Spandana Sphoorty rises as board allots NCDs worth Rs 100 cr

9 Dec 2022 , 10:53 AM

In an exchange filing, the micro financier said that its board has approved and allotted 1,000 senior, secured, rated, listed, redeemable non-convertible debentures having a face value of Rs 10 lakh each, at par, on a private placement basis, in consideration of an aggregate amount of Rs 100 crore. On 2 December 2022, the companys board had approved NCDs upto Rs 100 crore only including green-shoe option of Rs 50 crore on private placement basis. The NCDs having a rate of interest of 11.35% p.a. payable monthly. The tenure of the instrument is 21 months and the date of maturity is fixed on 8 September 2024. Spandana Sphoorty Financial is a rural-focused non-banking financial company and a microfinance lender (NBFC-MFI) with a geographically diversified presence in India. As on 30 September 2022, the promoter and promoter group held 63.03% stake in the company. The company reported a consolidated net profit of Rs 55.15 crore in Q2 FY23 as against a net loss of Rs 57.94 crore in Q2 FY22. Total income declined 21.7% YoY to Rs 310.15 crore during the quarter ended 30 September 2022. Powered by Capital Market – Live News