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Macro losses for PEs in SKS Microfinance

The dream that turned sour for many a retail investor long before has now begun to hurt the smarter ones, too. Early birds who had bought chunks of SKS Microfinance Ltd before the Initial Public Offer (IPO), at what for a while looked like throw-away prices, are staring at losses. A set of private equity investors have seen their investment dip below cost price as the SKS stock dived below Rs 300 yesterday. After dipping to an all-time low of Rs 255 on Tuesday, SKS recovered to close at Rs 298. SKS allotted shares to the public at Rs 985 in its IPO. The shares subsequently hit a high of Rs ...