|
|
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.
| 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 Date | Aug 5, 2019 to Aug 7, 2019 |
| Listing Date | Monday, August 19, 2019 |
| Face Value | ₹10 per share |
| Price | ₹853 to ₹856 per share |
| Lot Size | 17 Shares |
| Issue Size | 14,046,056 shares of ₹10 (aggregating up to ₹1,202.34 Cr) |
| Fresh Issue | 4,689,331 shares of ₹10 (aggregating up to ₹400.00 Cr) |
| Offer for Sale | 9,356,725 shares of ₹10 (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Company Promoters | Padmaja Gangireddy and Kangchenjunga Limited are the promoters of the company. |
Spandana Sphoorty IPO opens on Aug 5, 2019, and closes on Aug 7, 2019. The Spandana Sphoorty IPO bid date is from Aug 5, 2019 10.00 A.M. to Aug 7, 2019 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.
| Event | Tentative Date |
|---|---|
| Opening Date | Aug 5, 2019 |
| Closing Date | Aug 7, 2019 |
| Basis of Allotment | Aug 14, 2019 |
| Initiation of Refunds | Aug 14, 2019 |
| Credit of Shares to Demat | Aug 16, 2019 |
| Listing Date | Aug 19, 2019 |
The Spandana Sphoorty IPO 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 |
|---|---|---|---|
| Retail (Min) | 1 | 17 | ₹14,552 |
| Retail (Max) | 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 Aug 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 share |
| Face Value | ₹10 per share |
|
|
|
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/
KFin Technologies 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 share. The minimum order quantity is 17 Shares.
The IPO opens on Aug 5, 2019, and closes on Aug 7, 2019.
KFin Technologies 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 .
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.
Top Contributor (300+ Posts, 200+ Likes)
Useful Articles
FREE Account Opening (₹0)
FREE Intraday Trading (Eq, F&O)
30 days brokerage free trading
Free - Relationship Manager
Free - Classroom Training
|
|
IPO Guru (1800+ Posts, 10200+ Likes)
IPO Mentor (900+ Posts, 1500+ Likes)
Sold 80% of my holding. Kept 20% for a target of 1200+