Spandana Sphoorty Financial Ltd. debuts with 3.73% discount at Rs 824.00
19/08/2019 20:40
Spandana Sphoorty Financial Ltd. makes a weak debut on the bourses with scrip got listed at Rs 824.00 on the Bombay Stock Exchange, a 3.73 per cent discount to its issue price of Rs 856.00. On the National Stock Exchange, the stock was listed at Rs 825.00.

The company, which raised 1.40 Cr from initial public offering, was subscribed 1.05 times, receiving bids for 147.31 lakhs shares against the total issue size of 140.30 lakhs shares.

The company, listed under B Group Securities post its IPO, opened for subscription from Aug 05 to Aug 07.

Following a weak opening, the scrip touched an intraday high of Rs 865.00 and a low of Rs 690.00, before closing the session up by 0.88 per cent to its listing price at Rs 848.40 on the BSE.

The company 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 managers & Karvy Fintech Pvt. Ltd. is the registrar, to the issue.

Meanwhile, the broader benchmark BSE Sensex closed trade at 37,402.49, up 52.16 points, or 0.13 per cent.