India's SKS Microfinance IPO Subscribed 13.55 times

Aug 2010
Mumbai, India, August, 02 2010 - The initial public offering of SKS Microfinance, aimed at raising as much as $353 million, received bids for 13.55 times the shares on offer by 5.00 pm on Monday, the last day for bids, stock exchange data showed.

Most bids were at the top end of the 850 to 985 rupees price band, data showed, indicating a strong demand for loans among poorer borrowers in Asia's third-largest economy.

Citigroup (C.N), Kotak Mahindra Capital (KTKM.BO) and Credit Suisse (CSGN.VX) are the arrangers for the offering.

($1=46.2 rupees)

Source : Reuters

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