Sandstone Investment trims stake in SKS Microfinance

Sandstone Investment Partners I, Mauritius, has brought down its stake in SKS Microfinance to 5.75 per cent from 6.22 per cent. This was effected through open market sale on September 8, 2014. The acquirer did not belong to the promoter/ promoter group.

As of June 30, 2014, the promoters holding in the company stood at 10.52%, while institutions and non-institutions held 57.40% and 32.08% stake in the company, respectively.

SKS Microfinance 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 16 states of India.