Microlender Spandana cuts offer for sale portion in IPO2 min read . Updated: 31 Jul 2019, 11:58 PM IST
- Shareholders to sell ₹800 cr shares at upper end of price band against ₹1,125 cr earlier
- Reduction in OFS size of firm comes amid slowdown in India’s primary capital market
MUMBAI : Microlender Spandana Sphoorty Financial Ltd has reduced the offer for sale portion in its initial public offering (IPO) by 29%. At a price band of ₹853-856, the company’s shareholders will now sell shares worth ₹800 crore at the upper end of the price band, against the initial plan to raise ₹1,125 crore, if calculated using the same price band.
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