Spandana Sphoorty lists at 4% discount to issue price

On NSE, the stock opened at Rs825 as against issue price of Rs856 and the scrip got listed at Rs824 apiece on the BSE.

Aug 19, 2019 04:08 IST India Infoline News Service

Spandana Sphoorty Financial, a rural-focused NBFC-MFI with a geographically diversified presence in India, got listed at Rs825 apiece on the NSE, a discount of 4% to the issue price of Rs856.

On NSE, the stock opened at Rs825 as against issue price of Rs856 and the scrip got listed at Rs824 apiece on the BSE.

Spandana Sphoorty Financial Ltd is currently trading at Rs842.40, down by Rs13.6 or 1.59% from its previous closing of Rs856 on the BSE.

The scrip opened at Rs824 and has touched a high and low of Rs849 and Rs809.20 respectively.

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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