SKS Microfinance gains on securitisation worth Rs 372 crore

With this, the total sum of securitisation for FY16 year-to-date is Rs 699.20 crore

Shares of SKS Microfinance were up over 2% at Rs 504 on the Bombay Stock Exchange after the company said it has completed the third securitisation transaction for a pool value of Rs 372.47 crore during FY16.

With this transaction, the total sum of securitisation completed during financial year 2015-16 year-to-date is Rs 699.20 crore, the company said in a release.

The entire pool qualifies for priority sector treatment as per the Reserve Bank of India's priority sector lending guidelines and the pool has been rated AA (SO) by a leading rating agency, the release added.

The stock opened at Rs 500 and touched a high of Rs 506. At 9:35am, over 380,000 shares were traded on both the stock exchanges.