Markets

SKS Microfin raises Rs 230 cr via QIP

Our Bureau Hyderabad | Updated on March 12, 2018

SKS Microfinance Ltd has received bids for Rs 230 crore for its qualified institutional placement issue.

The Hyderabad-based company had last week opened the QIP with an issue size of Rs 165 crore at a floor price of Rs 75.40.

“The QIP proceeds of Rs 230 crore and the proposed preferential allotment for Rs 33.50 crore aggregating Rs 263.50 crore brings in the much-needed growth capital,’’ Mr S. Dilli Raj, Chief Financial Officer, SKS Microfinance. said in a release issued on Tuesday.

Last week, the board had okayed a preferential allotment of 44.50 lakh shares at an issue price of 75.40 rupees a share to Kumaon Investment Holdings, one of the promoters of the company.

SKS Microfinance’s scrip declined 1.65 per cent to end at Rs 80.30 on the Bombay Stock Exchange today.

Published on July 17, 2012

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