Latest News | IPO-bound S K Finance Raises Rs 1,328 Cr

Mumbai, Jan 24 (PTI) 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.

Also Read | Hazrat Ali Jayanti 2024 Date, History and Significance: Everything You Need To Know About Hazrat Ali Birthday.

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.

Also Read | Who Is Karpoori Thakur? Know All About Former Bihar CM Conferred Bharat Ratna Posthumously.

The latest fund infusion includes both fresh issue of shares and also secondary capital, it said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)