Market sources have revealed that SKS Microfinance is planning to list on August 16th,2010.
August 16th is all scheduled to be a red letter day for the micro finance sector in India with SKS Microfinance planning to list on that day. August 16th will be a Monday and the starting of trading week in India. Many stock analysts are expecting a blockbuster listing and are predicting that the SKS Microfinance’s shares will list above Rs 1200 . SKS Microfinance’s Initial public offer (IPO), which closed on Monday, was a huge success as it was oversubscribed 13.69 times, as per data available with the National Stock Exchange.
SKS Microfinance has already fixed the issue price at Rs 985 per share with retail investors getting it at a discount of Rs 50 at Rs 935.The allotment ratio is expected to be announced in the coming days with trading commencing from August 16th,2010.
Hundreds of former employees of SKS Microfinance who hold shares of SKS Microfinance are eagerly waiting for SKS Microfinace to list and are planning to cash in on their phenomenal gains. Most of SKS’s senior employees have been issued stock in the past six years under the company’s employee stock option plan. After the listing it could take SKS’s current and former employees atleast a month’s time to dematerialize their share certificates and be able to sell them in the secondary markets.