The funds would be raised via the issue of non-convertible debentures (NCDs) on a private placement basis. The announcement was made after trading hours yesterday.
Spandana Sphoorty Financial is a rural-focused non-banking financial company and a microfinance lender (NBFC-MFI) with a geographically diversified presence in India.
The company reported a consolidated net profit of Rs 45.1 crore in Q3 FY22 as against a net loss of Rs 29.7 crore in Q3 FY21. Total income during the quarter rose 2% YoY to Rs 349.9 crore.
The scrip rose 0.76% to currently trade at Rs 333.60 on the BSE.
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