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RBS sells 4.62% stake in SKS Microfinance for Rs 63 cr

Last Updated: Thursday, April 25, 2013 - 20:30

Mumbai: Royal Bank of Scotland (RBS) Thursday offloaded 4.62 percent stake in Hyderabad-based SKS Microfinance for about Rs 63.50 crore.

According to the data available with the stock exchanges, RBS sold 50 lakh shares, amounting to 4.62 percent stake, of SKS Microfinance through open market transactions.

The shares were sold on an average price of Rs 127.01 valuing the transaction to Rs 63.50 crore.

Meanwhile, Merrill Lynch Capital Markets Espana has acquired 49.95 lakh shares of SKS Microfinance for Rs 63.48 crore.

At the end of March quarter, RBS Asia Merchant Bank (Singapore) Ltd held 50 lakh shares or 4.62 percent holding in the micro finance player.

In September, RBS had bought 50 lakh shares of SKS from Deutsche Securities Mauritius for a little over Rs 58 crore through open market transactions.

Earlier, in July, Deutsche Securities Mauritius had picked up 9.15 percent stake, or 95 lakh shares, in SKS through qualified institutional placement for about Rs 78 crore.

SKS Microfinance scrip dropped 1.52 percent to settle at Rs 129.20 on the BSE.

PTI

First Published: Thursday, April 25, 2013 - 20:30
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