Subscribe to SKS Microfinance IPO: Angel Broking

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The initial public offering (IPO) of SKS Microfinance opened for subscription. The company is offering 168 lakh equity shares through this IPO, which will close on August 2. Angel Broking has recommended subscribing the issue.

The price band for the issue is at Rs 850-985 per share. Book will close today for QIBs while it will remain opened till August 2 for retail & non-institutional investors.

The report says, "SKS Microfinance (SKSMF) offers a high quality play on India's vast Rs 2.7lakh crore microfinance opportunity. SKSMF's core strength lies in effective risk management and governance, advanced technology, wide product portfolio, diversified sources of capital and strong pan-India distribution network, all of which have brought down the cost of credit to the poorest to amongst the lowest in the world, unlocking tremendous latent demand. We recommend a subscribe to the issue."

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To read the full report click on the attachment