India: Morgan Stanley buys 45L SKS Micro stock

Sep 2012
India, September, 26 2012 - Foreign fund house Morgan Stanley Asia (Singapore) today acquired 45 lakh shares of SKS Microfinance for over Rs 54 crore through open market transactions.

According to bulk data available with stock exchanges, Morgan Stanley Asia (Singapore) Pte bought 45 lakh shares of the Hyderabad-based microfinance player from Deutsche Securities Mauritius Ltd.

The shares were purchased on average price of Rs 121 apiece, valuing the deal to Rs 54.45 crore.

Yesterday, the Royal Bank of Scotland (RBS) had bought 50 lakh shares of SKS Microfinance from Deutsche Securities Mauritius for a little over Rs 58 crore through open market deals.

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

Shares of SKS Microfinance rose by 2.12 per cent to close at Rs 125 apiece on the BSE today.

Source : Indian Express

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