SK Finance IPO soon

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What is the business of S K Finance?

S K Finance was established in 1994 by Rajendra Kumar Setia. It is a non-deposit taking non-banking finance company middle layer, operating in two verticals, vehicle financing and financing for Micro, Small and Medium Enterprises (“MSME”).

According to the CRISIL Report, it is the fastest growing player in the vehicle financing segment and the MSME financing segment among our peers analyzed, based on its assets under management (“AUM”) CAGR in the respective segment for the period between Fiscal 2021 and Fiscal 2023. In its vehicle financing vertical, it primarily has a secured, granular and retail loan portfolio for financing used and new commercial vehicles (excluding medium and heavy commercial vehicles) (“CVs (excluding M&HCVs)”), cars and tractors as well as new two-wheelers. According to the CRISIL Report, among the peers considered, for the nine months ended December 31, 2023, the Company had the highest used vehicle finance share of 77.41% as part of its vehicle financing portfolio. In addition, it has identified specific businesses in the MSME sector to which it offers loans. It started the MSME lending business in late 2016, where it primarily lend for the purpose of working capital requirements of these businesses. These loans are fully backed by assets and are offered, primarily for income generation purposes, to the mid to low-income category of customers that are predominantly self-employed, unbanked or underbanked individuals in the rural and semi-urban areas of India with limited access to organized lending channels.

S K Finance has an extensive distribution network in rural areas, through which it aims to provide last-mile coverage and financial support to unbanked customers. As of December 31, 2023, it has a distribution network of 535 branches in 11 states and one union territory. Out of 535 branches, it provides secured business loans to the MSME sector through 322 branches in eight states and one union territory, as of December 31, 2023, and it plans to gradually provide MSME financing from its existing untapped branch network. It sources its customers through two channels for its vehicle financing vertical – direct channel, i.e., through its on-ground sales teams, and the indirect channel of a well-diversified base of direct sales agents (“DSAs”). As of December 31, 2023, out of 10,725 employees, 6,202 employees and 1,607 employees were part of its sales and collection team, respectively for its direct channel. Further, it had 8,853 DSAs in its network as of December 31, 2023. 100.00% of sourcing for its MSME financing vertical is done through its direct.

For more information, click www.skfin.in

S K Finance IPO GMP grey market premium, review, Subscription, allotment, listing estimate

S K Finance IPO Review

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SK FINANCE IPO GMP grey market premium, review, Subscription, allotment, listing estimate