CLSA Mauritius sells 4.74 per cent stake in SKS Microfinance

MUMBAI: Foreign fund house CLSA Mauritius today offloaded 4.74 per cent of its stake in SKS Microfinance for an estimated Rs 69.87 crore.

The entity sold 51.28 lakh shares (amounting to 4.74 per cent stake) of SKS Microfinance to Crown Capital, as per the bulk deal information with the stock exchanges.

The shares were offloaded at an average price of Rs 136.25 apiece, amounting the transaction at Rs 69.87 crore.

As on quarter ended June 30, CLSA (Mauritius) held nearly 95 lakh shares in SKS Microfinance representing 8.77 per cent shareholding in the company.

SKS Microfinance reported a net profit of Rs 5 crore as against the loss of Rs 39 crore in the same quarter a year ago, for the April-June quarter, 2013.

The company's operations had gone into a tailspin after Andhra Pradesh came up with regulations in October 2010 restricting lending and recovery.

In a separate bulk deal, Premier Capital & Securities acquired 5.33 lakh shares of Essar Oil in a transaction worth Rs 3.14 crore. The shares were sold by Pilot Consultants at an average price of Rs 59 each.

On the BSE, shares of SKS Microfinance gained 2.06 per cent to close at Rs 136.40 apiece, while Essar Oil shares rose 1.72 per cent to end the day at Rs 59 apiece.