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.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
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