Spandana Sphoorty Financial Ltd - 542759 - Listing of equity shares of Spandana Sphoorty Financial Ltd
Trading Members of the Exchange are hereby informed that effective from August19, 2019, the equity shares of Spandana Sphoorty Financial Ltd (Scrip Code: 542759) are listed and admitted to dealings on the Exchange in the list of 'B' Group Securities. For further details please refer to the notice no 20190816- dated August 16, 2019. Spandana Sphoorty share sale sees 30% subscription, Sterling 10%
Spandana has already allotted Rs 360 crore of shares to anchor investors, while Sterling had, on Monday, allotted Rs 1,406 crore of shares for the same
Spandana Sphoorty IPO opens today for subscription
Spandana Sphoorty Financial, a microfinance company, has its IPO opening today for subscription. The company plans to raise Rs 400 crore by issuing fresh equity shares to increase the capital base and for general corporate purpose. The promoters will also sell a portion of existing shares worth up to Rs 801 crore. 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. The net proceeds of the fresh Issue are proposed to be utilised for:1. Augmenting the company's capital base and 2. General corporate purposes Competitive Strengths 1. Seasoned business model 2. Large employee base for a high degree of client engagement 3. Diversified business operations in the undertapped rural segment 4. Low NPAs Summary of financial Information Metrics 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 Spandana Sphoorty Issue details Issue Open Aug 5, 2019 - Aug 7, 2019 Issue Type Book Built Issue IPO Issue Size 14,046,056 Eq Shares of Rs 10 (aggregating up to Rs 1,200.94 Cr) Fresh Issue 4,689,331 Eq Shares of Rs 10 (aggregating up to Rs 400.00 Cr) Offer for Sale 9,356,725 Eq Shares of Rs 10 (aggregating up to Rs [.] Cr) Face Value Rs 10 Per Equity Share Issue Price Rs 853 - Rs 856 Per Equity Share Market Lot 17 Shares Min Order Quantity 17 Shares Listing At BSE, NSE Bid/Offer Opens On Aug 5, 2019 Bid/Offer Closes On Aug 7, 2019 Finalisation of Basis of Allotment Aug 14, 2019 Initiation of Refunds Aug 14, 2019 Credit of Shares to Demat Acct: Aug 16, 2019 IPO Shares Listing Date: Aug 19, 2019 Pre-Issue Share Holding 81.21% Post Issue Share Holding Offer Size Allocated QIB Portion: 50% of the offer; Retail Portion: 35% of the offer NII Portion: 15% of the offer Contact Spandana 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/