ANIBoth the companies focus on the affordable housing market.
"The companies are engaged in preliminary discussions to explore potential strategic options including potential combination and listing of the retail mortgage portfolio of JM Financial and the home finance business of Indostar Home Finance Private Limited including other mortgage-backed business of Indostar," JM Financial said in a regulatory filing to stock exchanges.
JM Financial Home Loans Limited has assets under management of Rs 1272 crore at the end of December 2022 while it operates through 78 branches across nine states in the west and the south. Its average loan size is s. 12 lakhs and loan to value of 55% as of December 2022.
IndoStar Home Finance, a wholly owned subsidiary of IndoStar Capital Finance, has an AUM of 1526 crore at the end of December 2022. It has 135 branches across 10 states.
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