SKS Microfinance IPO to hit markets on July 28, 2010

The Initial Public Offering (IPO) of SKS Microfinance Limited will open for subscription by investors on July 28, 2010.

The company is coming out with a Public issue of 16,791,579 equity shares of Rs. 10 each for cash at a price band of Rs 850 to Rs 985 through 100% Book Building process. The company has offered 5% discount for retail investors.

The Minimum Order Quantity is 7 Equity Shares and in multiples of 7 Equity Shares. The Maximum Subscription Amount for Retail Investor is Rs.100000.

The Rating Agency CARE has given IPO Grading of CARE IPO Grade 4.

Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, and Credit Suisse Securities (India) Private Limited are the Book Running Lead Managers to the IPO. Kotak Securities Limited is the Syndicate Member to the IPO.

Karvy Computershare Private Limited is the registrar to the company.

The IPO closes for subscription on Aug 02 2010 [* For QIB bidders Issue closes on July 30, 2010].

Source : Equity Bulls

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