SKS Microfinance’s recently issued public offering will list for public trade on August 16, 2010 on the Bombay Stock Exchange and the National Stock Exchange of India at an expected list price of INR 1,200 (USD 26) per share.
SKS Microfinance launched India’s first initial public offering (IPO) on July 28, 2010, as reported by MicroCapital on July 29, 2010. SKS Microfinance is an Indian microfinance institution serving impoverished women which has 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:
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
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
Similar Posts:
- MICROCAPITAL BRIEF: Abler Nordic Leads $10m Equity, Debt Investment Round for Ergos, Agtech Offering Crop Storage in India
- MICROFINANCE EVENT: Future of Fintech; June 14-15, 2023; Riyadh, Saudi Arabia; NEW DATES
- MICROCAPITAL BRIEF: Investors Buy $173m in Equity in Fusion Microfinance of India; IPO Allows Exits by Early Shareholders, Promoters
- MICROFINANCE EVENT: Responsible Finance Forum; July 5-7, 3023; Bengaluru, India
- MICROCAPITAL BRIEF: Abler Nordic Sells Equity Stake in Satin Creditcare, Provider of Microfinance to Low-income Women in India
