Spandana Sphoorty Financial , a prominent microfinance institution, has issued a postal ballot notice dated December 17, 2025, seeking shareholder approval for key leadership appointments and remuneration revisions through electronic voting.

Postal Ballot Resolutions

The company has proposed three special resolutions for member approval through remote e-voting:

Executive Compensation Structure

The postal ballot notice reveals comprehensive remuneration details for Venkatesh Krishnan's appointment as Managing Director and Chief Executive Officer:

Leadership Transition Background

The Board of Directors approved Krishnan's appointment on November 25, 2025, following the resignation of the former Managing Director and Chief Executive Officer. Krishnan brings over 34 years of financial services experience, having previously headed the microfinance division at HDFC Bank from 2018.

Voting Timeline and Process

The e-voting process is scheduled as follows:

Chairperson Remuneration Revision

The company also seeks approval for revising Abanti Mitra's annual remuneration from ₹30.00 lakh to ₹50.00 lakh, effective October 1, 2025. Mitra has served as Chairperson and Independent Director since 2021, providing strategic guidance during challenging phases including the recent leadership transition.

Regulatory Compliance

The postal ballot notice complies with Section 110 of the Companies Act, 2013, and SEBI Listing Regulations. The company has appointed Y Ravi Prasada Reddy as Scrutinizer for conducting the e-voting process in a fair and transparent manner.

Shareholders can access the complete postal ballot notice and explanatory statement on the company's website and stock exchange platforms for detailed information on the proposed resolutions.

Spandana Sphoorty Financial Ltd has completed the allotment of 8,500 secured redeemable non-convertible debentures worth ₹85.00 crore and approved a significant expansion of its debt fundraising program. The Management Committee of the Board of Directors, in its meeting held on December 17, 2025, sanctioned the allotment of the initial NCDs and approved additional issuances totaling up to ₹425.00 crore across three tranches.

Completed NCD Allotment

The company has successfully allotted the initial tranche of debt instruments with the following specifications:

Expanded Fundraising Program

The Management Committee has approved an ambitious three-tranche NCD issuance program, significantly expanding the company's debt capital raising capacity:

Payment Structure and Listing Details

The NCDs feature differentiated payment structures across tranches to cater to varied investor preferences. All three tranches will be listed on BSE Limited, providing liquidity options for investors. The instruments carry secured and redeemable features with quarterly and monthly interest payment schedules depending on the specific tranche.

Tranche-I and Tranche-III follow quarterly interest payments with maturity dates of June 30, 2028, while Tranche-II offers monthly interest payments with a shorter tenure ending March 31, 2028. Principal repayment is structured quarterly for Tranche-I and III, while Tranche-II features bullet repayment at maturity.

Strategic Capital Market Initiative

This comprehensive debt issuance program represents a substantial capital market initiative for the financial services company. The total potential fundraising of ₹510.00 crore (including the completed ₹85.00 crore allotment and the approved ₹425.00 crore program) demonstrates the company's strategic approach to accessing institutional funding through private placement routes while maintaining operational flexibility through the green shoe options across all tranches.