spandana sphoorty ipo

Spandana Sphoorty is a leading, rural-focused NBFC-MFI with a geographically diversified presence in India. The company offer income generation loans under the joint liability group model, predominantly to women from low-income households in Rural Areas.

Spandana was the 4th largest NBFC-MFI and the 6th largest amongst NBFC-MFIs and SFBs in India, in terms of AUM. As of June 30, 2019, Spandana had 7,062 employees with presence all over India.

Promoters of Spandana Sphoorty

Padmaja Gangireddy and Kangchenjunga Limited are the promoters of the company.

Strength of Spandana Sphoorty IPO

  1. Leading, rural-focused NBFC-MFI with a diversified presence in India.
  2. Fourth largest NBFC-MFI in India in terms of AUM
  3. Regular client meeting processes through large employees base (7,062 employees)
  4. The main focus on the low-income client segment.

Weakness of Spandana Sphoorty IPO

  1. The Company operate in a highly regulated environment in which it is regulated by the RBI
  2. Financial difficulty and other problems in certain financial institutions in India could adversely affect our business, results of operations, financial condition and prospects.
  3. Ability to raise foreign funds may be constrained by Indian Law

Spandana Sphoorty IPO Details

IPO Opens on: 5 August 2019

IPO Close on: 7 August 2019

Price Band: Rs 853 to Rs 856

Bid Lot: 17 Shares & in Multiple of 17 Shares

Maximum Price: Rs 14,552

Fresh Issue:  400 Cr

Offer For Sale: 800 Cr (96 Lakh Shares)

IPO Size: 1200 Cr

Spandana Sphoorty IPO Time Line

Finalisation of Allotment: 14 August 2019

Initiation of Refunds: 14 August 2019

Transfer of Shares to Demat Account: 16 August 2019

Listing At: NSE & BSE

Listing Date: 19 August 2019

Financial Performance of (in Million) Spandana Sphoorty

FY19 FY18 FY17
Gross AUM 44,372 31,667 13,015
Gross AUM Growth% 40.12% 143.31% 6.78%
Total Assets 48,980 37,642 19,286
Total Income 10,485 5,875 3,786
Profit Before Tax 4,734 2,827 455

 

Spandana Sphoorty IPO Valuations

Face Value = Rs 10

Earnings Per Share (EPS) = Rs 53.53

PE Ratio = To be Updated

Return on Net Worth (RONW) = 16.51%

Net Asset Value = Rs 316.84/Share

Spandana Sphoorty IPO Subscription Details

Category Shares offered Subscription (no. of times, at 6pm)
Day 1 Day 2 Day 3
QIB  0.19x 0.85x 3.10x
NII 0.00x 0.20x 0.56x
Retail 0.01x 0.03x 0.09x
Total 0.06x 0.30x 1.05x

Grey Market Premium of Spandana Sphoorty

Grey market premium as on 09-08-2019 is Rs 4 -5/Share

Grey market premium as on 08-08-2019 is Rs 10 -15/Share

Grey market premium as on 07-08-2019 is Rs 10 -15/Share

Grey market premium as on 06-08-2019 is Rs 10 -15/Share

Grey market premium as on 05-08-2019 is Rs 400/Share

Grey market premium as on 04-08-2019 is Rs 350-400/Share

Grey market premium as on 03-08-2019 is Rs 350-400/Share 

Grey market premium as on 02-08-2019 is Rs 300/Share 

Grey market premium as on 01-08-2019 is Rs 300/Share 

Grey market premium as on 31-07-2019 is Rs 300/Share

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