Spandana Sphoorty Financial raises Rs 800 crore during lockdown

Spandana Sphoorty Financial announced that the company has raised approximately Rs. 800 crore after the imposition of the national lockdown - an industry leading figure, with additional funds expected soon.

- Funds raised in form of direct assignment and term loans from marquee institutions such as the State Bank of India and NABARD - entirely independent of the RBI's recently announced LTRO and refinance scheme.

- Working with various banks under the TLTRO 2.0 program, and with government institutions such as SIDBI and NABARD for further funding, to provide headroom for its continued business growth - expecting significant traction here, since the company is the only highly-rated MFI to already resume business operations.

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