In this article, we will discuss in detail the Spandana Sphoorty Financial IPO dates, size, 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 Date | Aug 5, 2019 |
| Close Date | Aug 7, 2019 |
| IPO Price Band | Rs 853 – Rs 856 |
| Face Value | Rs. 10 |
| No. of Shares | 14,046,056 |
| Share Price | Rs 1,200.94 Crores |
| Share Premium | |
| IPO Size | |
Summary – Spandana Sphoorty Financial Limited
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.
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, and 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 closing date of the IPO of Spandana Sphoorty Financial is Aug 5, 2019 – Aug 7, 2019.
Spandana Sphoorty Financial IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – | 0.19x | 0.00x | 0.01x | 0.06x |
| 2nd Day – | 0.73x | 0.21x | 0.03x | 0.27x |
| 3rd Day – | 3.11x | 0.55x | 0.09x | 1.05x |
| Shares Offered or Net Issue | 2,799,338 | 2,106,909 | 4,916,120 | 9,822,367 |
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 the Standalone statement:-
| Amount (in INR & Millions) | ||||||
| 31-Mar-19 | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | |
| Total Assets | 49,317.07 | 37,642.47 | 19,286.22 | 20,998.95 | 23,524.69 | 21718.48 |
| Total Revenue | 10,430.96 | 5,873.06 | 3,770.64 | 3,488.06 | 3,254.06 | 2771.07 |
| Total Expense | 5,750.57 | 3,048.30 | 3,435.66 | 2,294.65 | 2,195.24 | 2189.79 |
| Profit After Tax | 3,119.00 | 1,879.46 | 4,434.14 | 2,432.35 | 1,050.99 | 580.58 |
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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