SKS Microfinance opens QIP issue

SKS Microfinance Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 12, 2012, inter alia, had decided the following :1. To open a QIP issue by way of issue of Equity Shares on July 12, 2012 pursuant to and in accordance with the provisions of Chapter VIII of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended. The said issue is being carried out in accordance with the resolution passed by the shareholders of the Company through postal ballot on December 07, 2011. Further, in terms of Regulations 81 (c) of Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, the Board has fixed July 12, 2012 as the "Relevant Date" for the purpose and accordingly the floor price is Rs. 75.40 per Equity Share as per the pricing formula under Regulation 85 of Chapter VIII of the SEBI ICOR Regulations, 2009.2. Approved Preferential allotment of 44,50,000 Equity shares at Issue price of Rs. 75.40 per share to Kumaon Investment Holdings, a SEBI registered Foreign Institutional Investor (an 100% subsidiary of WestBridge Ventures Il, LLC, a Promoter of the Company u/s 81 (1A) of the Companies Act, 1956 and Chapter VII of SEBI ICDR Regulations subject to approval of Shareholders.3. Annual General Meeting of the company on August 10, 2012.Source : BSE

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