SKS Microfinance Ltd updates on QIP issue

In respect of the Issue, the Board of Directors of SKS Microfinance Ltd has, at its meeting held on May 27, 2014, approved the issue and allotment of 1,76,70,534 Equity Shares to eligible QIBs at a price of Rs. 225 per Equity Share, including a premium of Rs. 215 per Equity Share, aggregating to Rs. 397,58,70,150 (Rupees Three Hundred Ninety-seven Crore Fifty-eight Lakh Seventy Thousand One Hundred and Fifty only) under the SEBI Regulations and Section 42 of the Companies Act, 2013 (including the rules made thereunder). The Company has submitted to BSE a copy of resolution for allotment of the Equity Shares pursuant to the Issue.

Shares of SKS MICROFINANCE LTD. was last trading in BSE at Rs.286.7 as compared to the previous close of Rs. 289.8. The total number of shares traded during the day was 184342 in over 11205 trades.

The stock hit an intraday high of Rs. 295.45 and intraday low of 285.1. The net turnover during the day was Rs. 53468610.

Source : Equity Bulls

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