SKS completes two securitization transaction; stock up 4%

Stocks

oi-Sneha

By Sneha B K

Published: Monday, April 1, 2013, 10:19 [IST]

Shares of the SKS Microfinance company surged more than 4% on Monday after the company reported that it has completed two securitization process worth Rs 226 crore.

With this, the company has completed 12 securitization with seven funding partners amounting uo tp Rs 1,207 crore for FY13.

The company has also raised incremental debt of Rs 1,680 crore and raised fresh equity of Rs 263 crore resulting total incremental funding inflow of Rs 3,150 crore for FY13, which is more than double the Rs 1,434 core raised in FY12, the company said in the press release.

The company further added that these 12 securitization transactions has helped SKS Microfinance fund around 16 lakh micro loans extended to borrowers who belong to economic weaker sections.

Shares of the company was seen trading at Rs 126, higher by 3.83% on BSE at 10.15 am IST. The stock touched an intraday high of Rs 129.

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