The stake offloading spree by SKS Microfinance Ltd is continuing as Mauritius Unitus Corporation and Sequoia Capital India Growth Investments further trimming their stakes.
On Monday, Sequoia Capital reduced their stake in the Hyderabad-based company from 6.88 per cent to 4.25 per cent by selling 40,633 shares on the NSE.
Another promoter, Mauritius Unitus Corporation, also sold one lakh shares on January 25, a day after the company posted its first profit of Rs 1.2 crore after suffering loss in seven consecutive quarters.
Its stake now stands at 1.65 per cent in SKS which was hit by the Andhra Pradesh Microfinance crisis since October 2010.
Earlier, on January 15 and 22, Mauritius Unitus trimmed its stake.
In December last year, another promoter of the only listed MFI — West Bridge Ventures II LLC, had also brought down its stake from 3.93 per cent to 2.85 per cent.
SKS’s scrip lost 5.90 per cent to end at Rs 155.45 on the BSE on Tuesday.