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How Norwest, TPG stand to mint money as SK Finance eyes $1 bn valuation in IPO

VCCircle

VCCircle · 1y ago

How Norwest, TPG stand to mint money as SK Finance eyes $1 bn valuation in IPO

Non-banking lender SK Finance is preparing for an initial public offering (IPO) and is eyeing a valuation of $1 billion. The company recently concluded a pre-IPO funding round worth $160 million from new investors such as Motilal Oswal Alternates and existing backers including TPG Growth. With this IPO, both Norwest and TPG stand to make significant profits. SK Finance aims to raise additional capital to fuel its growth and expand its operations in the non-banking financial sector.

Related News

TPG-backed SK Finance set to launch Rs 1,600 crore IPO next week: Report

Economic Times

Economic Times · 4d ago

TPG-backed SK Finance set to launch Rs 1,600 crore IPO next week: Report

SK Finance Ltd., an Indian financing company backed by TPG, is set to launch its initial public offering (IPO) potentially next week. The IPO, initially planned to raise 22 billion rupees, is expected to fetch about 16 billion rupees ($182 million). The offering involves both new shares worth up to 5 billion rupees and existing shares from current shareholders like TPG and Norwest Venture Partners. Funds will support business needs such as lending and corporate purposes.

Digital lending startup Fibe eyes $35 million fundraise from IFC - The Economic Times

Economic Times

Economic Times · 6d ago

Digital lending startup Fibe eyes $35 million fundraise from IFC - The Economic Times

Digital lending startup Fibe seeks to raise $35 million in a funding round led by the International Finance Corporation (IFC), with participation from existing investors like Eight Road Ventures, Norwest Venture Partners, and TPG. Fibe has previously raised $228 million. The startup, focused on consumer loans, plans to expand into education and green energy loans. It aims to enhance its valuation and considers an IPO within two years.

Motilal Oswal Alternates, TPG, others bet $160 mn on SK Finance

VCCircle

VCCircle · 1y ago

Motilal Oswal Alternates, TPG, others bet $160 mn on SK Finance

Non-banking lender SK Finance has raised INR 1,328 crore ($160 million) in a new funding round. The round saw participation from new investors such as Motilal Oswal Alternates, along with existing backers including TPG Growth. The Jaipur-based shadow lender will use the capital infusion to bolster its brand, distribution, technology, and team. SK Finance primarily offers financing for used vehicles and loans to small and medium-sized enterprises.

Can TPG beat exit benchmark as IPO-bound portfolio firm targets rich valuation?

VCCircle

VCCircle · 1y ago

Can TPG beat exit benchmark as IPO-bound portfolio firm targets rich valuation?

Private equity firm TPG is looking to monetize its investment in an Indian company as it aims to continue its successful streak of exits from its local portfolio. TPG was one of the top money-making firms through exits in India last year and is striving to maintain its momentum. The company seeks to beat exit benchmarks with its IPO-bound portfolio firm, aiming for a high valuation.

Ola Electric faces pushback on valuation; Pine Labs eyes $1-bn IPO

VCCircle

VCCircle · 1y ago

Ola Electric faces pushback on valuation; Pine Labs eyes $1-bn IPO

Ola Electric is facing opposition from investors on its targeted valuation for its IPO. The company's founder is aiming for a valuation of up to $7 billion, but initial feedback suggests that investors believe it is too high. Meanwhile, Pine Labs is planning to raise $1 billion through an IPO.

SEBI clears Northern Arc for IPO while putting SK Finance on hold

VCCircle

VCCircle · 1y ago

SEBI clears Northern Arc for IPO while putting SK Finance on hold

Northern Arc Capital has been given the green light by SEBI for its initial public offering (IPO), while the IPO plans of SK Finance have been put on hold by the regulator. Northern Arc Capital is a non-banking financing company with investors including Leapfrog, Eight Roads, and 360 One. The approval from SEBI allows Northern Arc Capital to move forward with its IPO plans. However, SK Finance, another private equity-backed NBFC, will have to wait for further clarification from the regulator.

SEBI puts SK Finance's Rs 2,200 Cr IPO in abeyance

YourStory

YourStory · 1y ago

SEBI puts SK Finance's Rs 2,200 Cr IPO in abeyance

The Securities and Exchange Board of India (SEBI) has put on hold the initial public offering (IPO) of non-bank lender SK Finance, which specializes in vehicle finance and business loans. SEBI did not provide a reason for the decision. The IPO consisted of a fresh issue of equity shares worth INR 500 crore ($67.5 million) and an offer for sale (OFS) of up to INR 1,700 crore by promoters and investor shareholders. SK Finance planned to utilize the proceeds for onward lending and general corporate purposes. The company operates in the vehicle financing and Micro, Small and Medium Enterprises (MSME) financing segments.

SoftBank-backed FirstCry targets $2.9 bn valuation in IPO

VCCircle

VCCircle · 1y ago

SoftBank-backed FirstCry targets $2.9 bn valuation in IPO

Indian retailer FirstCry is planning an IPO to raise up to $501 million, with a target valuation of $2.9 billion. The company, which sells baby products, aims to tap into the growing market of new parents in India. SoftBank, TPG, and Mahindra and Mahindra are among the existing investors looking to sell a combined stake worth $302 million. The funds raised will be used for acquisitions, international expansion, and establishing new stores and warehouses in India.

Kedaara-backed Veritas Finance receives SEBI approval for IPO

VCCircle

VCCircle · 3m ago

Kedaara-backed Veritas Finance receives SEBI approval for IPO

Veritas Finance, backed by Kedaara Capital and Norwest Venture Partners, has received SEBI approval for its IPO, aiming to raise Rs 2,800 crore. The IPO includes a fresh issue of shares worth Rs 600 crore and an offer for sale by existing shareholders of Rs 2,200 crore. Norwest, Kedaara, BII, Lok Capital, and Growth Catalyst plan to sell part of their holdings. Other shareholders such as Multiples PE and IFC are not participating in the IPO.

Kedaara, Norwest eye above-par return in Veritas IPO but impact investors to steal show

VCCircle

VCCircle · 6m ago

Kedaara, Norwest eye above-par return in Veritas IPO but impact investors to steal show

Kedaara Capital and Norwest Venture Partners are set to gain above-average returns by reducing their stakes in Veritas Finance Ltd during its IPO. However, two other investors are anticipated to achieve even greater returns. These investors, along with Kedaara and Norwest, plan to sell portions of their holdings. The Veritas IPO is poised to be profitable for its backers, highlighting the growing appeal and success of Indian financial ventures to investors.

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