SK Finance Limited
| File:Skfinance logo.png | |
| Public | |
| ISIN | 🆔 |
| Industry | Non-banking financial company |
| Founded 📆 | 1994 |
| Founder 👔 | Rajendra Setia |
| Headquarters 🏙️ | Jaipur, Rajasthan, India |
Area served 🗺️ | |
Key people | Amar Lal Daultani (Chairperson) Rajendra Setia (MD & CEO) |
| Members | |
Number of employees | 9600+ |
| 🌐 Website | www |
| 📇 Address | |
| 📞 telephone | |
SK Finance Limited (formerly Ess Kay Fincorp) is an Indian non-banking financial company (NBFC) founded in 1994[1] and headquartered in Jaipur, Rajasthan. It is engaged in vehicle financing and lending to Micro, Small and Medium Enterprises (MSMEs).[2]
In 2024, the company received regulatory approval from the Securities and Exchange Board of India (SEBI) to launch an Initial Public Offering (IPO).[3]
History
SK Finance was established in 1994 by Rajendra Kumar Setia.[4] The company initially focused on vehicle financing and later expanded into asset-backed lending to self-employed individuals, with operations extending to rural and semi-urban areas.[5][6] It is licensed by the Reserve Bank of India (RBI)[7] and classified under the middle layer (NBFC-ML) as per the RBI's regulatory framework.[8]
As of September 2024, SK Finance operated 615 branches across 12 states and union territories in India. More than half of these branches are located in rural and semi-urban areas.[9]
As of 2025, SK Finance had a loan book of Rs. 13,261 crore, showing a 27% increase compared to the previous year. The company has filed for an IPO to raise Rs. 2,200 crore,[10] including Rs. 500 crore through a fresh issue and Rs. 1,700 crore through an offer for sale.[11] SK Finance is also expanding its business in the Small and Medium Enterprise (SME) lending segment.[12]
Funding and investors
In 2020, SK Finance raised Rs. 86 crore in debt funding from responsAbility Investments AG.[13]
In May 2021, the company raised Rs. 337 crore (about US$45 million) in a Series E fundraising round from investors including TPG Growth, Norwest Venture Partners, and Evolvence India.[14] In December 2021, the company secured Rs. 400 crore (approximately USD 53 million) in a Series F funding round led by IIFL Wealth, along with participation from other new investors.[13] This brought the total capital raised from external sources to over Rs. 1,000 crore.[15] In 2024, the company raised Rs. 1,328 crore in a funding round,[4] which included an investment of Rs. 415 crore by Motilal Oswal Private Equity for a minority stake.[16] Other investors in the company have included Baring India and the Asian Development Bank (ADB).[17]
In September 2024, SK Finance received regulatory approval from the SEBI to proceed with its IPO, following the submission of preliminary offer documents in March 2024.[18][19]
In December 2024, the company entered into a loan agreement with the Asian Development Bank (ADB) to support financing for women-led MSMEs and electric vehicles in India.[20]
See also
- Non-bank financial institution
- Ministry of Micro, Small and Medium Enterprises
References
- ↑ Parman, Beena (23 December 2021). "IIFL Wealth, others invest $53 mn in TPG Growth-backed SK Finance". VCCircle.
- ↑ "ADB and SK Finance join forces to enhance financing for women entrepreneurs and electric vehicles in India". Women's Tabloid. 2024-12-18. Retrieved 2025-05-17.
- ↑ Alex, Riya R (2024-09-02). "Sebi gives nod to SK Finance, Belstar Microfinance, and Transrail Lighting IPO, check details here | Stock Market News". mint. Archived from the original on 8 January 2025. Unknown parameter
|url-status=ignored (help) - ↑ 4.0 4.1 "SK Finance raises Rs 1,328 cr from TPG, Motilal Oswal". The Economic Times. 2024-01-23. ISSN 0013-0389.
- ↑ "SK Finance raises ₹1,328 crore via equity issuance". BusinessLine. 2024-01-24.
- ↑ "Pair act for ADB on USD100m loan to SK Finance". Law.asia. 2025-01-09.
- ↑ "SK Finance Limited: [ICRA]AA- (Stable) assigned; earlier rating reaffirmed". ICRA. Retrieved 8 January 2025.
- ↑ "SK Finance's planned IPO back on track, mulls geographical expansion". The Hindu. 2024-08-21. ISSN 0971-751X.
- ↑ "ADB Partners with SK Finance to Provide $100M Loan to Boost EV Financing and Women-Owned MSMEs in India | Business". Devdiscourse.
- ↑ Goel, Saloni (2025-06-27). "IPO Tsunami Incoming! NSDL, JSW Cement, Hero Fincorp among 74 companies with SEBI nod to float public offers | Stock Market News". mint. Archived from the original on 6 July 2025.
- ↑ "SK Finance loan book jumps 27 pc to Rs 13,261 cr in FY25; eyes Rs 2,200 cr via IPO". The Economic Times. 2025-07-15. ISSN 0013-0389.
- ↑ Karthik, Hamsini (July 17, 2025). "IPOs of SME lenders Veritas Finance & SK Finance likely in August". Moneycontrol.
- ↑ 13.0 13.1 Parmar, Beena (2021-12-23). "SK Finance raises ₹400 crore from IIFL Wealth and others". mint. Archived from the original on 9 September 2024. Unknown parameter
|url-status=ignored (help) - ↑ Ghosh, Shayan (13 May 2021). "Ess Kay Fincorp raises ₹337 crore". Mint.
- ↑ "How Norwest, TPG stand to mint money as SK Finance eyes $1 bn valuation in IPO". VCCircle.
- ↑ "Sebi puts SK Finance's Rs 2,200-crore IPO in abeyance". MoneyControl. 8 July 2024.
- ↑ "SK Finance raises ₹1,328 crore via equity issuance". BusinessLine. 2024-01-24.
- ↑ Matkar, Sunil Shankar. "Belstar Microfinance, Transrail Lighting, TPG-backed SK Finance get SEBI go-ahead for IPO". Moneycontrol. Archived from the original on 3 September 2024. Unknown parameter
|url-status=ignored (help) - ↑ Thayil, Pratiksha (2024-07-08). "SEBI Places SK Finance's Rs 2,200-Crore IPO On Hold". NDTV Profit.
- ↑ "ADB, SK Finance team up for $100 million loan to boost women-owned MSMEs, EVs in India". ThePrint. 2024-12-18.
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