SKS Microfinance Gets Venture Capitalists as Promoters for IPO
Kalesh, B.

In a first of its kind, a group of four venture capitalists led by Sequoia Capital India has become the promoter of SKS Microfinance Ltd, as the country’s largest MFI prepares to make an initial public offering (IPO). Sequoia Capital India owns close to 24% of the MFI with investments worth US$30 million.

The other three investors are Sandstone Capital Llc (12%), Kismet Capital Advisors Llc (17%) and SKS Trust for the Benefit of Women Entrepreneurs (15%). The four investors will replace SKS founder Vikram Akula as promoter of the firm. Akula started the company in 1997. He is also one of the trustees of SKS Trust.

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Related Links:

SKS Microfinance Lining up for IPO?

SKS Microfinance in India to File for IPO in 3-4 Weeks

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