SKS Trust Advisors hikes stake in SKS Microfinance

SKS Trust Advisors, the original promoter of SKS and an entity run by people close to ex chairman Vikram Akula-have hiked their shareholding in the Hyderabad headquartered microfinance company, SKS Microfinance.

Further, in a letter to the SKS Microfinance’s management, Bikshamaiah Gujja, a Geneva-based social scientist who heads SKS Trust Advisors, has requested for seat on its board of directors, which enable the later to share its experience and strengthen the working of the microfinance company. The development comes close on the heels of SKS Trust Advisors raising its stake in the company to 8.79% in June end from 7.84% in March 2013.

The combined holding of SKS Trust Advisors and Akula is at 9.63%, places them close to the 10% mark that allows minority shareholders to move the Company Law Board (CLB) for a greater participation in the affairs of the company.