‘SKS IPO proceeds will go to non-profit work’

13 Aug 2010, 0157 hrs IST,M Rajshekhar,ET Bureau
Roughly a month before the SKS Microfinance IPO, the Seattle-based charity Unitus, a large investor in the firm, unexpectedly announced it was shuttering its non-profit operations in micro-credit and laying off more than 40 employees. The decision sparked a controversy because Unitus stood to [...]