SKS Microfinance gains on securitization deal

NEW DELHI: Shares of India’s only listed micro lender, SKS Microfinance, surged over 2% in trade on Friday after the company said it has completed securitization of Rs 321 crore with four leading banks.

“The Rs 321 crore securitisation transactions come close on the heels of two other transactions worth Rs 243 crore and Rs 354 crore in January and February 2012, respectively,” said a PTI report.

“In addition, the company had obtained term loans worth Rs 240 crore from three public sector banks. All these add up to a debt inflow of Rs 1,158 crore,” the report added.

At 01:42 p.m., shares of the company were trading 2.3% higher at Rs 131.25. The stock has hit a low of Rs 129.90 and a high of Rs 134.30, so far in trade.