Spandana Sphoorty Fi announces launch of initial public offering
31/07/2019 10:10
Spandana Sphoorty Financial Ltd. has announced public offering of 14029622 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 846.00 per share. The gross proceeds of the issue are expected to be Rs 1,20,093.56 lakhs.

The company's initial public offer (IPO) will open on 05 August 2019 and is expected to close on 07 August 2019, subject to customary closing conditions. The price band of the issue has been fixed at Rs 853.00-856.00 per share.

The IPO includes a fresh Issue of 14029622 Equity Shares of the Company at an price of Rs 856.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 17 shares with bids in multiples of 17.

Spandana Sphoorty Financial Ltd. anticipates using the proceeds of the issue for .

JM Financial Ltd.,Axis Capital Limited,IIFL Securities Limited,IndusInd Bank Limited,YES Securities (India) Limited,ICICI Securities Ltd as lead manager(s) & Karvy Fintech Pvt. Ltd. is the registrar, to the issue.