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SKS Microfinance surges on plans to raise Rs 3,000 crore in FY14

25 Mar 2013 Evaluate

SKS Microfinance is currently trading at Rs. 127.15, up by 3.20 points or 2.58% from its previous closing of Rs. 123.95 on the BSE.

The scrip opened at Rs. 125.00 and has touched a high and low of Rs. 130.95 and Rs. 125.00 respectively. So far 48613 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. 153.90 and Rs. 107.50 respectively. The current market cap of the company is Rs. 1381.34 crore.

The promoters holding in the company stood at 26.97% while Institutions and Non-Institutions held 40.09% and 32.94% respectively.

In a bid to meet its lending requirements, SKS Microfinance, India’s only listed micro lender, is planning to mop up Rs 3,000 crore in FY14. Of total, one third of Rs 3,000 crore will be through securitization and the remaining will be term loan and other instruments.

Recently, the company completed two securitization transactions aggregating Rs 115 crore, rated A1+ (SO). With this, the company has completed ten securitization transactions aggregating Rs 981 crore in FY13 (YTD).

SKS reported profit of Rs 1.2 crore for Q3FY13, compared to loss of Rs 428 crore for Q3FY12. It has garnered a profit after seven consecutive quarters of losses on account of provisioning and rise in advances.

SKS Microfinance (SKS) is a non-banking finance company (NBFC), registered and regulated by the Reserve Bank of India, whose mission is to provide financial services to low-income households. SKS operates across 17 states of India.

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