Spandana Sphoorty raises Rs60 crore via NCDs

21 Oct 2022 , 10:34 AM

Spandana Sphoorty Limited informed that the Management Committee of the board of directors has approved and allotted 600 Secured, Rated, Listed, Redeemable, Transferable Non-Convertible Debentures having a face value of Rs10,00,000 each, at par.

The instruments are issued on a private placement basis in Demat form, for consideration of an aggregate amount of Rs60 crore.

These instruments carry an interest rate of 12% p.a.

The instruments have a tenure of 24 months, starting from October 20, 2022, and ending on October 20, 2024.

The company also informed that Catalyst Trusteeship Limited is the trustee to the issue.

At around 10.37 AM, Spandana Sphoorty Financial was trading at Rs610 down by 0.25% from its previous closing of Rs611.55 on the BSE. The scrip opened at Rs590.20 and touched intraday high and low of Rs613 and Rs590.20 respectively.

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