Royal Bank of Scotland sells 4.62% stake in SKS Microfinance

Apr 25 2013, 19:24 IST
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SummaryMeanwhile, Merrill Lynch Capital Markets Espana has acquired 49.95 lakh SKS Microfinance shares.

Royal Bank of Scotland (RBS) today offloaded 4.62 per cent stake in Hyderabad-based SKS Microfinance for about Rs 63.50 crore.

According to the data available with the stock exchanges, RBS sold 50 lakh shares, amounting to 4.62 per cent stake, of SKS Microfinance through open market transactions.

The shares were sold on an average price of Rs 127.01 valuing the transaction to Rs 63.50 crore.

Meanwhile, Merrill Lynch Capital Markets Espana has acquired 49.95 lakh shares of SKS Microfinance for Rs 63.48 crore.

At the end of March quarter, RBS Asia Merchant Bank (Singapore) Ltd held 50 lakh shares or 4.62 per cent holding in the micro finance player.

In September, RBS had bought 50 lakh shares of SKS from Deutsche Securities Mauritius for a little over Rs 58 crore through open market transactions.

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

SKS Microfinance scrip dropped 1.52 per cent to settle at Rs 129.20 on the BSE.

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