Spandana Sphoorty Financial to raise up to Rs 100 cr on private placement

Non-banking finance company Spandana Sphoorty Financial Ltd on Saturday said it will raise up to Rs 100 crore by issuing bonds on a private placement basis.

The decision was taken at a meeting of the management committee of the board on Saturday, it said in a regulatory filing.

The committee approved the issuance of 1,000 rated, listed, secured, redeemable non-convertible debentures (NCDs) aggregating up to an amount of Rs 100 crore on a private placement basis, it said.

The company offers joint liability