Catamaran Investment Pvt Ltd is rumored to be investing in SKS Microfinance Ltd which will hit the market with its IPO this year. The Catamaran investment would be part of the pre-IPO sale process in SKS Microfinance.

SKS will be the first microfinance institution in India to raise funds from the capital market. Catamaran Investment Pvt Ltd is a Rs 600cr VC fund set up by Infosys Technologies' Narayana Murthy.

SKS has raised around $112 mn in for equity rounds of funding since March 2006. Also, in February 2008, SKS sold $44mn of its loan portfolio to Citigroup as an alternative way to raise liquidity.

SKS Microfinance was established in 1997 in Hyderabad by Vikram Akula. In 2003, the MFI received a rating of “Alpha minus” from Micro-Credit Ratings & Guarantees India Ltd. (M-CRIL).SKS also provides life and health insurance by means of a pilot program. It posted a revenue of Rs 385cr Q2 09 and Rs 554cr for FY09. The organisation has an annual growth rate of 188%. It currently serves five million clients across 62,000 villages and urban slums in 19 states.

SKS Micro-Finance Rounds of Funding

In March 2006, SKS Microfinance raised Rs 14cr with its first round of equity followed by additional Rs 53.62 cr in its second round of funding.

Other Comparable Deals in the Micro- Finance Space

 Source: Mint