SKS Microfinance, India's largest lender to the country's poor, has mandated three investment banks for its initial public offering in what would be the first listing of its type in the country.
SKS has hired Citigroup, Credit Suisse and domestic investment bank Kotak to advise on the $200m-$250m listing, which will give international investors their first taste of one of the world's biggest markets for micro lending.
“This is still a new sector and it needs capital,” said one person familiar with the deal. “It's very profitable and highly scaleable and we'll see some of these microfinance companies growing 100 per cent year-on-year.”
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