Microfinance lender Spandana Sphoorty Financial started off trade at a 3.6 per cent discounted price of Rs 825 per share against the issue price of Rs 856. The Rs 1,200-crore public issue was subscribed 1.05 times. Speaking to BTVI, the firm's Managing Director, Padmaja Gangi Reddy, said the response to IPO exceeded expectations considering market conditions. She said the firm will focus only on microfinance and is not looking to diversify into other segments. Here's more.