RIIs oversubscribed SKS Microfinance IPO 2.8 times

Microfinance Focus, Aug 3, 2010: Retail Individual Investors (RIIs) oversubscribed SKS’s initial public offering 2.81 times as per the latest data posted on National Stock Exchange website on Aug 2 at 8.30 PM.

In the portion reserved for Non-Institutional Investors it was subscribed 18.26 times. Non-Institutional investors include corporate and individuals other than RIIs. Over all the issue was subscribed 10.24 times and received a total bid for 14.10 crores against the total issue of 1.37 crores of equity shares.

The company’s 16,791,579 equity shares were 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. A discount of Rs 50 per equity share is being offered to applicants in the retail category.

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