SKS Microfinance has frozen upper circuit of 10% at Rs 98.45 on completion of a rated pool assignment of Rs 243 crore, the largest by any microfinance institutions (MFI) in FY12.

The pool comprises receivables from 322,312 women borrowers from the weaker sections as defined by the Reserve Bank of India. Prior to this transaction, SKS completed six assignment/ securitization post the AP MFI Act., the only listed MFI said in a filing to the stock exchanges.

The said transaction of Rs 243 crore is rated CARE A1+(SO) by the rating agency CARE, which has a strong capacity for timely payment of short term debt obligations and carry the lowest credit risk.

“SKS delivered all its promises to the credit-granting community through the painful transition phase post the AP MFI Act. Now, it is time to reap the fruits of consolidation" said S Dilli Raj, CFO, SKS Microfinance Limited.

As many as 2.4 million shares have already changed hands on the counter so far, against an average around one million shares that were traded daily in past two weeks on the NSE and BSE. There are pending buy orders for 267,226 shares on both the exchanges.