced further strengthening of the Senior Management team with the appointment of Deep Jaggi as Chief Business Officer. He will be based out of the Mumbai Office and report to Mr. R. Sridhar, Executive Vice Chairman and CEO, IndoStar Capital Finance.

Mr Jaggi joins from HDB (wholly owned subsidiary of HDFC Bank Ltd), where he was head of Asset Finance for the past 10 years and was responsible for the P&L of Commercial Vehicles, Construction Equipment, Passenger Vehicles & Tractor businesses. He has been associated with Cholamandalam Finance and Apollo Tyres in his earlier roles.

Mr. Jaggi, will head all the retail businesses, business development and collections. He joins ICFL at an inflection point, where the company, strengthened by the equity infusion from Brookfield Asset Management and equipped with one of the strongest balance sheets amongst the listed NBFCs in the country, is looking to take advantage of the sizeable post pandemic opportunity in the asset financing segment.

Welcoming Mr. Deep Jaggi on board, Mr. R Sridhar, Executive Vice Chairman and CEO, ICFL said, "I am delighted to welcome Deep to the team. We have defined a clear path to expand portfolio of retail loans for second-hand commercial vehicles and Affordable Housing. His extensive experience in retail lending will certainly be an asset to IndoStar.

Taking over his role, Mr. Deep Jaggi, Chief Business Officer, ICFL, said, "I am thrilled to join the team and look forward to strengthening the company's business, corporate and strategic initiatives. I look forward to further bolster IndoStar's customer reach with a clear focus on retail lending powered by Commercial Vehicles and Affordable Housing Finance."

Shares of Indostar Capital Finance Ltd was last trading in BSE at Rs.289.5 as compared to the previous close of Rs. 286.95. The total number of shares traded during the day was 502 in over 91 trades.

The stock hit an intraday high of Rs. 289.5 and intraday low of 284.9. The net turnover during the day was Rs. 143915.

Source : Equity Bulls

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