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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 ₹856.00 per share . The lot size for an application is 17. The minimum amount of investment required by an retail is ₹14,501 (17 shares). 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 Date | August 5, 2019 to August 7, 2019 |
| Listing Date | August 19, 2019 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹853 to ₹856 per share |
| Issue Price Final | ₹856 per share |
| Lot Size | 17 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 1,39,00,110 shares (aggregating up to ₹1,189.85 Cr) |
| Fresh Issue | 45,43,385 shares (aggregating up to ₹388.91 Cr) |
| Offer for Sale | 93,56,725 shares of ₹10 (aggregating up to ₹800.94 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 5,96,33,683 shares |
| Share Holding Post Issue | 6,43,06,580 shares |
Spandana Sphoorty IPO offers total 1,40,29,622 shares. Out of which 70,14,810 (50.00%) allocated to QIB, 28,05,924 (20.00%) allocated to QIB, 21,04,444 (15.00%) allocated to NII, 49,10,368 (35.00%) allocated to RII and 42,08,886 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum 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%) |
Spandana Sphoorty Financial IPO opens on August 5, 2019, and closes on August 7, 2019.
| IPO Open Date | Mon, Aug 5, 2019 |
| IPO Close Date | Wed, Aug 7, 2019 |
| Tentative Allotment | Wed, Aug 14, 2019 |
| Initiation of Refunds | Wed, Aug 14, 2019 |
| Credit of Shares to Demat | Fri, Aug 16, 2019 |
| Tentative Listing Date | Mon, Aug 19, 2019 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, Aug 7, 2019 |
Investors can bid for a minimum of 17 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 | |
[Dilip Davda] 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...
QIB Portion: 50% of the offer;
Retail Portion: 35% of the offer
NII Portion: 15% of the offer
| Listing Date | August 19, 2019 |
| BSE Script Code | 542759 |
| NSE Symbol | SPANDANA |
| ISIN | INE572J01011 |
| Final Issue Price | ₹856 per share |
| BSE Listing Group | B |
Spandana Sphoorty Financial Ltd.
Plot No: 31 & 32,
Ramky Selenium Towers, Tower A, Ground Floor,
Financial District, Nanakramguda,Hyderabad 500 032
Hyderabad, Telangana
Phone: +91 40 4812 6666
Email: secretarial@spandanaindia.com
Website: http://www.spandanaindia.com/
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: spandana.ipo@karvy.com
Website: https://ipostatus.kfintech.com/
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 ₹1,189.85 Crores. The issue is priced at ₹856 per share. The minimum order quantity is 17.
The IPO opens on August 5, 2019, and closes on August 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 August 5, 2019 and closes on August 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 Friday, August 16, 2019. Check the Spandana Sphoorty Financial IPO allotment status.
The Spandana Sphoorty Financial IPO listing date is on Monday, August 19, 2019.
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