This Article is From Sep 26, 2012

Morgan Stanley buys 45 lakh shares of SKS Microfinance for over Rs 54 cr

Morgan Stanley buys 45 lakh shares of SKS Microfinance for over Rs 54 cr
Mumbai:

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, the fund house bought the shares of India’s only listed micro-lender from Deutsche Securities Mauritius Ltd.

The shares were purchased at an average price of Rs 121 apiece, valuing the deal at 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.