SKS Microfinance Limited's QIP oversubscribed

The duly authorized QIP Committee of the Board of Directors of SKS Microfinance Ltd has, at its meeting held on July 17, 2012 decided to close the bidding for QIP and approved the issuance of 3,04,98,069 Equity Shares at a price of Rs. 75.40 per Equity Share (including a premium of Rs. 65.40 per Equity Share) aggregating to Rs. 229.96 Crores (approx) to Qualified Institutional Buyers (the "QIBs") under the Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 (the "SEBI ICDR Regulations").

This QIP was opened on July 12, 2012 vide the resolution of the Board of Directors dated July 12, 2012.

The SKS Microfinance Ltd stock closed the day at Rs.89.20, up by Rs.10.10 or 12.77%. The stock hit an intraday high of Rs.92.70 and low of Rs.78.50.

The total traded quantity was 50.82 lakhs compared to 2 week average of 20.83 lakhs.

Source : Equity Bulls

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