#CAGL IPO Review

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CreditAccess Grameen IPO Kostak Rate (CAGL Kostak)

CreditAccess Grameen IPO Kostak Rate (CAGL Kostak)

CreditAccess Grameen IPO Kostak Rate (CAGL Kostak):

Subscription of CreditAccess Grameen Ltd (CAGL) IPO is going to hit market from August 08, 2018 – August 10, 2018. CreditAccess Grameen IPO Kostak Rate (CAGL Kostak) has started showing some movement.

A Kostak rateis the premium one gets by selling his/her IPO application (in an off market transaction) to someone else before allotment or listing…

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Spandana Sphoorty IPO Date, Price, GMP, Review & Details

Spandana Sphoorty IPO Date, Price, GMP, Review & Details

Incorporated in 2003, Spandana Sphoorty Financial Ltd is a rural area focused NBFC-Microfinance Institution. Mrs Reddy is a founder, MD and promoter of the company. It is engaged in offering small-ticket unsecured loans to help the women in the low-income bracket in rural and urban areas. The company provides income generation loans, business loans and loans against gold jewellery.

Spandana has a presence across 15 states in India with 4,045 employees and 694 branch network. By offering the loan products to low-income households, the company is strengthening the socio-economic condition and improving their livelihoods.

The company has started working under CDR mechanism (Corporate Debt Restructuring) of the RBI to revive the business and restructure the borrowings in 2010. And, exited successfully in March 2017 with the help of Kangchenjunga Ltd and Kedaara AIF-1.

Before the 2010 crisis, the company had Rs 4,500 crore loan portfolio. The company started recovering and made the first profit in the year 2013-14. As of September 2018, Spandana had Rs 2,244 crore loan portfolio.

Company Products

1. Abhilasha (JLG Loans) 2. Shree Loans 3. Loans Against Property (LAP) 4. Gold Loans (Keertana) 5. Phinix Loans 6. Interim Loans Competitive Strengths

1. Seasoned business model 2. Large employee base for a high degree of client engagement 3. Focus on a highly under-served market 4. Geographically diversified business operations Company Promoters: Padmaja Gangireddy and Kangchenjunga Limited are the promoters of the company.

Company Financials: Summary of financial Information (Restated) Particulars For the year/period ended (in Rs. 10 Lakhs) 31-Mar-19 31-Mar-18 31-Mar-17 31-Mar-16 31-Mar-15 Total Assets 48,980.37 37,642.47 19,286.22 20,998.95 23,524.69 Total Revenue 10,362.81 5,872.74 3,770.64 3,438.62 3,019.71 Profit After Tax 3,087.48 1,879.71 4,434.14 2,432.35 1,050.99 Objects of the Issue: The Net Proceeds of the Fresh Issue are proposed to be utilised for: 1. Augmenting the capital base and 2. General corporate purposes

Spandana Sphoorty IPO Details Issue Open Aug 5, 2019 - Aug 7, 2019 Issue Type Book Built Issue IPO Issue Size 14,046,056 Eq Shares of Rs 10 (aggregating up to Rs 1,200.94 Cr) Fresh Issue [.] Eq Shares of Rs 10 (aggregating up to Rs 400.00 Cr) Offer for Sale 9,356,725 Eq Shares of Rs 10 (aggregating up to Rs [.] Cr) Face Value Rs 10 Per Equity Share Issue Price Rs 853 - Rs 856 Per Equity Share Market Lot 17 Shares Min Order Quantity 17 Shares Listing At BSE, NSE Spandana Sphoorty IPO Tentative Date / Timetable Bid/Offer Opens On Aug 5, 2019 Bid/Offer Closes On Aug 7, 2019 Finalization of Basis of Allotment Aug 14, 2019 Initiation of Refunds Aug 14, 2019 The credit of Shares to Demat Acct: Aug 16, 2019 IPO Shares Listing Date: Aug 19, 2019 Spandana Sphoorty IPO Promoter Holding Pre Issue Share Holding 81.21% Post Issue Share Holding

Company Contact Information Spandana Sphoorty Financial Ltd Plot No: 31 & 32, Ramky Selenium Towers, Tower A, Ground Floor, Financial District, Nanakramguda, Hyderabad 500 032

Phone: +91 40 4812 6666 Email: secretarial@spandanaindia.com Website: http://www.spandanaindia.com/

Spandana Sphoorty IPO Registrar Karvy Computershare Private Limited   Karvy Registry House, 8-2-596, St. No. 1,   Banjara Hills, Hyderabad - 500 034   Andhra Pradesh, India

Phone: +91-40-23312454 Email: spandana.ipo@karvy.com Website: https://karisma.karvy.com/

Spandana Sphoorty IPO Lead Manager(s) Axis Capital Limited ICICI Securities Limited IIFL Holdings Limited IndusInd Bank Limited JM Financial Consultants Private Limited Yes Securities (India) Limited

Conclusion / Investment Strategy SSFL is the most efficient micro-finance company with a cost to income ratio of 25% and the industry-leading opex ratio of 4.6% for FY19. Its AUM posted 85% CAGR and PBT posted 222% CAGR in last two years with just 0.01% NPAs as on 31.03.19. SSFL offer appears cheap against its close peer CAGL. Considering these, investors may consider investment for the long term.

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CreditAccess Grameen IPO Grey Market Premium (GMP)

CreditAccess Grameen IPO Grey Market Premium (GMP)

CreditAccess Grameen IPO Grey Market Premium (CAGL GMP):

CreditAccess Grameen Ltd (CAGL) IPO bidding will be active from August 08, 2018 – August 10, 2018. CreditAccess Grameen IPO Grey Market Premium (CAGL GMP) has started showing some movement.

IPO Grey MarketPremium in India (GMP) helps in deciding the premium of the IPO Shares on listing day. It also allows investors to sell the IPO Shares or…