SKS Microfinance has entered the capital market to offer 16,791,579 shares in the price-band of Rs 850-985 per share.
The company is the largest MFI in India in terms of total value of loans outstanding, number of borrowers, and number of branches. The company is a NBFC regulated by RBI. Its activities are engaged in providing microfinance services to individuals from poor segments of rural India. Its mission is to eradicate poverty. The company's core business is providing small loans exclusively to poor women predominantly located in rural areas in India. These loans are provided to such members essentially for use in their small businesses or other income generating activities and not for personal consumption. These individuals often have no, or very limited, access to loans from other sources other than private money lenders that the company believes typically charge very high rates of interest.
Though, there is no direct listed competitor of the company, we have compared it with leading NBFCs. The company is trading fairly attractive to its peers.
Owing to leader in MFI space, spreading wings domestically and internationally, we recommend subscribe for the issue.
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