SKS Microfinance, India's only listed microlender fighting a cash crunch, said on Wednesday its

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shareholders approved raising the investment limit of foreign institutional investors in the company to 74 percent from 24 percent.

Battered down shares in SKS rose 5 percent to 98.40 rupees following the news.

Earlier this month, SKS said it plans to raise a maximum of 5 billion rupees ($97.25 million) through a share sale to institutional investors by March 2012