The IPO comprises of fresh issue of Rs 400 crore, and offer for sale by promoters and existing shareholders to the tune of Rs 800.94 crore.
The price band of the issue was fixed between Rs 853-856 per share. The issue will close on August 7.
Currently, CreditAccess Grameen is the only listed micro finance company after IndusInd Bank acquired Bharat Financial Inclusion in June.
The net proceeds from the issue will be utlilized towards augmenting the capital base to meet future capital requirements and general corporate purposes.
The global co-ordinators and book running lead managers are Axis Capital, ICICI Securities, IIFL securities, and JM Financial .
As of March 2019, Spandana had assets under management of Rs 4,437 crore, up 40 per cent from last year. Profit before tax increased 67 per cent to Rs 473 crore, with collection efficiency of 99.74 per cent.
