Bookbuilding IPO | ₹1,190 Cr | Listed at BSE, NSE | Mon, Aug 5, 2019 - Wed, Aug 7, 2019
Spandana Sphoorty Financial IPO is a book build issue of ₹1,189.85 crores. The issue is a combination of fresh issue of 0.45 crore shares aggregating to ₹388.91 crores and offer for sale of 0.94 crore shares aggregating to ₹800.94 crores.
Spandana Sphoorty Financial IPO bidding started from Aug 5, 2019 and ended on Aug 7, 2019. The allotment for Spandana Sphoorty Financial IPO was finalized on Aug 14, 2019. The shares got listed on BSE, NSE on Aug 19, 2019.
Spandana Sphoorty Financial IPO price band is set at ₹856 per share. The lot size for an application is 17. The minimum amount of investment required by an retail is ₹14,552 (17 shares) (based on upper price). The lot size investment for sNII is 14 lots (238 shares), amounting to ₹2,03,728, and for bNII, it is 69 lots (1,173 shares), amounting to ₹10,04,088.
Axis Capital Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Spandana Sphoorty Financial IPO RHP for detailed Information.
IPO Open
Mon, Aug 5, 2019
IPO Close
Wed, Aug 7, 2019
Issue Price
₹856 per share
Market Cap (Pre-IPO)
₹5,504.64 Cr
| IPO Date | 5 to 7 Aug, 2019 |
| Listed on | Mon, Aug 19, 2019 |
| Face Value | ₹10 per share |
| Price Band | ₹853 to ₹856 |
| Issue Price | ₹856 per share |
| Lot Size | 17 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,39,00,110 shares (agg. up to ₹1,190 Cr) |
| Fresh Issue | 45,43,385 shares (agg. up to ₹389 Cr) |
| Offer for Sale | 93,56,725 shares of ₹10 (agg. up to ₹801 Cr) |
| Share Holding Pre Issue | 5,96,33,683 shares |
| Share Holding Post Issue | 6,43,06,580 shares |
| BSE Script Code / NSE Symbol | 542759 / SPANDANA |
| ISIN | INE572J01011 |
Spandana Sphoorty Financial IPO comprises a total issue size of 1,40,29,622 shares. Out of which, 70,14,810 (50.00%) are allocated to QIB, 21,04,444 (15.00%) allocated to NII 49,10,368 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Total Issue | Max Allottees |
|---|---|---|---|
| QIB Shares Offered | 70,14,810 | 50.00% | NA |
| − Anchor Investor Shares Offered | 42,08,886 | 30.00% | NA |
| − QIB (Ex. Anchor) Shares Offered | 28,05,924 | 20.00% | NA |
| NII (HNI) Shares Offered | 21,04,444 | 15.00% | NA |
| Retail Shares Offered | 49,10,368 | 35.00% | 2,88,845 |
| Total Shares Offered | 1,40,29,622 | 100.00% |
Investors can bid for a minimum of 17 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 17 | ₹14,552 |
| Retail (Max) | 13 | 221 | ₹1,89,176 |
| S-HNI (Min) | 14 | 238 | ₹2,03,728 |
| S-HNI (Max) | 68 | 1,156 | ₹9,89,536 |
| B-HNI (Min) | 69 | 1,173 | ₹10,04,088 |
Spandana Sphoorty Financial IPO raises ₹360.28 crore from anchor investors. Spandana Sphoorty Financial IPO Anchor bid date is August 2, 2019.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Aug 2, 2019 |
| Shares Offered | 42,08,886 |
| Anchor Portion (₹ Cr.) | 360.28 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Sep 13, 2019 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, Nov 12, 2019 |
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.
| Period Ended |
|---|
| Amount in ₹ Crore |
The Spandana Sphoorty IPO is subscribed 1.05 times on August 7, 2019 6:00:00 PM (Day 3). 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) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 3.11 | 27,99,338 | 86,94,242 |
| NII | 0.55 | 21,06,909 | 11,68,087 |
| Retail | 0.09 | 49,16,120 | 4,65,256 |
| Total | 1.05 | 98,22,367 | 1,03,27,585 |
QIB Portion: 50% of the offer;
Retail Portion: 35% of the offer
NII Portion: 15% of the offer
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to the GCBRLMs and the BRLMs (including underwriting commission, brokerage and selling commission) | 30.92 |
| 2 | Commission and processing fees for SCSBs and fees payable to the Sponsor Bank for Bids made by RIBs using the UPI Mechanism | 0.55 |
| 3 | Brokerage and selling commission for Members of the Syndicate, Registered Brokers, RTAs and CDPs | 0.01 |
| 4 | Fees payable to Registrar to the Offer | 0.02 |
| 5 | Listing fees, SEBI filing fees, book-building software fees | 3.77 |
| 6 | Printing and stationary expenses | 1.68 |
| 7 | Fees payable to Monitoring Agency | |
| 8 | Advertising and marketing for the Offer | 4.81 |
| 9 | Miscellaneous | 11.02 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹856.00 | ₹856.00 |
| Open | ₹824.00 | ₹825.00 |
| Low | ₹690.00 | ₹691.10 |
| High | ₹865.00 | ₹866.00 |
| Last Trade | ₹848.40 | ₹847.80 |
Lead Manager Reports
Spandana Sphoorty Financial IPO is a main-board IPO of 1,39,00,110 equity shares of the face value of ₹10 aggregating up to ₹1,190 Crores. The issue is priced at ₹856 per share. The minimum order quantity is 17.
The IPO opens on Mon, Aug 5, 2019, and closes on Wed, Aug 7, 2019.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Spandana Sphoorty Financial IPO using UPI as a payment gateway. Zerodha customers can apply in Spandana Sphoorty Financial IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Spandana Sphoorty Financial IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Spandana Sphoorty Financial IPO opens on Mon, Aug 5, 2019 and closes on Wed, Aug 7, 2019.
Spandana Sphoorty Financial IPO lot size is 17, and the minimum amount required for application is ₹14,552.
You can apply in Spandana Sphoorty Financial IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Spandana Sphoorty Financial IPO will be done on Wednesday, August 14, 2019, and the allotted shares will be credited to your demat account by Fri, Aug 16, 2019. Check the Spandana Sphoorty Financial IPO allotment status.
The Spandana Sphoorty Financial IPO listing date is on Mon, Aug 19, 2019.
