IndoStar Capital Finance Limited (ICFL) is registered with the RBI as a non-deposit taking NBFC and was founded and incorporated by private equity players (Everstone, Goldman Sachs, Baer Capital Partners, ACPI Investment managers, and CDIB International) with an initial capital of around Rs 900 crore. In May 2020, Brookfield invested Rs 1,225 crore and became the largest shareholder and co-promoter. As of June’24, Brookfield holds 56.20% stake, followed by the Everstone group) at 17.40%.