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Incorporated in 2003, Spandana Sphoorty Financial Ltd is a rural area focused NBFC-Microfinance Institution. Mrs Reddy is a founder, MD and promoter of the company. It is engaged in offering small-ticket unsecured loans to help the women in the low-income bracket in rural and urban areas. The company provides income generation loans, business loans and loans against gold jewellery.
Spandana has a presence across 15 states in India with 4,045 employees and 694 branch network. By offering the loan products to low-income households, the company is strengthening the socio-economic condition and improving their livelihoods.
The company has started working under CDR mechanism (Corporate Debt Restructuring) of the RBI to revive the business and restructure the borrowings in 2010. And, exited successfully in March 2017 with the help of Kangchenjunga Ltd and Kedaara AIF-1.
Before the 2010 crisis, the company had Rs 4,500 crore loan portfolio. The company started recovering and made the first profit in the year 2013-14. As of September 2018, Spandana had Rs 2,244 crore loan portfolio.
Padmaja Gangireddy and Kangchenjunga Limited are the promoters of the company.
| Particulars | For the year/period ended (in Rs. 10 Lakhs) | |||||
|---|---|---|---|---|---|---|
| 31-Mar-19 | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | ||
| Total Assets | 48,980.37 | 37,642.47 | 19,286.22 | 20,998.95 | 23,524.69 | |
| Total Revenue | 10,362.81 | 5,872.74 | 3,770.64 | 3,438.62 | 3,019.71 | |
| Profit After Tax | 3,087.48 | 1,879.71 | 4,434.14 | 2,432.35 | 1,050.99 | |
The Net Proceeds of the Fresh Issue are proposed to be utilised for:
1. Augmenting the capital base and
2. General corporate purposes
| IPO Opening Date | Aug 5, 2019 |
| IPO Closing Date | Aug 7, 2019 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹853 to ₹856 per equity share |
| Market Lot | 17 Shares |
| Min Order Quantity | 17 Shares |
| Listing At | BSE, NSE |
| Issue Size | 14,046,056 Eq Shares of ₹10 (aggregating up to ₹1,202.34 Cr) |
| Fresh Issue | 4,689,331 Eq Shares of ₹10 (aggregating up to ₹400.00 Cr) |
| Offer for Sale | 9,356,725 Eq Shares of ₹10 (aggregating up to ₹[.] Cr) |
The Spandana Sphoorty IPO open date is Aug 5, 2019, and the close date is Aug 7, 2019. The issue may list on Aug 19, 2019.
| IPO Open Date | Aug 5, 2019 |
| IPO Close Date | Aug 7, 2019 |
| Basis of Allotment Date | Aug 14, 2019 |
| Initiation of Refunds | Aug 14, 2019 |
| Credit of Shares to Demat Account | Aug 16, 2019 |
| IPO Listing Date | Aug 19, 2019 |
The Spandana Sphoorty IPO market lot size is 17 shares. A retail-individual investor can apply for up to 13 lots (221 shares or ₹189,176).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 17 | ₹14,552 |
| Maximum | 13 | 221 | ₹189,176 |
| Pre Issue Share Holding | 81.21% |
| Post Issue Share Holding | 62.6% |
QIB Portion: 50% of the offer;
Retail Portion: 35% of the offer
NII Portion: 15% of the offer
SSFL is the most efficient micro-finance company with a cost to income ratio of 25% and the industry-leading opex ratio of 4.6% for FY19. Its AUM posted 85% CAGR and PBT posted 222% CAGR in last two years with just 0.01% NPAs as on 31.03.19. SSFL offer appears cheap against its close peer CAGL. Considering these, investors may consider investment for the long term. Read detail review...
The Spandana Sphoorty IPO is subscribed 1.05 times on 8/7/2019 6:00:00 PM. The public issue subscribed 0.09 times in the retail category, 3.11 times in the QIB category, and 0.55 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 3.11 |
| NII | 0.55 |
| Retail | 0.09 |
| Total | 1.05 |
| Listing Date | Monday, August 19, 2019 |
| BSE Script Code | 542759 |
| NSE Symbol | SPANDANA |
| Listing In | B Group of Securities |
| ISIN | INE572J01011 |
| IPO Price | ₹856 per equity share |
| Face Value | ₹10 per equity share |
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Spandana Sphoorty Financial Ltd
Plot No: 31 & 32,
Ramky Selenium Towers, Tower A, Ground Floor,
Financial District, Nanakramguda,Hyderabad 500 032
Phone: +91 40 4812 6666
Email: secretarial@spandanaindia.com
Website: http://www.spandanaindia.com/
KFintech Private Limited
Phone: 04067162222, 04079611000
Email: spandana.ipo@karvy.com
Website: https://karisma.kfintech.com/
Spandana Sphoorty IPO is a main-board IPO of 14,046,056 equity shares of the face value of ₹10 aggregating up to ₹1,202.34 Crores. The issue is priced at ₹853 to ₹856 per equity share. The minimum order quantity is 17 Shares.
The IPO opens on Aug 5, 2019, and closes on Aug 7, 2019.
KFintech Private Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
The Spandana Sphoorty IPO opens on Aug 5, 2019 and closes on Aug 7, 2019.
Spandana Sphoorty IPO lot size is 17 Shares and the minimum order quantity is 17 Shares.
You can apply in Spandana Sphoorty IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Spandana Sphoorty IPO will be done on Aug 14, 2019, and the allotted shares will be credited to your demat account by Aug 16, 2019. Check the Spandana Sphoorty IPO allotment status.
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