Vikram Akula eyes a comeback to SKS Microfinance

Tuesday, July 30, 2013

Vikram Akula, the one-time poster boy of microfinance in India and founder-chairman of SKS Microfinance, is trying to make a comeback to the very company he founded in 1998 but had lost control two years ago.

SKS Trust Advisors, the original promoter of SKS headed by Bikshamaiah Gujja a close friend of Akula, has increased its shareholding in the company and has asked for a seat on its board of directors

The trust has increased the stake in the company to 8.79% in June end from 7.84% in March 2013, SKS Microfinance said in a filing to the Bombay Stock Exchange. Akula currently holds 0.84% stake in the company.

Source: Hindustan Times (link opens in a new window)