Spandana Sphoorty Financial IPO
Spandana Sphoorty Financial IPO — date, price band, lot size & details 2019
Spandana Sphoorty Financial listed on 19 Aug 2019 at ₹825, 3.6% below the ₹856 issue price.
Spandana Sphoorty Financial is a rural focused NBFC-MFI that gives small income generation loans, mostly to women from low-income households. Its total income was Rs 1,041.71 crore in FY2019.
Stock price
Spandana Sphoorty Financial is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 14 November.
- Open 05 Aug 2019
- Close 07 Aug 2019
- Allotment 14 Aug 2019
- Refund/credit 14 Aug 2019
- Listing 19 Aug 2019
Issue summary
The terms of the offer, as filed.
| IPO Dates | 5 to 7 Aug, 2019 |
|---|---|
| Price Band | ₹853 – ₹856 |
| Face Value | ₹10 |
| Lot Size | 17 Shares |
| Issue Size | ₹1189.85 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 14,552 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 17 shares at the ₹856 cut-off. Drag to size your application.
| 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 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 378.67 crore in FY2017 to Rs 1,041.71 crore in FY2019.
- 02Profit after tax rose from Rs 187.97 crore in FY2018 to Rs 308.75 crore in FY2019.
- 03It was the fourth largest NBFC-MFI in India by assets under management on 31 March 2019.
- 04Net worth rose from Rs 927.57 crore in FY2017 to Rs 1,889.44 crore in FY2019.
- 05It had 929 branches across 16 states and 1 union territory on 30 June 2019.
Risks · 5
- 01Its loans are small and unsecured; the October 2010 Andhra Pradesh microfinance ordinance hit collections across the sector, including for MFIs then based there.
- 02Profit of Rs 443.41 crore in FY2017 was more than that year's total income of Rs 378.67 crore, so it did not come from lending alone.
- 03Total borrowing rose from Rs 932.46 crore in FY2017 to Rs 1,552.99 crore in FY2019.
- 04Rs 800.94 crore of the Rs 1,189.85 crore issue went to selling shareholders.
- 05Promoter holding fell from 81.21% before the issue to 62.6% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Spandana Sphoorty Financial offer document.
| Metric | 31 Mar 2019 | 31 Mar 2018 | 31 Mar 2017 |
|---|---|---|---|
| Assets | 4,898.04 | 3,764.27 | 1,928.62 |
| Total Income | 1,041.71 | 587.50 | 378.67 |
| Profit After Tax | 308.75 | 187.97 | 443.41 |
| NET Worth | 1,889.44 | 1,390.64 | 927.57 |
| Reserves and Surplus | 1,826.74 | 1,360.90 | 899.12 |
| Total Borrowing | 1,552.99 | 1,296.51 | 932.46 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Where the money goes
₹435.19 Cr of the issue is earmarked to named objects.
Spandana Sphoorty Financial IPO Anchor Investors
18 anchor investors across 7 fund houses committed ₹360.28 Cr a day before the issue opened.
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
It is a rural focused NBFC-MFI that gives income generation loans under the joint liability group model, mostly to women from low-income households.
As of 31 March 2019 it was the fourth largest NBFC-MFI in India by assets under management, as per ICRA Research cited in the prospectus. As of 30 June 2019 it worked through 929 branches in 16 states and 1 union territory.
The IPO was Rs 1,189.85 crore, with Rs 388.91 crore of fresh issue and Rs 800.94 crore of offer for sale, at Rs 856, the top of the Rs 853 to Rs 856 band. The fresh money was to add to its capital base.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Spandana Sphoorty Financial IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
JM Financial Ltd.
172 issues handledBest listing: Tata Technologies (+140.0%). Weakest: ACME Solar Holdings (-13.1%).
Axis Capital
255 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
ICICI Securities
221 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Bannari Amman Spinning Mills (-25.2%).
IIFL Capital Services Limited
146 issues handledBest listing: Unicommerce eSolutions (+117.6%). Weakest: ICICI Securities (-16.3%).
YES Securities (India) Ltd
17 issues handledBest listing: IRCTC (+95.6%). Weakest: Bharat Dynamics (-13.6%).
Indusind Bank Ltd
2 issues handled2 of their issues have listed so far, and 1 opened above the issue price (average -3.9%). That is too small a sample to read as a hit rate.
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Spandana Sphoorty Financial?
The current Grey Market Premium is ₹4.5, or 1% over the issue price.
What is the Spandana Sphoorty Financial IPO price band?
₹853 to ₹856, on a face value of ₹10.
When is the allotment?
The basis of allotment is 14 August 2019, with listing on 19 August 2019.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
