Spandana Sphoorty Financial said that its board has considered and approved non convertible debentures (NCDs) worth Rs 125 crore on private placement basis.
The senior, secured, rated, listed, redeemable, NCDs will be allotted on 17 March 2023. The tenure of the instruments is 24 months. The NCDs have a rate of interest of 10.50% per annum and the date of maturity of the instrument is on 17 March 2025. The NCDs will be listed on National Stock Exchange of India.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 NBFC's consolidated net profit jumped 58.6% to Rs 71.37 crore on 7.2% rise in total income to Rs 375.01 crore in Q3 FY23 over Q2 FY22.
The scrip was down 0.06% to Rs 559.10 on the BSE.
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