SKS Microfinance, India’s largest microfinance entity, has filed for its draft red herring prospectus and it should be of no surprise for the readers of this blog that Infosys chief mentor N R Narayana Murthy has invested in SKS Microfinance.
The Draft Red Herring Prospectus of SKS Microfinance (India’s largest Microfinance ) which was filed with Stock exchanges states that it is looking to sell around 16.8 million shares and that Murthy’s recently launched venture capital fund Catamaran has invested Rs 28.12 crore in January this year. The firm will hold a 1.3% stake in SKS Microfinance post the IPO issue.
The name of Narayan Murthy’s fund Catamaran has its origin in the Tamil word ‘kattumaram’, which is a type of a multi-hulled country boat comprising two hulls joined with some structure. It is used by the fishing community off the southern coast of Tamil Nadu, India.With this investment Narayan Murthy’s new fund is all set to sail where the wind is blowing strongly.