Spandana Sphoorty's Top Investors Back ₹400-Crore Rights Issue Amid Financial Challenges 6 days ago
Spandana Sphoorty Financial Ltd. (SSFL) is set to launch a ₹400 crore rights issue on August 1, with support from its top 10 institutional investors. The issue is priced at ₹230 per share with a 50% upfront payment structure. Kedaara Capital, the promoter with a 48.13% stake, leads the participating investors. SSFL faces financial challenges with a net loss of ₹1,035 crore and a 43% year-on-year decline in Assets Under Management to ₹6,819 crore. The company's Gross Non-Performing Assets ratio stands at 4.85%, while its Capital to Risk-Adjusted Ratio is 37%. Despite these challenges, the stock market shows confidence, with shares closing at ₹271.85 on the BSE.
Spandana Sphoorty Launches Rs 400 Crore Rights Issue at 25% Discount Jul 18, 2025
Spandana Sphoorty Financial Approves ₹400 Crore Rights Issue, Faces ICRA Downgrade Jul 15, 2025
Spandana Sphoorty Financial Plans Rs 750-Crore Capital Raise, Forms Committee Jun 18, 2025
Spandana Sphoorty Financial Shares Tumble 2% Following ICRA Downgrade Jun 12, 2025
More news about Spandana Sphoorty Financial
02Jun 25
Spandana Sphoorty Financial's Q4 Net Loss Widens to ₹410 Crore
Spandana Sphoorty Financial's Q4 results show a net loss of ₹410.00 crore, a significant increase from ₹122.00 crore in the same quarter last year. The company's revenue declined to ₹370.00 crore from ₹630.00 crore year-over-year, representing a 41% drop. The Q4 loss also increased sequentially from ₹390.00 crore in the previous quarter, indicating a continuing trend of mounting losses.
30May 25
Spandana Sphoorty Financial Reports ₹434 Crore Q4 Loss Amid Auditor Concerns and Industry Challenges
Spandana Sphoorty Financial, a microfinance company, reported a consolidated net loss of ₹434.00 crore for Q4, compared to a profit of ₹128.60 crore in the same quarter last year. Revenue declined by 38% to ₹414.80 crore, while Assets Under Management fell 43% to ₹6,819.00 crore. The Gross Non-Performing Assets ratio increased to 5.63%. The company faces additional challenges including auditor concerns about possible fraud-related misstatements, the CEO's resignation, and potential RBI scrutiny over unreported frauds and cash balance mismatches. For the full fiscal year, the company reported a net loss of ₹1,035.00 crore.
13May 25
Spandana Sphoorty Financial to Amend Articles of Association for Enhanced Fundraising Flexibility
Spandana Sphoorty Financial plans to modify its Articles of Association to align with current regulations and improve fundraising capabilities. The changes will allow more flexibility in issuing shares for cash or services. Shareholders can vote on these amendments through e-voting from May 13 to June 11.
Spandana Sphoorty Financial Limited has issued a clarification to stock exchanges, denying any unreported information and asserting robust internal audit mechanisms. The company stated there is no undisclosed information requiring disclosure under SEBI regulations. It emphasized strong internal audit processes and proper disclosure of any adverse findings in published financial results. The company was unable to explain recent stock price movements, suggesting they are not based on material information known to the company.
25Apr 25
Spandana Sphoorty Financial Under RBI Scrutiny, CEO Resigns Abruptly
Spandana Sphoorty Financial faces regulatory scrutiny after an RBI inspection revealed operational issues including unreported frauds and cash balance mismatches. CEO Shalabh Saxena has resigned, with CFO Ashish Kumar Damani appointed as interim CEO. The company now faces challenges in regulatory compliance, maintaining investor confidence, and stabilizing leadership.
23Apr 25
Spandana Sphoorty Financial Announces CEO Transition, Appoints Interim Chief
Shalabh Saxena, Managing Director and CEO of Spandana Sphoorty Financial Limited, has resigned effective April 23, 2025. The Board has appointed Ashish Kumar Damani, current President and CFO, as Interim CEO. Damani, with over 23 years of microfinance experience, will lead the company through this transition. Spandana emphasizes commitment to seamless leadership change in compliance with SEBI regulations.