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SKS Microfinance advances on completing securitization transaction worth Rs 54.63 crore

24 Dec 2012 Evaluate

SKS Microfinance is currently trading at Rs 152.60, up by 0.65 points or 0.43% from its previous closing of Rs 151.95 on the BSE.

The scrip opened at Rs 148.20 and has touched a high and low of Rs 153.50 and Rs 144.40 respectively. So far 171298 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 198.90 on 13-Dec-2012 and a 52 week low of Rs 54.40 on 05-Jun-2012.

Last one week high and low of the scrip stood at Rs 183.70 and Rs. 151.95 respectively. The current market cap of the company is Rs 1644.28 crore.

The promoters holding in the company stood at 29.58% while Institutions and Non-Institutions held 39.47% and 30.95% respectively.

SKS Microfinance has completed a securitization transaction worth Rs 54.63 crore with a private sector bank. The pool of receivables securitized are rated A1+ (SO) by one of the leading Credit Rating Agencies. This is the third such transaction in the current fiscal. Instruments with A1+ (SO) rating are considered to have a strong capacity for timely payment of short-term debt obligations and carry the lowest credit risk.

Besides, the company was assigned a Grading of ‘MFI 1’ by one of the leading Credit Rating Agencies. The Grading is assigned on an eight point scale with ‘MFI 1’ being the highest and ‘MFI 5’ being the lowest.

SKS Microfinance is a non-banking finance company (NBFC), registered and regulated by Reserve Bank of India, whose mission is to eradicate poverty by providing financial services to the poor.

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