SK Finance, a non-bank lender focused on vehicle finance and business loans, has redrawn its business plans with a focus on investing more in technology, systems, and procedures, as well as using analytics to improve efficiency.

The company’s growth plans are back on track after SEBI lifted the suspension of the IPO.

According to the draft papers, the IPO comprises a fresh issue of equity shares worth ₹500 crore and an offer for sale (OFS) of up to ₹1,700 crore by promoters and investor shareholders. The company plans to use part of the fresh funds for investment in information technology.

The company aims to continue using technology and leveraging analytics to make its operations more agile and improve both operational and managerial efficiency. It plans to enhance its sales and collection teams, maintain asset quality, and improve customer experience using advanced technology, said the company.

Under business support, it intends to increase the use of data analytics for customer selection, follow-up, lead rationalisation, field assignment and customer retention. Under business intelligence, the company intend to use data analytics and leverage its business intelligence tools to drive sales and collections.

It also aims to adopt technology and assets to ensure that operations are conducted in a secure manner in compliance with regulatory requirements, including data protection. Through regular reviews of the use of technology in its operations, along with the continuous adoption of new technologies, the company aims to further improve work processes to enhance the customer experience, it added.

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