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 reported consolidated net profit of Rs 55.15 crore in Q2 FY23 as compared to net loss of Rs 57.94 crore in Q2 FY22. Total income declined 21.75% year on year to Rs 310.15 crore in Q2 FY23.
The scrip was down 0.06% to Rs 559.10 on the BSE.
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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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