SKS Microfinance Ltd QIP issue Opens

The Board of Directors of SKS Microfinance Ltd at its meeting held on May 19, 2014, has decided to open a QIP issue by way of issue of Equity Shares on May 19, 2014 pursuant to and in accordance with the provisions of Chapter VIII of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 ("SEBI ICDR Regulations"), as amended. The said issue is being carried out in accordance with the resolution passed by the shareholders of the Company through postal ballot on April 12, 2014. Further, in terms at Regulations 81(c) of Chapter VIII of the SEBI ICDR Regulations the Board has fixed May 19, 2014 as the 'Relevant Date' for the purpose and accordingly the floor price is Rs. 235.06 per Equity Share as per the pricing formula under Regulation 85 of Chapter VIII of the SEBI ICDR Regulations, 2009.

Shares of SKS MICROFINANCE LTD. was last trading in BSE at Rs.281.5 as compared to the previous close of Rs. 276.95. The total number of shares traded during the day was 383778 in over 16839 trades.

The stock hit an intraday high of Rs. 290.4 and intraday low of 273. The net turnover during the day was Rs. 108849661.

Source : Equity Bulls

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