The IPO could reach around 16 billion rupees ($ 182 million) compared to a previously planned 22 billion rupees, the people who asked not to be identified because the information is private. The deliberations are underway and details can still change, they said.
Representatives of SK Finance, who is not affiliated with the SK group of Zuid -Korea, did not respond to requests for comments.
The company submitted its design -IPO Prospectus in May last year and received approval of the regulations in August 2024, which is valid for 12 months.
Based on that application, the offer would include new shares with a value of no less than 5 billion rupees and no less than 17 billion rupees of existing shares that are sold by shareholders, including TPG and Norwest Venture Partners. The company plans to use the proceeds for future business needs such as loans and general business purposes.
Kotak Mahindra Capital Co., Jefferies Financial Group Inc., Motilal Oswal Investment Advisors and Nomura Holdings Inc. Act as book guidance managers for the deal.
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