SKS Microfinance IPO : IPO Price Band Fixed

by khalid on 26/07/2010 · 0 comments

SKS Microfinance is India’S largest microfinance lender. The company is the first microfinance institution (MFI) in the country to go for a listing. The company has fixed fixed the price band of its initial public offer (IPO) at Rs 850 – 985 a share.

The company is entering into primary market with an Initial Public Offer (IPO) of Rs 1,653.97 Crore. The IPO is opening on 28th Jul 2010 and the shares will be available for subscription up to 2nd Aug 2010. The premium of the issue will be decided through a 100% Book Building Process.

The proceeds of the IPO will be used to meet future capital requirements arising out of growth in business and to achieve the benefits of listing on the Stock Exchanges.

The equity shares offered through the IPO are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

Book running lead managers to the issue are Citigroup Global Markets India Private Limited and Kotak Mahindra Capital Company Limited.

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