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History of SKS Microfinance Ltd., Company
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SKS Microfinance Ltd. Company History and Annual Growth Details

The Company was incorporated as SKS Microfinance Private Limited, on September 22, 2003 under
the Companies Act, 1956. The Registered Office of the Company is situated at Ashoka Raghupathi
Chambers, D No. 1-10-60 to 62, Opposite to Shoppers Stop, Begumpet, Hyderabad 500 016, Andhra
Pradesh. The Company had obtained a certificate of registration from the RBI on January 20, 2005 to
commence the business of a non-banking financial institution without accepting public deposits. With
effect from September 1, 2005, the Company acquired business operations, assets and loan portfolio
from SKS Society that was structured as a NGO and was engaged in microfinance.

The name of the Company was changed from SKS Microfinance Private Limited to SKS
Microfinance Limited pursuant to a resolution of our shareholders passed at an EGM held on May 2,
2009 and fresh certificate of incorporation bearing CIN number U65999AP2003PLC041732 was
issued on May 20, 2009. Subsequently, a fresh certificate of registration dated June 3, 2009 was
obtained from RBI for carrying on the business of non-banking financial institution without accepting
public deposits.

The Company is the largest MFI in India in terms of total value of loans outstanding, number of
borrowers and number of branches, according to the October 2009 CRISIL report titled India Top 50
Microfinance Institutions, or the CRISIL Report. The Company is engaged in providing microfinance
services to women in the lower income segment predominantly located in rural areas in India.

Key Events and Milestones

Date Details

September 22, 2003 Incorporation of SKS Microfinance Private Limited

January 20, 2005 Registration with RBI in the name of SKS Microfinance Private Limited to
carry on the business as a non-banking financial institution without accepting
deposits

September 1, 2005 Transfer of all assets and properties, pursuant to a MoU including the existing
loans and receivables in relation to micro finance activities, to the Company
from SKS Society

January 31, 2006 Entered into a Subscription cum Shareholders Agreement dated January 31,
2006 with SIDBI for allotment of 1,000,000 Equity Shares.

March 24, 2006 Issue of Equity Shares pursuant to equity investments by the following:
(i) Unitus Equity Fund LLP - 2,099,040 Equity Shares;
(ii) Mr. Vinod Khosla - 2,099,040 Equity Shares; and
(iii) The Ravi and Pratibha Reddy Foundation - 1,033,920Equity Shares.

February 28, 2007 The membership of the Company crosses 500,000 in more than 250 branches
across 11 states.

March 29, 2007 Issue of Equity Shares pursuant to equity investments by the following:
(i) MUC - 1,319,069 Equity Shares;
(ii) Mr. Vinod Khosla - 1,319,069 Equity Shares;
(iii) Kismet Microfinance - 1,319,069 Equity Shares;
(iv) Odyssey Capital Private Limited - 894,064 Equity Shares; and
(v) SCI II - 5,430,468 Equity Shares.

September 30, 2007 The membership of the Company crosses 1,000,000 in more than 500
branches across 15 states.

December 14, 2007 Social and Corporate Governance Award issued by BSE and Nasscom
Foundation for Best Corporate Social Responsibility Practice

December 27, 2007 Issue of Equity Shares pursuant to equity investments by the following:
(i) SIDBI - 807,461 Equity Shares;
(ii) Yatish Trading - 962,050 Equity Shares;
(iii) Infocom Ventures - 283,020 Equity Shares;
(iv) Mr. Vinod Khosla - 820,757 Equity Shares;
(v) MUC - 2,274,020 Equity Shares;
(vi) SCI II - 2,847,013 Equity Shares;
(vii) Kismet Microfinance - 3,678,027 Equity Shares;
(viii) Columbia Pacific Opportunity - 275,944 Equity Shares;
(ix) SCIGI I - 2,996,396;
(x) SVB India Capital Partners I, L.P - 275,944 Equity Shares; and
(xi) Tejas Ventures - 1,760,552 Equity Shares.

May 6, 2008 Certification bearing number 17998/08/S received from IQ Net that the quality
management system of the Company is in compliance with the standard ISO
9001:2000 in relation to the conducting of internal audits as per the policies
and applicable standards.

July 31, 2008 The membership of the Company crosses 2,500,000 in more than 1,100
branches across 15 states.

October 20, 2008 Issue of Equity Shares pursuant to equity investments by the following:
(i) SIP I - 2,085,448 Equity Shares and 6,256,344 Preference Shares
(ii) Kismet SKS II - 885,044 Equity Shares and 2,655,131 Preference Shares
(iii) ICP Holdings I - 81,383 Equity Shares and 244,150 Preference Shares

February 27, 2009 Issue of 2,500 10.5% secured redeemable NCD of face value of Rs. 100,000
each aggregating to Rs. 250 million to Yes Bank Limited on a private
placement basis.

April 23, 2009 Issue of 750 10.0% secured redeemable NCD of face value of Rs. 1,000,000
each aggregating to Rs. 750 million to Standard Chartered Bank on a private
placement basis. The said debentures have been listed on BSE pursuant to the
listing agreement dated April 24, 2009.

April 30, 2009 The membership of the Company crosses 4,000,000 in more than 1,400
branches across 18 states.

May 20, 2009 Fresh certificate of incorporation consequent to the change of the name on
conversion to a public limited company pursuant to a resolution of its
shareholders dated May 2, 2009

June 3, 2009 Registration with the RBI in the name of SKS Microfinance Limited to carry
on the business of non-banking financial institutions without accepting
deposits pursuant to the change in the name of the Company on conversion to
a public limited company.

August 31, 2009 The membership of the Company crosses 5,000,000 in more than 1,600
branches across 19 states.

November 24, 2009 Religare Asset Management Company Limited has subscribed to commercial
papers issued by the Company for value of Rs. 250 million having a discount
rate of 8.10% per annum

November 10, 2009 Yes Bank Limited has subscribed to commercial papers issued by the
Company for value of Rs. 1,000 million having a discount rate of 8.00% per
annum

December 9, 2009 Issue of 500 NCD of Rs. 1,000,000 each aggregating to Rs. 500 million to
BALICL at a coupon rate of 9.25% per annum

December 23, 2009 Issue of 500 NCD of Rs. 1,000,000 each aggregating to Rs. 500 million to Yes
Bank Limited at a coupon rate of 8.30% per annum. The said debentures have
been listed on BSE pursuant to the listing agreement dated December 29,
2009.

December 30, 2009 Tata Capital Limited has subscribed to commercial papers issued by the
Company for value of Rs. 200 million having a discount rate of 8.10% per
annum

January 11, 2010 Sanction by State Bank of India of Rs. 350 million towards term loans and Rs.
650 million towards cash credit for on lending purpose.

January 12, 2010 Availing of microfinance corporate loan facility from HDFC for Rs. 100
million to provide financial assistance for undertaking housing finance
activities

January 18, 2010 Agreement with HDFC on Technology license and service usage for
undertaking housing finance activities.

January 19, 2010 Issue of 937,770 Equity Shares pursuant to equity investments by Catamaran

February 3, 2010 Tie up with State Bank of India, State Bank of Hyderabad and State Bank of
Mysore for online integration of 585 branch bank accounts of the Company
through CMS

February 4, 2010 Religare Asset Management Company Limited subscribed to commercial
papers issued by the Company for value of Rs. 250 million having a discount
rate of 6.6% per annum.

February 10, 2010 MOU with FAL for purchase of supplies by kirana stores on a wholesale basis
located in and around New Delhi

March 8, 2010 Sanction of Tier-II unsecured subordinated debt of Rs. 1,000 million by SIDBI
for a tenure of eight years

July 2, 2010 CRSIL has assigned MFI grading of mfR1 to the Company indicating the
ability of a microfinance institution to conduct its operations in a scalable and
sustainable manner. The grading is assigned on an eight point scale, with
mfR1 being the highest grading and mfR8, the lowest.
 
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