Initiate coverage with a BUY (TP of Rs 549, 1.5xMar-21E ABV of Rs 366). Promoted and run by professionals, Indostar Capital Finance (INDOSTAR) is an NBFC, with a presence spanning multiple segments (unlike other NBFCs with a monoline business). After commencing operations as a special situation corporate and developer financier, INDOSTAR managed to pull off a transition to retail lending (fashionable).