SKS Microfinance IPO fixed at Rs 985 per share

The SKS Microfinance’s IPO, which was oversubscribed 13.69 times was fixed at at the highest band price of Rs 985, said the company.

SKS, India’s largest microfinance company, has now given the industry the required confidence to go public and reports say even Spandana Sphoorty Financial, the country’s second largest microfinance institution (MFI), will soon hit the market with its IPO.

Other MFIs in the race to go public are SHARE Microfin and Asmitha Microfin.

SKS Microfinance’s Rs 1,654-crore IPO was oversubscribed 20.38 times in the qualified institutional buyer category and in the category reserved for high net-worth individuals, it was oversubscribed by 18.26 times. In retail investors category it was oversubscribed by 2.81 times.