Spandana Sphoorty allots NCDs aggregating Rs23 crore through private placement

2 Aug 2022 , 01:31 PM

Spandana Sphoorty Financial Ltd has informed to the exchanges regarding allotment of Non-Convertible Debentures on a private placement basis.

As per the filing, the Board of Directors of the Company on August 01, 2022, has approved and allotted 230 Secured, Rated, Listed, Redeemable, Transferable, Non-convertible Debentures having face value of Rs10,00,000/- (Rupees ten lakh only) each, at par, on a private placement basis in demat form, in consideration of an aggregate amount of Rs23,00,00,000/- (Rs23 crore).

Further, the tenure of the instrument is 72 months where date of allotment is August  01, 2022 and date of maturity is August 01, 2028.

Interest rate payment is 12.29% per annum, the company informed in a regulatory filing on Tuesday.

At around 1:31 PM, Spandana Sphoorty Financial was trading at Rs423.80 per share down by Rs0.3 or 0.07% from its previous closing of Rs424.10 per share on the BSE.