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Published on 29/09/2022 10:56:32 AM | Source: Accord Fintech

Spandana Sphoorty Financial trades higher on getting nod to raise upto Rs 25 crore through NCDs

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Spandana Sphoorty Financial is currently trading at Rs. 540.95, up by 8.50 points or 1.60% from its previous closing of Rs. 532.45 on the BSE.

The scrip opened at Rs. 559.00 and has touched a high and low of Rs. 559.00 and Rs. 530.00 respectively. So far 324 shares were traded on the counter.

The BSE group 'T' stock of face value Rs. 10 has touched a 52 week high of Rs. 650.00 on 19-Sep-2022 and a 52 week low of Rs. 288.75 on 20-Jun-2022.

Last one week high and low of the scrip stood at Rs. 597.40 and Rs. 518.10 respectively. The current market cap of the company is Rs. 3769.60 crore.

The promoters holding in the company stood at 63.59%, while Institutions and Non-Institutions held 16.77% and 19.63% respectively.

Spandana Sphoorty Financial has received approval to raise upto Rs 25 crore through issuance of Unlisted, Secured, Rated, Non-Convertible Debentures (NCDs) on a private placement basis. The Management Committee of the Board of Directors of the Company at its meeting held on September 28, 2022 has inter-alia considered and approved the same.

Spandana Sphoorty Financial is a leading, rural focused NBFC-MFI with a geographically diversified presence in India.