Proving its critics wrong, the issue of SKS Microfinance was able to generate close to $358 million. Moreover, the shares were priced at the higher end of the band and was able to generate interest amongst the investors, many of them were institutional.

Looking at such a good performance many other such IPOs which deal in the NGO's may be coming up in the market soon.

The IPO, which is about a firm that give small loans to the poor women, is now worth $1.6 billion. Unlike the expectations it was able to generate the interest of even the high profile investors like George Soros, venture capitalist Vinod Khosla and Infosys Technologies founder N R Narayana Murthy. A clear sign that even they are ready to, support such causes.

The IPO closed on Monday and was priced at Rs 985, a source who wished to remain unnamed said.

As many as 16.8 million shares exchanged hands which is 13.7 times the total share that was brought on board.

The company had allocated 3.02 million shares to 32 cornerstone investors. The list also includes big names like JP Morgan, Morgan Stanley and Goldman Sachs.