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We report the identification and follow-up of the transient SRG062340.2-265715 detected with both instruments on board theSpektrum-Roentgen-Gamma mission. Optical spectroscopy of the G=12.5 counterpartfirmly classifies the object as a novalike cataclysmic variable (CV) at adistance of 495 pc. A highly significant TESS period of 3.941 hours,tentatively identified with the orbital period of the binary, could not befound when the object was reobserved with TESS two years later. The newerhigh-cadence TESS data revealed quasi-periodic oscillations around 25 min,while ground-based photometry indicated periodic variability at 32 min. Locatedin very sparsely populated regions of color-magnitude diagrams involving X-rayand optical magnitudes and colors, the new object could be an X-rayunderluminous magnetic CV, an intermediate polar, or an overluminousnonmagnetic CV. The lack of uniquely identified spin and orbital periodsprevents a final classification. The site of X-ray production in the system,L(X, bol) = 4.8 x 10^{32} erg/s, remains to be understood given its highvariability on long and short timescales.

Identification of SRGt 062340.2-265715 as a bright, strongly variable, novalike cataclysmic variable