SKS Microfinance files DRHP for an IPO of 1.67 crore equity shares
SKS Microfinance has filed the Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offer (IPO) of 1.67 crore equity shares, accounting for 21.6% of the company’s fully diluted post-issue capital. This includes a fresh issue of 0.74 crore shares and an offer for sale of 0.93 crore shares by certain selling shareholders.
Net proceeds from the fresh issue would be used to augment the future capital requirements of the company arising out of growth in its business.
The book running lead managers to the issue are Kotak Mahindra Capital, Citigroup Global Markets India and Credit Suisse Securities (India).
SKS is the first microfinance company to hit the market following RBI directive asking microfinance companies to maintain higher prudential capital of 12% of their assets in FY11.
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Category: IPO
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