Spandana Sphoorty gains as board to mull NCD issue

Spandana Sphoorty Financial rose 1.59% to Rs 621.45 after the company said that its board will consider and approve the issue and offer of non-convertible debentures on Wednesday, 21 December 2022.

The company said that this issue will be done on a private placement basis.

As on 30 September 2022, the promoter and promoter group held 63.03% stake in the company.

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.

 

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