Stocks

Spandana Sphoorty Financial shares make tepid market debut

PTI New Delhi | Updated on August 19, 2019 Published on August 19, 2019

Shares of microfinance lender Spandana Sphoorty Financial made a tepid debut on bourses on Monday, falling nearly 1 per cent over its issue price of Rs 856.

The scrip opened the day at Rs 824, 3.73 per cent lower against its issue price on the BSE. During the day, it touched a high of Rs 865 and a low of Rs 690. It later closed at Rs 848.40, a discount of 0.88 per cent.

On the NSE, shares fell by 0.14 per cent to close at Rs 854.75. It had listed at Rs 825, down 3.62 per cent.

On the traded volume front, 4.72 lakh shares were traded on the BSE and over 46 lakh shares on the NSE during the day.

The company’s market valuation was Rs 5,444.78 crore on the BSE.

Spandana Sphoorty Financial’s Rs 1,200-crore initial public offer was subscribed little over 1.05 times earlier this month.

Price range for the offer, which ran from August 5-7, was fixed at Rs 853-856 per share.

The company offers income generation loans under the joint liability group model, predominantly to women from low-income households in rural area

Published on August 19, 2019
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