Spandana Sphoorty Financial Ltd. IPO
IPO Timeline
Category-wise Subscription
| Category | Sub (x) | Offered | Bid For | Amt (Cr)* |
|---|---|---|---|---|
| QIB | — | 7,014,810 (50%) | — | ₹60,047 Cr |
| NII (HNI) | — | 2,104,444 (15%) | — | ₹18,014 Cr |
| Retail | — | 4,910,368 (35%) | — | ₹42,033 Cr |
| Σ Total | — | 14,029,622 (100%) | — | ₹1,200,936 Cr |
Only available investor categories are shown. Amount is auto-calculated when shares offered and issue price are available.
Issue Details
Minimum Investment (Lot-wise)
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 17 | ₹14,552 |
| Retail (Max) | 13 | 221 | ₹189,176 |
| S-HNI (Min) | 14 | 238 | ₹203,728 |
| B-HNI (Min) | 67 | 1,139 | ₹974,984 |
Financial Statements Amount in Lakhs
| Metric | 31-Mar-19 | 31-Mar-18 | 31-Mar-17 |
|---|---|---|---|
| Revenue | 10,363 | 5,873 | 3,771 |
| Profit After Tax | 3,087 | 1,880 | 4,434 |
| Total Assets | 48,980 | 37,642 | 19,286 |
Valuation & Key Ratios
Grey Market Premium (GMP)
GMP is an unofficial grey market indicator and does not guarantee actual listing price. Invest at your own risk.
Objects of the Issue
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Company Overview
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.
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