SKS Microfinance Shares Jump in Mumbai Trading Debut
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SKS Microfinance Ltd., the Indian lender backed by George Soros, rose as much as 18 percent in its Mumbai trading debut as investors bet on rising demand for credit in the world’s largest market for small loans.
SKS shares, which opened at 1,085 rupees, traded 13 percent higher at 1,111.3 rupees as of 11:25 a.m. local time, poised to surpass the average 11 percent first-day gain for Indian initial public offers this year. The IPO by SKS, based in Hyderabad, raised 16.3 billion rupees ($348 million) after shares were sold for as much as 985 rupees each this month.