Going bullish on the country's only listed microfinance company, foreign investors have more than doubled their holding in SKS Microfinance to nearly 36% over the past financial year with purchase of shares worth an estimated Rs 380 crore.
SKS Microfinance Limited, the only listed micro finance institution (MFI) in the country, informed BSE on Thursday that it "intends to carry business in the state of Andhra Pradesh" in accordance to the interim order of the Supreme Court.
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Following the Supreme Court interim order, SKS Microfinance Limited, the only listed micro finance institution (MFI) in the country, expects to recover a major portion of the Rs 1,350-crore which it had written off as non-performing portfolio in Andhra
SKS Microfinance Limited has concluded a securitization transaction valued at Rs 63 crore with a private sector bank. This takes the total number of securitisation transactions it had closed in the current financial year to eight, valued at Rs 866 crore.
SKS Microfinance Ltd has concluded two microfinance securitisation transactions aggregating Rs 390 crore. This takes the total number of securitisation transactions it had closed in the current financial year to seven, valued at Rs 803 crore.
SKS Microfinance has rallied almost 9% to Rs 178 in opening trades on NSE after reporting a net profit of Rs 1.2 crore for the third quarter ended December 2012 (Q3) against net loss of Rs 428 crore in the same quarter previous year.