Neo Secondaries Fund, Kenro Capital in talks to buy stake for Rs.400-Cr in NBFC SK Finance

Neo Secondaries Fund and Kenro Capital are in talks to acquire a combined stake worth INR 400-Cr in the Jaipur-based non-banking financial company (NBFC), SK Finance . Long-term investors TPG and Norwest Venture Partners, who have held stakes in the company for eight to nine years, are expected to be the primary sellers in this secondary market transaction.Founded in the 1990s by Rajendra Setia and his family, SK Finance focuses on used-vehicle financing and small-ticket secured MSME (micro, smal and medium enterprises) loans. The company operates nearly 680 branches across 13 states, with a portfolio concentrated in Rajasthan. It is currently working to diversify its geographic presence into Himachal Pradesh, Uttar Pradesh, Karnataka, and Telangana.As of 31 December 2025, Norwest, TPG, Baring Private Equity India, Evolvence, and 360 ONE’s Special Opportunities Fund held a collective 62.34% stake in the firm. The company’s assets under management grew to INR 15,750 crore in FY26, compared to INR 13,260 crore in the previous fiscal year, while profit after tax reached INR 431 crore.