SK Finance Ltd, a non-deposit taking non-banking finance firm center layer (NBFC ML), stated its development plans are again on monitor after the abeyance on the Preliminary Public Providing (IPO) was lately lifted by Securities & Trade Board of India (SEBI).
The corporate stated it will improve penetration and distribution community in current markets and diversifying into contiguous markets. It has been rising its department community through the years and goals to additional deepen the attain, develop presence in new geographies, and improve penetration in a calibrated method in states the place it entered lately.
The corporate, which is working in car financing and Micro, Small and Medium Enterprises (MSME) financing verticals, plans to make use of a part of its recent funds from the web proceeds in direction of future department and enterprise growth, it stated.
SK Finance follows a hub and spoke mannequin in increasing throughout areas, the place it designates district-level branches because the hub department, which manages a number of spoke branches.
As of December 31, 2023, the corporate has a community of 535 branches throughout India. Its MSME enterprise is operated solely from 322 branches of the prevailing department community.
The corporate plans to leverage its geographic presence and distribution community to reap the benefits of the massive addressable market to develop its MSME financing vertical by steadily offering MSME financing from current untapped department community, it stated.
