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SKS Microfinance shares trading high on market debut
Microfinance Focus, Aug 16, 2010: SKS Microfinance, India’s largest microfinance  institution started trading on country’s stock exchanges today after raising more than rupees 1600 crores through initial public offering of 1.6 crore shares in July this year.

It has listed at Rs. 1040 and was trading at Rs. 1113 at 10.00 am on National Stock Exchange (NSE). At Bombay Stock Exchange (BSE) it was trading at Rs. 1104 and was listed at Rs. 1036, up by 5.17 per cent over its issue price of Rs 985 per share.

SKS is operating in 19 states with over 2000 branches 6.78 million members. The value of its loan outstanding has grown at a compound annual growth rate of 147.7% to Rs29.4 billion ($629 million) from Rs780.5 million in fiscal 2010. Its net profit has also expanded at a CAGR of 221% in the same period to Rs1.7 billion in fiscal 2010, based on a revenue of Rs9.6 billion.

SKS issue price was fixed at Rs 985 per share, the upper band of the price range. Retail investors got SKS shares at a discount of Rs 50 per piece at Rs 935 per share.
Source :
Microfinance Focus
 
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