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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
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Offer For Sale (OFS)
Proceeds go to the existing investors
Augmenting the Capital Base
To augment the company's capital base to meet future capital requirements arising out of the growth of its business and assets.
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Spandana Sphoorty Financial Limited is a leading non-banking financial company - microfinance institution (NBFC-MFI) in India. The company focuses primarily on offering micro-credit loans to low-income female individuals in rural and semi-urban areas, empowering women through financial inclusion and income-generating opportunities. Incorporated in 2003 and headquartered in Hyderabad, Telangana, Spandana Sphoorty has established an extensive nationwide presence with a wide network of operating branches across multiple states. The institution successfully navigated and exited the Corporate Debt Restructuring (CDR) mechanism in 2017, subsequently scaling its asset portfolio and operational footprint significantly. The business model centers on the Joint Liability Group (JLG) framework, delivering uncollateralized micro-loans paired with strict credit risk management and credit bureau evaluation. Through technology adoption and field-level customer engagement, the company continues to foster economic growth among underserved rural populations.
The company raised Rs 360.28 crore from 18 anchor investors by allocating 4,208,886 equity shares at Rs 856 per share. Notable anchor participants included Goldman Sachs India Limited, ICICI Prudential Life Insurance Company Limited, and Wells Fargo Emerging Markets Equity Fund.
Source: RHP • Analysis provided for informational purposes
Last Updated: 28 July 2026, 9:17 PM
Established Microfinance Player with National Reach
Spandana Sphoorty operates an extensive branch network across multiple Indian states, ensuring strong geographic diversification and deep penetration in rural and semi-urban markets.
Proven Track Record of Operational Scale and Recovery
The institution successfully exited Corporate Debt Restructuring and demonstrated substantial growth in asset portfolio, total income, and profitability prior to listing.
Structured Joint Liability Group Lending Model
Leverages the Joint Liability Group mechanism along with thorough credit bureau checks to maintain portfolio quality and minimize credit default risks among low-income borrowers.
Exposure to Unsecured Micro-Lending Risk
A significant portion of the loan book comprises collateral-free micro-loans to low-income borrowers, exposing the firm to credit default risks and localized economic disruptions.
Regulatory Oversight and Interest Rate Sensitivity
As an NBFC-MFI, operations are subject to stringent RBI directives, borrowing cost variations, and regulatory interest margin constraints that can impact net interest margins.
Geographic and Socio-Political Vulnerability
Operations in targeted rural districts remain vulnerable to weather-related agricultural stress, regional economic downturns, and socio-political debt waiver announcements.
Spandana Sphoorty Financial Limited
Galaxy, Wing B, 16th Floor, Plot No. 1, Sy No. 83/1, Hyderabad Knowledge City, TSIIC, Raidurg Panmaktha, Hyderabad, Telangana, 500081
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