IPO-bound S K Finance raises Rs 1,328 cr

Vehicle finance and business loans-focused non-bank lender S K Finance has raised Rs 1,328 crore from investors.

Motilal Oswal Private Equity has pumped in Rs 415 crore for a minority stake in the 1994-incorporated, Jaipur-based company, as per a statement.

Existing shareholders Norwest Venture Partners, TPG Growth, Baring Private Equity India, and new investors Duro Capital, Axis Alternatives, Ananta Capital, and Mirae Asset Venture Investments were among the other investors in the round, it said.

The company has grown at a rate of 40 per cent annually on a compounded basis over the last six years till FY23, as per the statement. The latest fund infusion includes both fresh issue of shares and also secondary capital, it said.

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