SKS IPO opens on July 28

Jul 14, 2010 |

Correspondent

SKS Microfinance’s public offer, through which it expects to mop up as much as Rs 1,300 crore, will hit the capital market on July 28. The initial public offering, the first such issue by any microfinance company in India, will be launched between July 28 and July 30, sources said on Tuesday. “The company has received approval from the Sebi and, most probably on Monday, it will file the red herring prospectus,” the sources added. The Hyderabad-based firm is entering the primary market with 1.69 crore equity shares of Rs 10 each, and expects to raise funds worth Rs 1,300 crore. The proceeds from the IPO would be used for meeting the company’s capital requirements.

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