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WestBridge Ventures II, LLC, said it has acquired a 1.48 per cent stake, or 16 lakh shares, in SKS Microfinance Ltd. The shares were bought at Rs 140 apiece from Mauritius Unitus Corporation, according to a disclosure to the BSE on Tuesday.
Last week, SKS Trust, bought 29 lakh shares, including nine lakh from Vikram Akula, founder and ex-Chairman, to become the largest stakeholder. Subsequently, it wrote to the management asking for Vikram Akula to be inducted as a director on its board.
SKS Microfinance said that under its articles of association, no shareholder has a right to nominate a director. All requests are to be made in accordance with the Companies Act.
somasekhar.m@thehindu.co.in
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