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ICICI Securities is bullish on Spandana Spoorthy Financial recommended buy rating on the stock with a target price of Rs 1100 in its research report dated October 31, 2023.

Buy Spandana Spoorthy Financial; target of Rs 1100: ICICI Securities

Crucial support for the Nifty50 is expected to remain at 18,800, the low of the last week, as beyond this point, it may slide down to 18,600-18,500. On the higher side, the immediate hurdle will be at 19,200-19,300, followed by 19,500

Top 10 bets at a time when market struggles to revive from 4-month lows

Spandana Sphoorty Financial has allotted 69,310 equity shares under ESOP on 11 September 2023. Accordingly, the paid-up equity share capital of the Company has increased from Rs. 71,01,45,040consisting of 7,10,14,504 equity shares of face value Rs. 10.00each to Rs. 71,08,38,140consisting of 7,10,83,814 equity shares of face value Rs. 10.00each.

Spandana Sphoorty Financial allots 69,310 equity shares under ESOP 

The microfinance institution allotted 10,000 listed, rated, senior, secured, transferable, redeemable NCDs having a face value of Rs 1 lakh each.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 consolidated net profit of Rs 119.45 crore in Q1 FY24 as against net loss of Rs 219.77 crore in Q1 FY23. Total income jumped 103.7% YoY to Rs 527.29 crore in the quarter ended 30 June 2023.

Spandana Sphoorty rises on Rs 100-cr NCD allotment

 Spandana Sphoorty Financial has allotted 10,000 listed, rated, senior, secured, transferable, redeemable, non-convertible debentures having face value of Rs 1 lakh each at par totaling to Rs 100 crore on private placement basis. 

 Spandana Sphoorty Financial allots NCDs aggregating Rs 100 cr 

Spandana Sphoorty Financial has allotted 3000 Senior, Secured, Rated, Listed, Redeemable Non-Convertible Debentures having face value of Rs.1,00,000 each, aggregating up to Rs.30 crore issued through Disclosure Document dated 01 September 2023. 

Spandana Sphoorty Financial allots NCDs aggregating Rs 30 cr 

The company will issue 3,000 senior, secured, rated, listed, redeemable NCDs having face value of Rs 1 lakh each aggregating to Rs 30 crore. Debentures are to be allotted on 4 September 2023 and to be matured on 4 September 2026. The instrument has an interest rate of 10.75% p.a. The tenure of the instruments will be 36 months from the deemed date of allotment.  Further, the company will issue 20,000 senior, secured, rated, listed, redeemable non-convertible debentures having face value of Rs 1 Lakh each aggregating to Rs 100 crore. NCDs are to be allotted on 7 September 2023 and to be matured on 7 March 2025. The NCDS has an interest rate of 10.43% p.a. The tenure of the instruments will be 18 months from the deemed date of allotment.The NCDs are to be listed on Bombay Stock Exchange (BSE). Meanwhile, as per media reports the company has witnessed block deal wherein 35.8 Lakh shares or 5.5% equity worth Rs 275.8 crore shares changed hands in the counter.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 scrip declined 2.71% to Rs 799 on the BSE.

Spandana Sphoorty board approves fund raising proposal

 Spandana Sphoorty Financial has approved the issuance of Senior, Secured, Rated, Listed, Redeemable, Non-Convertible Debentures as under:i. 3,000 Senior, Secured, Rated, Listed, Redeemable Non-Convertible Debentures having face value of Rs.1,00,000 each aggregating up-to Rs.30 crore on private placement basis for a tenure of 36 months. The interest rate payable is 10.75%. The deemed date of allotment is 04 September 2023. ii. 20,000 Senior, Secured, Rated, Listed, Redeemable Non-Convertible Debentures having face value of Rs.1,00,000 each, aggregating up to Rs. 200 crore with a green shoe option up-to Rs. 100 crore on private placement basis for tenure of 18 months. The interest rate payable is 10.43%. The deemed date of allotment is 07 September 2023. 

Spandana Sphoorty Financial approves NCD issuance up to Rs 230 cr 

A total of 35.8 lakh shares, representing 5.5 percent equity capital, changed hands in the block deal window.

Spandana Sphoorty trades 2% down after Rs 276-crore block deals

Spandana Sphoorty Financial will hold a meeting of the Board of Directors of the Company on 30 August 2023.

Spandana Sphoorty Financial to hold board meeting

Spandana Sphoorty Financial Ltd. engages in the provision of financial services. It offers general, micro enterprise, individual, income generating, and farm equipment loans. The company was founded by Gangireddy Padmaja Reddy in 1998 and is headquartered in Hyderabad, India.

Watchers	30
52-Wk Low	470.00
52-Wk High	1,063.30

Market Cap	69.22B
Volume (M)	130,293.00
52-Wk High	1,063.30
52-Wk Low	470.00

SPANDANA.NSE Spandana Sphoorty Financial Limited

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