Case Studies

M-CRIL paper on Initial Public Offerings of MFI’s

A Commissioned Workshop Paper titled Initial Public Offerings: The field’s salvation or downfall? was written by Mr Sanjay Sinha, Managing Director, Micro-Credit Ratings International Limited, India and presented at the 2011 Global Microcredit Summit, which was held from November 14-17, 2011 at Valladolid, Spain.

The paper analyses the impact of SKS Microfinance’s IPO on the Indian Microfinance Sector and can be downloaded at the link below :

microfinance stock case study

Download it at the link below :

Workshop Paper on Microfinance IPO’s -pdf-17pages

Table of Contents

Introduction 1

Section 1 But first, IPOs as the industry’s salvation 1
1.1 400 million excluded low income families need at least $2 billion loan funds 2
1.2 Full speed ahead on the “capitalist road” 3

Section 2 …has the makings of the industry’s downfall 7
2.1 …as the high growth fever catches on 7
2.2 …and promoters focus on profitability rather than value to customers 8
2.3 …in order to obtain high valuations 11

Section 3 The industry’s downfall, or the “great Indian microfinance crisis” 11

Section 4 Summary analysis – how the success of the SKS IPO lulled the sense 13

Bibliography 15

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