 "Spandana Sphoorty Financial to raise up to Rs 300 cr by issuing bonds")
Microfinance lender Spandana Sphoorty Financial will raise up to Rs 300 crore by issuing bonds next week, the company said on Wednesday.
The board of directors in a meeting held on November 16, 2022, has approved to issue market-linked rated non-convertible debentures (NCDs) with a base issue size of Rs 200 crore and green shoe option of Rs 100 crore, the company said in a regulatory filing.
The tenure of bonds, to be allotted on November 22, 2022, have a tenure of 18 months.
The company said the bonds will carry interest at 11.15 per cent per annum.
Shares of Spandana Sphoorty closed 1.81 per cent down at Rs 560.65 apiece on BSE.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app