SKS Microfinance completes eighth securitisation transaction of FY15 worth $55M

Public-listed microlender SKS Microfinance Ltd has completed a securitisation worth Rs 344.35 crore ($54.9 million), according to a stock market disclosure.

This was the eighth securitisation transaction by the company in FY15 and sixth since Jan this year. With this, the total sum of securitisation stands Rs 1,558.66 crore during the current financial year.

The entire pool qualifies for priority sector treatment as per the Reserve Bank of India's (RBI) priority sector lending guidelines.

Last week, the microfinance lender completed its seventh securitisation of Rs 106.37 crore.

Simultaneously, SKS has also issued commercial paper worth Rs 50 crore, it said on Monday.

The firm, once India’s largest microfinance firm, counts WestBridge Capital as its largest shareholder.

SKS Microfinance operates across 16 states, including Karnataka, Maharashtra, Odisha, Madhya Pradesh, Bihar, Uttar Pradesh, Rajasthan, Uttarakhand, Haryana, West Bengal, Jharkhand, Chhattisgarh, Kerala, Punjab and Delhi.

The company's scrip was trading at Rs 448.80 each, up 1.56 per cent on BSE in a strong Mumbai market on Monday at 12.39 PM.

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