The board of Spandana Sphoorty Financial on Friday alloted non-convertible debentures having face value of Rs 10 lakh each aggregating up to Rs 300 crore in three rounds.
Under each round, the company will issue 1,000 senior, secured, rated, listed, redeemable, non-convertible debentures having face value of Rs 10 lakh each aggregating up to Rs 100 crore on private placement basis. The rate of interest is fixed at 11.35% per annum.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 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.
The scrip jumped 4.69% to end at Rs 590 on Friday, 30 December 2022.
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