SKS Microfinance Share Price set at Rs 985, Retail Investors to pay Rs 935

SKS Microfinance will now be looking at a potential valuation of $1.5 billion at the upper end of the price band. SKS Microfinance will also issue shares at a Rs 50 discount to retail and small investors.

After the successful closure of it’s IPO, SKS Microfinance in consultation with it’s lead running book managers has decided to fix it’s issue price at the top end of it’s price band. ie Rs 985 per share, a top investment banker has revealed.

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sks microfinance ipo

Given the huge demand and over subscription the issue has got, the majority of the bids have come at the upper end of the price band. Retail investors are expected to be issued shares at Rs 935 at a discount of Rs 50 to the price at which Institutional Investors will be issued shares.SKS Microfinance is soon expected to announce the possible listing dates for it’s shares.

SKS Microfinance’s IPO closed on Monday for retail and non institutional investors, while for QIB’s the issue had closed on Friday. SKS Microfinance’s IPO was over subscribed 13.7 times as per combined figures available for the National Stock Exchange and Bombay Stock Exchange.

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