Foreign institutional investors (FIIs) have hiked their stake in SKS Microfinance to an all-time high of 31.77 per cent in the July-September quarter from a record low of 8.33 per cent at the end of preceding three-month period.
The sharp increase in the shareholding of FIIs coincided with a huge rally of 88 per cent in the share price of SKS Microfinance between July and September this year.
On the other hand, the total promoter holding dipped to 29.58 per cent during the quarter from 37.62 per cent in April-June 2012, as per information available with the stock exchanges.
The stock has taken a major beating since its listing in August 2010 at a price of over Rs.1,000 per share and is at present trading near Rs.120 per share. The company had debuted on the bourses after sale of shares in an initial public offer at Rs.985 a piece.
The FIIs that acquired fresh shares during the last quarter include CLSA, Royal Bank Investment, Credit Suisse and Morgan Stanley.
At present, CLSA (Mauritius) owns 8.77 per cent, while Royal Bank Investment Partners (London) owns 4.62 per cent. Morgan Stanley (Singapore) and Credit Suisse held 4.16 per cent and 1.48 per cent stakes respectively. Besides, the number of FIIs stands at 30, up from against 24 at the end of the April-June quarter.