The Bombay Stock Exchange Limited (BSE) of India now includes SKS Microfinance in the BSE-500 index, effective September 13, 2010. The BSE in turn excludes the company Cals Refineries Limited from the index. The BSE-500 is the BSE’s stock index which currently covers 93 percent of the market capitalization of companies in the 20 major industries in India.
SKS Microfinance is an Indian microfinance institution that provides microfinance products through a group lending model to impoverished women. It reported total assets as of March 31, 2010, equivalent to USD 791 million. SKS Microfinance’s market capitalization has reached the equivalent of USD 2 billion subsequent its trading commencement on the Bombay Stock Exchange and the National Stock Exchange of India on August 16, 2010, as reported by MicroCapital on August 17, 2010.
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, of which trading commenced on the Bombay Stock Exchange and the National Stock Exchange of India on August 16, 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. SKS Microfinance reported total assets as of March 31, 2010, of USD 791 million.
About the Bombay Stock Exchange BSE-500:
The BSE-500 is India’s Bombay Stock Exchange (BSE) stock index which, as of September 2010, represents 93 percent of the total market capitalization of companies listed on the BSE. The BSE-500 covers all 20 major industries of the Indian economy.
Sources and Additional Resources:
“BSE adds SKS Microfinance in BSE-500 index” September 6, 2010. http://smartinvestor.in/market/Compnews-41140-Compnewsdet-BSE_adds_SKS_Microfinance_in_BSE_500_index.htm
MICROCAPITAL BRIEF: “India’s SKS Microfinance Nominates Founder and Current Non-Executive Chairman Vikram Akula to Serve as Chairman” September 16, 2010. https://www.microcapital.org/indias-sks-microfinance-nominates-founder-and-current-non-executive-chairman-vikram-akula-to-serve-as-chairman/
MICROCAPITAL BRIEF: “India’s SKS Microfinance’s Market Capitalization Reaches $2b Subsequent to Initial Public Offering” September 15, 2010. https://www.microcapital.org/microcapital-brief-india%E2%80%99s-sks-microfinance%E2%80%99s-market-capitalization-reaches-2b-subsequent-to-initial-public-offering/
MICROCAPITAL BRIEF: “SKS Microfinance Initial Public Offering Opens on Bombay Stock Exchange and National Stock Exchange of India, Shares Up After First Day of Trading” August 17, 2010. https://www.microcapital.org/microcapital-brief-sks-microfinance-initial-public-offering-opens-on-bombay-stock-exchange-and-national-stock-exchange-of-india-shares-up-after-first-day-of-trading/
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
MicroCapital Universe: Bombay Stock Exchange BSE-500: https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Bombay+Stock+Exchange+%28BSE%29+%28BSE-500+Stock+Index%29
Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/
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