1. SKS to change business model, Akula may exit

    livemint.com
    SKS to change business model, Akula may exit
    Mumbai: A little more than a year ago, in October 2010,SKS Microfinance Ltd, then India’s largest microfinance institution ... brought in venture capitalists such as Vinod Khosla and Sequoia Capital besides investors including George Soros and N.R ...
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    1. We hope to sort these out and I will be very surprised if Akula stays back as he does not have too many supporters within the firm.
    2. What I can tell you categorically is that corporate governance is the integral part of any good MFI and there can be no compromise on that.
      By Alok Prasad
    3. From our standpoint, as an industry body, we have been hammering the message about the need to incorporate good corporate governance in the running of the institution. That is our consistent message to all our members.
      By Alok Prasad
    4. There are many takers for our Rs900 crore money-raising plan. The stock is now trading at less than its book value and at this price, many large private equity funds are interested to invest in SKS. It will raise Rs900 crore by January.
    5. It will redeploy people in the new business model. Akula was in favour of shedding the fat, but the board did not accept the idea.

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