Spandana Sphoorty Financial IPO – Dates, Allotment, Bid Details, Subscribe, Price & Size

In this article, we will discuss in details about the Spandana Sphoorty Financial IPO dates, size, its allotment status, Spandana Sphoorty Financial IPO subscription, grey market premium and its company’s financial status that will help you to conclude whether you should invest or subscribe for this IPO or not.

Spandhana Spoorty IPO Highlights
Open DateAug 5, 2019
Close DateAug 7, 2019
IPO Price BandRs 853 – Rs 856
Face ValueRs. 10
No. of Shares14,046,056
Share PriceRs 1,200.94 Crores
Share Premium
IPO Size

IPO - 100% Allotment


Summary – Spandana Sphoorty Financial Limited

Spandana Sphoorty Financial IPOSpandana Sphoorty Financial Limited is rural focused NBFC-MFI with a geographically diversified presence in India. It offers income generation loans under the joint liability group model,  mainly to women from low-income households. 

The Promoters of this company are Mr. Padmaja Gangireddy and Kangchenjunga Limited. The lead managers to the issue are Axis Capital Limited, ICICI Securities Limited, IIFL Holdings Limited, JM Financial, Indusind Bank, YES Securities Limited and the Registrar to this issue is Karvy Computershare Private Limited.


Spandana Sphoorty Financial IPO Review

Over Fiscals 2018 and 2019, their Disbursements increased by 87.34% and 28.82% (from Rs. 20,591.65 million as of March 31, 2017 to Rs. 38,576.48 million as of March 31, 2018 and to Rs. 49,692.83 million as of March 31, 2019) and its standalone Gross AUM was Rs. 13,015.36 million as of March 31, 2017 and its consolidated Gross AUM grew from Rs. 31,667.85 million as of March 31, 2018 and to Rs. 44,372.78 million as of March 31, 2019. For further details, please see “Selected Statistical Information” on page 193


Spandana Sphoorty Financial IPO Date

The opening and the closing date of IPO of Spandana Sphoorty Financial is Aug 5, 2019 – Aug 7, 2019.


Spandana Sphoorty Financial IPO Subscription

Day / DateQIBNIIRIITotal Subscription
1st Day – 0.19x0.00x0.01x0.06x
2nd Day – 0.73x0.21x0.03x0.27x
3rd Day – 3.11x0.55x0.09x1.05x
Shares Offered or Net Issue2,799,3382,106,9094,916,1209,822,367

The shares subscribed by the public will be updated here.


Spandana Sphoorty Financial IPO Allotment Status

Here, you can find the Allotment Status of this IPO.


Spandana Sphoorty Financial IPO Grey Market Premium

The Spandana Sphoorty Financial IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X. 


Spandana Sphoorty Financial IPO Price

The face value of each share is Rs 10, but the price band of the IPO is Rs 853 – Rs 856. 


Spandana Sphoorty Financial IPO Issue Size

14,046,056 Equity Shares of Rs 10, aggregating up to Rs 1,200.94 Crores.


Spandana Sphoorty Financial – Company Overview

Spandana Sphoorty Financial Private Limited was incorporated as a public company in 2003 and registered as an NBFC with the RBI in 2004. Subsequently, they registered as an NBFC-MFI in 2015. Between the years 2005 to 2010, it grew its micro-finance operations and, as of March 2010, they were the second largest MFI in terms of AUM.

Spandana Sphoorty Financial Limited is rural focused NBFC-MFI with a geographically diversified presence in India. It offers income generation loans under the joint liability group model,  mainly to women from low-income households.

Their business model involves regular client meeting processes through their employees, who maintain contact with the clients across the districts that they cover. As of March 31, 2018, they had 4,045 employees (including 2,746 credit assistants) operating out of 694 branches in 222 districts across 15 states in India.

Through their loan products and client-centric approach, they endeavor to strengthen the socio-economic well-being of low-income households by providing financing on a sustainable basis in order to improve livelihoods, establish identity and enhance self-esteem.


Spandana Sphoorty Financial – Company Financials

On the basis of Standalone statement:-

Amount (in INR & Millions)
31-Mar-1931-Mar-1831-Mar-1731-Mar-1631-Mar-1531-Mar-14
Total Assets49,317.0737,642.4719,286.2220,998.9523,524.6921718.48
Total Revenue10,430.965,873.063,770.643,488.063,254.062771.07
Total Expense5,750.573,048.303,435.662,294.652,195.242189.79
Profit After Tax3,119.001,879.464,434.142,432.351,050.99580.58

Spandana Sphoorty Financial IPO Lead Managers

Lead Managers
AXIS CAPITAL LIMITED,

ICICI SECURITIES LIMITED,

IIFL HOLDINGS LIMITED,

JM FINANCIAL,

 INDUSIND BANK,

YES Securities Limited

Spandana Sphoorty Financial Registrar to the Offer

Registrar to the Offer
Karvy Computershare Private Limited
Karvy Selenium Tower B, Plot 31-32, Gachibowli
Financial District, Nanakramguda, Hyderabad 500 032
Telangana, India
Tel: +91 40 6716 2222, Fax: +91 40 2343 1551
E-mail: spandana.ipo@karvy.com
Investor grievance E-mail: einward.ris@karvy.com
Website: www.karisma.karvy.com
Contact Person: M. Murali Krishna
SEBI Registration No.: INR000000221

Spandana Sphoorty Financial IPO Conclusion

 


Spandana Sphoorty Financial IPO News


 

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