Vikram Akula alloted SKS shares under stock option

HYDERABAD: Vikram Akula, founder and former chairperson of SKS Microfinance was allotted about nine lakh equity shares of Rs 10 each by the company under Employees Stock Option Plan, according to filing made by SKS to the bourses on Friday.

"The Company has allotted 9,06,734 equity shares of Rs 10 each to Vikram Akula, pursuant to his exercise of options under the SKS Microfinance Employees Stock Option Plan, 2007," SKS said in the filing.

Akula, the poster boy of the microfinance industry and founder of the country's only listed micro finance institution stepped down from SKS board on November 24.

Shares of SKS closed at Rs 96, down by 4 per cent over previous close on BSE.