RBS buys 50 lakh shares of SKS for Rs 58 cr

RBS buys 50 lakh shares of SKS for Rs 58 cr Mumbai: The Royal Bank of Scotland (RBS) Tuesday acquired 50 lakh shares of SKS Microfinance for a little over Rs 58 crore through open market transactions.

According to bulk data available with stock exchanges, RBS, which is 82-percent owned by the UK government, bought 50 lakh shares of the Hyderabad-based microfinance player.

The shares were purchased from Deutsche Securities Mauritius Ltd on average price of Rs 117.15 apiece, valuing the deal to Rs 58.57 crore.

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

SKS Microfinance surged by around five percent to close at Rs 122.40 apiece on the BSE.

PTI