The board of Spandana Sphoorty Financial on Wednesday approved raising upto Rs 120 crore through non-convertible debentures (NCDs).
In a regulatory filing during market hours today, the micro-finance lender said that its board approved issuing upto 12,000 secured, rated, listed, redeemable, transferable NCDs having face value of Rs 1 lakh each, aggregating up to Rs 120 crore on a private placement basis.Shares of Spandana Sphoorty Financial rose 0.19% to Rs 638.60 on BSE.
Spandana Sphoorty Financial is a non-banking financial company - micro finance institution (NBFC-MFI). It reported a consolidated net loss of Rs 29.72 crore in Q3 FY21 compared with net profit of Rs 129.53 crore in Q3 FY20. Total income fell 4% year-on-year (YoY) to Rs 344.26 crore during the quarter.
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