Spandana Sphoorty Financial to list on bourses today

The initial public offer (IPO) of the company has received bids for 1.03cr shares and the issue was subscribed 1.05 times.

Aug 19, 2019 02:08 IST India Infoline News Service

Spandana Sphoorty Financial, a rural-focused NBFC-MFI with a geographically diversified presence in India, will be listed on the stock bourses on Monday.

The initial public offer (IPO) of the company has received bids for 1.03cr shares and the issue was subscribed 1.05 times.

The price band for the issue was fixed at Rs853 to Rs856 per share.

The qualified institutional buyers (QIBs) category was subscribed 3.11 times. The non-institutional investor's category was subscribed 0.55 times. The retail individual investors (RIIs) category was subscribed 0.09 times.

The Global Co-ordinators and Book Running Lead Managers (“GCBRLMs”) to the Offer are Axis Capital Limited, ICICI Securities Limited, IIFL Securities Limited and JM Financial Limited. The Book Running Lead Managers (“BRLMs”) to the Offer are IndusInd Bank and YES Securities (India).

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