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.