SK Finance files DRHP for Rs 2,200-cr IPO

New Delhi: Vehicle finance and business loans-focused non-bank lender SK Finance has filed preliminary papers with capital markets regulator Sebi to garner Rs2,200 crore through an initial share sale. The proposed initial public offer (IPO) is a combination of a fresh issue of equity shares worth Rs 500 crore and an offer for sale (OFS) of up to Rs1,700 crore by promoters and investor shareholders, according to the draft red herring prospectus (DRHP) filed on Wednesday.

As a part of the OFS, Norwest Venture Partners X-Mauritius and TPG Growth IV SF PTE Ltd will offload shares worth Rs700 crore each, Evolvence Coinvest I will divest shares to the tune of Rs75 crore and Evolvence India Fund III Ltd will sell shares worth Rs25 crore.