Spandana Sphoorty Financial said that the management committee of the board has approved the issuance of upto 25,000 senior, secured, rated, listed, redeemable, transferable, principal protected, market-linked non-convertible debentures.
The non-convertible debentures (NCDs) will have a face value of Rs 1 lakh each, aggregating to Rs 250 crore.
The debenture issue has a green shoe option of issuing up to 17,500 NCDs having face value of Rs 1 lakh each aggregating to Rs 425 crore on private placement basis.
Spandana Sphoorty Financial is a non-banking financial company - micro finance institution (NBFC-MFI). The company is primarily engaged in the business of micro finance providing small value unsecured loans to low-income customers in semi-urban and rural areas.
The company reported 40.7% fall in consolidated net profit to Rs 49.27 crore on 9.2% rise in total income to Rs 480.29 crore in Q4 FY21 over Q4 FY20.
The scrip rose 3.02% to currently trade at Rs 718.55 on the BSE. In the past one month, the stock has gained 23.25% while the benchmark Sensex has added 8.39% during the same period.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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