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Latest news about Spandana Sphoorty Financial

Spandana Sphoorty Fully Utilizes Rs. 195.02 Crore from Rights Issue, Shows Signs of Recovery 7 days ago

Spandana Sphoorty Financial Limited has fully utilized Rs. 195.02 crore from its Rs. 400 crore rights issue. Rs. 190 crore was used to augment the capital base and meet funding requirements, while Rs. 5.02 crore, initially for general corporate purposes, was redirected to the primary objective. The company shows signs of recovery with increasing disbursement volumes and improved collection efficiency. However, challenges persist, including breaches of financial covenants affecting Rs. 432 crore of outstanding borrowings, with waivers received for Rs. 294 crore. The rights issue has been partially subscribed, with Rs. 199.35 crore received out of the total Rs. 400 crore.

HDFC Bank's K Venkatesh Set to Take Helm at Spandana Sphoorty as CEO 10 days ago

Spandana Sphoorty Reports Q2 FY26 Loss Amid Operational Improvements Nov 05, 2025

Spandana Sphoorty Shows Signs of Recovery with ₹934 Cr Q2 Disbursements, Despite Ongoing Challenges Oct 31, 2025

Spandana Sphoorty Financial Reports ₹249 Cr Net Loss Despite 233% Jump in Disbursements Oct 31, 2025

More news about Spandana Sphoorty Financial

25Oct 25

Spandana Sphoorty Financial Raises Rs 250 Crore Through Bond Sale, Falls Short of Target

Spandana Sphoorty Financial Limited has raised Rs 250 crore through a bond sale to institutional investors, falling short of its Rs 300 crore base issue size target. The company issued non-convertible debentures (NCDs) with a face value of Rs 1,00,000 each, offering an 11.00% coupon rate payable monthly and a maturity period of 30 months and 6 days. India Ratings assigned a BBB+ rating with a negative outlook, citing concerns about asset quality, profitability, credit costs, and operating expenses. Despite board approval for up to Rs 400 crore fundraise, the actual amount raised represents 62.50% of the maximum approved amount.

13Oct 25

Spandana Sphoorty Financial Approves ₹400 Crore NCD Issuance with Green Shoe Option

Spandana Sphoorty Financial Limited has approved the issuance of Non-Convertible Debentures (NCDs) worth ₹400 crore, including a ₹100 crore green shoe option. The issuance comprises up to 40,000 NCDs with a face value of ₹1,00,000 each. These secured, senior, redeemable NCDs will be issued via private placement and listed on BSE. They offer an 11.00% annual interest rate, payable monthly, with a 30-month tenure and a maturity date of April 30, 2028. Additionally, there's a 1.25% per annum redemption premium, accrued monthly and payable at maturity if the put option is not exercised.

11Oct 25

Spandana Sphoorty Financial Appoints G. Parthasarathy as New Chief Risk Officer

Spandana Sphoorty Financial Limited has announced the appointment of G. Parthasarathy as its new Chief Risk Officer, effective October 16, 2025. He will replace Amit Anand, who is stepping down for personal reasons. Parthasarathy brings over 26 years of experience in financial services, having previously served as Chief Risk Officer at Belstar Microfinance Limited. His appointment is for a three-year term until October 15, 2028. Parthasarathy holds a law degree, an MBA in Marketing, and a B.Sc. in Mathematics, and is known for his governance-driven approach to risk management.

08Oct 25

Spandana Sphoorty Financial to Discuss Non-Convertible Debentures Issuance

Spandana Sphoorty Financial Limited will hold a Management Committee meeting on October 13, 2025, to consider and approve the issuance of Non-Convertible Debentures (NCDs) through private placement. This move, disclosed under SEBI regulations, suggests the company's strategic approach to raising capital. Spandana Sphoorty, headquartered in Hyderabad, is known for its presence in the microfinance sector.

01Sept 25

Spandana Sphoorty Grapples with Mounting Losses and Operational Challenges

Spandana Sphoorty Financial, a microfinance institution, reported a net loss of Rs 360.00 crore for the June quarter, marking its fourth consecutive quarterly loss. The company's assets under management (AUM) dropped to Rs 4,958.00 crore from Rs 11,973.00 crore in March. Operational efficiency declined with the cost-to-income ratio rising to 142.50% from 62.10%. Gross non-performing assets increased to 5.49% from 2.60% year-on-year. The company wrote off Rs 642.00 crore in bad loans during Q1. For the fiscal year, Spandana Sphoorty reported a total net loss of Rs 1,035.00 crore. Rating agencies have downgraded the company's debt instruments. The exit of CEO Shalabh Saxena amid allegations of financial mismanagement has added to the company's challenges. Despite raising Rs 200.00 crore through a rights issue, losses are expected to continue for at least two more quarters.

18Aug 25

Spandana Sphoorty Financial Reports Widened Net Loss and Revenue Decline in Q1

Spandana Sphoorty Financial reported a consolidated net loss of ₹3.60 billion in Q1, up from ₹557.00 million in the same period last year. Revenue declined by 57.75% to ₹3.00 billion from ₹7.10 billion year-over-year. The company is scheduled to participate in the Equirus Annual India Conference 2025 on August 20, 2025, in Mumbai to engage with investors.

13Aug 25

Spandana Sphoorty Financial Raises Rs 400 Crore Through Oversubscribed Rights Issue

Spandana Sphoorty Financial successfully raised Rs 400 crore through an oversubscribed rights issue, allotting 17.33 million partly paid-up equity shares at Rs 230 per share. The issue price was Rs 230 per share, with a subscription period from August 1 to August 11. The company's paid-up capital increased from Rs 71.30 crore to Rs 79.97 crore. The rights issue was structured as a partly paid offering, with half the amount collected initially and the remainder to be collected within 24 months. The oversubscription indicates strong investor confidence in the company's prospects.

31Jul 25

Spandana Sphoorty's Top Investors Back ₹400-Crore Rights Issue Amid Financial Challenges

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.

18Jul 25

Spandana Sphoorty Launches Rs 400 Crore Rights Issue at 25% Discount

Spandana Sphoorty Financial Limited has approved a rights issue to raise up to ₹400 crore. The issue price is set at ₹230 per share, with an entitlement ratio of 10:41. The payment will be in two installments, with the issue opening on August 1, 2025, and closing on August 11, 2025. The company aims to issue 1,73,91,304 partly paid-up equity shares, increasing its outstanding shares from 7,13,05,144 to 8,86,96,448 post-issue. This fundraising is part of a larger ₹750 crore equity raise planned for FY26.

15Jul 25

Spandana Sphoorty Financial Approves ₹400 Crore Rights Issue, Faces ICRA Downgrade

Spandana Sphoorty Financial's Board has approved a ₹400 crore rights issue, pending regulatory approvals. Simultaneously, ICRA has downgraded the company's credit rating, maintaining a negative outlook due to covenant breaches on ₹1,058 crore of Non-Convertible Debentures, with some waivers still pending. The specific terms of the rights issue are yet to be determined and will be disclosed later.

18Jun 25

Spandana Sphoorty Financial Plans Rs 750-Crore Capital Raise, Forms Committee

Spandana Sphoorty Financial plans to raise Rs 750 crore through various options, including a potential rights issue. The company has formed a capital raising committee to explore fundraising methods. Kedaara Capital, the principal shareholder, may participate through equity infusion. This move follows a reported net loss of Rs 1,035 crore in the previous financial year and a gross bad loan ratio of 5.63%.

12Jun 25

Spandana Sphoorty Financial Shares Tumble 2% Following ICRA Downgrade

Spandana Sphoorty Financial's shares fell 2% to ₹276.65 after ICRA downgraded the company due to deteriorating asset quality and profitability. Gross stage 3 loans increased to 5.60% of total assets, and the company reported a net loss of 8.60% of average managed assets. The firm breached financial covenants on ₹1,058.00 crore of Non-Convertible Debentures. The sudden exit of the Managing Director and CEO in April has added to investor concerns.

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.

25Apr 25

Spandana Sphoorty Financial Refutes Media Report, Affirms Robust Internal Audit Processes

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.