Posts Tagged ‘sks’

Microfinance Focus, Oct 22, 2010: The Andhra Pradesh Police on Friday has arrested three people working with SKS Microfinance and Spandana on a complaint of harassment by a borrower, and might book the companies' respective promoters Vikram Akula and Padmaja Reddy under a new Ordinance to check coercive methods of loan recovery, according to a Press Trust of India report. The borrower, Ammulu, filed ... Full story

Microfinance Focus, Oct 20, 2010: Millions of microfinance borrowers in Andhra Pradesh are left stranded as they are denied of their weekly microfinance loans in the wake of the microfinance ordinance which was issued by state government last week, prohibiting microfinance institutions from carrying out lending and recovering operations till they get registered with the district registering authority. Microfinance sector in Andhra Pradesh has a client ... Full story

Microfinance Focus, Oct 20, 2010: The Andhra Pradesh High Court has today adjourned the hearing of the petition filed by MFIN (Microfinance Institutions Network) against the microfinance ordinance issued by AP government last week. The hearing is adjourned till Friday, 22nd of Oct. MFIN also conducted a board meeting today to discuss the current crisis, the issues around it and to look at ways forward. When ... Full story

Microfinance Focus, September 28, 2010: India’s largest microfinance institution, SKS Microfinance has announced a 265% increase in its Profits After Tax (PAT) at INR 67 crores for the first quarter ended June 30, 2010, over the corresponding period a year ago. The company’s income from microfinance activities rose 92% to INR 284 crores from INR 148 crores in the same period in financial year 2009. During the ... Full story

Microfinance Focus, Aug 16, 2010: SKS Microfinance, India’s largest microfinance institution started trading on country’s stock exchanges today after raising more than rupees 1600 crores through initial public offering of 1.6 crore shares in July this year. It has listed at Rs. 1040 and was trading at Rs. 1113 at 10.00 am on National Stock Exchange (NSE). At Bombay Stock Exchange (BSE) it was trading at ... Full story

Microfinance Focus, Aug 2, 2010: SKS public offer which received an overwhelming draw from qualified institutional buyers, couldn’t manage to attract the interest of retail individual investors as the issue remains undersubscribed 0.23 times in the portion reserved for them, according to the latest data available at Bombay Stock Exchange (BSE) at 12.05 PM today. On the National Stock exchange also the response remained weak. It ... Full story

Microfinance Focus, July 30, 2010: Microfinance News Synopsis brings a compilation of industry headlines broadcasted by other news media from across the world. Rich I.P.O. Brings Controversy to SKS Microfinance: An Indian company with rich American backers is about to raise up to $350 million in a stock offering closely watched by philanthropists around the world, showing that big profits can be made from small helping-hand ... Full story

Microfinance Focus, July 29, 2010: Microfinance lender SKS’s initial public offering received the highest bidding from institutional investor and the issue got subscribed 18 percent on the opening day. Out of the total issue size of 1.37 crores of equity shares, SKS received bids for 25.33 lakh shares, according to the latest data available on the National Stock Exchange (NSE). In the category reserved for Institutional Buyers, ... Full story

Microfinance Focus, July 28, 2010: SKS microfinance IPO which opened its subscription today is considered as expensive according to a report released by HDFC Securities yesterday. The current issue is priced a bit on the expensive side (31.4-36.3 times its FY10 EPS and 5.77-6.68 times its BV for FY10). Its smaller peer SE Investments has also risen 200% over the past 4-5 months aided by ... Full story

Microfinance Focus, July 28, 2010: Offering its outlook on the India’s first microfinance IPO which is issued today by SKS Microfinance Ltd., Jaypee Capital has recommended investors to avoid the stocks as it believes that the issue is overpriced and suggests investing after the stock lists. These recommendations were proposed in a report released yesterday from Jaypee Research. At the lower price band, the stock is ... Full story

Microfinance Focus, July 28, 2010: Setting precedent for the Indian microfinance industry, SKS Microfinance Ltd. opens up subscription of its Initial Public Offering (IPO) today. The company’s 16,791,579 equity shares will be issued at a price band of Rs. 850-Rs. 985 per equity share. Citi, Credit Suisse and Kotak Mahindra are the book-running lead managers for the offering. Out of the 16.792 million shares, 44.3% are ... Full story

Microfinance Focus, July 26, 2010: India’s largest microfinance institution SKS aims to raise around 16.54 billion rupees ($353 million) by way of initial public offering (IPO) of its shares as reported by Reuters. The company has fixed the price band for the offering at 850-985 rupees per share and retail investor will get 50 rupees discount on the final price, the report says. The IPO ... Full story

Microfinance Focus, July 26, 2010: Microfinance News Synopsis brings a compilation of industry headlines broadcasted by other news media from across the world. SKS Microfinance IPO: Invest: Investors with a high risk appetite can consider subscribing to the Initial Public Offer (IPO) of SKS Microfinance, one of the largest microfinance NBFCs in India. Presence in the under-penetrated micro-financing segment offers immense growth potential. The company has ... Full story

Microfinance Focus, July 23, 2010: Billionaire investor George Soros' hedge fund, Quantum has recently invested in India’s largest microfinance institution SKS, picking up around 3 lakh shares in the company for a total sum of Rs 19.08 crore, (Rs 636 per share). Quantum has picked up the shares from existing shareholder Yatish Trading Company Pvt Ltd. It will hold a 0.4% stake post the issue ... Full story