EssKay Auto Finance Private Limited (“Esskay”) is a Jaipur-based Non-Banking Financial Company (“NBFC”) which predominantly finances pre-owned commercial vehicles. The Company has 45 branches spread across the state of Rajasthan and Gujarat.
Esskay is promoted by Mr. Rajendra Setia, who has been engaged in the vehicle financing business since 1994. Esskay’s focus on high growth tier 2 and tier 3 cities has helped its Assets Under Management (“AUM”) to grow at a healthy pace. Company has consciously built a secured loan portfolio with a healthy Loan to Value (“LTV”) and this is reflected in its low level of NPAs.
The investment will enable Esskay to ramp-up its business aggressively and also improve its capital structure, thereby providing further impetus to grow the AUM.