SKS Microfinance kicks off $347 million Indian IPO

The lender to the poor attracts a who's who list of investors to its 18% anchor tranche.

It has started well for SKS Microfinance, a provider of small-scale loans to individuals from poor segments of rural India, in its quest to become the country's first publicly listed microfinance institution.

Yesterday, it finalised the sale of 18% of its initial public offering to a group of around 20 anchor investors at the top end of the indicated price range. If other investors are willing to pay as much, the company could raise a total of Rs16.54 billion $347 million from the IPO, making it the second largest listing in India this year after Jaypee Infratech's $511 million listing in early May.

The...

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