TPG-Backed SK Finance Set to Launch Scaled-Down IPO in India

SK Finance Ltd., the Indian financing company backed by TPG Inc., is likely to begin taking investor orders its initial public offering by as early as next week after reducing the size of the deal, according to people familiar with the matter.

The IPO could fetch about 16 billion rupees ($182 million), down from an earlier planned 22 billion rupees, the people said, asking not to be identified as the information is private. Deliberations are ongoing and details could still change, they said.

Representatives for SK Finance, which isn’t affiliated with South Korea’s SK Group, didn’t respond to requests ...