Narayana Murthy's VC fund may exit SKS Microfin: Sources

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Narayana Murthy's VC fund may exit SKS Microfin: Sources

There seems to be no end to SKS Microfinance's worries. NR Narayana Murthy's venture capital arm Catamaran is looking to exit SKS Microfinance, reports CNBC-TV18's Kritika Saxena quoting sources.

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Excerpts from Business Lunch on CNBC-TV18 Watch the full show » ALSO READ See latest News about SKS Microfin See previous management interviews See what other Experts & Brokerages are saying about SKS Microfin

There seems to be no end to SKS Microfinance 's worries. NR Narayana Murthy's venture capital arm Catamaran is looking to exit SKS Microfinance, reports CNBC-TV18's Kritika Saxena quoting sources.

This has been under Catarmaran's radar for quite sometime but now in the last two weeks Catarmaran board has officially decided to exit the microfinance lender. It is learnt that Catarmaran is likely to appoint two bankers to chart the exit route by January.

Cataramaran holds 1.3% in SKS while the lock-in period will expire in January 2012. Earlier in May, the pact had expired considering the stock had fallen below Rs 400 per share. However, Narayanmurthy wanted to adhere to the two-year lock-in period.

Catamaran remained unavailable for comment on the development.

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