SKS Microfinance’s recently issued public offering listed for public trade on August 16, 2010 on the Bombay Stock Exchange and the National Stock Exchange of India. The share price was listed at INR 1,040 (USD 22) and was trading at INR 1,113 (USD 24) on the National Stock Exchange after the first day of trading. On the Bombay Stock Exchange it was listed at INR 1,036 (USD 22) and closed trading at trading at INR 1,104 (USD 24). The issue price for the public offering was INR 985 (USD 21) per share for institutional investors and INR 935 (USD 20) for retail investors.
SKS Microfinance launched India’s first initial public offering (IPO) of a microfinance institution on July 28, 2010, as reported by MicroCapital at that time. SKS Microfinance is an Indian microfinance institution serving impoverished women with total assets of USD 596 million at March 31, 2009. The company was founded by Vikram Akula and is backed by venture capital fund investors Quantum Hedge Fund, Sequoia Capital and Sandstone Capital, among others.
By Jennifer Shevock, Research Associate
About SKS Microfinance:
SKS Microfinance is an Indian microlender that delivers microfinance products through a group lending model to impoverished women in India. It is a for-profit non-banking finance company which converted to a public limited company in May 2009 and launched an initial public offering on July 28, 2010. Equity investors include Quantum Hedge Fund, Sequoia Capital, Vinod Khosla, Small Industries Development Bank of India, Bajaj Allianz, Yatish Trading, Kismet Capital, Sandstone Capital, Silicon Valley Bank and Unitus. Its total assets as of March 31, 2009, were USD 596 million with 3.5 million active borrowers, and it reported return on assets of 3.68 percent and return on equity of 18.72 percent.
Sources and Additional Resources:
“SKS Microfinance shares trading high on market debut” August 16, 2010.
http://www.microfinancefocus.com/news/2010/08/16/sks-microfinance-shares-trading-high-on-market-debut/
MICROCAPITAL BRIEF: “SKS Microfinance Initial Public Offering to List on August 16, 2010 on Bombay Stock Exchange and National Stock Exchange of India” August 13, 2010
https://www.microcapital.org/microcapital-brief-sks-microfinance-initial-public-offering-to-list-on-august-16-2010-on-bombay-stock-exchange-and-national-stock-exchange-of-india/#more-6435
MICROCAPITAL BRIEF: “SKS Microfinance IPO Experiences Strong Demand, Total Share Offer 13 Times Oversubscribed” August 9, 2010. https://www.microcapital.org/microcapital-brief-sks-microfinance-ipo-experiences-strong-demand-total-share-offer-13-times-oversubscribed/
MICROCAPITAL BRIEF: “SKS Microfinance Launches India’s First Initial Public Offering (IPO) by a Microfinance Institution” July 29, 2010. https://www.microcapital.org/microcapital-brief-sks-microfinance-launches-india%E2%80%99s-first-initial-public-offering-ipo-by-a-microfinance-institution/
MICROCAPITAL BRIEF: “Quantum Hedge Fund Managed by George Soros Invests in India’s SKS Microfinance, Whose Initial Public Offering (IPO) is Imminent” July 26, 2010.
https://www.microcapital.org/microcapital-brief-quantum-hedge-fund-managed-by-george-soros-invests-in-india%E2%80%99s-sks-microfinance-whose-initial-public-offering-ipo-is-imminent/#more-6134
MICROCAPITAL BRIEF: “India’s SKS Microfinance Sets Price for Pending IPO, Offers Discount to Retail Investors” July 22, 2010.
https://www.microcapital.org/microcapital-brief-india%E2%80%99s-sks-microfinance-sets-price-for-pending-ipo-offers-discount-to-retail-investors/#more-6053
MICROCAPITAL BRIEF: “Upcoming Initial Public Offering (IPO) of SKS Microfinance Rated as Grade 4/5 By Credit Analysis and Research Limited (CARE Ratings)” July 19, 2010.
https://www.microcapital.org/microcapital-brief-upcoming-initial-public-offering-ipo-of-sks-microfinance-rated-as-grade-45-by-credit-analysis-and-research-limited-care-ratings/
MICROCAPITAL BRIEF: “SKS Microfinance, a Microfinance Institution (MFI) in India, Announces Intentions to Sell Shares From July 28 to July 30” July 13, 2010. https://www.microcapital.org/microcapital-brief-sks-microfinance-a-microfinance-institution-mfi-in-india-announces-intentions-to-sell-shares-from-july-28-to-july-30/
MICROCAPITAL BRIEF: “Vikram Akula, Founder of Indian Microfinance Institution SKS Microfinance, Speaks Out in Advance of This Month’s Initial Public Offering (IPO)” July 13, 2010. https://www.microcapital.org/microcapital-brief-vikram-akula-founder-of-indian-microfinance-institution-sks-microfinance-speaks-out-in-advance-of-this-month%e2%80%99s-initial-public-offering-ipo/#more-5816
MICROCAPITAL BRIEF: “Indian Microfinance Institution SKS Microfinance Receives Initial Public Offering (IPO) Approval from Securities and Exchange Board of India” July 13, 2010.
https://www.microcapital.org/microcapital-brief-indian-microfinance-institution-sks-microfinance-receives-initial-public-offering-ipo-approval-from-securities-and-exchange-board-of-india/
MICROCAPITAL BRIEF: “India’s SKS Microfinance IPO Could Trigger Trend in Microlending” June 16, 2010. https://www.microcapital.org/microcapital-brief-indias-sks-microfinance-ipo-could-trigger-trend-in-microlending/
MICROCAPITAL BRIEF: “Initial Public Offering (IPO) of India-based Microfinance Institution (MFI) SKS Microfinance Raises Questions about Ethics within the Industry” April 13, 2010. https://www.microcapital.org/microcapital-brief-initial-public-offering-ipo-of-india-based-microfinance-institution-mfi-sks-microfinance-raises-questions-about-ethics-within-the-industry/
MICROCAPITAL BRIEF: “SKS Microfinance Limited, Microfinance Institution (MFI) in India, Files to Raise $250m in Initial Public Offering (IPO)” March 29, 2010. https://www.microcapital.org/microcapital-brief-sks-microfinance-limited-microfinance-institution-mfi-in-india-files-to-raise-250m-in-initial-public-offering-ipo/
MicroCapital Universe: SKS Microfinance: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=SKS+Microfinance
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