Spandana Sphoorty board approves NCD issue of Rs 25 cr

22 Sep 2022 , 09:59 AM

In an exchange filing, the NBFC said that its board has considered and approved the issuance of upto 500 secured, senior, redeemable, transferable, listed, principal protected, market linked, rated, non-convertible debentures of face value of Rs 10 lakh each, aggregating up to Rs 25 crore on a private placement basis with a green shoe option up to Rs 25 crore in the form of secured, senior, redeemable, transferable, listed, principal protected, market linked, rated, non-convertible debentures of face value of Rs 10 lakh each on private placement basis. Spandana was incorporated in 2003 as an NBFC after it took over the microfinance operations of a non-governmental organisation started by Padmaja Reddy in 1998. The company was classified as an NBFC – microfinance institution in 2015. As on 30 June 2022, Spandana had operations in 18 states/union territories spanning across 300 districts with AUM outstanding of Rs 5,510 crore. The company reported a consolidated net loss of Rs 219.77 crore in Q1 FY23 as against a net profit of Rs 53.95 crore in Q1 FY22. Total income during the period under review declined by 40.5% YoY to Rs 258.86 crore. Shares of Spandana Sphoorty Financial were up 0.43% to Rs 605 on the BSE. Powered by Capital Market – Live News