SPANDANA SPHOORTY FINANCIAL LIMITED is a leading, rural-focused NBFC-MFI with a geographically diversified presence in India. The company was incorporated as a public company in 2003 and registered as an NBFC with the RBI in 2004. Subsequently, it registered as an NBFC-MFI in 2015. Between the years 2005 to 2010, it grew its micro-finance operations and, as of March 2010, the company was the second-largest MFI in terms of AUM (Source: ICRA Research).
The company offers income generation loans under the joint liability group model, predominantly to women from low-income households in Rural Areas. As of March 31, 2019, the company was the fourth-largest NBFC-MFI and the sixth-largest amongst NBFC-MFIs and SFBs in India, in terms of AUM (Source: ICRA Research).
Over Fiscals 2018 and 2019, its 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 standalone Gross AUM was Rs.13,015.36 million as of March 31, 2017, and consolidated Gross AUM grew f rom Rs.31,667.85 million as of March 31, 2018, and to Rs.44,372.78 million as of March 31, 2019.
Spandana Sphoorthy Financial Limited IPO - Issue Details:
||Spandana Sphoorthy Financial Limited (View Report)
||100% Book Built Issue IPO
||Issue Opens: Aug 05, 2019
| Issue Closes: Aug 07, 2019
||Rs.853* - Rs.856^ per Equity Share
||Rs.1,198.13* Crores - Rs.1,200.94^ Crores
||Rs.10 per Equity Share
||17 Equity Shares and in multiples thereof
|Maximum Bid amount for Retail
||Rs. 2 Lakhs
||50% of the issue size (Rs. 599.06* Crores - Rs. 600.47^ Crores)
||15% of the issue size (Rs. 179.72* Crores - Rs. 180.14^ Crores)
|Retail Individual Bidders
||35% of the issue size (Rs. 419.35* Crores - Rs. 420.33^ Crores)
||NSE & BSE
||All Retail Applications compulsorily in UPI Mode
||Karvy Fintech Pvt Limited
|Book Running Lead Managers
||Axis Capital, ICICI Securities, IIFL Securities & JM Financial
* Lower Price Band; ^ Upper Price Band