Spandana Sphoorty Financial Limited Board Approves Rs.125 Crore Private Placement of Senior Secured Debentures
Spandana Sphoorty Financial Limited’s management committee of the board of directors met on Friday, March 10, 2023, to discuss the issuance of Senior, Secured, Rated, Listed, Redeemable, Non-Convertible Debentures. The committee approved the private placement of these debentures for up to Rs.125,00,00,000/- (Rupees One Hundred and Twenty-Five crore only).
The move is expected to help Spandana Sphoorty Financial Limited raise funds and expand its operations. The Senior, Secured, Rated, Listed, Redeemable, Non-Convertible Debentures will be issued to select investors and will be used to support the company’s growth plans.
This decision comes after careful consideration by Spandana Sphoorty Financial Limited’s management committee, which evaluated the company’s financial position and future prospects. The move is expected to attract a significant amount of interest from investors due to the strong reputation of the company in the financial industry.
Overall, this private placement of debentures is a positive step forward for Spandana Sphoorty Financial Limited, and it will help the company achieve its growth objectives while also providing investors with an opportunity to invest in a reputable and successful financial institution.
About Spandana Sphoorty:
Spandana Sphoorty Financial is primarily engaged in the business of micro finance providing small value unsecured loans to low-income customers in semi-urban and rural areas.
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