New Delhi, May 15 -- IKF Finance, a non-banking financial company based in Hyderabad, has raised around Rs.1,465 crore ($175 million) from global investment firm Norwest and existing investor Motilal Oswal Alternates, the company announced on Thursday. The round, IKF's largest to date, included both primary capital and a secondary component, it added.

Mint first reported in September 2024 that IKF's promoters and investors were exploring a controlling stake sale that could value the company at $200-250 million. The company did not confirm its valuation after the round.

Norwest led the latest round with an investment of more than $100 million. MO Alternates, which first invested in IKF in 2015, has reinvested "post making stellar returns...