Microfinance Gateway>Rich IPO Brings Controversy to SKS Microfinance

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Home » News & Opinion » Rich IPO Brings Controversy to SKS Microfinance

Rich IPO Brings Controversy to SKS Microfinance
Strom, S. & Bajaj, V.

SKS Microfinance, an Indian MFI, is being backed by wealthy investors and is about to raise up to US$350 million in a stock offering closely watched by philanthropists around the world. SKS was established as a "social enterprise" — a business based on the concept of doing well by doing good.

But the IPO, one of the field’s biggest stock offerings yet, has led to a dispute between two charitable microfinance organizations that had helped Akula to start SKS. It is unclear what will happen with the money those groups will make from the IPO.

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Posted: 30 Jul 2010
Source: The New York Times
Originally Published: 29 Jul 2010