On September 24, 2010, Crisil, a credit rating agency based in Bangalore, India, assigned a “P1+” rating to the INR 7.5 billion (approximately USD 166 million) short – term debt program of SKS Microfinance, a publicly owned microfinance institution (MFI) based in India.
Search Results for: "SKS Microfinance"
MICROCAPITAL BRIEF: Bombay Stock Exchange (BSE) Includes India’s SKS Microfinance in BSE-500 Index
The Bombay Stock Exchange Limited (BSE) of India now includes SKS Microfinance in the BSE-500 index, effective September 13, 2010.
MICROCAPITAL BRIEF: India’s SKS Microfinance Nominates Founder and Current Non-Executive Chairman Vikram Akula to Serve as Chairman
The board of SKS Microfinance, a newly publicly-listed microfinance institution in India, recently announced its nomination of Mr Vikram Akula to serve as the company’s Executive Chairman.
MICROCAPITAL BRIEF: India’s SKS Microfinance’s Market Capitalization Reaches $2b Subsequent to Initial Public Offering
Indian microfinance institution SKS Microfinance’s market capitalization has reached the equivalent of USD 2 billion subsequent to the launch of its initial public offering (IPO) trading commencement on the Bombay Stock Exchange and the National Stock Exchange of India on August 16, 2010, as reported by MicroCapital on August 17, 2010.
MICROCAPITAL BRIEF: Standard Chartered Arranges $10m Commercial Paper Issuance for SKS Microfinance of India
According to a press release submitted to MicroCapital, Standard Chartered, an international bank headquartered in London, has arranged a USD 10 million, 1-year paper issuance for SKS Microfinance, an Indian microlender, which was subscribed through an unnamed mutual fund.
MICROCAPITAL BRIEF: SKS Microfinance Initial Public Offering Opens on Bombay Stock Exchange and National Stock Exchange of India, Shares Up After First Day of Trading
SKS Microfinance’s recently issued public offering listed for public trade on August 16, 2010 on the Bombay Stock Exchange and the National Stock Exchange of India.
MICROCAPITAL BRIEF: Unitus CEO Joseph Grenny Answers Questions Regarding Change in Strategy, Use of SKS Microfinance Initial Public Offering Proceeds
Mr Joseph Grenny, CEO of Unitus Inc., a US-based international nonprofit organization, recently responded to concerns regarding its announcement that it will be discontinuing its microcredit operations and regarding the use of its proceeds from the initial public offering of SKS Microfinance.
MICROCAPITAL BRIEF: SKS Microfinance Initial Public Offering to List on August 16, 2010 on Bombay Stock Exchange and National Stock Exchange of India
SKS Microfinance’s recently issued public offering will list for public trade on August 16, 2010 on the Bombay Stock Exchange and the National Stock Exchange of India at an expected list price of INR 1,200 (USD 26) per share.
MICROCAPITAL BRIEF: Dr C Rangarajan, Chairman of the Indian Prime Minister’s Economic Advisory Council Asks Microfinance Institutions (MFIs) to Consider Borrowers’ “Repayment Capacity” To Avoid Default
Dr C Rangarajan, Chairman of the Indian Prime Minister’s Economic Advisory Council, recently asked India’s microfinance institutions (MFIs) to consider borrowers’ repayment capacity when setting interest rates on loans.
MICROCAPITAL BRIEF: SKS Microfinance IPO Experiences Strong Demand, Total Share Offer 13 Times Oversubscribed
When SKS Microfinance launched India’s first initial public offering (IPO) on July 28, 2010, the total share issue received bids for 13.55 times the overall shares on offer, with the institutional share offer oversubscribed by 20.3 times.
MICROCAPITAL BRIEF: Unitus Equity Fund Investment in SKS Microfinance Valued at $60m, Partial Exit Expected This Week
Unitus Equity Fund, a privately-funded microfinance investment fund affiliated with Unitus Inc., a United States-based nonprofit, is reportedly expected to reduce its shareholdings in SKS Microfinance this week by selling approximately 1 million shares during SKS Microfinance’s initial public offering (IPO), which has been covered by MicroCapital several times since March 29, 2010.
MICROCAPITAL BRIEF: SKS Microfinance Launches India’s First Initial Public Offering (IPO) by a Microfinance Institution
SKS Microfinance has launched India’s first initial public offering (IPO), anticipation of which stretches at least back to a report by MicroCapital on March 29, 2010.
MICROCAPITAL BRIEF: India’s SKS Microfinance Raises $64m in Share Allotment Ahead of Initial Public Offering (IPO)
SKS Microfinance reported it has raised INR 2.98 billion (USD 64 million) in a share allotment to 36 undisclosed anchor investors prior to its initial public offering (IPO) scheduled to open July 27, as was previously reported by MicroCapital on July 22, 2010.
MICROCAPITAL BRIEF: India’s SKS Microfinance to Double Employee Count Subsequent to Initial Public Offering (IPO)
India’s SKS Microfinance has recently announced that it is planning to expand capacity and double employee count to 42,000 by the end of the current fiscal year ending March 31, 2011, after the initial public offering (IPO) which is scheduled for July 27, 2010, as previously reported by MicroCapital on March 29, 2010.
MICROCAPITAL BRIEF: Quantum Hedge Fund Managed by George Soros Invests in India’s SKS Microfinance, Whose Initial Public Offering (IPO) is Imminent
The Quantum Group of Funds, which consists of several privately owned hedge funds based in the Netherlands and Cayman Islands and managed by George Soros through Soros Fund Management, has purchased 300,000 shares in SKS Microfinance from Yatish Trading Company Pvt Ltd, an Indian securities firm.
MICROCAPITAL BRIEF: India’s SKS Microfinance Sets Price for Pending IPO, Offers Discount to Retail Investors
As initially reported by MicroCapital on March 29, 2010, India’s SKS Microfinance has filed for an initial public offering, and it has recently announced that it is planning to raise INR 1,500 crore, or INR 15 billion (USD 317 million) through the IPO.
MICROCAPITAL BRIEF: Upcoming Initial Public Offering (IPO) of SKS Microfinance Rated as Grade 4/5 By Credit Analysis and Research Limited (CARE Ratings)
Credit Analysis and Research Limited (CARE Ratings), a rating company based in Mumbai, India, has rated the upcoming initial public offering (IPO) of SKS Microfinance, a microfinance institution (MFI) that caters to women in India, as Grade 4/5, which indicates ‘above average fundamentals.’ The grading system takes into account the company’s financial position including asset quality, capital adequacy ratio, liquidity position and access to diverse sources of institutional funding; recent industry growth; prospects for future growth; and good corporate governance practices. As reported by MicroCapital, SKS Microfinance announced its intentions to sell shares as part of a USD 250 million IPO from July 28 to July 30.
MICROCAPITAL BRIEF: SKS Microfinance, a Microfinance Institution (MFI) in India, Announces Intentions to Sell Shares From July 28 to July 30
SKS Microfinance, a microfinance institution (MFI) that caters to women in India, plans to sell shares as part of a USD 250 million initial public offering (IPO) from July 28 to July 30. The price range at which the shares will be sold will be announced on July 26. The sale will be managed by Citigroup, a financial services firm based in New York City, USA; Credit Suisse, a financial services firm based in Zurich, Switzerland; and Kotak Mahindra, a financial services group in Mumbai, India [1].