Spandana Sphoorty Financial Ltd IPO

Incorporated on 10^th March 2003, Spandana Sphoorty Financial Limited (“Spandana”) is a leading Rural Focused NBFC-MFI with a geographically diversified presence in India offering income generation loans under the joint liability group model, predominantly to women from low-income households in Rural Areas. As of 31^st March 2019, they were the 4th largest NBFC-MFI and the 6th largest amongst NBFC-MFIs and Small Finance Banks (“SFBs”) in India, in terms of AUM (Source: ICRA Research).
 
Spandana has seasoned business model with resilient performance through business cycles which involves regular client meeting processes through their employees, who maintain contact with the clients across the districts that they cover. As of 30^th June 2019, Spandana had 7,062 employees (including 5,051 credit assistants) operating out of 929 branches in 269 districts across 16 states and 1 union territory in India. This will lead to High degree of client engagement and robust risk management, leading to superior asset quality and collection. ( Read Detailed Report )