SKS Microfinance IPO subscribed 8.64 times on the third day at NSE

Microfinance Focus, July 30, 2010: The initial public offer of SKS Microfinance was subscribed 8.64 times at the end of its third day according to the latest data available at NSE. The IPO received a total bid for 118994988 shares against the total issue size of 13769095 shares.

It received an overwhelming support from qualified institutional buyers who oversubscribed it 3.6 times as per the BSE cumulative demand schedule. However Non-Institutional investors and retail individual investors subscribed 0.056 times and 0.050 times respectively.

Today was the last day for QIBs to subscribe for the issue. The issue will remain open till August 02 for non-institutional and retail investors. The price band for the same is between Rs 850 and Rs 985 per equity share.

SKS Microfinace has already received commitment for Rs 300 crore (USD 64 million) from anchor investors as against allocation of 30 lakh shares at Rs 985 per share. The book running lead managers to the Issue are Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited and Credit Suisse Securities (India) Private Limited.

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