SPANDANA SPHOORTHY FINANCIAL IPO REVIEW, DATES, GREY MARKET PRICE & ALLOTMENT

The exciting news for the investors is Spandana Sphoorty Financial Limited (SSFL) has received approval from the market regulator SEBI to float its Rs 1200 crore IPO.

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.

Spandana Sphoorty Financial (SSFL), a rural-based non-banking financial company -microfinance institutions (NBFC-MFI) is coming out with its initial public offer (IPO) of equity shares of Rs. 10 each. It is a combination of both primary and secondary sale. The price band has been fixed between Rs. 853 and Rs. 856.

Stay tuned in the end to learn about “Spandana Sphoorty IPO details. So, without any further delay let’s get started

About Spandana Sphoorty Financial LTD

Spandana Spoorthy IPOSPANDANA 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).

Company Products

1. Abhilasha (JLG Loans)
2. Shree Loans
3. Loans Against Property (LAP)
4. Gold Loans (Keertana)
5. Phinix Loans
6. Interim Loans

Competitive Strengths

1. Seasoned business model
2. Large employee base for a high degree of client engagement
3. Focus on a highly under-served market
4. Geographically diversified business operations

Spandana Sphoorthy Financial IPO – Issue Details:

Issuer Spandana Sphoorthy Financial Limited (View Report)
Issue Type 100% Book Built Issue IPO
Issue Period Issue Opens: Aug 05, 2019
Issue Closes: Aug 07, 2019
Price Brand Rs.853* – Rs.856^ per Equity Share
Issue Size Rs.1,198.13* Crores – Rs.1,200.94^ Crores
Face Value Rs.10 per Equity Share
Bit Lot 17 Equity Shares and in multiples thereof
Maximum Bid amount for Retail Rs. 2 Lakhs
QIB 50% of the issue size (Rs. 599.06* Crores – Rs. 600.47^ Crores)
HNI 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)
Listing NSE & BSE
UPI All Retail Applications compulsorily in UPI Mode
Registrar Karvy Fintech Pvt Limited
Book Running Lead Managers Axis Capital, ICICI Securities, IIFL Securities & JM Financial
Upcoming IPO 2019 Upcoming NCD 2019

Spandana Sphoorty IPO Dates & Price Band

The face value of each share is Rs 10, but the price band of the IPO is not yet revealed

  • IPO Open: Aug 05, 2019
  • IPO Close: Aug 07, 2019
  • IPO Size: Rs.1,198.13* Crores – Rs.1,200.94^ Crores
  • Face Value: Rs. 10
  • Price Band: Rs.853* – Rs.856^ per Equity Share
  • Listing on: BSE & NSE
  • Retail Portion: 35%
  • Equity: No. Shares
  • Tips for Investing in Spandana Sphoorthy IPO

Spandana Sphoorthy IPO Market Lot

  • Shares: Apply for 17 Shares (Minimum Lot Size)
  • Amount: ₹14,552/—

Spandana Sphoorthy IPO Allotment & Listing

  • Bid/Offer Opens On : Aug 05, 2019
  • Bid/Offer Closes On : Aug 07, 2019
  • The basis of Allotment: Aug 14, 2019
  • Refunds: Aug 14, 2019
  • Credit to demat accounts: Aug 16, 2019
  • Affle IPO Listing date: Aug 19, 2019

The shares subscribed by the public will be updated here.

Spandana Sphoorty Financial IPO Review & Ratings

IPO Ratings & Review
Criteria Ratings
Industry Sentiments 7.8/10
Industry Ranking 7.7/10
Company Background 7.9/10
Company Reputation 7.4/10
Competitive Edge 7.7/10
Financial Statements 7.8/10
Popularity Index 7.7/10
Promoters Reputation 7.7/10
Retail Appetite 7.4/10
Top Brokers Review 7.4/10
Overall Ratings 7.7/10
Star Ratings ★★★★☆

Spandana Sphoorty Financial IPO Review by Stock Brokers

Brokers Review Company Reputation Competitive Edge Financial Statement Popularity Index Promoters Reputation
Angel Broking 6.5/10 6.6/10 6.6/10 6.4/10 6.4/10
Sharekhan 6.7/10 6.4/10 6.6/10 6.1/10 6.2/10
Kotak Securities 6.7/10 6.7/10 6.7/10 6.4/10 6.3/10
ICICI Direct 6.6/10 6.3/10 6.7/10 6.5/10 6.5/10
IIFL 6.4/10 6.7/10 6.8/10 6.4/10 6.7/10
Edelweiss 6.7/10 6.4/10 6.4/10 6.3/10 6.7/10
Zerodha 6.5/10 6.4/10 6.7/10 6.4/10 6.5/10
5Paisa 6.7/10 6.4/10 6.3/10 6.7/10 6.5/10
Karvy 6.8/10 6.3/10 6.7/10 6.4/10 6.0/10
Motilal Oswal 6.6/10 6.4/10 6.6/10 6.6/10 6.4/10

Spandana Sphoorthy IPO Grey Market Premium

The Spandana Sphoorthy IPO Grey Market Premium price is Rs 15-20, the Kostak rate is Rs 450 and the Subject to Sauda is Rs 0. 

How to Apply for Spandana Sphoorthy IPO?

Investors should note that the Offered Shares will be Allotted to all successful Bidders only in dematerialized form. The Bid cum Application Forms which do not have the details of the Bidders depository accounts, including DP ID, Client ID, and PAN and UPI ID (for RII Bidders bidding using the UPI mechanism), shall be treated as incomplete and rejected. Bidders will not have the option of being Allotted Equity Shares in physical form.

If you have a demat account, most banks offer the online IPO application. You could also contact your broker to apply in Spandana Sphoorty IPO.

Financial Summary of Spandana Sphoorthy Financial LTD:

Amount (in INR & Millions)
31-Mar-19 31-Mar-18 31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14
Total Assets 49,317.07 37,642.47 19,286.22 20,998.95 23,524.69 21718.48
Total Revenue 10,430.96 5,873.06 3,770.64 3,488.06 3,254.06 2771.07
Total Expense 5,750.57 3,048.30 3,435.66 2,294.65 2,195.24 2189.79
Profit After Tax 3,119.00 1,879.46 4,434.14 2,432.35 1,050.99 580.58

Earnings per Equity Share (in Millions)

31-Dec-19 31-Dec-18 31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14
Basic EPS in Rs 53.46 42.52 216.93 119.34 51.88 29.95
Diluted EPS in Rs. 53.35 42.51 5.48 2.94 1.23 0.63

Spandana Sphoorty Financial IPO – Promoters

The Promoters of this company are:

  1. Mr. Padmaja Gangireddy
  2. Kangchenjunga Limited

Key Strengths:

» Seasoned business model with resilient performance through business cycles.
» High degree of client engagement and robust risk management, leading to superior asset quality and collections.
» Streamlined systems and processes and high employee productivity leading to low operating expense ratio.
» Its focus on the high potential and under-served rural segment.
» Geographically diversified operations leading to risk containment and business resilience
» Significant industry experience of its Promoter and management team.

Key Strategy:

» Leverage its popular income generation loan products to derive organic business growth
» Leverage its existing branch network by increasing loan portfolio and enhancing employee productivity.
» Increase its presence in under-penetrated states and districts.
» Further, diversify its borrowing profile and reduce its cost of borrowings.

Spandana Sphoorty Financial IPO Lead Managers

  • AXIS CAPITAL LIMITED,
  • ICICI SECURITIES LIMITED,
  • IIFL HOLDINGS LIMITED,
  • JM FINANCIAL,
  • INDUSIND BANK,
  • YES Securities Limited

Spandana Sphoorty Financial IPO Registrar to offer

Karvy Computershare Private Limited
Karvy Selenium Tower B, Plot 31-32, Gachibowli
Financial District, Nanakramguda, Hyderabad 500 032
Telangana, India
Tel: +91 40 6716 2222, Fax: +91 40 2343 1551
E-mail: spandana.ipo@karvy.com
Investor grievance E-mail: einward.ris@karvy.com
Website: www.karisma.karvy.com
Contact Person: M. Murali Krishna
SEBI Registration No.: INR000000221

Spandana Sphoorty Financial Contact Details

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
Websitehttp://www.spandanaindia.com/

Dear Readers

Hope you find useful information about “Spandana Sphoorty Financial IPO“.

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