SKS Microfinance has allotted 44.5 lakh shares on preferential basis to Kumaon Investment Holdings.
As per the details of the acquisition,Kumaon Investment Holdings will acquire 44.5 lakh shares carrying voting rights equivalent to 4.11 per cent,SKS said.
Kumaon Investment Holdings is a promoter of the company.
In a BSE notification last week,SKS informed the “BSE that the Board of Directors of the Company has made allotment of 44,50,000 equity shares of Rs 10 each at a premium of Rs 65.40 per share to M/s Kumaon Investment Holdings,on a
Shares of SKS Microfinance traded at Rs 103.25 apiece on the BSE in noon trades today,down 6.52 per cent from the previous close.