Mumbai, Jul 31: Spandana Sphoorty Financial Ltd(SSFL), a rural-focused NBFC-MFI,on Wednesday proposed to open its' Initial Public Offering of on August 5.
The Anchor Investor Bid/Offer Period will be one working day prior to the bid/offer opening date August 2, and the bids can be made for a minimum lot of 17 shares and its multiples
The net proceeds are proposed to be utilised towards augmenting Spandana's capital base to meet future capital requirements and general corporate purposes,release said.
SSFL Managing Director Padmaja Gangireddy said, "The offer consists of a fresh issue of up to Rs 4,000 million, and an offer for sale of up to 9,356,725 Equity Shares."
The IPO closing date will be August 7. (UNI)