Starteck Finance Limited, established in August 1985, is a Non-Deposit taking Non-Systemically Important (ND-NSI) finance company registered with the Reserve Bank of India (RBI). The firm is involved in financing industrial and other enterprises. It expanded its operations by acquiring Chitta Finlease Private Limited in FY 2015-16. In 2019-20, Starteck incorporated Starteck Housing Finance Private Limited to enter the housing finance sector but divested this subsidiary by January 2022.
In a strategic move, Starteck successfully acquired Bhuwalka Steel Industries Limited (BSIL) through a resolution plan approved by the National Company Law Tribunal (NCLT) in June 2022, as part of the Corporate Insolvency Resolution Process. The acquisition made BSIL a wholly-owned subsidiary of Starteck as of November 9, 2022. This acquisition marks a significant expansion into the steel industry, highlighting Starteck's strategic focus on diversification and growth through acquisitions.
