SKS Microfinance, the world's second microfinance institution to have an initial public offering, has attracted both institutional and retail investors.

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SKS Microfinance Ltd.'s $347 million initial public offering of stock was subscribed 13.8 times after drawing strong investor demand, one of the bankers involved in the deal said Monday.

The IPO, the first in India by a microfinance institution, has attracted significant attention to an area of the economy that is still nascent as an organized sector.

Order-taking from institutional investors ended Friday, and orders from retail investors ended Monday.

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