Spandana Sphoorty Financial Limited raises Rs 360.28 crore from 18 anchor investors at Rs 856 per share

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Initial Public Offering to open on August 05, 2019 and to close on August 07, 2019

•          Price Band: Rs. 853 to Rs. 856 per equity share of face value Rs. 10 each

Spandana Sphoorty Financial Limited (the “Company“), a rural focused NBFC-MFI with a geographically diversified presence in India, raises Rs 360.28 crore from 18 anchor investors allocating 42,08,886 equity shares at the upper price band at Rs 856 per Equity share(including share premium of Rs 846 per Equity share).

The anchor investors include:

GOLDMAN SACHS INDIA LIMITED – 10.5%, WASATCH INTERNATIONAL OPPORTUNITIES FUND – 4.6%, WASATCH FRONTIER EMERGING SMALL COUNTRIES FUND – 2.4%, DESTINATIONS INTERNATIONAL EQUITY FUND, A SERIES OF BRINKER CAPITAL DESTINATIONS – 3.5%, AVENDUS ABSOLUTE RETURN FUND – 6.3%, THELEME MASTER FUND LIMITED – 3.9%, ADITYA BIRLA SUNLIFE INSURANCE COMPANY LIMITED – 3.9%, CITIGROUP GLOBAL MARKETS MAURITIUS PRIVATE LIMITED – 3.9%, BNP PARIBAS ARBITRAGE – 3.9%, WELLS FARGO EMERGING MARKETS EQUITY FUND – 10.5%, FLORIDA RETIREMENT SYSTEM – WELLS CAPITAL MANAGEMENT INC – 2.5%, THE MASTER TRUST BANK OF JAPAN, LTD. AS TRUSTEE FOR GOVERNMENT PENSION INVESTMENT FUND MTBJ400045836 – 2.3%, ICICI PRUDENTIAL LIFE INSURANCE COMPANY LTD. – 10.5%, EDELWEISS ALTERNATIVE INVESTMENT OPPORTUNITIES TRUST – EDELWEISS CROSSOVER OPPORTUNITIES FUND – 4.4%, BAJAJ ALLIANZ LIFE INSURANCE COMPANY LIMITED – 10.5%, HSBC GLOBAL INVESTMENT FUNDS – ASIA EX JAPAN EQUITY SMALLER COMPANIES – 6.3%, EDELWEISS ALPHA FUND SCHEME I – 3.9%, EDELWEISS ALTERNATIVE INVESTMENT OPPORTUNITIES TRUST – EDELWEISS CROSSOVER OPPORTUNITIES FUND – SERIES II – 6.1%.

The Offer consists of a fresh issue of up to Rs. 4,000.00 million (“Fresh Issue“) and an offer for sale of up to 9,356,725 Equity Shares, comprising of an offer for sale of up to 5,967,097 Equity Shares by Kangchenjunga limited (“Corporate Promoter Selling Shareholder“); up to 1,423,114 Equity Shares by Padmaja Gangireddy (“Individual Promoter Selling Shareholder“); up to 796,509Equity Shares by Vijaya Siva Rami Reddy Vendidandi (“VSRRV“); up to 783,747 Equity Shares Valiant Mauritius Partners FDI Limited (“Valiant“), 132,831 Equity Shares by Helion Venture Partners II, LLC (“Helion II“); up to 129,732 Equity Shares by Kedaara Capital Alternative Investment Fund – Kedaara Capital AIF 1 (“Kedaara AIF 1“); and up to 123,695 Equity Shares by Helion Venture Partners, LLC (“Helion“) (together, “Investor Selling Shareholders“).

The Bid/Offer Closing Date will be on August 7, 2019. Bids can be made for a minimum lot of 17Equity Shares and in multiples of 17 Equity Shares thereafter. The Anchor Investor Bid/Offer Period shall be 1(one) Working Day prior to the Bid/Offer Opening Date which is August 2, 2019.

The Equity Shares are proposed to be listed on BSE and NSE (the “Stock Exchanges”).

The net proceeds from the Fresh Issue are proposed to be utilized towards augmenting its capital base to meet future capital requirements and general corporate purposes.

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 Limited and YES Securities (India) Limited.

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