WestBridge Ventures II, LLC, one of the promoters of SKS Microfinance has proposed to acquire 1.6 million equity shares or 1.48% stake in the company for Rs 22.40 crore from other promoters. Post acquisition, WestBridge Ventures II, LLC stake in the company would increase to 4.33% from 2.85% earlier. Mauritius Unitus Corporation will sell its entire 1.48% holdings in the India’s only publicly traded micro lender.
Last week, SKS Trust Advisors, also one of the promoters, had bought an additional 2.69% in the company on the stock exchanges.
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.
