SKS Microfinance has surged 9% to Rs 281 on back of heavy volumes on the bourses. The stock opened at Rs 258 and has touched a low of Rs 241 on the Bombay Stock Exchange (BSE) so far.
A combined 15.18 million shares, representing 14% of the total equity of SKS Microfinance, changed hands on the counter till 1155 hours on the BSE and NSE.
A total of about 6.7 million shares changed hands through multiple block deals on the NSE. However, the name of the buyers and sellers are not immediately known.
Media reports suggest that SKS Trust Advisors, the original promoter and holder of about 12.5% stake in the company, exited the micro lender.
Meanwhile, on May 20 2014, SKS Microfinance informed BSE that it has opened a qualified institutional placement (QIP) issue and fixed the floor price at Rs 235.06 per share.
The company's shareholders recently approved a QIP issue worth Rs 400 crore; the money would be raised through an issue in India or via international offerings in one or more foreign markets.
A combined 15.18 million shares, representing 14% of the total equity of SKS Microfinance, changed hands on the counter till 1155 hours on the BSE and NSE.
A total of about 6.7 million shares changed hands through multiple block deals on the NSE. However, the name of the buyers and sellers are not immediately known.
Media reports suggest that SKS Trust Advisors, the original promoter and holder of about 12.5% stake in the company, exited the micro lender.
Meanwhile, on May 20 2014, SKS Microfinance informed BSE that it has opened a qualified institutional placement (QIP) issue and fixed the floor price at Rs 235.06 per share.
The company's shareholders recently approved a QIP issue worth Rs 400 crore; the money would be raised through an issue in India or via international offerings in one or more foreign markets.
